If there is one thing business owners across Africa can agree on right now, it’s this: the business environment has hands. Prices shift without warning, customer behaviour evolves overnight, and every strategy you finally figure out seems to need rethinking two months later. Running an SME today often feels like driving through Lagos traffic without knowing which route is blocked;you move, you adapt, and you keep scanning for signs.
Yet, even in this uncertainty, many small and medium enterprises are still thriving. The difference isn’t luck. It’s strategy.
Here’s how SMEs can navigate unpredictability and still come out strong:
Master the Art of Lean Operations
In stable times, you can afford to experiment with expenses. In uncertain periods, efficiency becomes your superpower. This doesn’t mean cutting corners; it means cutting waste.
•Re-evaluate subscriptions and tools you’re not using
•Optimise processes to reduce time and cost
•Negotiate with suppliers and consider flexible contracts
Lean does not equal small. Lean equals intentional.
Diversify Your Value, Not Just Your Products
Many businesses hear “diversify” and immediately think, add new products. But true diversification is deeper than multiplying items on a shelf.
Ask:
•Can we serve new customer groups?
•Can we shift our delivery channels?
•Can we add services around existing products?
For example, a bakery that sells bread can offer meal kits, delivery subscriptions, or baking classes online. Same expertise, expanded value.
Build Community Before You Need It
Your network is more than contacts. It is resilience. Collaborate. Cross-promote. Share insights. In tough seasons, businesses that have invested in relationships find opportunities faster than those standing alone. This is exactly why intentional knowledge-sharing platforms matter.
Keep Learning,Especially From Those Doing It Right
Thriving in uncertainty requires real-time learning, not outdated playbooks, and this is where the UBA Business Series becomes relevant.
November 6th, UBA is bringing together creators, entrepreneurs, business owners and culture-shapers to hold a truly practical conversation about succeeding in today’s evolving economy.
Speakers like Elozonam, Aproko Doctor, Catherine Kamau, and Nasboi, with Enioluwa as host, will be breaking down how you can thrive in the digital space and stay financially smart while at it, even when the market shifts. These aren’t theories. These are working strategies from people who are doing it now.
If you are a business owner, freelancer, creative entrepreneur, or someone dreaming of launching something new, this is your signal to show up, listen, take notes, and connect.
Stay Financially Disciplined and Future-Oriented
Uncertainty rewards those who plan.
•Set aside reserves when business is good
•UBA SME account with business support tools
•Track your cash flow closely, not reactively
Your financial structure should help you move confidently, not shake you during shocks.
UBA provides business accounts, advisory support, and funding access tools tailored to SMEs. The economy may be unpredictable, but your response doesn’t have to be.
SMEs thrive when they:
•Stay lean
•Innovate with purpose
•Build strong networks
•Keep learning
•Structure finances wisely
Tomorrow’s Business Series is one of those rooms where knowledge meets opportunity.
Make time to be there. The next phase of your business might just begin with one insight, one connection, or one conversation.
See you there!
