FG Survival Fund for MSMEs – Step by Step registration process

As the registration for the Federal Government Survival Fund – Payroll Support for the education sector (private schools) has commenced, here are step by step registration process as prescribed on the registration portal.

Step 1 – Personal registration

Register your personal details to start the payroll support application. Instructions at the top of the form will guide you on the required fields that need to be filled to complete the initial registration.

Step 2 – Activate your account

You will receive an activation code on the mobile number and email address you registered with. You will need this code to activate your account. Please ensure you have access to the phone number or email address you will register with in order to complete your initial registration.

Step 3 – Organization registration

After you have successfully activated your account, you will need to login and register your Organization.

To complete this stage, you will need your CAC Number, SMEDAN Number, Tax ID (optional) and the organization’s bank account details.

To register, go to the registration portal

Registration for the other sectors will commence as follows;

• 12:00am Friday 25 September 2020 – registration for hospitality businesses
• 12:00am Monday 28 September 2020 – general registration for all sectors.

Everyone intending to register is advised to follow the schedule for their respective sectors.

The registration for every sector will continue until Thursday 15 October 2020.

The survival fund program intends to help Micro Small and Medium Enterprises to cushion the impact of Covid-19 on businesses. Designated vulnerable sectors include: hotels, creative industries, road transport, tourism, private educational institutions among others.

The projects under the Survival Fund according to the information on its website are;

Payroll support – will support 500,000 MSMEs in meeting payroll obligations of between N30,000 to N50,000 per employee over a three month period.

Formalization support – will provide free CAC business name registration for 250,000 new business.

General grant – will support the survival of 100,000 most affected businesses by the Covid-19 pandemic with N50,000 each.

Artisan/Transport support – will provide artisans and transport business operators with a N30,000 operations grant to reduce the effects of income loss.

Guaranteed off-take scheme – will make bulk purchase of products from 100,000 MSMEs to protect jobs and livelihoods.

Read more; FG Survival Fund – How and when to Register

Written by;

Ifunanya Ikueze