This is all you need to know on the National MSMEs survival fund application portal and also other related necessary requirements which have been adequately explained in this article.
National MSMEs’ survival fund application portal is opened to all Nigerians who are interested in the scheme.
The National survival fund is a support payroll scheme, reliable registered businesses that meet up their payroll obligations of about N 30,000 to N 50,000 per employee in other to safeguard the jobs of a maximum of 10 employees over a space of 3 months.
The National MSMEs survival fund application portal has some eligibility criteria and ways to benefits from the survival fund which your businesses must have:
- Your businesses must be owned by a Nigerian
- You must register your business with the Corporate Affairs Commission (CAC)
- All business owner must have a BVN
- Your staff strength should not be less than 10 for payroll support.
About the MSMEs Award
The purpose and objectives of the National MSMEs survival fund application portal is a platform that supports and also protects businesses from the vulnerability caused by the COVID-19 pandemic.
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The program is practically designed as part of the economic sustainability plan to support businesses that are affected.
Eligible Countries: Nigeria
The guidelines on how to access the multi-billion naira survival fund for MSMEs have been released by the Federal Government, which took effect on the 21st Sep 2020.
The National MSMEs survival fund application portal was disclosed in an official statement by the Federal Government through a series of posts on its official Twitter handle.
The statement has been posted on the official Twitter handle, “ As the portal for the registration of prospective beneficiaries of survival fund opens, interested Nigerians in the payroll support scheme are to note that the site will open from 10 pm Monday, September 21, 2020.”
It is clearly stated that the registration for the payroll support is going, to begin with, the educational institutions on Monday 21st September 2020.
And will be followed by businesses in the hospitality industry by midnight on Friday, September 25th, 2020.
The opening for other categories of small businesses would commence on Monday the 28th of Sep 2020.
And it should also be noted that the preparation of the registration for prospective beneficiaries is to ensure that the process is simple.
For every sector, the registration would continue until the 15th of Oct 2020.
The beneficiaries are likely to make available personal registration details, activate their account, and as well as registering their organization as part of the registration process.
Why the MsMe Program?
The National Survival Fund is planned to help Nigerian MSMEs survive the COVID – 19 shock and its negative effects on the economy.
It would ensure that 45% of the beneficiaries are women owned companies and 5% are owned by people with special needs.
In order to benefit from the Survival Fund of the National MSMEs, your company must:
- Be Nigerian-owned
- Be CAC-enrolled
- The business owner must have a BVN.
- For Payroll Support and 3 for GoS, staff strength of not less than 10.
Under the Payroll Support Scheme, the National Survival Fund, vulnerable registered companies will be aided in fulfilling their payroll obligations of between N30,000 and N50,000 per employee.
How to Apply
If you want to apply for the payroll support and the guaranteed off-take scheme, then click below to fill and submit your application form and also get more information about the initiatives.
Visit the Official Website: https://survivalfund.ng/
Some of the documents needed include:
- Corporate Affairs Commission (CAC) number
- Bank Verification Number (BVN)
- SMEDAN Number
- The organization’s bank account details.
Some personal data needed include:
- First Name and Last Name
- Email, mobile number, and Password as well
- Date of Birth and Residential Address
- State of Origin
The National MSMEs survival fund application scheme is targeted on saving at least 1.3 million jobs across the country and also having a definite impact on over 35,000 personalities per state.
The implementation ranges over an initial period of 3 months and is targeted at employees of MSMEs and self-employed individuals with 45% of female business involvement and 5% for special needs.
Aside from the National MSMEs survival fund, there is another formalization support for about 250,000 businesses in Nigeria that would be offered a CAC business name for free.
It has also been stated clearly, that according to the HMS @TradeInvestNG, every State in Nigeria including the FCT would be a beneficiary to the MSMEs survival fund.
A special focus would be given to Lagos, Kano, and Abia State. At the same time, no state would be left out.