List of 11 New Grants In Nigeria 2022 For Small Businesses
List of 11 New Grants In Nigeria 2023 For Small Businesses.
Are you an entrepreneur who has already launched a business or who has a business plan that has not yet been put into action?
Do you believe that the business plan can contribute to the growth of the Nigerian economy, but you do not have the funds to get the business off the ground? If you answered “yes,” then this post was written specifically for you, as we will guide you through the maze of many different programmes, both public and private, that can give grants in Nigeria to individuals who are business minded.
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The term “grant” refers to an amount of money that is not refundable and that is being given by an organisation or the government to a company or an individual as assistance (support) for a course or project. This assistance (support) could be for purposes such as business, education, home improvements, health purposes, and so on. In other words, it is possible to refer to it as a donation, an allowance, or even an award.
Regarding this position, we will be looking into grants that are awarded for reasons related to business. Many people who are interested in business are being dissuaded from pursuing their unique business plans or ideas due to a lack of capital or an insufficient amount of fund to put the primary concept into action. It may come as something of a surprise to many people, but there are actually a number of different ways to get the financial backing required to launch that fantastic business idea. The vast majority of people, seeing no other choice, turn to borrowing money, even though there is no assurance they will be able to pay it back.
If you truly care about the longevity of your company, you should consider applying for a grant rather than taking out a loan in order to fund your operations. As a result of this possibility, the purpose of this post is to educate you on the accessibility and plausibility of acquiring grants in Nigeria.
Here are the 11 Grants in Nigeria 2023 For Business
Below is the list of available and trustworthy grants in Nigeria for business;
1. SMEDAN Grant For Entrepreneurs
Micro, Small, and Medium-Sized Enterprises (MSMEs) all over Nigeria and Africa are eligible to apply for a grant worth a total of one hundred thousand dollars thanks to the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN). To submit a grant application to SMEDAN, visit Steps on How to Apply for N5 Million BOA-SMEDAN Fund for Small Businesses to submit your application.
2. Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)
This is an annual grant programme that is geared more toward giving Nigerians a sense of agency. In point of fact, it was developed with the intention of assisting young people who have come up with an innovative concept for a business in realising their dreams by providing financial assistance to them.
In addition to providing financial assistance, AYEEN also runs a mentorship programme in which participants are instructed in skills relevant to the success of businesses. Depending on the type of business an entrepreneur plans to start, they may be eligible for grants ranging from thousands to millions of dollars to help them with their financial needs.
Requirements for Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)
- Beneficiaries must be a Nigerians that resides in the country.
- Must be 18 years and above.
- Have a dynamic business idea, or have an already established business.
How to Apply for Africa’s Young Entrepreneur Empowerment Nigeria (AYEEN)
- Visit the official portal of AYEEN via https://ayeonline.org/join/ to access the application form.
- Complete the form online, and then make sure it gets submitted.
- Look up their social media pages and follow them so you can get information straight from the source.
- You can either submit your business plan through this portal, or even better, you can fill out the J19 form.
- After completing the form, be sure to click the “submit” button.
- You will shortly receive an email with more information about the screening process. including both the date and the location.
- Make sure you show up on time for the screening exercise, and then you will have to wait to find out the results.
3. Shell LiveWire
This programme, which is a grant programme, got its start on March 27th, 2003, and continues to this day. It was actually started with the intention of assisting young people from the Niger Delta who are between the ages of 18 and 30 to make their business idea a reality.
Since it was first launched, Shell Livewire has provided financial assistance to three thousand three hundred (3300) businesses in the form of grants, and it has provided training opportunities for six thousand five hundred (6500) young people.
Requirements for Shell LiveWire
- It is required that you already have a successful and well-established business idea.
- Should be between the ages of 18 and 30 years old at the very most.
- Must have attended an entrepreneur training.
- Must originate from one of the states that make up the Niger Delta.
How to Apply for Shell LiveWire
The application process is quite easy, as all applicants are meant to fill a simple form online through the official webpage via https://www.shell.com.ng/
Please take note that the link provided above contains additional resources for you to peruse in the event that you require further investigation.
List of 11 New Grants In Nigeria 2023 For Small Businesses
4. Elumelu Foundation Entrepreneurship Programme
Elumelu, who serves as the Chief Executive Officer (CEO) of Heirs Holding, is the person responsible for the launch of this grant programme, which took place in the year 2015.
About seven thousand five hundred (7,500) different companies have benefited from this Grant up to this point, with the grand total amounting to twenty-five million dollars in United States currency.
Requirements for Elumelu
- You need to have the legal right to live and work in the African country where you are applying for this position.
- Your company has to have a physical presence in the nation.
- Either submit an application with a brand-new business concept or demonstrate that you already run a company that is less than three years old. Neither option is acceptable.
How to Apply for Elumelu
- Create an account on the official portal of the scheme, which is Elumelu Foundation Grant Application 2023 – www.tefconnect.com
- Fill the follow up form, then submit to await feedback.
5. GroFin Fund
One of the grants available to businesses in Nigeria is called the GroFin Fund. Individuals with an interest in business can apply for a grant through this programme, which places an emphasis on the nation’s small and medium enterprises (SMEs). This programme functions similarly to an empowerment scheme.
According to the available documentation, more than seven hundred different companies have benefited from GroFin Fund. The stipulated grant that can be applied for ranges from one hundred thousand United States Dollars ($100,000) to one million, five hundred thousand United States Dollars ($1,500,000).
