Small and Medium Enterprises Development Authority (SMEDA) has invited applications for small business grants (Round-II) for growth stage startups, maximum to Rs500,000, to each organization on first come first served basis to promote and encourage the SMEs sector of the country. The growth stage startup grant is aimed at providing financial support to entrepreneurs to meet the capital or operating needs of their businesses. Interested enterprises have been invited to submit their applications by September 27, 2022. SMEDA’s grant program offers funding to eligible SMEs to acquire machinery, equipment required for carrying out the production operation, testing apparatus/equipment required to conduct product/process inspection or quality testing, and office equipment, including IT (information technology) equipment, required for carrying out business operations.

The funding may also be utilised for arranging furniture and fixtures required for carrying out business operations, raw materials for production of finished goods, stocks for carrying out trading activities, software licensing fees, procurement of customer management software, digital marketing and prototyping or product testing from any accredited laboratory. The project is being executed under SMEDA's National Business Development Program (NBDP) for SMEs across the country including provision of small grants, it said. Women, persons with disabilities, minorities, applicants from less developed districts, and businesses related to IT, food processing and tourism sectors are encouraged to apply. The applications will be evaluated on the basis of profiles of the entrepreneur and enterprise, and expected grant impact.

Credit: Independent News Pakistan-WealthPk