Every business idea always sounds brilliant when there is enough funds to push it through. Doing business in Nigeria is one task, seeing the business grow into a success story is another game altogether.

We can’t deny the fact that we need money to fund our businesses, especially in a country like Nigeria with so much competition here and there. For the past few weeks we have been talking about different loans or credit facilities; hope you guys have been participating though.

MUST READ: About Trader Moni 2021 Registration & How To Apply For Loans

If you have a brilliant business idea, who knows? you may just be the next fortunate entrepreneur. Now here is all you need to know about SMEDAN.

SMEDAN (Small & Medium Enterprises development agency of Nigeria)

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. Registering your business with SMEDAN comes with lots of benefits, including access to funding opportunities, and support from both the private sector and Government.

Below Are The Mandates Of SMEDAN

  • Stimulating, monitoring and coordinating the development of the MSMEs sub-sector;
  • Initiating and articulating policy ideas for small and medium enterprises growth and development;
  • Promoting and facilitating development programmes, instruments and support services to accelerate the development and modernization of MSME operations;
  • Serving as vanguard for rural industrialization, poverty reduction, job creation and enhanced livelihoods;
  • Linking MSMEs to internal and external sources of finance, appropriate technology, technical skills as well as to large enterprises;
  • Promoting and providing access to industrial infrastructures such as layouts, incubators, industrial parks;
  • Intermediating between MSMEs and Government [SMEDAN is the voice of the MSMEs];
  • Working in contact with other institutions in both public and private sector to create a good enabling environment of business in general, and MSME activities in particular.

Difference Between SMEDAN & CAC:

While some may have assumed there are no much differences between these two, well, SMEDAN stands for Small and Medium Enterprises Development Agency of Nigeria while CAC known as Corporate Affairs Commission was formulated to regulate the formation and management of companies in Nigeria. It is endorsed with the power of creating legality out of small and medium businesses.

Who Is SMEDAN For?

SMEDAN registration opens up funding support access to MSMEs and self-employed Nigerians – tailors, hoteliers, tech startups, freelancers, restaurant. More so, MSMEs could get links with reference from SMEDAN to benefit from loans and other lending services.

The registration is to source for, build and maintain a broad valid database of MSMEs in Nigeria as they attempt to tailor custom support to MSMEs who operate unofficially. The database will further provide the agency with a track for funding and financial empowerment as well as entrepreneurship training programs.

How To Register For SMEDAN

Just before registration, note that the SMEDAN registration program promises an electronic certificate that bears a SMEDAN Unique Identification Number (SUIN)

To register your business on SMEDAN, you are expected to:

  • Go to their official website at https://smedan.gov.ng/
  • Fill the form the comes up next
  • Provide all details – name, email, business details, BVN – in the form that comes up next
  • Exit from that page and go back to the SMEDAN homepage
  • Enter your login details (the email used in creating the account and the password) to view your certificate
  • You will receive an email shortly confirming your SMEDAN registration.

Please only apply via their official portal. Be careful and make sure you confirm you are supplying your details to the right website. We are not affiliated with them.

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