LSETF engages beneficiaries on business growth strategies for export

In keeping up with its commitment to creating an enabling environment for small businesses to thrive in Lagos State, The Lagos State Employment Trust Fund (LSETF) plans to engage beneficiaries on business growth strategies for export.

Consequently, as part of effort to promote ‘Made in Lagos’ the LSETF will hold a two-day workshop on export for its beneficiaries on April 12 and 13 2017 in Lagos.

The workshop which will be in partnership with the Nigerian Export Promotion Council (NEPC), Lagos Chapter, is aimed to train LSETF beneficiaries to scale up their businesses for export, take advantage of export opportunities in their line of business as well as receive information on the policies that guide export in their countries of interest.

Speaking about the purpose of the workshop, the LSETF’s Executive Secretary Akin Oyebode, said this workshop is targeted at the LSETF beneficiaries who qualify for export because of the goods they produce. Asides its overarching mandate, the LSETF intends to provide business support, advisory services and access to new markets for all its beneficiaries that is why we have partnered with the Lagos Chapter of the Nigerian Export Promotion Council (NEPC) to help achieve this”.

“In addition to the Nigerian Export Promotion Council sessions, we will also have facilitators from the Nigerian Customs Service and NAFDAC. We believe the timing of this workshop is perfect, especially in this era of low oil prices, and a shift toward non-oil sources of foreign exchange by the Federal and State Governments. Our intention is to position Lagos at the forefront of this shift”. he said.

The Fund is poised to provide support to at least 100,000 MSMEs; create at least 300,000 direct and up to 600,000 indirect jobs by 2019. The LSETF is also mandated to provide training and job placements for the unemployed; mentorship for business owners and improvement of the policy environment to ensure a conducive operational environment for small businesses in the state.

The Lagos State Employment Trust Fund (LSETF) is a Lagos State Government Initiative created as part of its commitment to boost the Lagos economy through job creation, leverage and access to finance for micro, small, medium Enterprise (MSMEs) operating in the State. LSETFs’ mandate also includes provision of training for the unemployed and job placements for the employable; mentorship and support for SME owners and improvement of the policy environment to ensure a conducive operational environment for small businesses in the state.

Through this scheme promoters and owners of micro-business can get a loan of up to N500,000 at 5% interest rate per annum, while small-businesses can get a loan of up to N5,000,000 at 5% interest rate per annum. Let us include the 250,000 option.

HOPE MOSES-ASHIKE