Sundry Markets Limited has awarded a combined N10 million in grants to three emerging businesses through its inaugural Micro, Small and Medium Enterprises fair, tagged “Retail Ready 1.0,” reinforcing private sector-led efforts to expand financial support and market access for small businesses in Nigeria.
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Pitch competition puts grant funding at centre stage
The one-day event, held in Port Harcourt, featured a “Retail Ready Pitch Competition” in which participating businesses presented their growth plans and product potential to an audience of industry stakeholders. Three winners emerged and shared the N10 million grant pool, with funding earmarked to boost production capacity, support expansion and prepare the businesses for integration into modern retail distribution channels.
The fair was designed to equip MSMEs with the tools required for sustainable growth, improved market access and operational resilience amid Nigeria’s prevailing economic pressures.
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Industry players unite around SME ecosystem
The event drew representatives from the Small and Medium Enterprises Development Agency of Nigeria, the Bank of Industry, Access Bank, the Standards Organisation of Nigeria, the National Agency for Food and Drug Administration and Control, and United Bank for Africa.
Speaking at the fair, Sundry Markets Limited’s Head of Marketing, Emmanuel Patrick Isangediok, said the company remains committed to strengthening Nigeria’s MSME ecosystem by providing not only market access but also capacity-building opportunities and direct financial support. He described the “Retail Ready” initiative as part of a broader strategy to develop a resilient retail supply chain while supporting indigenous manufacturers and food processors.
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Non-repayable funding addresses a persistent SME constraint
Access to finance remains one of the most critical constraints facing small businesses in Nigeria, limiting their ability to scale, hire and compete. Grant-based interventions like Retail Ready 1.0 are significant precisely because they provide capital without the debt burden that many early-stage SMEs cannot sustain.
Industry analysts note that such direct funding models, particularly those tied to structured pitch competitions, also serve a capacity-building function by challenging entrepreneurs to sharpen their business cases and communicate value more effectively to potential investors and partners.
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Private sector momentum builds on SME support
The Retail Ready 1.0 fair reflects a growing trend in which corporate players are stepping beyond commercial transactions to actively invest in the development of small businesses within their supply chains. For Nigeria’s MSME sector, which contributes significantly to employment and GDP yet continues to face financing and market access gaps, sustained private sector engagement of this kind could meaningfully improve both business survival rates and long-term economic diversification outcomes. Sundry Markets indicated the initiative would continue as a recurring programme.
