From Bianca Iboma, Lagos
The SME sector plays an important role in boosting and contributing towards the nation’s economic and sustainable development goals. In impoverished communities, lack of funds is the most common problem faced by an SME & one of the main reasons for the shutdown.
As part of its effort towards creating a sustainable impact in the lives of people, The Hon Justice Innocent Umezulike Foundation [HJIUF] is pleased to present The Ugochukwu Azubike SME Fund. The Fund – whose purpose is to help nurture the spirit of entrepreneurship within communities and to help individuals grow their businesses regardless of the size – has been created in remembrance of Ugochuwu Chidera Azubike Umezulike a brilliant business mind and entrepreneur whose vibrant life was cut short in 2010.
According to the SME Project Director Mr Ifeanyicchukwu E. Umezulike, “We have put in place a grass-root implementation team led by a seasoned strategist Mr Prince Levi to foster the creation of new businesses in accordance with the United Nations Sustainable Development Goals 11 and 17. The SME fund will assist bottom-tier independently-owned enterprises by providing funding to transform, produce, and scale into sustainable businesses that will support themselves and others in the community, and leave a lasting impact.”
In its early stages, The Fund will target independently run enterprises in farming, consumer goods sale and market trading, offering them the opportunity to receive a grant between 15,000 Naira and 500,000 Naira. In order to be eligible to receive a grant under The Ugochukwu Azubike SME Fund, applicants must demonstrate a genuine intention to start a small-scale business. Individuals who already run a small-scale verifiable independently owned enterprise in Nigeria can apply. Further details on the application process and criteria are contained in the Hon. Justice Innocent Umezulike Foundation’s website: www.umezulikefoundation.org.