50 SMEs set for survival fund as Pelse Consulting, others partner

Pelse Consulting in partnership with American Corner, Carrington Youth Fellowship Alumni Network (CYFAN) and some financial institutions are offering funding and training opportunities in Lagos to 50 businesses.

While unveiling the 50 businesses at its induction ceremony in Lagos, Managing Director of Pelse, Boboye Adeniji, said the project, tagged ‘Amplifier Accelerator, would provide selected businesses access to funds and a mentorship programme in the next three months.

“We are talking with several brands like Malta Guinness, American Corner, CYFAN, LEAP AFRICA, Jobberman and many other companies on the project,” he said.

The selected SMES cut across five different sectors – agriculture, technology, services manufacturing and arts.

“This project is called Amplifier Accelerator Project and it aims to provide multidimensional support for SMEs and to help them scale up their businesses by providing services that are multilayer.

“We are not just looking at financing. We are looking at helping them to understand structures and to build adequate expertise to run businesses,” he said.

Speaking at the event, a start-up attorney and a mentorship partner for the programme, Omoruyi Edoigiewerie, said over 80 per cent of start-ups fail within the first three years for a lack of structures and government policies.