{"id":31752,"date":"2019-05-07T14:41:07","date_gmt":"2019-05-07T13:41:07","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=31752"},"modified":"2019-05-07T14:41:07","modified_gmt":"2019-05-07T13:41:07","slug":"msmes-fg-extends-50-discount-on-business-registration-by-three-months","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/msmes-fg-extends-50-discount-on-business-registration-by-three-months\/","title":{"rendered":"MSMEs: FG Extends 50% Discount On Business Registration By Three Months"},"content":{"rendered":"<div>The Federal Government on Monday extended by three months the 50 per cent discount it offered operators of Micro, Small and Medium Enterprises to register their company names.<\/div>\n<div><\/div>\n<div>Vice-President Yemi Osinbajo announced this during the first quarter MSMEs stakeholders\u2019 meeting, which was held at the Presidential Villa, Abuja.<\/div>\n<div><\/div>\n<div>He explained that the government\u2019s action was informed by the success so far recorded in the 50 per cent discount window.<\/div>\n<div><\/div>\n<div>For instance, reports showed that small business registration grew from \u201c54,000 to 163,000 within six months\u201d of approving the discount.<\/div>\n<div><\/div>\n<div>The government, through the Corporate Affairs Commission, started applying the discount since in October 2018.<\/div>\n<div><\/div>\n<div>It involved reducing the fee for the registration of a business name from N10,000 to N5,000 to help MSMEs formalise their operations.<\/div>\n<div><\/div>\n<div>Osinbajo at the event also asked both the Standard Organisation of Nigeria and National Agency for Food and Drug Administration and Control to quickly resolve issues relating to the overlapping of their functions to ease business operations.<\/div>\n<div><\/div>\n<div>The VP also challenged the stakeholders to rack their brains and come up with suggestions on how best to finance small business outlets in the country.<\/div>\n<div><\/div>\n<div>\u201cHaving listened to all the issues raised in the report and from your various contributions about funding, I think you should come up with suggestions on better funding for start-ups and MSMEs.<\/div>\n<div><\/div>\n<div>\u201cWe need to address this issue as quickly as possible\u201d, a statement by his Senior Special Assistant on Media and Publicity, Mr Laolu Akande, quoted the VP as saying.<\/div>\n<div><\/div>\n<div>The \u00a0Managing Director of the Bank of Industry, Mr Kayode Pitan, at the session, called for \u00a0\u201cMSMEs to establish a company to de-risk BOI loans to MSMEs.\u201d<\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government on Monday extended by three months the 50 per cent discount it offered operators of Micro, Small and Medium Enterprises to register their company names.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":16922,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[1838],"coauthors":[2391],"class_list":["post-31752","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-msmes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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