Que 1: What is SMEDAN?
Ans: SMEDAN was established by the SMEDAN Act of 2003 to promote and facilitate the development of the Small and Medium Enterprises Sub-Sector of the Nigerilan Economy. The Agency is a "One stop shop" for starting, resuscitating and growing MSMEs in the country.

Que 2: What can SMEDAN do for us?
Ans:
(a) It provides information on raw materials, machinery, equipment, market and the activities of agencies of governments such as SON, NAFDAC, CAC, FIRS. Information is avilable from SMEDAN's head office, Business Support Centre (BSC's) and from website

(b) It provides Training and capacity building in areas such as book keeping and accounts management, preparation of business plans, quality control, computer (or IT) appreciation
(c) Access to Finance
(d) Access to improved work space (through industrial parks)
(e) Mentoring
(f) Advisory services
(g) Facilitation of linkages and / or cooperation with other enterprises for improved production

Que 3: How do I generate a business idea?
Ans: Every business enterprise starts as an idea which is then translated into a product or service that a customer need or prepared to pay for:
Business ideas can be generated through reading of books, newspapers/journals, interactions with friends and family members, your hobbies; your acedemic training, happenings in your immediate environment or gaps created by existing products. SMEDAN also offers you assistance in business idea generation and evaluation.

Ques 4: How do I develop/Write business plan proposal?
Ans: There are many Business Development Service Providers (BDSPs) that can help. SMEDAN can assist you to identify some of them. Furthermore, SMEDAN, through her Head office and the Business Support Centres, would provide model business plans to start the process.

Ques 5: How do I get information on Human Resources/Personnel?
Ans: Through friends, referrals and employment agencies. Also through SMEDAN Business Support Centre. Employ only somebody you cna fire if need be.

Que 6: Where do I get market informatin for my product?
Ans:
(i) From Business Investment profiles developed by SMEDAN
(ii) At SMEDAN Business Clinic operating at our Headquarters in Abuja
(iii) At all the Business Support Centres across the states
(iv) At the Business Information Centres
(v) Visit out website (www.smedan.gov.ng)

Que 7: Can SMEDAN assist in the drafting of standard Business Profile/plan or feasible Study?
Ans: Yes. Ask from the Agency's head office or any of the Business Support Centres in the states.

Que 8: What are the conditions for obtaining SMEDAN loans?
Ans: SMEDAN does not give loans, but can facilitate the access of MSMEs to loans from her partnering financial institutions and from other specialized micro finance schemes. However, in discharging this facilitation, SMEDAN also ensures that MSMEs, meet the conditions specified in question 9.

Que 9: What do I do to get a loan from the bank?
Ans:
(i) Clients must have an account with the bank.
(ii) There must be an application for loan indicating how much is required and the purpose
(iii) Applicant must include the following documents:
-Business Plan/Feasibility Study
-Company Information
-Financial Data
(iv) Owners invest at least 25% of total project cost, excluding land

Que 10: How long does it take SMEDAN to appraise the project proposal of an SME and send it to the financing partners?
Ans: SMEDAN's evaluation of projects takes less than a week if all the appropriate details are included. After our evaluation, the project is passed on to the development finance institution or Commercial Bank who may also carry out further evaluation before funding the project.

Que 11: Apart from commercial banks, what are theother sources of financing available to MSMEs?
Ans:
(i) Personal Savings
(ii) Loans form friends/partners and relatives including savings club (Esusu) etc.
(iii) Co-operative socieities / Credit Union or through SMEDAN facilitation to facilities
(iv) Community Banks
(v) Specialized micro finance schemes (e.g. NAPEP's Multipartner Micro Finance Scheme)
(vi) Government Development finance institutions such as Bank of Industry (BOI) and the Nigeria Agricultural, Co-operative and Rural Development Bank (NACRBD)

Que 12: How does SMEDAN disburse SMIEIS's fund?
Ans: Disbursement of Small and Medium Industries Equity Investment Schemes (SMIEIS) fund is done by the different Commercial Banks, either directly or through their subsidiaries. However, SMEDAN only educates MSMEs on equity mode of financing and at the same time interacts with the Bankers' committee on how to implement the scheme in a manner beneficial to the MSMEs

Que 13: How does one register one's company?
Ans: Registration of Companies in Nigeia is the sole responsibility of the Corporate Affairs Commission (CAC). However, SMEDAN facilitates SMES registration with CAC as part of her corporate responsibilities. Furthermore, SMEDAN facilitates the registration of MSMEs with the Standard Organization of Nigeria (SON) and National Agency for Food and Drug Administration and Control (NAFDAC)

Que 14: What is SMEDAN's relationship with Standard Organization of Nigeria (SON), NAFDAC, Export Promotions Council and other Regulatory Agencies?
Ans: Smedan is in partnership with all the above named Regulatory bodies for the benefit of MSMEs. SMEDAN provides the MSMEs all the needed information to enable them fulfil the requirements of the regulatory Agecies and also helps in packaging the MSMEs where necessary.

Que 15: How can I obtain information about the entrepreneurs interested inthe same line of business or join a group?
Ans:
(i) By registering with a Business Membership Organization
(ii) By discussing with SMEDAN, either at her Head office or at any of the BSCs
(iii) One of SMEDAN's major programme is to promote enterprise co-operation (in form of clusters) and linkages (especially with large enterprises).