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Thursday, December 8, 2022

Think Entrepreneurship: Orientations and SME’s survival (8)

By Abosede Ajala

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Startups:

The issue of not running after white collar jobs and to be self-employed leads to the establishment of National Directorate of Employment (NDE), by then the Babangida Administrator in November 22, 1986 but kicked off in January 1987,following a compelling necessity for the establishment of a permanent organizational mechanism to tackle the problem of unemployment in Nigeria.   This gives room to an average Nigerians who are willing and ready to become an entrepreneur, who will in turn contribute to the economic growth of the nation.

The startups is majorly linked up with National Directorate of Employment (NDE) that is one of the Federal Government efforts towards encouraging the survival and development of small scale businesses.  The programme is targeted at providing skills/trainings and loans to enable young graduates establish their own businesses.  The loan is the startups also known as the starter pack.  The trainees can assess this loan aside other banks loans, cooperative loans, personal savings etc.

Startups by NDE is to assist the youth/graduates to be able to establish their own business, this is situated in almost all the state capitalsin Nigeria and the Federal Government is not relenting in making sure that NDE is able to reach the youth/graduates at all levels even in the grassroots.  This is real, visit their offices nearest to you to actualize your dream/vision.  NDE is not the only Directorate that are functioning in this capacity, there are other directorate that are designated towards eradicating poverty hence the government of this nation is working tirelessly to make sure that the youth and others are not left out and that there be stability in the growth of the nation’s economy.

The hope of strengthening micro, small and medium enterprises/businesses are reassured by President Muhammadu Buhari.  Recently at the 17th Abuja international Trade Fair representing the President, Minister of Industry, Trade and Investment, Otunba Niyi Adebayo said that the ministry has developed a programme that will enhance the SME’s access to this soft loan for over 10 million MSME’s at a single digit rate.

Moreso, government is keen to help MSME’s to achieve their full potentials and has developed strategic policy interventions, enshrined laws and established institutions to create a supportive business environment for entrepreneurs/business owners and to become business owners.The Central Bank of Nigeria has also established small and medium enterprises credit guarantee scheme for promoting access to credit by SME’s.  The scheme have a fund of N200 billion through the bank to be accessed by SME’s this is to fast-track the development of the manufacturing SME’s sectors.  Therefore, there are so many outlets from government to give a startup to a ready business owners or an entrepreneur to be, find out and make huge success of it.

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