The Director-General, Small and Medium Enterprises Development Agency of Nigeria, Dr Dikko Umaru-Radda, said on Saturday that Micro Small and Medium Enterprises represented 96 per cent of business activities in the county.
According to him, 90 per cent of the micro enterprises are informal and populated by people at the bottom of the pyramid, hence the introduction of Condition Grant Scheme for micro enterprises in Nigeria.He said that the process would enable informal enterprises metamorphosis into the formal sector, industrialize the nation, develop the rural economy, stem youth restiveness and unemployment as well as create sustainable economic growth and development.
According to him, 13,000 enterprises in those areas benefited from entrepreneurship training, formalization of registration of businesses, provision of insurance and access to finance through the grant of N50,000. “Others are enhancing competition of these enterprises towards meeting national, regional and global standards as well as improving internally generated revenue to reduce dependence on oil revenue,” he said.
NaijaSmallBizTalk. With this fact, how have you been supporting the SMEs in terms of creating enabling environment and access to SME Loans?
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