WHAT IS SMEDA?

The Small and Medium Enterprises Development Agency (SMEDA) is a parastatal body established under the Small and Medium Enterprises Development Agency Bill 2014. Governor Uduaghan signed this Agency into law about three weeks ago. The Small and Medium Enterprises Development Agency could support and facilitate the development of entrepreneurship and SMEs in Delta State. Below are some objectives and funtions as obtains in other developing economies.

The objects of the Authority shall be to :

• Promote a conducive business environment and empower SME’s to emerge and grow;
• Promote a service delivery network which increases the contribution of SMEs in the national economy and enhances economic growth;
• Enhances the competitiveness of SMEs;
• Devise and implement development support programmes and schemes for SMEs;
• Facilitate, assist and provide the necessary support to SMEs to gain market access and business opportunities and to compete successfully in the national and international markets;
• Promote and develop entrepreneurship;
• Advise the Minister on policy issues regarding the development of SMEs.

Functions of Authority

The Authority shall have such functions as are necessary to attain its objects most effectively and shall, in particular-

• Provide core support services, particularly entrepreneurship development, business facilities, counselling and mentoring services ;
• Implement and operate a registration scheme for SMEs;
• Facilitate access to industrial space, finance and other productive resources;
• Empower product specific and sector specific SMEs to enhance their delivery capabilities;
• Coordinate with other support organisations and stakeholders in the fulfilment of its objectives;
• Facilitate networking among SMEs and the development of linkages between large enterprises and SMEs;
• Promote technological and managerial capabilities of SMEs;
• Ensure that SMEs; in respect of which a registration certificate is issued, benefit from every incentive which the government grants to them, and assist them to obtain the incentives;
• Identify best practices and disseminate them to SMEs;
• Organise and encourage participation of SMEs in fairs;
• Conduct surveys in the SMEs sector and provide market intelligence for those enterprises, including providing reports on various economic indicators;
  Implement, coordinate and monitor assistance programmes provided to SMEs;
• Collaborate with other local and international agencies dealing with SMEs, to develop the local SMEs through-

• Skills enhancement programmes for their officers; and
• Participation in seminars, workshop and capacity building programmes;
   
• Identify projects for the development and promotion of SMEs;
• Facilitate and coordinate research relating to the development of SMEs;
• Sensitise the public at large on entrepreneurship;
• Provide incubator facilities for SMEs;
• Devise and review policies relating to SMEs;
• Coordinate initiative of public sector agencies and of the private sector relating to SMEs;
• Coordinate entrepreneurship activities carried out by public sector agencies and the private sector.