All You Need To Know About The SMEDAN Certificate Of Registration
If you are the owner of an SME in Africa, then you must have heard about the SMEDAN certificate of registration. We shared some information about the SMEDAN mass registration for MSMEs in Nigeria. This process aims to get a comprehensive list of all the MSMEs within the country. SMEs that register with SMEDAN are bound to enjoy certain benefits.
SMEDAN is a body that was established by the government of Nigeria in 2003. The sole aim at the time was to help with the development of MSMEs within the country. SMEDAN stands for Small and Medium Enterprises Development Agency of Nigeria.
Upon establishment, SMEDAN had several objectives that hold to date. They include:
a. Monitor, stimulate, and coordinate MSME development in Nigeria.
b. Initiate policy ideas and articulate them to ensure the proper development of MSMEs within the country.
c. 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.
Based on the above objectives, SMEDAN is saddled with performing a series of functions. Some of these functions include:
a. Serves as a leading organization to deal with issues of poverty by creating a favourable environment. This is achieved by the industrialization of rural areas and creating jobs to enhance the livelihood of Nigerians.
b. Acts as the link between MSMEs and financial sources (internal and external), required technology, and technical skills. They also link MSMEs to larger private enterprises that can provide funding and technical support.
c. Promotes the establishment of different industrial infrastructures and provides access as well. Examples of such infrastructures include industrial layouts, parks, and incubators.
d. Acts as the link between MSMEs and the Nigerian Government. This is why the body is seen as the “voice of SMEs” in Nigeria.
e. Creates a thriving environment for the different classes of MSMEs in Nigeria. It achieves this by working in tandem with several institutions within both the public and private sectors.
After viewing the above objectives and functions, it is easy to see why SMEDAN setup the MSME registration process. In the next section, we will take a brief look at what the registration program is about.
What is the SMEDAN MSME Registration Program?
If you are wondering how the idea of the SMEDAN certificate came about, this section should help. A few months ago, Dr Umar Dikko Radda (SMEDAN Director-General), announced the MSME registration program. Since then, there has been a buzz about the idea. Business owners want to know what it is about and different blogs have put out different procedures.
This program was designed to create a formal database of all the MSMEs within Nigeria. By MSMEs, we mean artisans, tailors, fashion designers, traders, restaurant owners, hoteliers, etc. After completing the registration process, each registered business will be allocated a Unique Identification Number (UIN).
Asides from the unique number, the 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 of accessing 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. Like we mentioned under SMEDAN’s objectives, this body is a link between MSMEs and different finance bodies. 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.
Who is eligible to receive a SMEDAN certificate?
Are you getting excited at the idea of getting a SMEDAN certificate? We bet you are after reading through the different benefits that accrue to registered businesses. So which businesses are eligible for the registration process?
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.
But what defines an MSME in Nigeria? The business should have in employment 250 employees or less. Below is a proper break down so that you can tell which section your business belongs to.
a. Micro-Enterprise – Minimum of 1 and a maximum of 9 employees.
b. Small Enterprise – Minimum of 10 and a maximum of 49 employees.
c. Medium Enterprise – Minimum of 50 and a maximum of 2450 employees.
Which of these sections does your business belong to?
Why register to get a SMEDAN Certificate?
If you own an SME in Africa located in Nigeria then you must be wondering why you should register. There are tons of reasons including:
a. Access to training and funding programs organized by SMEDAN every year. Registration gives you priority status for each of these programs.
b. Access to all kinds of business support programs including empowerment, funding, and training.
c. Unique Identification Number
d. Business insurance.
e. 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.
How do you register to get the SMEDAN certificate and number?
The registration process is easy and straightforward. You don’t have to pay anyone a dime as you can do it from your smartphone. Check out the steps below:
Step 1 – Enter https://smedanregister.ng in your browser.
Step 2 – Fill the form on the next webpage that opens. 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.
There you go, that’s all there is to know about the SMEDAN certificate and how to register. Do you have any questions? Drop them in the comments section below.