The National Entrepreneurship Support & Development Agency (NESDA) has launched an innovative financing service to support the development of micro-projects across Algeria. This initiative underscores NESDA’s commitment to fostering entrepreneurship and sustainable economic growth.
Creation and Mission
NESDA was established to promote entrepreneurship by providing essential resources and support to new and existing businesses. Its mission is to create a conducive environment for business growth, driving economic diversification and job creation.
Financing Services
NESDA Launches Financing Service for Micro-Projects
The National Entrepreneurship Support & Development Agency (NESDA) has introduced a new financing service aimed at fostering the growth of micro-projects in Algeria. This initiative is designed to support entrepreneurs by providing diverse financing solutions, including self-funding, mixed-funding, and triangular funding. The program also offers non-remunerated loans and tax incentives to ease the financial burden on project owners. NESDA’s comprehensive approach includes training, support, and financing to ensure the success of micro-enterprises, contributing to sustainable economic development in the country.
The new financing service is tailored to meet the diverse needs of entrepreneurs. It includes:
- Self-Funding: Assisting entrepreneurs in utilizing personal or family resources.
- Mixed-Funding: Combining personal funds with external financing.
- Triangular Funding: Partnerships between the entrepreneur, NESDA, and financial institutions.
- Non-Remunerated Loans: Providing interest-free loans.
- Tax Incentives: Offering tax benefits to reduce financial burdens.
Other Services
NESDA also offers:
- Training Programs: Equipping entrepreneurs with necessary skills.
- Business Support: Ongoing advisory services.
- Market Access: Helping businesses penetrate local and international markets.
Conditions for Support
To qualify for NESDA’s support, entrepreneurs must:
- Present a viable business plan.
- Demonstrate commitment to project success.
- Meet specific eligibility criteria based on project type and funding requirements.
Achievements and Statistics
Since its inception, NESDA has achieved significant milestones:
- Projects Financed: Over 414,000 micro-projects supported, averaging more than 15,000 projects per year.
- Job Creation: Contributed to creating more than 20,000 jobs.
- Economic Impact: Enhanced local economies and diversified income sources.
Success Stories and New Vision
NESDA’s impact is best illustrated through success stories and its new vision for micro-enterprises:
- Agricultural Projects: Farmers have expanded operations, increasing productivity and income.
- Tech Startups: Innovative tech solutions have emerged, addressing local challenges and gaining international recognition.
- Handicrafts and Artisans: Local artisans have scaled their businesses, preserving cultural heritage while creating employment.
The new vision includes:
- Mandatory Training: A three-week mandatory training program for micro-enterprise managers, conducted in collaboration with the Ministry of Higher Education and Scientific Research.
- Youth Entrepreneurship: Strengthening entrepreneurial spirit among youth in collaboration with the Ministry of Vocational Training.
- Women in Entrepreneurship: Enhancing the role of women in entrepreneurship.
- Strategic Development: Developing strategies that address the specific needs of entrepreneurs.
- Subcontracting Programs: Implementing programs to connect micro-enterprises with large companies and investment funds.
- Local Authority Support: Gaining support from local authorities to improve the investment climate for young entrepreneurs.
employment.
Recent Developments
On June 2024, NESDA’s Director General Bilal Achatcha announced the agency’s registration of 414,000 micro-enterprise projects. This announcement was made during a consultative day organized by NESDA’s Algiers South branch in collaboration with local authorities. The event showcased successful micro-enterprise experiences, highlighting NESDA’s impact and the success of its initiatives. The consultative day also included a presentation of a 15-minute documentary on various successful enterprises.
Local authorities, including the Wali Delegate of the Baraki Administrative District, have expressed strong support for NESDA’s efforts. They emphasized the importance of fostering entrepreneurship among young people to create sustainable micro-enterprises capable of generating employment and contributing to the national economy.
Conclusion
NESDA’s new micro-project financing service marks a significant step in empowering Algerian entrepreneurs. Through comprehensive support and innovative funding solutions, NESDA is driving sustainable economic development, creating jobs, and fostering a thriving entrepreneurial ecosystem.
For more information, visit NESDA.
