Nigeria’s leading commercial bank, Sterling Bank Plc, has announced the creation of The Business Hub (TBH) in Lagos as part of its effort to support and promote small scale enterprises (MSMEs) and skills development in Nigeria.

The Business Hub was created in line with the bank’s strategy to create an enabling environment for young people to grow their businesses with each Hub location customized to fit a sector. The first space located at Adebola House, Ikeja is focused on growing the Fashion Industry and has in the Hub a co-sewing space providing fashion business owners with a sewing machine, ironing table and weaving machine for as low as 2,000 Naira. The Hub also has a meeting room, lounge and a modeling agency in it.

Head, Strategy of the Bank, Khafil Animashaun, who disclosed this in a statement in Lagos recently, said the bank realized that more needed to be done to support small businesses beyond financial advisory and as such the bank created the Hub as a safe and serene community where young people can ideate, develop and build their businesses.

“We understand that part of our economic development lies on the ingenuity of small-scale enterprises. We believe it is our role to contribute by creating a platform that allows that ingenuity thrive by helping the teeming populace upskill and achieve their business dreams despite the daunting economic situation.” Animashaun said.

The Business Hub has a co-working lounge; which is utilized by food and drink vendors, a meeting room, as well as a banking hall all with free Wi-Fi available to guests.

Animashaun added that Sterling would replicate this across the country to ensure that more business owners get this opportunity. She also added that the Hub would organize free monthly trainings, financial advisory, printing and storage services for its members and she was sure that young business owners would find the environment inspiring, supportive and well- managed.

She said the hub will give increase access to market for food and beverage vendors, fashion businesses, arts and furniture businesses as well as help in capacity building.