Firm awards N2m grant to SMEs
Kilsah Consulting, a business development service, has awarded a business support grant of N2 million to six Small and Medium Enterprises (SMEs) owners.
Mrs Elfreda Sheriff, Founder, Kilsah Consulting, said this in a statement on Sunday in Lagos.
Sheriff said that most SMEs lacked credit facilities to under take operations.
“The idea is to give small businesses access to finance because we know that access to finance is the top obstacle that affects small businesses growth.
“This is especially for women entrepreneurs who face more obstacles when trying to access finance whether it is through the traditional loan method or any other method.
“The whole idea is to be a full-fledged small business support firm where we provide them access to finance, training, mentoring and access to the market,” Sheriff said.
She said the basis for accessing the grant was for the business to be registered with the Corporate Affairs Commission (CAC), which would make the business a legal entity.
“The criterion is that they should be registered with the CAC because we feel that provides some sort of structure, and we will help them grow from informal to formal.
“A good start for that process is for them to be a legal entity,” she added.
Also, the Managing Director of Primera Microfinance Bank, Mr Unwana Esang, enjoined small business owners not to throw in the towel in the face of challenges.
“My message to small business owners is never give up, never stop growing. Always do everything possible to improve the quality of your craft, the quality of your product and service.
“Continue to build structures around your business. Ensure strong corporate governance because that is what makes you attractive as a business owner to stakeholders whether they are customers, investors or regulators,” he said.
The beneficiaries expressed appreciation to Kilsah for the training and financial grant, which they said would spur them to work hard in growing their businesses.
A beneficiary, Judith Idialu of BigFarm Foods Ltd., said that she would use the grant to expand her production capacity, create employment that would grow the Gross Domestic Product.
“I feel very excited. My expertise, experience, impact and innovation are what qualified me for the grant,” she said.
Also speaking, Abolanle Adeniyi of Depeju Foods, said with the grant, they would get a continuous bag sealer to make their production neater and faster as they are presently using the small sealing machine which causes leakages.
