MSME Survival Fund for Payroll Support 2020 Link www.survivalfund.ng: The MSME Survival Fund is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector. Visit www.survivalfund.ng for registration details.
The SurvivalFund.NG grant has been designed to cushion the effect of the Coronavirus pandemic on the most vulnerable MSMEs across Nigeria. Targeting 1.7 million individuals and entities across Nigeria.
Federal Government of Nigeria Micro, Small and Medium Enterprises (MSMEs) MSMEs Survival Fund Scheme Application Form Portal will opened from September 21, 2020 apply here. Are you looking for where to get capital or Loan to uplift your business or were your Business affected by COVID 19, your financial freedom is here. Read more below.
Recently, the Federal Government has announced the nationwide implementation of two MSMEs Initiatives namely; the MSMEs Survival Fund with the Payroll support track as the first scheme to rollout (50 Billion Naira) and the Guaranteed Off take Scheme (15 Billion Naira). Register here.
At the end of this post I will provide for the application link portal where you can apply/register for MSMEs Survival Fund Scheme 2020/2021. You can only apply starting from Monday 21st September for all Nigerians.
MSME Survival Fund for Payroll Support 2020.
The MSME Survival Fund is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector. The scheme is estimated to save not less than 1.3million jobs across the country and specifically impact on over 35,000 individuals per state.
Duration: The scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic.
Target Beneficiaries: The scheme targets two categories of beneficiaries namely; employees of MSMEs and Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.
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Who can benefit from SurvivalFund.NG?
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 608.
In addition to registered businesses, SurvivalFund.NG will also cater to a second category of Nigerians: the SeIf-employed, including: Service providers in the transportation sector, i.e. Bus/Taxi drivers, Rideshare drivers, Auto-Mechanics, Artisans (Electricians Plumbers etc)
As part of SurvivalFund.NG, Nigeria Government will also fully cover the cost of cac Nigeria registration for 250,000 new business names.
Application opening day: 21st September 2020
How MSME Survival Fund for Payroll Support 2020 can help you
- Support 500,000 vulnerable MSMEs in meeting payroll obligation of between N30,000 TO 50,000 per employee in 3 months
- Provide free CAC Business name registration for 250,000 new businesses
- Support the survival of 100,000 business most affected by COVID-19 Pandemic with N50,000 each.
Please note better; if you have Micro or Small Businesses registered in Nigeria you can apply for MSMEs Survival Fund Scheme 2020/2021.
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Features of MSME Survival Fund for Payroll Support 2020.
- Payroll Support: Support 500,000 vulnerable MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over 3 months
- Formalisation Support: provide free CAC Business Name registration for 250,000 new businesses
- General Grant: Support the survival of 100,000 businesses most affected by the COVID-19 pandemic with N50,000 each
- Artisan/Transport Support: provide 333,000 artisans and transport business operators with a N30,000 operations grant to reduce the effects of income loss
- Guaranteed Offtake Scheme: Bulk purchase of products from 100,000 MSMEs to protect jobs and livelihood
GUARANTEED OFF-TAKE STIMULUS SCHEME
This scheme will protect and sustain the income of vulnerable Micro and Small Enterprises from the economic disruptions of the COVID-19 pandemic through the implementation of various initiatives aimed at boosting the production capacities of the small businesses as well as provision of grants.
The main objective of this particular scheme is to boost production capabilities of small businesses with the view to ensuring that they remain in business
Duration: The duration of implementation will be same as the payroll support Target Beneficiaries: Micro and Small businesses registered in Nigeria.
How to apply for Survival Fund on www.survivalfund.ng
Interested and eligible Nigerians should visit: www.survivalfund.ng
NOTE: Registration for Payroll Support Begins on 21st September 2020.
Once again, Registration for Payroll Support Begins on 21st September 2020
visit www.survivalfund.ng for registration details.