As part of the many efforts of the Federal Government of Nigeria to encourage and support small and medium scale enterprises (SMEs) in Nigeria, the Federal Ministry of Finance has established a Venture Capital Fund called the YouWiN! SME Growth Fund. The Fund is created to assist SMEs needing finance for expansion and growth. It is expected viable SMEs that are supported by the Fund will create employment opportunities and contribute to growing Nigeria’s GDP.
Visit www.smegrowthfund.com.ng for more information on the SME Growth Fund.
Viable SMEs will be able to access investment funding of between N25m to N45m on average, to support their start-up, early stage and mid to longer term growth plans.
The Fund will be institutionalized to focus on SMEs with the potential to engender innovation, generate good returns on investment, create jobs, promote entrepreneurship, and contribute to social development.
Application Process
Before applying for finance, it is important you make adequate preparations and have a solid business plan in place. The business plan is a mandatory requirement. It MUST be realistic, thorough, detailed, and should properly reflect your strategy for growing your business.
Visit www.smegrowthfund.com.ng for more information on the SME Growth Fund.
SMEs interested in seeking investment from the fund must also meet ALL of the following pre-qualification criteria (as is relevant), before submitting an application for the SME Growth Fund:
- Applicants must own the majority of the shares/equity of the business they are seeking finance for. Where there is an equal partnership, the application must be a joint application
- All applicants must have a registered business enterprise or company with the Corporate Affairs Commission (CAC). A copy of the Certificate of Registration must be submitted at pre-qualification stage
- All applicants must submit a copy of the management structure of their businesses, and a description of the corporate governance systems that are in place
- The main business premises must be in located in Nigeria, and the business address must be within Nigeria
- Existing SMEs must have less than 100 employees
- Existing SMEs must have annual financial statements for each year of their existence, or be able to prepare same
- Existing SMEs must hold verifiable business bank accounts
- Existing SMEs must be able to provide tax clearance certificates for each year of their existence
- All applicants must have suitable identification documents (e.g. a passport or a drivers license)
Visit www.smegrowthfund.com.ng for more information on the SME Growth Fund.
Detailed checks will be conducted to verify the information provided by the applicants. Applicants must be able to provide original documents and other evidence to support their application.
To go to the application page, log into your account and click the apply link. If you do not have an account, you can register to create one.
Source: www.smegrowthfund.com.ng
As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).
Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.
Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.
We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.
Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community
Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.
Business Goals and Objective
- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better
Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
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