Somali SME’s are the backbone of the economy and the largest employer supporting the livelihood of many families. However in order to grow Somali SME’s need to overcome many challenges for which expertise from external professionals is needed. The market needs sufficient local business and technical services.
SMEF aims to support Somali SME’s by facilitating them access to business and technical services in addition to skills upgrade of employees. In total, SMEF will provide services to 1,000 SME’s. This support is highly demand driven and can be provided to an individual business (specific one-on-one service) or to a group of companies in the same (sub) sector in case of similar needs (wholesale service).
To support SME’s, SMEF has set clear eligibility criteria to select businesses that will be serviced. These criteria are:
To date SMEF has supported 489 SMEs
|1.||Only commercial businesses.|
|2.||Only SMEs (based on number of employees between 1 and 300) are eligible for SMEF services.|
|3.||MEF prefers to support companies that add local value (production, processing, manufacturing, etc. – no retail and trading) and have more innovative businesses.|
|4.||SMEF has a preference to support SMEs that are in sectors with growth potential and can generate significant employment opportunities.|
|5.||The requested SME services should be in line with the eligible business and technical assistance services.|
|6.||The SME clearly intends to contribute to part of the service costs.|
SMEs which fit the criteria, can apply online for the below link. SMEF will get back you within 2 weeks to confirm if your request is eligible for service and discuss with you the next steps.