What You Should Know About SMEDAN

What do you know about SMEDAN?

The Small and Medium Enterprises Development Agency of Nigeria – SMEDAN is a government agency created in 2003 with the aim to help Micro, Small, and Medium Enterprises (MSME) get access to mentorship for starting a business, access to loans, get training and certification for their businesses.

The SMADAN Act 2003 established The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Their vision is to establish a structured and efficient micro, small and medium enterprises sector that will enhance the sustainable economic development of Nigeria.

The agency was created to help the growth of MSME in the Nigerian Economy. Basically, the agency helps small businesses and entrepreneurs to access opportunities the government is offering MSME especially access to credit facilities, training, and also registers your business into their database.

Micro, Small, and Medium Enterprises (MSME) are required to register on their website or go to their office to fill the form. The SMEDAN registration is open to all small businesses and entrepreneurs and you get a SMEDAN Unique Identification Number (SUIN) and certificate when done.

Without the identification number, you won’t be able to access funding and survival funds from the Nigerian government.

What are the requirements to register?

What you need is provide your name, email, BVN, business name (you can still fill the form if you are not registered with CAC, just click not registered), you will insert your user name and password.

You will receive an email to confirm your registration. Afterwards, you will be issued a SMEDAN certificate containing your SMEDAN Unique Identification Number (SUIN) through your email to download.

SMEDAN provides you with an opportunity to access support and training for self-employed youths and MSMEs.

The registration serves as a database for the agency for MSMEs in Nigeria. SMEDAN certificate is used globally to access loans too.

To be able to have access to these opportunities, you have to be registered with SMEDAN and get your identification number. To register, click HERE.

Who can apply?

All Micro, Small and Medium Enterprise in Nigeria which includes, traders, artisan, tailors, online business owners, hairdressers, freelancers, etc. If you fall into these categories you qualify to register as far as you are a small business owner.

As far as you are a small business and entrepreneur in Nigeria you can apply and get access. You can apply as an individual or as a group.

The programme is one of the initiatives to tackle poverty and encourages creative businesses to grow their business.

SMEDAN has collaboration with Bank of Agriculture, Bank of Industry and Central Bank of Nigeria.

How to access loans through SMEDAN?

Ideally, SMEDAN does not directly provide you with the loans, but instead they help you access the loans. They connect eligible businesses with loan providers. One one of the things you need to qualify for loans is that you must have gone through special training which is specific to your business, which is what SMEDAN provides.

However, you can get conditional grants of up to N50,000.00 from SMEDAN. An MSME can also get access to funding from international donor agencies, public and private sector financial institutions, empowerment programmes and training, and insurance services.

To register, visit a SMEDAN office close to you and complete an application form or visit the registration portal.

SMEDAN regularly trains registered businesses. So, you will be invited when there is an opportunity for training. When you complete the course, you can get a grant to start up or to support your business growth. You will also be trained on how to write a business plan as you will need a business plan when you apply for a loan.

Visit their official website HERE to get more info.

To register your business with SMEDAN go HERE.

Contact their office
No 35 Port Harcourt Crescent,
Off Gimbiya Street, Area 11, Garki
Abuja.
Email: info@smedan.gov.ng

Author: M.K. Ibiyeye

Kenny is the creator of the Paid Professional's Blog and he is a Lawyer and Talent Manager.

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