Kilsah Consulting has awarded a business support grant of N2 million to six small business owners in Nigeria.
Founder, Kilsah Consulting, Elfreda Sheriff, while speaking at the 2022 Small Business Luncheon/Grant Award in Lagos on Thursday, said her organisation identified that most small businesses lack access to finance in order to grow.
“The idea is to give small businesses access to finance because we know that access to finance is the top obstacle that affects small businesses growth and this is especially for women entrepreneurs who face more obstacles when trying to access finance whether it is through the traditional loan method or any other method. The whole idea is to be a full-fledged small business support firm where we provide them access to finance, training, mentoring and access to the market,” Mrs Sheriff said.
She said the basis for accessing the grant is for the business to be registered with the Corporate Affairs Commission (CAC), which would make the business a legal entity.
“The criterion is that they should be registered with the CAC because we feel that provides some sort of structure. The idea is also for us to help them grow from informal to formal. A good start for that process is for them to be a legal entity,” she added.
Managing Director of Primera Microfinance Bank, Unwana Esang, who was Guest Speaker at the Kilsah Consulting 2022 Small Business Luncheon/Grant Award, advised small business owners not to throw in the towel in the face of challenges.
“My message to small business owners is never give up, never stop growing. Always do everything possible to improve the quality of your craft, the quality of your product and service. Continue to build structures around your business. Ensure strong corporate governance because that is what makes you attractive as a business owner to stakeholders whether they are customers, investors or regulators,” he said.
The beneficiaries expressed appreciation to Kilsah for the training and financial grant, which they said would spur them to work hard in growing their businesses.
“I feel very excited. My expertise, experience, impact and innovation are what qualify me for the grant. I’m going to use the grant to expand my production capacity, create employment and that will grow the GDP of the Nigerian economy,” one of the beneficiaries, Judith Idialu of BigFarm Foods Ltd, said.
Also speaking, Abolanle Adeniyi of Depeju Foods said, “We are going to get a continuous bag sealer to make our production neater and faster because presently we are using the small sealing machine which causes leakages.”
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