AFKInsider: What achievements have been recorded in VConnect thus far?

Deepankar Rustagi: Several achievements have been recorded here in VConnect. Nonetheless, one of our major achievements is gaining the people’s trust.

At inception, getting information from SME business owners was difficult because they are often reluctant, weary and cautious, as their fears evolve around scams and frauds; nonetheless, we have gained their trust from our efficiency, tact and transparency in delivery.

In addition, as at today, VConnect has more than 950,000 businesses registered on the network and millions of users visit the site monthly to search for information for one purpose or the other. VConnect is the largest local search engine in Nigeria and Africa. We have also successfully registered 25 percent of fixed structured businesses in Nigeria, live on our site.

AFKInsider: Aside from the massive data available on VConnect, what is the company’s overall view about businesses in Nigeria?

Deepankar Rustagi: I observe that businesses in Nigeria have lots of potential.

Nigerians are very dynamic and innovative people who adapt to situations and make the most of opportunities that come their way. Any dedicated and hardworking individual in Nigeria would achieve set goals in good time. In spite of the lack of or minimal basic infrastructure in some situations, they still thrive. Businesses in Nigeria are set to reach the heights; it’s all going to happen in time.

AFKInsider: Who do you consider your major competition and why?

Deepankar Rustagi: We do not have any competition at the moment in Nigeria. VConnect came into existence when there was no local information provider in Nigeria. However, over time, Mocality, backed by Naspers was set up but soon exited the market.

The fact is that this business isn’t just about funding, marketing or advertising; it requires a lot of patience to understand both users and SMEs. What we are doing now, is focusing on satisfying users by making available as much information as possible, whilst ensuring that SMES are developed and given ample opportunities to expand. For us, it’s a win-win situation.

AFKInsider: What is the plan for 2014?

Deepankar Rustagi:  Our plans for 2014 include expansion and so much more strategizing. We plan to launch our products in Ghana and are working on upgrading our website to version 3.0. We also plan to engage in a lot of aggressive marketing, bringing VConnect to the mind of every Nigerian. We intend to increase our database, as this would help achieve our goal of having all businesses in Nigeria registered by 2015.

AFKInsider: What could be done to support SMEs in Nigeria?

Deepankar Rustagi: Firstly, most SMEs in Nigeria need financial support. Government and other institutions should set up soft loans to support them.

Secondly, orientation and continuous training is very important. This is because most SMEs need to be informed of new services which can help their businesses grow; and companies like VConnect have been assisting on this aspect, at no cost.

Governments and corporate institutions should organize more seminars and trainings to help re-orientate them. Policies that are SME-friendly are also necessary to aid their growth and development.