Many advantages come with registering your business with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
For instance, the agency is the first point of call when the federal government, private firms, and foreign organisations want to support medium and small businesses in Nigeria.
If you are yet to include your business in SMEDAN database, it is worth it when it’s time to consider the businesses on its database for disbursement of loans, grants and other benefits.
Here are the advantages of registering your business with SMEDAN:
1) You will have access to Financial Services and interact with its officials at the agency’s branch offices in your geopolitical zone.
2) You will get access to Business Insurance
3) Getting SMEDAN Registration Number will ease your access to loans as we saw in its recent N5 billion loan partnership with Sterling bank
4) It gives you access to business grants from governmental and private organizations.
5) You will get access to entrepreneurship training
6) You will be able to access its subscription service after linking your BVN to SMEDAN platform if you’re interested in in its business masterclass and business insurance for your venture.
7) You will get access to educational content which is designed by SME professionals
8) You will get access to private investment opportunities.
9) Priority is also given to SMEs that have SMEDAN registration number (SIUN) when funding opportunities arise from International Donor Agencies.
10) You will get SMEDAN digital Certificate
If you register your business with SMEDAN, it will make it easier for the government to gather data and use such to allocate funds to MSMEs before the next fiscal year.
For the government to allocate support MSMEs, it must know the number of small businesses across the country. Data is important for planning.