In effort to assist small and medium scale entrepreneurs (SME) to grow, Government sometime provide small business grants in various forms. These funds can be accessed by those who meet certain criteria as stipulated by the government or the agencies involved.
How can you have access to these federal small business grants to help you start your business or push your existing business to the next level? Here I want to point out few things you must do to be able to access federal grants.
1. Prepare A Business Plan – You must have a robust business plan (what some people called bankable business plan) in place. Without proper business plan, there is no way you would be able to convince anybody about your business idea let alone government. Your business plan represent your preparedness towards the business – the more robust your plan is, the more serious investors and grantors will take you.
2. Belong To A Co-operative – Most times, those funds are being disbursed through various cooperatives. If you don’t belong to any, you may find yourselves outside the scheme of things. There are various cooperative societies for Farmers, Traders, Manufactures, etc… Find the one that is most suited to your need and join. Make sure to be active member and always be in the know.
There are many schemes and grants by the federal government that is currently ongoing. Sure-P Graduate Internship Scheme (GIS) which is established as part of the Subsidy Reinvestment and Empowerment Program. If you are looking for skill development, seek for information on how to become part of this scheme.
Some corporate organizations as part of their corporate responsibilities also make grants available to small business startups from time to time. Look out for these ones and see how far it goes.
YouWin is ongoing too. If you are between the ages of 18 – 40 and have a robust business plan for a business that will operate in Nigeria and employ Nigerians, you can apply.