This Is Where The Funds Are Located For Nigerian Startups

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) was established by the SMEDAN Act of 2003 to promote the development of the MSME sector of the Nigeria Economy. The Agency positions itself as a “One Stop Shop” for Micro, Small and Medium Enterprises Development. Micro Enterprises are included in the clientele of the Agency since they form the bedrock for SME’s

VISION
To establish a structured and efficient micro, small and medium enterprises sector that will enhance sustainable economic development of Nigeria

MISSION
To facilitate the access of micro, small and medium entrepreneurs/investors to all resources required for their developent. Justification for our existence. Poverty, due to lack of access to incom-earning opportunities and lack of capacity to take advantage of the opportunities, is a social malaise that is threatening global prosperity in general and national economi growth and development in particular. a well developed MSMEs sector has proven to be one of the most veritable channels to combat poverty. The establishment of SMEDAN is therefore justified by the need to trigger the development of Nigeria’s MSMEs in a structured and efficient manner.

FUNCTIONS

The functions of SMEDAN as contained in the enabling Act can be summarized as follows:

• Stimulating, Monitoring and Coordinating the development of the MSMEs sector,

• Initiating and articulating policy ideas for micro, small and medium enterprises growth and development,

• Promoting and facilitating development programmes, instruments and support services to accelerate the development and modernization of MSME operation.

• Serving as vanguard for rural industrialization, poverty reduction, job creatioin and enhance sustainable livelihoods.

• Linking SMEs to internal and external sources of finance, appropriate technology, technical skills as well as to large enterprises.

• promoting information and providing access to industrial infrastructure such as layouts, incubators, industrial parks.

Intermediating between MSMEs and the Government. SMEDAN is the voice of the MSMEs.
Working in concert with other institutions in both public and private sectors to create a good enabling environment of businesses in general, and MSME activities in particular

THOSE SERVED
Our target beneficiaries include:

Micro, Small and Medium Enterprises
Prospective entrepreneur
SMEs support institutions
Non-Governmental Organization (NGOs) and Business Membership Organization (BMOs) in the MSME sub-sector of the economy.
The Federal Government (through a functional feedback mechanism)