As part of efforts in demanding entrepreneurial growth and fulfilling the United Nations sustainable goals to end poverty, hunger and promoting industry Innovation and infrastructure by 2030, the Lagos State government has launched a franchise framework for Micro Small Medium Enterprises (MSMEs) in the state.
Special Adviser to the Governor on Sustainable Development Goals and Investment, Solape Hammond says the framework will help MSMEs explore new markets platforms and growth trajectories.
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She said the state’s decision to engage entrepreneurs in franchise businesses will improve their chances of survival by enhancing their competitiveness and profitability.
She added that it is estimated that each franchise create at least ten to fifteen jobs.
“We are really excited about this, Lagos state is prepared and ready, we’re going to help each of those businesses in the next two years to develop a basic framework for their franchise and then we’re going to support 20 of them. The 20 Highest Potential ones from amongst them
to find the funding, register their IP and scale their businesses identify at least 10 franchises and expand over the next two years.
“It is also very critical to helping us address the SDGs, attain our own objectives from Lagos State Development Perspective.