About SMEConnect

Passionate about growing your business

Welcome to FirstBank SME Connect. At FirstBank, we are passionate about helping your business grow on all fronts. Beyond financial support, we offer you strategic advisory services, business  seminars periodic updates as well as information that will guide you in growing your business. Our scope of SME services cover small/medium scale manufacturing firms, merchants (suppliers, distributors etc), professional firms(law, consulting, audit etc), agricultural, Churches, Mosques and NGOs whose annual debit turnover is between N5M and N500M.

About SME

Small and Medium Sized Enterprises (SMEs) as defined by the Central Bank of Nigeria (CBN) are economically independent companies with about 11 to 300 employees and an annual debit turnover of between N5million to N500 million.

The main factors determining whether a company is an SME are::

  • Number of employees
  • Annual debit turnover

Why are SME important?

SMEs are responsible for the majority of new jobs created in Nigeria and they are crucial to Nigeria’s success in the global economy.

  • For Government, SMEs, contribute to wealth creation and generate tax revenues
  • In business, SMEs represent an important source of innovation
  • In the society, they are an important source of employment
  • They drive consumption at the lower levels because they operate in every sector of the economy
  • SMEs have extensive local knowledge of resources, supply patterns and purchasing trends
  • SMEs constitute an important source of local supply and service provisions to larger corporations.
  • They make significant contribution to the revenue profile of most financial institutions
  • SMEs stimulate growth and development within the economy

How does FirstBank SME Connect support SMEs in Nigeria?

  • FirstBank is committed to providing the Nigerian SME’S with the support needed for growth
  • SME Connect is created to bring under one umbrella relevant resources, products and services aimed at helping SMEs in Nigeria.
  • FirstBank has tailor-made products targeted at the specific needs of SMEs in Nigeria. These loan products have been designed for financing the activities of Small and Medium Enterprises (SMEs) under the U-First Scheme.
  • FirstBank also provides Business Advisory and Support services and business oriented credit access
  • Location
  • Customer/market
  • Competition
  • Financing structure
  • Access/Availability of Raw Materials
  • Sales/cashflow projections
  • Marketing/Distribution/Logistics
  • Business Strategic Plan

Key challenges faced by SMEs in Nigeria

  • Poor capital structure
  • High cost of production
  • Limited access to long term funds
  • Poor business continuity/succession plan
  • Weak value chain: supply, distribution, logistics, time to market etc
  • Poor managerial and technical skills
  • Lack of access to international markets
  • Sole Proprietorship
  • Labour intensive production processes
  • Keyman risk

How do you classify an SME?

SMEs can be classified as follows:

  • Small/medium scale manufacturing firms.
  • Small/medium retail merchants (suppliers, distributors, etc.)
  • Professional firms (law, consulting, audit, etc.)
  • Small/medium scale agricultural firms.
  • Churches, mosques and NGO.
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FirstBank Privacy Policy for IBM DNA E-Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the IBM DNA learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by IBM through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

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FirstBank Privacy Policy for Roducate

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Roducate learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Roducate through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

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E-Learning Roducate Registration

If you are 18 years and above, kindly complete the form below.

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E-Learning IBM-DNA Registration

If you are 18 years and above, kindly complete the form below.

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FirstBank Privacy Policy for Curious Learning

YOUR PRIVACY FIRST

At First Bank Nigeria Limited, we put you first and are thus committed to protecting and respecting you privacy. We are committed to being transparent about how we collect, process, share and manage data about you (our customers and staff).

  1. FIRSTBANK AND YOU

This privacy policy stipulates the bank’s approach to handling your data and your rights in the course of providing you with the Curious Learning platform to meet your needs.

  1. YOUR PERSONAL INFORMATION

In the course of consuming the services provided to you by Curious Learning through FirstBank, we collect information you provide us via online registration forms and correspondence by mail etc. The information we collect may include but not limited to identity information, location, contact information and education level.

  1. CONSENT

We don’t ask for your personal information unless we need it to provide services for you. You will be considered to have given our consent to FirstBank for processing your personal data when;

  1. USE OF YOUR INFORMATION

FirstBank will process our information for the following purposes;

FirstBank will limit the collection and use of your personal information for the stated purposes.

  1. INFORMATION SHARING AND DISCLOSURE

To ensure access to the e-Learning platform and in furtherance of your own learning objectives, FirstBank and our partners may share data you provide us with our service partners specifically in scope of this engagement to support your learning objectives. Data will be processed within systems owned and operated by any of the parties involved in the delivery of the e-learning service to you. The processing may occur in locations (some outside Nigeria) with different levels of data privacy maturity but from where these services are most effectively rendered.

  1. YOUR RIGHTS UNDER THIS POLICY

The following rights are available to you under this policy:

I disagree. Opt Out

E-Learning Curious Learning

For Parent / Guardian

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Parents should kindly complete the form below for their wards.

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