The State Manager, Small and Medium Enterprises Development Agency of Nigeria- SMEDAN Prince Tomi Ikuomola who represented his Director General, Mr Olawale Fasanya, at the Develop Ondo 2.0 investment summit that came to conclusion today Wednesday 26th July, 2023 at the Dome. Spoke extensively on Human Capital Development as the first thing that was important to the Agency before funding the business of the Entrepreneurs who were in various business niche in the State and Nigeria as a whole.
Mr Ikuomola who said getting affordable finance to fund the small business is a critical. According to him, the Agency had partner with some of the Financial Institutions in the state for the purpose of facilitating credit facility for the SMES.
According to him, the Agency had established export clusters in the State where our local goods could be exported abroad. The Panellist also said that the security of the investment of any investor is the key to them whenever they made any commitment to any entrepreneur businesses.
However, the Manager of the SMEDAN in Ondo State also re emphasized that they had been in partnership with some of the financial Institutions and Bank of Industry-BOI in the state, to ensure that the SMES get funds at one digit interest to finance their business.
He said the summit was a great step taken by the government as it shows that the Government recognises the impact that the Small and Medium Enterprises -SMES has in the state and Nigeria as a whole, for bringing them on board as stakeholders and hearing them out, He said such steps is a welcome development. He talked about the grants opportunities that some of the start up Entrepreneurs could enjoy in order to boost their business.
Speaking on the opportunities the SMES could enjoy, Prince Ikuomola said recently , the Vice President, Alhaji Ibrahim Shettima made a statement during the World SMES celebration day, that the small business owners would have access to single digit funding very soon and that he is very sure that the plans would come via their Agency.
Also, on the stringent colleteral that the Bank of Industry -BOI are collecting, Prince Ikuomola said” it depends on the Bank and also, our Agency has a robust permeant relationship with the BOI and that they are making effort towards ensuring that ways of doing business would be made easy for the SMES.
Some of our SMES operators have been enjoying the services of the BOI and that we have been talking to them on the review of the collateral, so that it would be very easy for our Entrepreneur to access fund for the development of their businesses.