DR. DOYIN Salami, a faculty member of the Lagos Business School and member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has identified inadequate business know-how as a major reason for banks' unwillingness to lend to the small business owners.Salami made this known during FATE Foundation 2013 macro-economic outlook session at in Lagos. He said entrepreneurs have to see their businesses beyond dogmas and unrealistic belief of succeeding even where people do not understand what they are doing.According to Salami, beyond the challenges of finance, infrastructure and human capacity development, a major challenge confronting small and medium enterprises (SMEs) is the lack of business understanding. This, he said, is the reason a lot of SMEs in the country are struggling to survive.He noted that the onus is on the entrepreneurs to present opportunities and bankable projects that are attractive to financiers.Over time, SMEs in Nigeria have not performed well and have not played the their role in supporting economic growth and development, experts say. SMEs contribute 46.54 per cent to the country's gross domestic product (GDP) in nominal terms, according to the 2012 Enterprise Baseline Survey.This compares with approximately 60 per cent the sector contributes to the Chinese economy as at end of 2011 and 70 per cent it contributed to Ghanaian according to a University of Ghana study.A 2013 outlook on Nigeria's SMEs envisages capacity development needed to help people build sustainable businesses and access to finance, as key challenges the sub-sector will face in the ongoing year. Thus, on cost of financing, he said, ''Although loans and advances by deposit money banks (DMBs) are recovering considerably, prevailing lending rates put borrowing from DMBs out of the reach of most small and medium enterprises, and therefore they have to resort to micro financing. Click here to read full news..