SMEDAN Registration: You must have heard about SMEDAN and you are wondering, how do I register? This article is for you as we shall discuss everything concerning SMEDAN.
Lack of access to corporate finance facilities from banks and other financial institutions has always been a significant issue in a large economy like Nigeria where most businesses are driven by medium and small enterprises.
Through the SMEDAN Agency, the government assists small and medium-sized businesses in their operations.
About SMEDAN
SMEDAN is the Small and Medium Enterprises Development Agency of Nigeria.
SMEDAN was founded in 2003 to assist Micro, Small, and Medium Enterprises (MSMEs) in their daily operations by giving them grants and loans, as well as by promoting, assisting, and creating an environment that is favorable to business.
Benefits of SMEDAN Registration to your Business
SMEDAN registration gives you access to a wealth of never-before-seen opportunities and support.
Here are a few perks you stand to get simply by joining your business with SMEDAN:
1. Connects you with other businesses
2. Connects you to the private sector
3. Access to training
5. Access to cheap government loans
6. Improves visibility
7. Keeps you up to date with new industry happenings
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Requirements SMEDAN Registration for Your Business
You must fulfill certain requirements before registering your business with SMEDAN.
The following prerequisites and demands must be satisfied by you, the proprietor or proprietress, for SMEDAN registration:
1. You must be Nigerian
2. You must register SME with CAC and other relevant authorities
3. You must live in Nigeria
4. BVN of the proprietor(ess)
5. You must be between 18-45 years old
6. Valid government-issued identification, e.g International passport, NIN, Voters’ card, or Drivers License
7. Valid email and phone number
Step-by-step Guide For SMEDAN Registration
The procedure of registering your company with SMEDAN is really easy and straightforward. It takes a few minutes to complete.
Here is a step-by-step tutorial for SMEDAN registration:
Account Creation
1. Business Name
2. Phone number
3. Email Address
4. Password
Business Information
1. Starting date of the company – When did your company begin?
2. Address of the Business State and Local Government
3. Business premises are the locations of the business, such as a farm, house, mall, market, or internet store.
4. Website of the business, if one exists Business type: sole proprietorship, limited partnership, or limited liability
5. Do you have a CAC registration? No or Yes.
6. Business categories with assets less than 1m, 1m–5m
7. Business type and the number of employees you have
Business Owner Information
1. Your Name
2. Position: Your place in the company
3. Gender
4. Address of your residence
5. Call-in number
6. Address for an active email
7. Number of Bank Verification
8. Do you have a different mate?
Business Description
- Commercial Industry
2. Specific business area
Then send your SMEDAN Application form to your email and wait a few days for your SUIN SMEDAN number.
Uses of SMEDAN Certificate and Number
1. You can submit a loan application using the SMEDAN certificate and number.
2. The government funding program is a typical illustration (Survival Fund).
3. You can get loans from the private sector and help funds both inside and outside of Nigeria.
Controlling and directing the expansion of Micro Small and Medium Enterprises MSMEs in Nigeria is the responsibility of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
All Nigerian business owners must register under a scheme that was launched last year to receive their SMEDAN number.
This will allow them to take advantage of many government programs that encourage MSMEs.
You will receive an electronic certificate bearing a SMEDAN Unique Identification Number after successfully registering for SMEDAN (SUIN).
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