Small business owners need to formalise their businesses by registering with the Corporate Affairs Commission (CAC) as well as on the Ogun State Business Premises Permit (BPP) portal so as to benefit from grants and other government interventions.

Commissioner for Industry, Trade and Investment,  Mr. Adebola Sofela stated this when new executives of the Association of Skilled  and Vocational Artisans (ASVAN), Ogun State chapter paid him a courtesy visit in his Office in Oke-Mosan, Abeokuta.

Sofela who was in company of the Ministry’s Permanent Secretary, Dr. Olu. Ola. Aikulola said different entrepreneurs were depriving their businesses of grants and other government interventions due to their inability to register their business with the CAC and on the BPP portal, businesspermit.gov.ng adding that formalisation of businesses is a condition for accessing many government interventions.

He emphasized that registration of businesses allows government to be aware of existence of businesses and plan for the growth of business urging entrepreneurs who are yet to register to do so without delay so as not to miss out on some interest-free loans and other interventions that were underway.

“ It is important you formalise your business and register on our Business Premises Permit Portal. The benefits of doing so are more than the cost. Some people don’t  want government to know their business exists because they don’t want to pay tax. If we do not know you exist how does government help you with grants, interest-free loans and other interventions geared towards your business growth?,” Sofela asked.

The Commissioner added that the Abiodun-led administration as a government  which is committed to the growth of small businesses was working on SME Industrial Land Administration Scheme (SILAS) which would allow small businesses acquire land and harness rebates and different other benefits.

Sofela who reiterated his open door policy assured that the Ministry would continue to render relevant assistance to ASVAN and all categories of businesses noting that the present administration through the Ogun State Economic Transformation Project (OGSTEP)  was improving technical colleges across the State to aid the training, retraining and certification of artisans.

The Commissioner who stated that skilled artisans tend to undervalue themselves urged them to leverage their skills  to make wealth and continue to contribute to the Gross Domestic Product of the State and country. 

Earlier in his remarks, Secretary, ASVAN, Ogun State chapter, Mr. Kehinde Sogunle said the association is made up of skilled professionals involved in automobile business, building industry and human resources calling on government to support the association’s members through training and empowerment programmes as well as linkages with organisations like the German Agency for International Cooperation (GIZ).

Sogunle who disclosed plans of honouring  the Commissioner as a Patron of the association lauded the Commissioner’s willingness to support the development of ASVAN.