What are the requirements for GroFin Fund
- It is necessary for the business idea to have some kind of impact on society.
- Businesses that fall within the scope of the following categories are eligible to receive financial support in the form of grants: recycling of waste; energy; health; education; water; sanitation; and agriculture.
- The applicant must be located in one of the countries in which GroFin Fund is active.
How to Apply for GroFin Fund
To apply, kindly visit http://www.grofin.com/ to apply online.
6. YouWin Connect Nigeria
Are you an entrepreneur who dreams of running a successful company but lacks the financial resources to make it a reality? YouWin Connect Nigeria is the programme that was developed specifically for this purpose, so it is the one that you should choose to participate in instead.
The programme is very active in funding young Nigerians to start their business, and it will also connect you with an expert in the chosen field who will help groom you positively, so that you can achieve maximum growth in the business that you are starting.
They always hold a programme that is similar to a competition, and at the conclusion of the competition, the winners are awarded grants.
What are the requirements
- Must be a Nigerian citizen between the ages of 18 and 40 and a maximum of 18 years old.
- Having graduated from a reputable college or university is a requirement.
Nigeria serves as both the home and workplace for all of the company’s employees.
- Check to see that you, as the applicant, are not employed by the government (Civil servant).
How to Apply for younwin
The application form can be accessed via https://apply.youwin.org.ng/ Applicants should follow the instructions and fill the required information
7. Lagos State Entrepreneurs Trust Fund
This Grant scheme is actually being created by the Lagos State Government, with the sole aim of supporting the residents of Lagos with funds that will help them either expand their personal businesses or start new ones from the ground up. It is only intended for people living in Lagos (those residing in Lagos).
After successfully combating poverty in both direct and indirect ways, the programme will unquestionably serve as a springboard to the creation of employment opportunities within the state.
The requirements to apply
- You need to call Lagos State your home.
- Must be between the ages of 18 and 35.
Your concept for a business ought to be centred on one of the following areas: amusement and recreation, health and wellness, building and manufacturing, and hospitality and tourism.
Steps on How to Apply
Interested applicants are to start up the registration process via https://lsetf.ng/
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8. Innovation Price for Africa
This grant platform is available to any and all Africans who have a profitable business idea in their possession.
What are the Requirements
- Applicants Must be an African.
- Expected to posses an analytic mindset.
- Should base fully in an African country.
How you can Apply
Interested entrepreneur are to register by visiting http://africaninnovation.org/
9. African Women Innovation & Entrepreneurship
This grant programme also covers the countries in Africa, but it is only open to women who are starting businesses. The programme is being established with the intention of fostering female leaders who are able to contribute to the expansion of Africans as a whole, particularly women who have exceptional business innovative and ideas.
11 Grants In Nigeria 2023 For Small Businesses
What are the Requirements
- Must be a female entrepreneur.
- Should not only have a physical presence in one of the African countries but also a legitimate company that operates there.
- Expected to have some sort of record of accomplishments.
How to Apply
Visit the official portal to fill the registration form via https://awief.awardsplatform.com/
10. National Youth Entrepreneurship Empowerment Summit
The Federal Government of Nigeria (FGN) has made it one of its goals to provide young people in Nigeria with the best possible training so that they can become productive members of society. Because of this, a programme was developed to provide young entrepreneurs with the training they need to acquire the skills that will help the economy of the country turn a corner toward a more favourable position.
What are the Requirements
- You are required to live in the country and have a company that is already functioning.
- The business plan or idea must provide assistance to one of the top nine (9) areas prioritised by the federal government.
- Should be between the ages of 18 and 35 years old at the very most.
- The company must be involved in one of the following fields: entertainment, dance, art, fashion and design, information and communications technology, theatre, culture, architectural design, or news and media.
How to Apply
- Ensure you upload a short video (not more than one minute) explaining your business idea on social media.
- Before posting the recorded video on any of the social media platforms, make you you tag NYEEsummit.
- Also, ensure you input the following hashtags; #NYEESCREATIVES and #NYEES.
You have successfully applied for the grant by following the steps outlined above; now all that is left to do is wait for word on whether or not you are qualified.
11 Grants In Nigeria 2023 For Small Businesses
11. Bank of Industry (BOI)
The Federal Government of Nigeria uses BOI to support SME’s in the whole federation. Although the funds issued to interested applicants are in the form of soft loans, which will in turn boost the growth of their business.
What are the Requirements?
- Only business owners who have their companies registered are allowed to submit an application.
- Must be between the ages of 18 and 35 to apply.
- The applicant is expected to present a well-developed business idea that demonstrates the idea’s potential for profitability.
How to Apply
Offline submission of applications is currently being conducted. To submit your application, all that is required of you is to go to any branch of the BOI that is located near you.
The pleasure is ours to inform you that there are several Grants platforms where entrepreneurs can easily get support in actualizing their business ideas; however, the schemes and programmes that have been mentioned above are the top 10 that we have compiled for you.
New Grants In Nigeria 2023 For Small Businesses
If you are an entrepreneur who has been hampered because of a lack of funds to start up your dream business, it will be nice if you start applying from the options because it will give you more opportunities.
It would be helpful if you shared this post with your friends and family, especially if they are the type of people who might find the information useful.
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