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Small business owners should formalise their businesses by registering with the Corporate Affairs Commission (CAC) and Ogun State Business Premises Permit (BPP) portal, so as to benefit from grants and other government interventions.
Commissioner for Industry, Trade and Investment, Mr. Adebola Sofela stated this when new executives of the Association of Skilled and Vocational Artisans (ASVAN), Ogun State chapter, paid a courtesy visit to his office in Oke-Mosan, Abeokuta.
Mr. Sofela, who was in company of the Ministry’s Permanent Secretary, Dr. Olu. Ola. Aikulola, said different entrepreneurs were being deprived of grants and other government interventions, due to their inability to register with the CAC and on the BPP portal, adding that formalisation of businesses is a condition for accessing credit facilities initiated by the state government.
He explained that business registration enables government to plan policies and programmes that would make small businesses to grow, urging entrepreneurs who are yet to register to do so, in order to benefit from interest-free loans and other opportunities to grow their enterprises.
“It is important you formalise your business and register on our Business Premises Permit Portal. The benefits of doing so are more than the cost. Some people do not want government to know their business exists because they do not want to pay tax. If we do not know you exist how does government help you with grants, interest-free loans and other interventions geared towards your business growth?”, he asked.
The Commissioner disclosed that the present administration was committed to the growth of small businesses was working on Small, Medium, Enterprises (SMEs) Industrial Land Administration Scheme (SILAS), which would allow small businesses acquire land and harness rebates, among other benefits, assuring that the Ministry would continue to render relevant assistance to ASVAN and other categories of businesses, just as the Ogun State Economic Transformation Project (OGSTEP) was improving technical colleges across the state, to aid training and certification of artisans.
Earlier, Secretary, ASVAN, Ogun State Chapter, Mr. Kehinde Sogunle, said the association comprised skilled professionals involved in automobile business, building industry and human resources, calling on government to support members through training and empowerment programmes, as well as linkages with organisations like the German Agency for International Cooperation (GIZ).
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