Former President of the National Institute of Marketing of Nigeria (NIMN), Idy Enang, has warned that many small businesses are failing due to a poor grasp of fundamental marketing principles. Speaking in Lagos, Enang—who has held senior roles at Samsung and L'Oréal—emphasized that marketing should be the foundation of any sustainable business.
According to him, marketing is not just a function but the core of business operations. He noted that many SMEs lack a clear purpose or strategy, often unable to articulate the problems they aim to solve or the value they offer.
Enang also criticized small businesses for ignoring Environmental, Social, and Governance (ESG) standards, which he said are now essential for long-term success. While large companies actively incorporate ESG practices, he pointed out that SMEs often overlook these frameworks, risking their relevance and future viability.
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He stressed that knowledge and continuous learning—not just tax reforms—are the real solutions to the challenges facing small businesses. Without understanding their market, offerings, and purpose, many entrepreneurs set up ventures that quickly fail under pressure.
Calling many SMEs "accidental," Enang urged business owners to seek training, strategy, and innovation if they want to remain competitive. He also warned against unqualified individuals practicing as marketers, saying the law would soon catch up with those operating without proper certification, as the Institute ramps up efforts to professionalize the industry.
In his words, "Marketing is the soul of business. Without it, there is no sustainable enterprise."
