BLOG POST
Strategic Enterprise Ecosystem Development and Advocacy
By Mary Awoniyi
NOVEMBER 24, 2023
The Center for Strategic Enterprise Development (CSED) spearheads the Future SMEs Project (FSP), a dynamic accountability initiative focused on amplifying the voice of Micro, Small, and Medium Scale Enterprises (MSMEs) in Nigeria's public expenditure management (PEM) and private sector development domain.
At the heart of this endeavor is the MSMEs Friendly States Index (MFSI), a powerful tool designed to empower MSMEs in holding the government accountable for its commitment to policies, finances, and programs that foster the growth and development of MSMEs.
The Future SMEs Project recognizes that evaluating regulatory administration and various government interventions in a free-market economy is crucial. By assessing core elements of regulation and other types of support, this initiative provides valuable feedback to government officials.
It serves as a benchmarking mechanism, offering insights into how well regulations or regulatory policies align with administrative goals and contribute to overall development outcomes.
The MSME Friendly States Index (MFSI), a pivotal component of the Future SMEs Project, serves as a comprehensive instrument that studies and reports on the extent of subnational government support for MSMEs across Nigeria. This evaluation encompasses policy support, funding mechanisms (such as credit, equity, grants, etc.), and the development of programs aimed at facilitating the operations of MSMEs throughout the country.
"The MFSI, having undergone a successful pilot phase in 2023, is currently in the process of forging strategic partnerships to scale its impact in the coming years. "
As a pioneering force in strategic enterprise ecosystem development and advocacy, CSED's Future SMEs Project stands as a catalyst for positive change. By amplifying the voices of MSMEs and fostering accountability, this initiative contributes to shaping an environment where policies and interventions effectively propel the growth and sustainability of small and medium-scale enterprises across Nigeria.
Through the continued evolution and expansion of tools like the MSME Friendly States Index, CSED envisions a landscape where the synergies between government and MSMEs lead to enhanced economic development and prosperity.
Published Date: November 24, 2023