A few weeks ago, the Federal Government of Nigeria announced a survival fund designed to help Micro, Small and Medium Enterprises (MSMEs) that have been affected by the COVID-19 pandemic. The goal of the fund is to ease the effects of the lockdowns and reduced economic activities on small businesses across Nigeria, especially those in the informal sector.
Following the announcement, registration is now open for the survival fund. Thus, if you have an MSME registered in Nigeria, you can sign up on the survival fund’s registration portal to become a beneficiary.
First of all, the fund is divided into three categories; Payroll Support, MSME grant and Guaranteed Offtake. Currently, you can only apply for Payroll Support from the fund. Here’s how to apply.
Firstly, you’ll need to sign up with your personal (business owner’s) information. You will need a valid email address and basic contact details.
Secondly, you’ll need to provide information about your business; what’s it’s called, where it’s located, the services you offer and how many employees you have. You’ll also need to provide the particulars of these employees.
Thirdly, you’ll need to provide evidence that you own the business, and that you have been affected by the pandemic in order for you to benefit from the survival fund.
Finally, after submitting your profile, your information will be checked against the criteria for the Payroll Support program. If you meet the criteria, The survival fund with pay you.
Now, we at UBS Digital may not be able to help you with the financing at this time, but with anything else you need for your business, especially if it has to do with digital marketing, we’re more than happy to help. Feel free to contact us.