Five SMEs secure N50m Fire Data grants

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Read History Go to My Account Log Out Enhanced by Google News Five SMEs secure N50m Fire Data grants Five small business entrepreneurs have received a N10 million grant each from Fire Data Limited to assist them grow their

Listen to this article Share Five small business entrepreneurs have received a N10 million grant each from Fire Data Limited to assist them grow their businesses and contribute to the economic development of Nigeria.

The entrepreneurs were picked after a Business Growth and Data Clarity (BGDC) session during which every participant went through a commercial framework and a real-time data profile was created for each business, connecting them to capital, advisory and business intelligence infrastructure.

Speaking at the presentation of cheques to the beneficiaries, Lydia Emeka, founder of Fire Data Limited, said over 1,000 businesses applied, out of which the five successful five were selected.

She added that the initiative was to provide a platform for small businesses to grow, noting that a structure has been put in place to monitor the growth of the beneficiaries and how they use the grant.

“We wanted to provide a platform that makes everybody grow as a unified system. It’s high time that we begin to grow as a unified system. These grant recipients were selected, not just because they could speak the best English but because of their ability and what the data from the back-end shows us,” she said.

Lydia further said the company is targeting 5,000 SMEs in the future and called on more corporate organisations to support Fire Data to achieve its target.

One of the partners, Banire Olayinka, commended Lydia and Fire Data for empowering small business owners with the grant.

He also urged the beneficiaries to make judicious use of the grant, grow their businesses and later support other small business owners.

“We are witnessing the mindset of a young person who is highly intelligent, capable and genuinely compassionate. It takes an empathetic mindset to undertake something of this nature. We can change people’s mindsets and empower individuals to grow without necessarily depending on the government. We are also looking forward to creating opportunities for more people to benefit from grants and for the second cohort to emerge. This is how we can collectively reduce poverty and give more people the opportunity to achieve their dreams,” Banire said.

One of the beneficiaries, Obiefule Lawrence, who owns a small confectionery, thanked Fire Data “for this opportunity and the gift of the grant.”

“In times like this for businesses like ours, N10 million goes a long way. In the next year, we will grow. We are looking forward to the future in Nigeria’s business space,” he said.

Olubunmi Badejo, who is into the fashion business, said she felt “blessed to be among the recipients of this grant.”

“With the current economic situation, a N10m grant is a huge relief for any brand. I want to assure Fire Data that they are helping us to build a community of brands,” she said.