STARTUP NIGERIA PARTNERSHIP (SNP)
The Start-Up Nigeria Partnership (SNP) is a decisive collective Program to unleash Nigeria’s largely untapped entrepreneurial and small enterprise potential, and to revolutionize the culture of entrepreneurship in the Federal Republic of Nigeria. It is built in the face of an unprecedented economic recession in Nigeria and a culture that had either forgotten or lost faith in its ability to generate the ideas and businesses of tomorrow.
The SNP is a place-based innovation Program that drives entrepreneurism and 20% growth in SMEs (Small and Medium-sized Enterprises). The Program also enhances economic governance by setting clear priorities for the services and public inputs (laws, regulation, and oversight) that the public sector should provide to SMEs – in particular through State Enterprise Development Agencies, but also through education, infrastructure and taxation structure. It complements specific Government plans to set up Special Economic Zones and incubators, providing guidance on how they could provide fair, targeted and effective assistance.
The Program provides a platform for entrepreneurs and small businesses in Nigeria to network, meet and explore opportunities of collaboration and partnership and to support them in meeting potential partners and financiers from other parts of the world. Simply, it is a national network of passionate leaders and entrepreneurs on a mission to inspire, educate and empower individuals, groups and communities. It is also a Program that supports the service providers – from those providing technical assistance like business planning and concept testing, to those providing capital and beyond – that help businesses grow and thrive, while connecting them to each other and the people they serve.
The mission of the StartUp Nigeria Partnership (SNP) is to create an inclusive, innovative national culture by reawakening and leveraging Nigeria’s creative entrepreneurial drive.
OUR KEY OBJECTIVES
- How to uplift 100 to 1000 high potential small medium local enterprises in each of the 36 states of the Federation including Abuja.
- How to train 1000s of founders, owners and job creators to become global age experts.
- How to create massive transformational changes towards new global age models.
- How to select 100,000 -100 million Naira worth high potential enterprises in Nigeria to accelerate their growth 20%.
- How to accelerate the creation of high value new jobs and increase revenue inflows?
No doubt, such exclusive deployments are not “One Single Day Photo-Op Events” but rather they create a full year round of 365 days of rigorous coaching and training to bring transformational agenda.
The principles underpinning the Start –Up Nigeria Partnership Initiative are:
Transnationality: The SNP must work in partnership with Start-Up Africa Partnership projects in other African countries which focus on similar or complementary priorities;
Innovation: within the context of national and regional practice and priorities, the SNP would experiment with new ideas or methods, or try new combinations of existing ideas, methods or collaborators;
Local involvement: The SNP should involve a wide range of local people and organisations, both public and private, so that their combined knowledge and experience can be focused on the development of appropriate training, guidance or employment provision;
Multiplier effect: the SBP’s experiences should be recorded, evaluated and widely disseminated through expert and professional networks and to the general public;
Complementarity: with related initiatives and programmes of regional and international organizations, like the AU, ECOWAS, UN, and the OIC.
To accomplish this, the Program focuses on four key fundamentals of small business development: Access Strategy, Small Business Clusters, Export Development Program and Rural Small Business Support. Read More>>>
Despite supportive infrastructure provided by Government, it has not been an easy road for SMEs to survive. Available data show that the percentage of SMEs shutting down has increased in recent times, while majority of the business owners are struggling to cope with the availability of financing and the cost of funds. There is still a prevalent gap in the market for financing. Banks have suppressed lending following the stigma from the massive losses incurred during the recession. Lending to small firms also proves unprofitable, when evaluated against the risk, regulatory pressure and costs incurred to service such loans. This lack of financing options has left smaller enterprises cash-strapped struggling to sustain operations, let alone scale.
The SNP, in addition to helping participating entrepreneurs and SMEs to build in the areas of training & re-skilling, grants and subsidies, and research & development, will expose participants towards credible, alternative financing options. Alternative finance includes ethical instruments of financing, crowdfunding, peer-to-peer financing and invoice financing. With these alternative financing instruments SMEs can bypass banks and obtain financing within a faster timeframe and less paperwork.
Given right conditions, the SNP’s year long program will guarantee either annual savings of 20% due to new streamlining of operational thinking, or the addition of 20% added value due to new value offerings and image positioning of the operation. It will contribute to the diversification of the Nigerian economy and the sustainability of its growth through the development of a portfolio of SMEs with 20% growth trajectories, radically energized and highly potential business ecosystem and the creation of revenue and employment, in particular among the youth, women and other vulnerable groups.
With intensive focus and inspired collaboration, the StartUp Nigeria Partnership hopes to stimulate the Federal Republic of Nigeria to achieve the following bold goals over the next five years:
- 50,000 new or renewed enterprises
- 150,000 new jobs
- 5 billion Naira invested into the Nigerian entrepreneurial ecosystem
- Build a dense, vibrant and connected Nation that attracts diverse resources and talent
Cash flow is the lifeblood of any growing business, and entrepreneurs are always searching for ways to access more finance at the correct time. Although we don’t provide funding ourselves, we provide access to a network of finance institutions that could provide you with the financing you need. Being on one of our programmes will increase your probability of accessing this finance.
We understand the importance of access to markets for growing entrepreneurial businesses. It is for this reason that we’ve created various channels to markets in order to direct access to large corporate supply chains, and more.
Each of the participants of the Program receives a team of entrepreneurial Guides who will be “mentors” on strategy, finance, marketing, sales, and personal development. Our Guides are regarded as the crème da le crème of business “mentors”. They are highly trained, highly selected, and full time, ensuring that you receive a high quality experience and interaction that will help move your business to the next level.
Small businesses need certain staff resources to grow, but aren’t able to afford them or don’t fully utilize their services to make it cost effective to employ them full time. In many cases, a small business will then do without a bookkeeper or receptionist, which can have a negative impact on their business. As part of the program, we’ll provide you with access to our professional staff, such as a receptionist, bookkeeper, and hospitality hostesses etc., who are always ready to assist you in any way possible.
As a growing entrepreneurial business you will reach a stage when you’ll require specialist services such as tax, human resources, legal etc. Many entrepreneurial businesses are unsure of who are the appropriate specialists to engage with that are cost effective and experts in their respective fields. We have put together a panel of various specialists for you to choose from, and they provide services to businesses on our programmes at special rates.
Successful entrepreneurs are lifelong learners, and are obsessed with obtaining information and skills that will unlock their entrepreneurial potential. We provide an approved and highly recognised practical learning curriculum for both you and your staff. The curriculum includes subjects such as entrepreneurship, marketing, sales, finance, and personal development – ensuring you have every opportunity to supplement your gaps and areas for growth.
Business infrastructure is expensive and often not ideally located. As part of the program, you’ll have access to rooms, boardrooms, IT and front-desk infrastructure, or even use our hot-desking facilities. You’ll also be able to rent offices on a month-to-month basis. The true benefit of using our infrastructure is that your clients and potential clients will interact with you in a professional context, and thus view you in a professional light.
We know that the entrepreneurial journey can be very lonely, but as part of our community, you’ll be in the perfect position to interact with other entrepreneurs; draw strength and inspiration from them, and them from you. In this environment, you can harness synergy and ensure that serendipity flourishes