The federal government will be opening a new portal on the 21st of September 2020 to receive Applications from small and medium scale businesses who have been affected by the COVID-19 pandemic for them to benefit from the survival fund.
There are two categories that the survival fund is targeting. The first is employees of MSMEs which Required you to have a registered business and the second category self-employed individuals do not require a business registration to benefit.
However, the Federal government will offer 250,000 businesses free business name registration.
For your business to be selected among those to benefit from the free CAC business name registration, you must visit the survivalfundng registration portal https://www.survivalfundapplication.com/ to register and stand a chance to benefit for the Grant.
500,000 Businesses will benefit from the Payroll Support category, 250,000 MSMEs will benefit from the Formation Support, 100,000 Beneficiaries to benefit from the General Grant, 333,000 businesses to benefit from the Artisan/transport Support, and 100,000 Nigerians to benefit from the Guaranteed Offtake Scheme.
The scheme targets two categories of beneficiaries namely: employees of MSMEs and Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.