Informal busineses faces difficulties in accessing funds, market and other support without formal business registration with the Corporate Affairs Commission (CAC).
To support small and medium enterprises, United Nations Industrial Development Organisation (UNIDO) partnered with the CAC to register informal businesses.
The Chief Advisor, United Nations Industrial Development Organisation (UNIDO), Mr Jarl Hansstein stated this in an interview with the News Agency of Nigeria ( NAN) on Wednesday in Abuja.
He said that registration for Small Medium Enterprises (SMEs) was part of UNIDO’s intervention programmes aimed at strengthening the capacity of SMEs.
Hannstein added that the registration of informal businesses with CAC was fully funded by UNIDO..
In his word, “we have helped a number of companies in the informal sector to register their businesses because it is only registered businesses that can benefit from other components of important equipment supply.
“So far, we have over twenty or thirty companies in need of registration in form of partnership, ” he said.
Hansstein further said that they had set up technical assistance for tools to achieve the set goals.