FG Updates MSME Survival Fund Registration Portal – Apply if you have not

The Federal Government has officially updated the web portal for MSME Survival Fund registration. According to information on the website, the portal is to help with the digital registration, onboarding and monitoring of Micro, Small and Medium Enterprises (MSME’s) for the Federal Government Survival Fund Program. The program includes Payroll Support, Guaranteed Offtake and MSME Grant.

The official website for survival fund application is https://www.survivalfundapplication.com/

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The CRM & MIS Platform is not only meant for the registration process, it is also expected to manage inventory activities for Guaranteed Offtake Scheme.

How to Benefit from MSMEs Survival Fund.

To benefit from National MSMEs Survival Fund, 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 GoS.

Eligibility for the survival fund Nigeria

To qualify for Survival Fund Nigeria, applicants must meet the following requirements:

For employers of MSMEs

• All the beneficiaries companies must be registered under the Corporate Affairs Commission (CAC).
• Must have staff capacity of not less than 3 persons,
• All the eligible enterprises must be owned by a Nigerian and located in Nigeria.
• Must have BVN.
• Self-Employed Individuals in the following categories
• Service Providers in the transportation sector, i.e bus drivers, taxi drivers, ride share drivers (Uber, Bolt. etc) and Mechanics.
• Artisans: Electricians, Plumbers, etc.
• Application portal opening date

The MSME Survival Fund registration portal is survivalfund.ng. Registration for the National MSMEs Survival Fund will begin on Monday, 21st September 2020.

MSME Survival Fund Registration Portal & Update

Under the National Survival Fund is a Payroll Support Scheme, vulnerable registered businesses will be supported in meeting their payroll obligations of between N30,000 to N50,000 per employee to safeguard the jobs of a maximum of 10 employees over a 3-month period.

In addition to registered businesses, the National MSMEs Survival Fund will also cater to a second category of Nigerians: the Self-employed, including:

Service providers in the transportation sector, i.e. Bus/Taxi drivers, Rideshare drivers, Auto-Mechanics
Artisans (Electricians Plumbers etc)

The artisans and transport business operators will receive a one-off N30,000 operation grant to reduce the effects of income loss caused by the COVID-19 pandemic.

As part of the National MSMEs Survival Fund, there is a Formalization Support for 250,000 businesses in Nigeria, which will be offered CAC free business name registration.

According to the HMS @TradeInvestNG, every State in Nigeria (and the FCT) will benefit from the MSMEs Survival Fund. Lagos, Kano and Abia will receive special focus, on account of their status as leading MSME hubs, but no State will be left out.

How To Register or Apply for MSMEs Survival Fund In Nigeria

Visit the National MSMEs Survival Fund portal or website at – www.survivalfund.ng to fill and submit your application form and to get more info about the initiative.

Kindly note that the Survivalfund.ng online registration portal is already opened and application is currently ongoing.