Here is a Detail Break Down of How You Can Access MSMEs Survival Fund
You can now start registering for the National Micro, Small and Medium Enterprises (MSMEs) Survival Fund instituted by the Federal Government to help small businesses and individuals impacted by COVID-19.
To access survival fund registration portal log on to https://survivalfund.ng
According to Laolu Akande, the Senior Special Assistant on Media and Publicity to the President (Office of the Vice President), “Next week, we are starting the survival fund, which is a part of this plan. From next week, it will be available and people who are potential beneficiaries will be able to get more information on https://survivalfund.ng.”
He said from next week, “the website https://survivalfund.ng will be open for Nigerians who have MSMEs or who are artisans, plumbers, electricians, transport workers, private school teachers or who belong to different categories under the survival fund.”
About 45 percent of beneficiaries of the program are expected to be female-owned businesses while 5 percent is allocated to persons with special needs.
The survival fund includes payroll support for three months, and a guaranteed offtake scheme among others, all under the National Economic Sustainability Plan (NESP).
The Federal Government plans to reach around 1.7 million individuals and businesses through the program.
How to Benefit from MSMEs Survival Fund.
To benefit from National MSMEs Survival Fund, your business must:
—Be Nigerian-owned
—Be CAC-registered
—Business owner must have a BVN
—Staff strength of not less than 10 for Payroll Support and 3 for GoS.
Eligibility for the survival fund Nigeria
To qualify for Survival Fund Nigeria, applicants must meet the following requirements:
- For employers of MSMEs
- All the beneficiaries companies must be registered under the Corporate Affairs Commission (CAC).
- Must have staff capacity of not less than 3 persons,
- All the eligible enterprises must be owned by a Nigerian and located in Nigeria.
- Must have BVN.
- Self-Employed Individuals in the following categories
- Service Providers in the transportation sector, i.e bus drivers, taxi drivers, ride share drivers (Uber, Bolt. etc) and Mechanics.
- Artisans: Electricians, Plumbers, etc.
Application portal opening date
The portal will open on Monday, 21st September 2020
Survivalfund.ng Portal
The MSME Survival Fund registration portal is survivalfund.ng. Registration for the National MSMEs Survival Fund will begin on Monday, 21st September 2020.
MSME Survival Fund Registration Portal & Information.
Under the National Survival Fund is a Payroll Support Scheme, vulnerable registered businesses will be supported in meeting their payroll obligations of between N30,000 to N50,000 per employee to safeguard the jobs of a maximum of 10 employees over a 3-month period.
In addition to registered businesses, the National MSMEs Survival Fund will also cater to a second category of Nigerians: the Self-employed, including:
- Service providers in the transportation sector, i.e. Bus/Taxi drivers, Rideshare drivers, Auto-Mechanics
- Artisans (Electricians Plumbers etc).
