All SMEs in Africa need both financial and intellectual support to take their businesses to the next level. This is why the Nigerian Federal Government created the survival fund scheme to help Nigerian SMEs that register with SMEDAN. Furthermore, Nigerian MSMEs that are registered with SMEDAN can also enjoy the MSMEs mass registration program currently taking place in the country.
There are several benefits you stand to gain when you register your small business with SMEDAN. One of these benefits is that you will be given your SMEDAN registration number. This unique number gives you access to several financial support schemes and training that have been specially crafted for Nigerian SMEs.
In this post, we will help guide you on how you can get your SMEDAN registration number.
What You Need To Know About SMEDAN Unique Identification Number
There are several things that you need to put in place to be eligible to access the many financial and intellectual support schemes for Nigerian SMEs. One of the things required is a SMEDAN Unique Identification Number. Other things you will need include the bank account details of your business and your CAC (Corporate Affairs Commission) number.
Otherwise referred to by its acronym SUIN, the SMEDAN unique identification Number gives you access to the empowerment and entrepreneurship training schemes organised by the Nigerian federal government. For instance, you will need your SMEDAN registration number to access the SMEDAN’s CGS (Conditional Grant Scheme) for both medium-scale and small-scale enterprises. This scheme allows registered MSMEs to access up to N50,000 conditional grants to enhance the growth of their businesses. As time goes on, you will be given your SMEDAN ID, which will allow you to access larger MSMEs financial support programs.
The role of financial support schemes and training programs in enhancing the development of all SMEs in Africa cannot be underestimated. Hence, the reason why getting your business registered with SMEDAN should be considered a smart move. After registration, you will be given your SMEDAN registration number and SMEDAN ID which gives you access to access all the benefits of registering under SMEDAN. The best part is that you don’t need to pay for SMEDAN registration.
How To Get Your Unique SMEDAN Registration Number
Here is a step by step guide to help you get your unique SMEDAN registration number:
· Visit the official SMEDAN registration website to register your business.
· Fill the form by providing your personal and business information such as Name, Business Details, BVN, etc.
· Once you are done with your registration, exit the page and go to SMEDAN’s homepage.
· Log in with your email (the one you used on the registration form) and password to gain access to your certificate.
· An email that confirms your registration will be sent to you, including your SMEDAN Unique Identification Number.
Other information you will need to provide on your registration form include:
· CAC registration Status
· The service or products offered by your business
· The asset value of your business
· The number of staff employed by your business
· The type of business your run
· The date you started the business
These are just a few pieces of information you need to have at hand before going ahead with your SMEDAN registration.
Advantages Of Having A SMEDAN Registration Number
Your unique SMEDAN registration number gives you access to enjoy several support benefits that are made available for Nigerian SMEs. Here are a few things you stand to enjoy when you have your SMEDAN registration number:
· Access Specially Crafted Msme Training Programs:
Your SMEDAN Unique Identification Number gives you access to tons of entrepreneurship training programs that have been specially crafted to help Nigerian SMEs grow. There are varieties of training ranging from digital marketing to capacity building that is crucial to the development of your business that has been included in these training programs. Hence, getting your SUIN opens you up to a world where you can unlock the full potential of your business by utilising these training programs.
· Access To SMEDAN’S CGS:
The conditional grant scheme organised by SMEDAN for Nigerian SMEs aims to help these businesses gain the financial support needed for business sustenance. Your SMEDAN Unique Identification Number gives you access to this conditional grant which is about N50,000. Let’s face it, all SMEs around the world, including the SMEs in Africa would appreciate any form of financial support they get.
· Access To Private Priority Funding Programs:
Aside from accessing Nigeria Federal Government support schemes for MSMEs, your SUIN gives you access to several private priority funding schemes. This includes priority funding from International Funding Agencies.
There are lots of benefits that you stand to enjoy with your SMEDAN registration number and these are just a few of them.
SMEDAN Registration Number Eligibility Criteria
After reading through the many benefits your business stands to gain with a SMEDAN registration number, you may be wondering if you are eligible or not. You should know that the eligibility criteria to enjoy SMEDAN’s benefits are quite simple and easy. Truth be told, anyone with a micro-scale, small-scale, or medium-scale business can apply.
As long as your business falls under the Nigeria MSME category, you are eligible to register with SMEDAN to secure your SMEDAN Unique Identification Number. As long as your business has about 250 employees or lower, you fall under the Nigeria MSME category. This implies that even if you are your only employee, you can still get your SUIN.
This implies that all business types ranging from fashion designing to manufacturing that fall under the Nigerian MSME category are eligible to secure a SMEDAN registration number. The SMEDAN MSME mass registration program is aimed at developing a comprehensive database of all MSMEs in Nigeria.
Getting your SMEDAN registration number gives you access to several benefits that many SMEs in Africa dream of. One of these benefits includes protecting your business with Bank Insurance. Your SMEDAN registration number also gives you access to uniquely crafted entrepreneurship training programs and empowerment schemes. This way, your business has access to all the support it needs to grow and succeed.