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Why Is It Hard To Get Investment As A Start Up In Nigeria? - Investment - Nairaland

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Why Is It Hard To Get Investment As A Start Up In Nigeria? by Nobody: 9:37am On May 14, 2020
Good morning guys, I have decided to just write this as an entrepreneur who is also struggling with this. Technically the SMEs are the driver of the economy because we contribute about 49% - 51% of the GDP but it is saddening that startups aren't encouraged in this part of the world. Firstly, getting angel investors is almost an impossible task because of reasons I don't know and also those who want to maybe loan money ask for outrageous loan requirement. Imagine wanting to borrow #2Million and you are asking me to get a collateral of about 50% of what I want to borrow, if I have that do you think I would need the service of a loan provider? It's just discouraging but we just have to keep pushing.

Do let me know your experience too and what you think one can actually do in situations such as this.

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