Kilsah Consulting, an international development firm that specializes in providing advisory, policy research, and business support services for Micro, Small and Medium Enterprises (MSMEs) in Africa has empowered six small business owners with a business support grant of N2 million.
Founder, Kilsah Consulting, Elfreda Sheriff, while speaking at the 2022 Small Business Luncheon/Grant Award in Lagos, said her organisation identified that most small businesses lack access to finance in order to grow.
The firm, headquartered in Lagos had in the past awarded business grants to entrepreneurs, trained and mentored over 2000 SME owners (70% owned by women), improving their business skills.
Mrs Sheriff said: “The idea is to give small businesses access to finance because we know that access to finance is the top obstacle that affects small businesses growth and this is especially for women entrepreneurs who face more obstacles when trying to access finance whether it is through the traditional loan method or any other method. The whole idea is to be a full-fledged small business support firm where we provide them access to finance, training, mentoring and access to the market.”
She said the criteria for accessing the grant is for the business to be registered with the Corporate Affairs Commission (CAC), which would make the business a legal entity.
Managing Director of Primera Microfinance Bank, Unwana Esang, who was Guest Speaker at the Kilsah Consulting 2022 Small Business Luncheon/Grant Award, advised small business owners to be resilient in the salient challenges of business.
“My message to small business owners is never give up, never stop growing. Always do everything possible to improve the quality of your craft, the quality of your product and service. Continue to build structures around your business. Ensure strong corporate governance because that is what makes you attractive as a business owner to stakeholders whether they are customers, investors or regulators,” he said.
