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Grooming Endowment Trust Launches N12.5m Grant Programme for SMEs

Posted By Nimat Asunogie, Friday, September 30, 2022

With the need to empower local businesses across the country in the face of the present economic realities, a N12.5 million grant programme has being launched by the Grooming Endowment Trust to boost start-ups and MSMEs looking for facilities to scale. The programme known as Grooming Endowment Trust (GET) compass, is an initiative thst aims to provide grant funding, business advisory and capacity building for small businesses that in ideation or nascent stages of growth.

Speaking in Lagos on the motivation behind the programme, the Chairperson of the Grooming Endowment Trust,Adaobi Okafor stated that the Trust did not only aim to provide financial assistance, but also relevant skills to help MSME operators grow , improve their business processes and navigate the tough business terrain in Nigeria..

We hope to acheive multiple outcomes with the businesses that will be selected to participate in GET compass and win the grants, in the form of expansion, creation of employment opportunities and increased income at household level. The compass will give direction to micro businesses at the base of the pyramid that have the potential to grow and create jobs, and generally have a positive impact on the communities they operate in.

GET compass will see top five businesses receive N2million each, while Runners-up get N250,000 each, in addition to two weeks of business advisory. Speaking on the requirments to participate in the compass, Ayotunde Hassan, Deputy Manager Research & Development of CREM Nigeria, the programmer's technical partner, said prospective recipients should be owners of businesses and must be above the age of 18. They must be able to show possible continuity of business.

Please note that they must be categorised under small scale business with a clear purpose and need for funding.

Application can be done on the company's website between 22nd of August to the 9th od September 2022."

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