How FOMSBON Benefits Business Membership Organizations (BMOs)
· Identification of capacity-building needs of BMOs/members
· Capacity building for key officers and modalities for downscaling to members
· Assist in setting technically functional, operationally sustainable and relevant structures for BMOs
· collaborate to identify sector related challenges and mapping out effective strategies for addressing them
· Creating a platform for holistic MSME debates forming MSME favorable policy positions and pushing them for prompt attention and action of stakeholders
· Creating a one-stop shop for the registration of all MSMEs in Nigeria on sector-by-sector basis for the benefit and attention of stakeholders: government, financial service providers, regulators, development partners e.t.c.
· Assisting BMOS to develop empirically sound credit worthiness parameters for their members and making them virtually available to financial institutions for affordable financial support
· Providing a universal platform for marketing BMOs activities and assisting them to incrementally register functional members
· Assisting with provision of national and global input and product market information
How FOMSBON benefits Individual Micro, Small and Medium Enterprises (MSMEs)
· Researching into their activities, gathering, analyzing and warehousing information that will inform policy-making and attract stakeholder action
· Through the BMOs, assistant to build credible socio-financial credit worthiness information to ease and facilitate credit assessment and approval by financial service providers
· Assisting with identification of sub-sector common business risks and frontally providing effective mitigation/prevention procedures
· Working to put in place, business-bounce-back arrangements to minimize failure rates and support organic growth of MSMEs
· Creating a mechanism for backward integration with raw material providers and forward integration with products off-takers
· Liaising with regulatory institutions and standard-setting bodies to create a business-friendly environment, easy registration, product standardization and packaging, and promoting functional cluster development etc
· In collaboration with BMOs, assist to source for international markets to expand sale volumes and enhance profitability and viability
· Creating a platform for MSMEs to showcase their activities
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