SMEDAN unveils initiative to boost SMEs

SMEDAN unveils initiative to boost SMEs

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has launched the GROW Nigerian initiative to support the development and expansion of Small and Medium Enterprises (SMEs) across the country. GROW stands for Guidance, Resources, Opportunities, and Workforce Support, and serves as SMEDAN’s strategic framework to accelerate economic growth by empowering Micro, Small, and Medium Enterprises (MSMEs), particularly in critical sectors.

Speaking at a meeting with the Commerce and Industry Correspondents Association of Nigeria (CICAN) in Abuja, SMEDAN’s Director-General, Charles Odii, explained that the initiative is designed to address common challenges faced by SMEs, such as lack of funding, limited market access, inadequate skills, and insufficient infrastructure. By offering training, skills development, expert advice, mentorship, and strategic resources, the GROW initiative aims to enhance productivity, foster innovation, and improve operational efficiency and sustainability for small businesses.

In the first quarter of the year alone, over 90,000 jobs have been created through SMEDAN's various programs. Additionally, the initiative seeks to connect SMEs to broader markets by creating platforms for them to showcase their products and services. Odii emphasized that the core idea of GROW is that with the right support systems in place, SMEs can thrive and contribute meaningfully to Nigeria’s economic development.