The Small and Medium Enterprises Development Agency (SMEDAN) says the agency will disburse N10 million to 20 women small business associations in Cross River.
The Director-General of the agency, Mr Wale Fasanya, said this at the opening of a three-day capacity building programme on grant and growth support for Business Membership Organisations (BMOs) and Trade Associations in Calabar.
Fasanya, represented by Mr Friday Okpara, Director, Partnership and Coordination, SMEDAN, said the programme, which was first implemented in 2017, had so far disbursed N40 million as grants to 488 participants from 80 associations.
He said that the current disbursement of N10 million to 20 associations would bring the total disburement to N50 million to 100 associations.
He said the initiative to support women entrepreneurs became necessary because, according to a 2021 data, 43 per cent of businesses in Nigeria are female-led.
Fasanya said the findings corroborated other reports that show that Nigeria had the highest number of female entrepreneurs in the world.
He, however, said that in spite of the high level of women’s entrepreneurial drive, many of their businesses had remained at subsistence level.
“Considering the impact of female-led businesses, in spite of their challenges, it is imperative that the government and ecosystem players take more intentional approach in supporting them.
“Today, women are making in-road and redefining entrepreneurship as a route to socioeconomic empowerment by making tremendous impact towards employment generation and wealth creation,” Fasanya said
He further said that SMEDAN was eager to share with the women, the latest development within the Nano, Micro, Small and Medium Enterprises ecosystem.
He appealed to them to support younger female entrepreneurs to succeed.
Also, Mr Farouk Salim, the D-G, Standard Organisation of Nigeria (SON), said they were in the programme to sensitise women on how to standardise their products and services to reap numerous benefits.
Salim, represented by the Acting State Coordinator of SON, Mr Fidelis Wariboko, said that having certified products would help one to access loans and grants.
Salim said that the Federal Government, through the Ministry of Trade and Investment and SON, had made the process of product certification easy.
“All that is required is for the entrepreneur to visit SON office, pick the Mandatory Conformity Access Programme form and he or she would be advised on the steps to follow,” he said.
The Cross River Commissioner for Industry, Mr Peter Egba, represented by Mrs Cicilia Adie, thanked SMEDAN for organising the training in the state.
Egba said that women are meticulous in organisation and should use the opportunity to take their businesses to the next level.
He urged the participants to encourage other women by bringing them into their associations.
Some of the participants told the News Agency of Nigeria (NAN) that finance and enlightenment had always been the challenge of women entrepreneurs.
They said that with the assistance from SMEDAN, they could do more. (NAN)
