The Ogun State Government has reaffirmed its commitment to helping businesses in the informal sector transition into the formal economy, pledging to strengthen collaboration with Business Membership Organisations (BMOs) to drive enterprise development across the State.
The Permanent Secretary, Ministry of Industry, Trade and Investment, Mr. Adedeji Sowunmi, gave the assurance while receiving the leadership of the Association of Skilled and Vocational Artisans of Nigeria (ASVAN), Ogun State chapter, who paid him a courtesy visit in his Office in Oke-Mosan, Abeokuta to congratulate him on his recent appointment as Permanent Secretary.
Sowunmi, said Government’s commitment to business formalisation was evident in the free business name registration offered to entrepreneurs at the recently concluded Ogun State MSMEs Business Clinic 3.0, where several participants, including ASVAN members, received Corporate Affairs Commission (CAC) registration at no cost, with the fees fully borne by the State government.
He said the Ministry would continue with the initiative, noting that formal registration would provide businesses greater access to grants, financing, markets and other growth opportunities.
“We provided free business name registrations for participants at the last MSME Business Clinic, and we intend to do more on that. There are numerous benefits to registering a business with the Corporate Affairs Commission (CAC). For instance, government grants and other support programmes are typically available only to registered businesses, among several other advantages,” Sowunmi said.
The Permanent Secretary therefore urged business associations to encourage their members to register their enterprises with the Corporate Affairs Commission.
He added that the Business Clinic also featured grants for selected entrepreneurs, while others received government support to obtain product certification from relevant regulatory agencies.
Sowunmi, noted that the Ministry had continued to patronise small businesses and organised capacity-building programmes to enhance the productivity and competitiveness of micro, small and medium enterprises.
According to him, the recently reviewed and validated National MSME Policy will further strengthen the business environment and provide greater support for small enterprises when fully implemented.
Earlier, the Vice Chairman, ASVAN, Pastor Olubode Makinde, called for closer collaboration between the association and the Ministry, stating that members were eager to benefit from the free Corporate Affairs Commission registration initiative, while appealing for government support in the areas of skills upgrading, professional certification and patronage.
Makinde also sought the Ministry’s assistance towards the successful inauguration of the association’s newly elected executives scheduled for October 20.