The Federal Government has pledged to support small business as it the engine for economic growth.
Vice-President Yemi Osinbajo made this disclosure on Friday in Abakaliki, while flagging off the Ebonyi State edition of the National Micro Small and Medium Enterprise Clinic.
According to the Vice-President, the FG recognises that small business are essential for economic growth and are committed to creating a conducive environment for them to thrive.
“It is not mere rhetoric that small businesses are the engine of growth in Nigeria’s economy. The Federal Government recognises this and is committed to creating an environment for these businesses to thrive,” he said.
“Nothing lends more credence to this than the Finance Act of 2020 that introduces a wide range of tax incentives for small businesses.
“The MSME Clinics provide a two-way opportunity. The FG regulatory agencies share business procedures and requirements while MSMEs are also expected to use the opportunity to share challenges that they face and look for possible solutions alongside the regulatory agencies.
“To additionally aid MSMEs, the Federal Government will invest in Shared Facilities. It is a facility that allows clusters of businesses come together to share expensive machines provided by the government.
“These clusters will be pre-certified by relevant agencies and MSMEs who become members of the shared facilities won’t have to go through the process of registration again.”
