What you need to know about SMEDAN’s MSME Mass Registration
If you haven’t heard about SMEDAN’s MSME Mass Registration exercise, then you need to read this. Earlier this year, SMEDAN launched the MSME registration exercise. There are several benefits of this exercise to SMEDAN and the MSMEs in Nigeria too.
For example, SMEDANs MSME Mass Registration exercise will ensure that the body has an updated list of SMEs in the country. This is very important if this body will achieve its aim of overseeing the affairs of SMEs in Nigeria. In this post, we will tell you all that you need to know about this exercise.
Before discussing the MSME Mass Registration, let’s tell you a little about SMEDAN. This body is the government arm that oversees the affairs of SMEs in Nigeria. It was established in 2003 to ensure the development of SMEs in Nigeria.
In case you are wondering what SMEDAN is, it means Small and Medium Enterprises Development Agency of Nigeria. Here are some of the objectives of setting up this body:
a. Monitor, facilitate, and oversee the development of MSMEs in Nigeria.
b. Propose and articulate policies that will positively influence the development of Nigerian MSMEs.
c. Establish several programs, support services, and instruments to accelerate the development of MSMEs and their modernisation.
This body has upheld these objectives since inception and as a result, carries out several functions. A few of these functions include:
a. Creating an environment that is favourable to businesses in the country to alleviate poverty. To this end, it fosters job creation and industrialisation.
b. Acts as the bridge between different finance providers and SMEs in Nigeria. It also ensures that MSMEs get access to technical skills and technology that they need to thrive.
c. Promoting the development of several industrial infrastructures to boost the growth of SMEs in Nigeria.
d. The voice of SMEs to the Federal Government.
e. Ensures that the environment is conducive for SMEs to thrive in Nigeria. To achieve this, it collaborates with several local and international bodies.
The objectives and functions of SMEDAN should enlighten you on why it established the registration exercise.
Explaining SMEDAN’s MSME Mass Registration Exercise
If you are still wondering what this exercise is about, then you are not alone. Many small business owners in Nigeria have no idea that this exercise is going on, let alone, know what it means. Let’s save you from your dilemma.
Earlier this year, Dr Umar Dikko Radda, announced SMEDAN’s MSME Mass Registration Program. This program is designed to create a comprehensive database of all the MSMEs in Nigeria. Several businesses fall under this category, including artisans, traders, restaurant owners, tailors, etc.
When a business registers with SMEDAN, they receive a UIN. UIN stands for Unique Identification Number. This number puts the business in a position for several interesting benefits such as the N50,000 grant from SMEDAN. Isn’t this getting interesting?
The registered businesses can also access priority funding from SMEDAN’s partner financial institutions. As you know, SMEDAN partners with both private and public financial institutions locally and internationally to fund SMEs in Nigeria. The question that begs an answer is, why should you register your business under SMEDAN’s MSME Mass Registration program?
Benefits of SMEDAN’s MSME Mass Registration Exercise to SMEs in Nigeria
So we have been told how beneficial this exercise is to SMEDAN. Now, let’s tell you how beneficial it is to partake in the registration exercise. Many business owners must be wondering why they should register with SMEDAN. First of all, as we mentioned earlier, you get a Unique Identification Number upon registration.
Another benefit of this registration is that you enjoy preferential treatment during special training programs that SMEDAN organises. These programs come up several times every year, and they are highly beneficial to SME owners. Asides from using the certificates from such programs to raise funds, they help to improve your status as a business.
Do you know that when your business is part of SMEDAN’s database, you can access several interesting facilities? Asides from training, you also enjoy access to grants, funds, empowerment programs, to mention a few. Below is a summary of why you should partake in SMEDAN’s MSME Mass Registration program:
a. Unique Identification Number from SMEDAN.
b. Conditional grant scheme of about N50,000.
c. Business insurance.
d. Empowerment programs and entrepreneurship training.
e. Priority funding.
Eligibility for SMEDAN’s MSME Mass Registration Program
Are you already itching to enjoy the benefits discussed above? Very good, it is time to see who is eligible to partake in this registration exercise. As you know, MSME stands for Micro, Small, and Medium Enterprises. This means that any business that falls under this umbrella is eligible to register.
By Nigerian standards, any business that has 250 employees or less falls under this category. Here’s a simple break down to help you know which of the categories your business belongs to:
a. Micro Enterprises have 1 to 9 employees.
b. Small Enterprises have 10 to 49 employees.
c. Medium Enterprises have 50 to 249 employees.
Which of these categories does your business fall under? Regardless of the category, your business falls under; you can still apply once you satisfy the MSME requirement.
SMEDAN’s MSME Mass Registration Process
Great, you fit the profile of businesses that can register under this program. The next thing to do is to begin the registration process. Before we go ahead, we should tell you that the registration is completely free. Follow the steps below to register:
Step 1 – Open https://smedanregister.ng.
Step 2 – Provide the information required in the form on the next page. Make sure that you provide the correct details.
Step 3 – After submitting the details, you are taken back to SMEDAN’s homepage.
Step 4 – Login using the appropriate details. Once you do, you will see your SMEDAN certificate on the next page.
Congratulations!!! Now you have all the information that you need about SMEDAN’s MSME Mass Registration Program. Remember, the process is simple, straightforward, and free of charge.