Shared Facility Scheme: An Innovative Way of Helping Small Businesses By Nigerian Government

Are you contemplating shutting down your business. What’s that thing making you consider closing your business. Is it quality operation facilities?

Is it the issue of not having enough business connections or partners? Could it be because of the cost of running your business? The reasons abound.

However, the good news is that the federal government has inaugurated a shared facility scheme that focuses on micro, small and medium enterprises (MSMEs) in Nigeria. This scheme targets over 1500 MSMEs across the country.

BENEFITS

  • Broadband Connection

The first benefit of this scheme is larger broadband connectivity for your business. The scheme brings you in contact with like minds in your industry.

Spillover of ideas, infrastructural transfer, and more business opportunities are ensured. Your business will be expoy to a larger market as you interfere with other businesses in your sector.

  • Access to High-Quality Operating Equipment

The government, through the scheme, will provide most of the equipment needed for the smooth operation of your business. The quality of your business output will therefore be enhanced with high-quality operating equipment.

  • Constant Electricity

No business can thrive without a constant power supply. The facilities will receive a constant electric supply. The government also promised to ensure that the power supply to the facilities is constant.

  • Reduction in Overhead Cost

Most businesses don’t last because of unbearable overhead costs. The overhead cost for your business will be reduced as the government will bear a larger portion of the overhead cost for the management of the facilities. Overhead Cost for your business is thus reduced.

Stakeholders In the Project

The project is executed in partnership with important agencies and parastatals of the federal government.

Some of the agencies include the Central Bank of Nigeria (CBN), Bank of Industry (BOI), Nigerian Export and Import Bank (NEXIM), and the Development Bank of Nigeria (DBN) to mention a few.

Previous Successes

The successes recorded in previous similar schemes suggest that the present version will be a success. In 2018, the federal government introduced a shared facility scheme for shea butter and garment production.

A similar scheme birthed in Bauchi in 2019 recorded huge success. Zaki Biam International Yam Market storage facility built-in 2020 is also a brainchild of the scheme.

Lastly, the Lagos fashion cluster facility of 2020 was also founded owing largely to the federal government shared facility scheme.

Conclusion

Any micro, small or medium scale business with about 5 workers or more should enroll in the scheme taking advantage of the scheme to grow their business.

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