Where can I get funds to start a business in Nigeria?

Where can I get funds to start a business in Nigeria?

Top 7 Business Grants & Funding For Entrepreneurs And Business Owners In Nigeria (2019)

• Tony Elumelu Entrepreneurship Programme (TEEP)
• YouWIN Connect Nigeria.
• Bank Of Industry (BOI)
• GroFin Fund.
• Diamond Bank BET Programme.
• AYEEN Financial Grants.
• Lagos State Entrepreneurs Trust Fund (LSETF).

How can I start a business in Nigeria with no money?

There are businesses you can start with little or no capital and here are five of such businesses.

1. Content provider. Content creating is important to businesses.
2. Repair/Skill based services. Automotive body and related repairers.
3. Consulting. Make money from your expertise.
4. Tutoring.
5. Social media influencer.

How do you source money in Nigeria?

10 Sources of Capital and Funds for your Business in Nigeria

1. #1. Family and friends.
2. #2. Nigerian commercial banks.
3. #3. YouWin Program.
4. #4. Nonprofits / Angel Investors.
5. #5. SMEDAN.
6. #6. Personal finance.
7. #7. Local co-operative societies.
8. #8. Partnership.

How can I raise money for my business fast?

How to Raise Money for a Business: 11 Sources of Funding

1. Crowdfunding. If you have strong convictions about an idea, use the power of the internet to raise the funds you need.
2. Angel investors.
3. Bootstrapping.
4. Venture capitalists.
5. Microloans.
6. Small Business Administration (SBA)
7. Purchase order financing.
8. Contests.

How do you source a fund?

Here’s an overview of seven typical sources of financing for start-ups:

1. Personal investment. When starting a business, your first investor should be yourself—either with your own cash or with collateral on your assets.
2. Love money.
3. Venture capital.
4. Angels.
5. Business incubators.
6. Government grants and subsidies.
7. Bank loans.

What are the six most common sources of funding for potential business owners?

Listed below are six common sources of funding, a brief explanation of each, and the benefits and hesitations associated with the different methods.

• Small Business Administration (SBA) Loans.
• Angel Investors.
• Friends and Family.
• Venture Capital (VC) Funding.
• Bank Financing.
• Utilizing Financial Professionals via Verifico.com.

What business can I start with 2million naira?

With two million naira in account, you can invest into businesses like recharge card dealership which allow you to represent the mobile telecommunication networks as a dealer for distributing or selling recharge cards and data bundles to subscribers/customers across the nation.

Which business is lucrative in Nigeria?

Pure water business Because of the important nature of water, pure water business makes this list of the most lucrative businesses in Nigeria. There are approximately 180 million people in Nigeria today and all of them drink water! That makes this business very profitable, because you will always have buyers.

How do I raise funds?

How to raise funds online

1. Define your goal. Start by determining how much money you need to raise.
2. Choose an online fundraising platform. When picking a platform for fundraising online you should look for:
3. Tell your story honestly.
4. Share your fundraiser with your friends and family.
5. Show appreciation towards your donors.

How do I get capital to start a business?

6 Easy Ways to Raise Capital For Your Business

1. Bootstrap your business.
2. Launch a crowdfunding campaign.
3. Apply for a loan.
4. Raise capital by asking friends and family.
5. Find an angel investor.
6. Get investment from venture capitalists.
7. Get the capital you need to drive forward.

What is the cheapest source of funds?

Debt is considered cheaper source of financing not only because it is less expensive in terms of interest, also and issuance costs than any other form of security but due to availability of tax benefits; the interest payment on debt is deductible as a tax expense.