At Norebase, we strive to equip our clients with the tools needed to structure successful global businesses. Part of this involves ensuring Nigerian entrepreneurs take full advantage of support programs in their home market.
One pivotal organisation is SMEDAN (Small and Medium Enterprises Development Agency of Nigeria), established in 2003 to facilitate the growth of micro, small and medium enterprises. Through their registration portal, MSMEs can formalise operations while accessing an array of benefits.
About SMEDAN Certificate registration
Let’s examine the value SMEDAN provides.
Upon establishment, SMEDAN had several objectives that hold to date. They include:
- Monitor, stimulate, and coordinate MSME development in Nigeria.
- Initiate policy ideas and articulate them to ensure the proper development of MSMEs within the country.
- Facilitate and promote different development programs, instruments, and support services. All of these are aimed at accelerating the development and modernization of MSMEs in Nigeria.
What is the SMEDAN MSME Registration Program?
This program was designed to create a formal database of all the MSMEs within Nigeria. After completing the registration process, each registered business will be allocated a Unique Identification Number (UIN).
Aside from the unique number, registered businesses are also eligible to receive a SMEDAN certificate. What benefits do you stand to enjoy from having both? Firstly, your business gets the opportunity to access SMEDAN’s Conditional Grant Scheme. This scheme provides up to N50,000 to SMEDAN-registered businesses.
Another benefit of this registration is the eligibility for priority funding. What this means is that your business can access financial support from established financial institutions. Note that this goes beyond banks to other public and private institutions.
If you own an SME in Nigeria here are reasons why you should get a SMEDAN Certificate
- Access to training and funding programs organized by SMEDAN every year. Registration gives you priority status for each of these programs.
- Access to business support programs
- Unique Identification Number
- Business insurance.
- SMEDAN Certificate.
You can make use of the SMEDAN certificate to apply for loans. Examples of such loans include government funding, private sector funding, and support funds within and outside Nigeria.
Who is eligible to receive a SMEDAN certificate?
If your business falls under the definition of Micro, Small, and Medium Enterprises, then it is eligible. Of course, the business must exist and operate within the shores of Nigeria. The sector in which the business operates doesn’t matter. Once it satisfies these conditions, then it is eligible.
In Nigeria, MSMEs are businesses with 250 employees or less.
Here’s a breakdown:
Micro-Enterprise – Minimum of 1 and a maximum of 9 employees.
Small Enterprise – Minimum of 10 and a maximum of 49 employees.
Medium Enterprise – Minimum of 50 and a maximum of 2450 employees.
How do you register to get the SMEDAN certificate and number?
Step 2 – Fill out the form. This requires you to supply accurate details including name, business details, BVN, and email.
Step 3 – You will be redirected to the homepage of SMEDAN.
Step 4 – Provide the appropriate login details and press enter. The next web page shows you the SMEDAN certificate for your business.
You will also receive an email to confirm the registration of your business with SMEDAN.