'SMEs hardly focus on revenue growth'

LCCI chief says businesses too caught up in managing day-to-day affairs

LAHORE:

The small and medium scale businesses hardly focus on revenue growth by improvising and focusing on evolution, said Lahore Chamber of Commerce and Industry (LCCI) President Irfan Iqbal Sheikh.

“They remain busy managing day-to-day affairs and cannot pay enough attention to maximise asset efficiency, which holds the real key to success,” he lamented.

Speaking at a seminar, titled ‘Business Transformation in 2020’, the president said that these factors are widely covered under management courses that require sufficient time and efforts to get a proper hold on them.

Sheikh stated that the objective of the seminar was to train entrepreneurs for setting organisation goals and at the same time enabling them to streamline business standard operating procedures to achieve financial goals.

The president said the seminar was aimed at guiding the participants as to how they can ensure a strong governance system in their companies. He assured the participants of the seminar that the Lahore Chamber will continue to respond positively to any initiative taken in the best interest of the business community.

LCCI Executive Committee Member and Convener of Standing Committee on Women Empowerment Uzma Shahid said the main objective of the seminar was to educate the LCCI members on procedures for building their businesses and organisations effectively