Discover Where Your Business Sits
on the SME360 Enterprise Readiness Ladder™.
Most Nigerian SMEs operate with ambition and opportunity but without the institutional infrastructure required for sustainable growth. The SME Infrastructure Diagnostic gives you the honest picture across ten targeted questions, in five minutes.
SME Infrastructure Diagnostic
10 questions · 5 minutes · Immediate results
Is your business properly registered and correctly set up, with the right entity type, a proper shareholding structure, and complete CAC documentation?
Yes, fully incorporated, correct entity type, complete documentation including MEMAT, Articles, share register, and director appointments.
Partially, incorporated but documentation is incomplete or we are unsure if our entity structure is optimal.
No, operating informally, as a business name only, or our incorporation is incomplete.
Are your statutory and regulatory obligations consistently managed and up to date? (CAC annual returns, SCUML, TCC, PENCOM, NSITF, ITF, NRS, formerly FIRS)
Yes, all filings are current, compliance calendar is actively managed, no outstanding obligations.
Partially, some obligations are managed, but others have lapsed or are managed reactively after reminders.
No, compliance is irregular, several obligations are outstanding, or we are not sure of our current status.
Does your business have documented governance policies and internal controls, covering financial decisions, procurement, HR, and staff conduct?
Yes, a comprehensive policy suite is fully documented, covering financial, procurement, HR, ethics, anti-corruption, and operational governance. Approval authority is clearly defined and internal controls are in place across key processes.
Partially, some documentation exists (typically finance policies) but the suite is incomplete, inconsistently applied, or does not cover procurement, HR, ethics, or risk governance.
No, processes are largely informal and dependent entirely on the founder's judgment and presence.
Are your governance policies and internal controls actively implemented, monitored, and periodically reviewed, or do they exist only as documents?
Yes, implementation is monitored regularly, controls are tested, and policies are reviewed at defined intervals. The business operates according to what is documented.
Partially, policies exist and are sometimes followed, but monitoring is inconsistent and reviews are informal or infrequent.
No formal monitoring exists, either policies are absent, or they exist on paper but are not operationally enforced.
Does your business produce monthly management accounts that are reliable, timely, and actively used for management decisions?
Yes, management accounts produced consistently by the 10th of the following month, covering P&L, balance sheet, and cash position, and actively used by management.
Occasionally, financial reports are produced but irregularly, are often months behind, or are not decision-quality.
No, we rely on year-end accounts from our accountant. We do not have monthly management information.
Do your financial reports provide meaningful insight into operational performance, by product line, location, customer segment, project, or business unit?
Yes, our reporting is structured to show performance across the dimensions that drive our business decisions. We can identify what is profitable and what is not.
Partially, we have some reporting but it shows totals only, without operational breakdown or segment-level insight.
No, our reports show aggregate totals only. We cannot see what is driving profitability or identify where losses are occurring.
Does your business use a structured cloud accounting system, such as QuickBooks Online or an equivalent platform, as its primary financial management tool?
Yes, a cloud accounting system is fully implemented, actively used, and is our primary source of financial data.
Partially, we have accounting software but it is not consistently used, not properly set up, or the data quality is unreliable.
No, we manage finances through spreadsheets, or our accounting software is not being used meaningfully.
Is your accounting system configured to generate decision-support reports, tracking performance by product, customer, class, project, or location?
Yes, the system is fully configured with class tracking, reporting hierarchies, and management dashboards that are actively used for business decisions.
Partially, some reporting is available but the system is used mainly for basic bookkeeping, not structured management reporting.
No, the system is not configured for decision-support reporting. We cannot extract meaningful management information from it.
If a bank, investor, DFI, or development partner requested due diligence documentation tomorrow, could your business provide it immediately, without emergency preparation?
Yes, all required documentation is organised and accessible: historical financial statements, management accounts, tax compliance records (TCC, SCUML, PENCOM), governance documentation, and operational policies.
Partially, some records exist and could be assembled, but significant time and effort would be required to organise them before submission.
No, we could not currently provide complete due diligence documentation. Significant gaps exist across financial records, compliance status, or governance documentation.
Does your business operate with a current business plan, defined KPIs, and a performance management framework that is actively used, not just documented?
Yes, strategy is documented, KPIs are defined and tracked monthly, and performance is reviewed against plan on a regular schedule with management accountability.
Partially, we have some strategic clarity but it is not formally documented or regularly reviewed against actual performance data.
No, we operate reactively without a formal plan or performance management framework in active use.
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