Another reason the Federal Government of Nigeria created the MSMEs Survival Fund Scheme was for Payroll Support purpose among many. Our main reason for composing this article is to show you how you can be qualified and also apply for the MSME survival fund for payroll support.
About MSMEs Survival Fund Program
The Micro, Small, and Medium Enterprises (MSME) Survival Fund scheme is a program created by the Federal government of Nigeria. The major aim of the programme is to reduce the sufferings of the citizens of Nigerians caused by the depressed economy and the Covid-19 pandemic.
All the funds set aside for this program can be accessed and used by organizations and individuals to keep up with the Payroll Support, create new jobs and also support vulnerable Micro, Small, and Medium Enterprises to continue to stay in business.
Candidates who are eligible to receive the funds are entitled to at least N50,000 from the fund. Keep reading to see how you can apply for the MSME payroll support.
About the Survival Fund for Payroll Support
- The Survival fund initiatives were first introduced by the FG (Federal Government of Nigeria) as part of its efforts to help businesses to scale through the challenges caused by the Covid-19 pandemic.
- The Survival Fund program is a conditional grant used for supporting vulnerable micro and small enterprises to meet up with their payroll obligations and secure jobs in the MSMEs sector.
- The survival fund program has been estimated to save at least 1.3 million jobs across the country and specifically impact over 35,000 individuals for each state.
- The Federal Government survival fund was also created to help CEOs pay their employees.
- N60 billion Naira has been set aside by the Federal Government of Nigeria for the MSME Survival Fund program.
Requirements to Access Survival Fund For Payroll Support
The government of Nigeria commented on the use of survival fund for payroll support and in the process also mentioned some of the requirements needed for accessing these funds. Here they are below:
- Business must be owned by Nigerians.
- Must have verifiable BVN.
- Businesses must have CAC registration.
- Businesses must have at least 10 staffs and a maximum of 50 staffs.
- The programme provides 45% female participation and 5% Special Needs participation.
NOTE: Please all participants are to note that survival fund registration for the MSME is free of charge. We think it’s also wise to admonish applicants to be aware of fraudsters.
ONGOING GOVERNMENT GRANTS & LOANS:
- Click Here To Apply For GEEP Loan.
- How To Apply For Nigeria Youth Investment Fund.
- How to Apply For Federal Government Intervention Fund.
How Do I Apply For the FG Survival Fund for Payroll Support?
Below are the steps that will guide you into successfully applying for the 2021 survival fund for payroll support;
- Go to the Survival fund official registration portal => Survivalfund.gov.ng
- Click on the ‘Start Here’ button, then it will take you to the survival fund application form options
- Click on the category you want to apply for, either ‘Payroll Support Register’,
- Fill in your correct information in the form to avoid being disqualified during the verification state.
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