The Lagos State Employment Trust Fund (LSETF) and GIZ SEDIN in partnership with Fate Foundation recently launched a Business Entry Guide for businesses in Fashion, Poultry and Plastic Waste Recycling.
The aim of the partnership is to gather, co-create and sensitize MSMEs in Lagos State on important regulations affecting their business operations; as well as other relevant information regarding entry, start up costs, available funding options, business associations/cooperatives and markets for products or services in select sectors.
It also provides relevant information on support and opportunities for returning migrants and women in Lagos State.
The Business Entry Guide was officially launched by the Permanent Secretary, Lagos State Ministry of Commerce, Industry and Cooperatives, Mrs. Oluremi Ososanya and it captures all that MSMEs in the selected sectors need to know.
In her remarks, PS stated that; “Having this information at a fingertip cannot be undermined to the growth of MSMEs.
It is an initiative that is long overdue and we appreciate the efforts in making it a realization. It is the beginning of more initiatives as we are looking at how to have the database of MSMEs in Lagos State to help businesses and investors”.
The LSETF Director, Strategy, Funding and Stakeholder Management, Sheila Ojei, who gave the opening remark on behalf of Executive Secretary, LSETF, Teju Abisoye, stated that the booklet serves as a practical guide for start-ups and early-stage businesses in Lagos State.
She added that more entrepreneurs can get the information needed and by extension, we can have more businesses which will result to more job creation. By this, we are contributing to solving the unemployment challenge in Lagos State.
While making her presentation, Digital Product Manager, Fate Foundation, Oluchi Johnson-Achibiri, stated that the Business Entry Guides were developed to provide useful and indepth information about entry requirements for the sectors and entrepreneurs looking to break into any of the sectors should consider the guide a necessary document for their business.
State Coordinator & Policy Adviser, GIZ-SEDIN, Chinazo Okoye in her closing remark stated that GIZ SEDIN is committed to ensuring the income situation of MSMEs is improved and hopes to work with the MSMEs whose works are significant in creating employment and curating descent jobs.
The business entry guides were developed to provide start-ups in the identified sectors with tools to assist them in the development phase of their business.
The guides briefly outline the value chain, legal and regulatory requirements of starting a business; start-up costs; relevant markets and entry requirements; certifications, and business opportunities all captured in three key stages.
This will go a long way in helping MSMEs in structuring and automating their businesses, diversify their offerings and forge strategic partnerships. For more information on the guide, see link to download https://businessguides.lsetf.ng/
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