GET Compass 2023 Award Ceremony: Empowering Small Businesses Goes Beyond Funding
Posted By Nimat Asunogie, Friday, October 27, 2023In some facets of our lives, we have been impacted by small businesses. From the food vendor around the corner to the clothing stall in the market, SMEs account for 96% of businesses in Nigeria. Small businesses are the backbone of any economy because they create jobs, drive innovation, empower local communities and further drive impact that in turn boosts economic growth. However, small businesses face a lot of challenges, especially in the early stages.
This is the essence of programs like GET Compass.
Designed to empower small businesses with business acumen, equity-free funding, access to mentors and other business opportunities,
we are pro-creating jobs, driving innovation, and contributing to local communities.
This year, Grooming Endowment Trust through the GET Compass program awarded 5 businesses with the sum of N2 million naira. Through a thorough selection process, 15 businesses were selected to join the cohort. The businesses span a plethora of sectors from manufacturing, clean energy, and fashion to food.
The beneficiaries are as follows:
Craft Planet:
Sector: Green Environment
This business deals with recyclables and clean energy. With its headquarters sequestered in the Northern part of the country, Craft Planet is concerned with transforming plastic waste into eco-building materials. Their goal is to drive more awareness about the durability of eco-materials for construction purposes in a bid to combat the effects of climate change.
Makizi Blossoms Enterprises
Sector: Green Environment
Makizi Blossoms specializes in the production of pure, natural organic honey from its bees. The bees are managed and raised by Makizi Blossoms to ensure the highest quality of honey is produced. The business model thrives on protecting the environment, generating honey without harming the bees and creating a healthy habitat for bees.
Smoothie Bargain & Shakes Enterprise:
Sector: Agriculture
Health is wealth and a big part of healthy living is nutrition. Smoothie Bargain provides delicious and nutritious fruit juice, parfaits and smoothies at an affordable price. With over 100 monthly customers across Lagos state, Smoothie Bargain and Shakes Enterprise is seeking to spread the gospel of healthy nutrition across other states in Nigeria.
Replast Engineering
Sector: Waste Management
Proper plastic waste management is a challenge in Nigeria and Replast Engineering hopes to alleviate the problem through its digital platform that allows pick up of plastic via its collection agents. The plastic is sorted, shredded and recycled to make new products.
Tipin Recycle
Sector: Agriculture
Tipping Recycle collects end-of-life materials from the environment, such as used tyres, wood pallets, cartons, sacks, pet bottles and innovatively reuses them to make eco-friendly products and furniture for homes and office use.
At GET, we go beyond funding and provide training to businesses in our ecosystem. The selected businesses attended a series of masterclasses with seasoned professionals who provided insights on management, marketing, financial expertise and customer service.
These classes are designed to enable businesses to grow their customer base and revenue, leading to expansion.
GET Compass does not only inject financial resources but also provides the knowledge and skills necessary for businesses to thrive. Supporting small businesses in this way is a win-win for all involved and ensures a brighter future for our local economy.
Watch a video on GET Compass 2023 Click Here
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This year, Grooming Endowment Trust through the GET Compass program awarded 5 businesses with the sum of N2 million naira. The selected businesses participated in a sequence of masterclasses led by experienced professionals, who shared insights on management, marketing, financial expertise, and customer service.
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