Department for Funds for Micro, Small and Medium Scale Enterprises

Department for Funds for Micro, Small and Medium Scale Enterprises

The Department for Funds for Micro, Small and Medium Scale Enterprises is another relevant department in the ministry whose main function is to invite, receive and examine application for loans required for the establishment, expansion and modernization of small-scale industries and grant credit in the state. It aims at interpreting and implementing the state SME policy in line with the National Policy on small and medium scale enterprises, and to create conducive environment for MSMES to thrive. Example: to have access to credit, infrastructures, and opportunities for extensive marketing of products, capacity building etc. Ebonyi business support center that houses SMEDAN, CPC, etc is directly under the watch of this department. The functions of the department can be summarized thus:

1. To encourage small scale industries and MSMEs to have access to credit facilities from Federal government and non governmental organizations.
2. To provide counseling services and information on business opportunities.
3. Assist or guide MSME operators on how to write good business plans.
4. Liaise with Research Institutes like RMRDC, FIIRO etc and package their research findings for the use of MSMEs.
5. Technology development, application and skill acquisition.