SMEDAN: FUNDING AVAILABLE, BUT FEW STARTUPS ARE INVESTMENT-READY

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has said funding opportunities remain available for startups despite concerns about declining investment, noting that the bigger challenge is the shortage of businesses that are ready to attract investors.

According to the agency, many startups struggle to secure financing because they lack the governance structures, financial records, and scalable business models required by investors. It stressed that improving business readiness is essential to unlocking available local and international funding.

SMEDAN said entrepreneurs should focus on building sustainable businesses with clear growth strategies, sound financial management, and strong corporate governance to improve their chances of raising capital.

Industry experts echoed the agency’s position, noting that investors continue to seek viable businesses with strong leadership, market potential, and transparent operations. They added that startups must also strengthen their innovation, customer traction, and regulatory compliance to become more attractive to funders.

The agency reaffirmed its commitment to supporting Nigerian entrepreneurs through capacity-building programmes, business advisory services, and initiatives designed to help startups become investment-ready and contribute to economic growth.