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8 Ways To Raise Capital For Business In Nigeria - Business - Nairaland

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8 Ways To Raise Capital For Business In Nigeria by Ubijus1(m): 5:39pm On May 27, 2018
One of the major factors making business establishment rather difficult is the issue of finance. Many Nigerians do not know how to Raise Money for Business in Nigeria and this tends to hamper business progress.

Those among them already operating one business or the other are forced to remain perpetually on small scale level due to lack of funds to expand such businesses. In this write-up anyway, you will get to learn one or two things you can do to raise funds for your business right here in Nigeria.

Personal saving

You can save up some money to run your business instead of relying on anyone for help. You do not need to save much each time. Just saving a little at a time can amount to much at the end of the day. The best way to get fund via this way is to start saving early.

Start saving from the very first day you conceive the idea and it would have amounted to so much after some times. Some are of the opinion that starting with your own savings will prompt you to manage the money very carefully and this can help build up your business within a very short period of time.

Partnership

This is yet another way to raise funds for your business in Nigeria. All you have to do is to go into partnership with someone ready to foot the bills to establish the business, while you bring the business idea to the table. The two of your will work based on agreed business formula.

This method had been known to work quite fine over the years. You do not need to depend on the partner alone for the fund. The two of you can team together to raise the funds based on percentage sharing.

Crowd funding

Many people are now into crowd funding as a means to raise funds for business. Truth is crowd funding is not so popular yet in Nigeria as there is yet to be a website set up for that purpose. Be that as it may, it is already being used by many offline. There is however possibility that it will grow more popular online as the years go by.

Crowd funding can come in form of cooperative societies. Another form of crowd funding is via family members and friends. You can equally raise funds through religious groups. . All you have to do is exploit your membership of such a religious group and you will be able to raise funds for the business before long.

Entrepreneurship programme

You can equally enroll in many of the entrepreneurship programs in Nigeria to raise funds for your business. There are many of them there in Nigeria and you can easily join any. What these people do is to listen to your business idea and find out how feasible it is. Then they will consider sponsoring the business based on agreed terms.

They assess your business proposal and those of other members in the program. You are sure of getting the desired fund to finance your business if your business proposal is acceptable. Interestingly, these organizations may not even ask you to pay back what you are being given as business fund.

Sales of assets

There is no point in keeping items you do not need urgently. Why not just sell them off to raise funds for the business? When the business begins to prosper and make good profit, you can always buy those items back. If you have landed properties, you can sell them to raise funds.

Also, there are some items, like cars, electronics and other stuffs you can sell off to raise funds. Raising funds this way will give you peace of mind and you will never have to worry about paying back along with interest. You will be able to do your business with peace of mind and grow at your own pace.

Online business

If the truth must be told, online business costs far less than many of the brick and mortal businesses people do. For one, you will never have to spend so much money to rent shops. You only need to put together a wonderful website and this puts you in good position to get the desired loan. Here is a free phone number budgeting loan, so you can find the best loan for your situation.

A functional business website will only cost just a fraction of the amount you would spend on resting and fitting a brick and mortal shop. Additionally, a website will help take your businesses beyond the limited scope of your environment to far beyond.

You can also raise funds for your brick and mortal business via the internet. There are so many things you can do online to raise funds.

Get an employment

You can also get job to raise funds for your business instead of borrowing or waiting for someone to help you. All you have to do is to do is to simply mange your finances and keep aside particular percentage every month.

You will also have to give yourself a target of how long you want to take to raise the fund needed for the business. You can give yourself a target for 2 years to raise the required fund for the said business.

Visit development bank

Development banks do not charge as much interest rate as other banks. In actual fact, you can also get fund for your business. Many of these development banks have programs in place that can help fund small and medium scale businesses. Examples of such banks are Agricultural Bank and Bank of Industry.

One other thing that makes them helpful is that they do not ask you for collateral in order to give you the required loan for your business. Microfinance banks too are helpful too. Some of them give loans to small scale business and they allow you to make repayment over a given period of time.

Most of the time, they too do not ask for collateral to give you the loan required to establish this business. Bank loan too is yet another means of raising funds for your business. The only problem is that banks always ask for collateral. You can approach these banks if you have collateral you can present for the loan.

Source: http://wakanda.ng/raise-money-business-nigeria/

11 Likes

Re: 8 Ways To Raise Capital For Business In Nigeria by marsh4332(m): 5:15pm On May 28, 2018
9. BEG Hushpuppi.

13 Likes 1 Share

Re: 8 Ways To Raise Capital For Business In Nigeria by Donald3d(m): 5:16pm On May 28, 2018
cool

1 Like

Re: 8 Ways To Raise Capital For Business In Nigeria by slyfoxxjoe(m): 5:16pm On May 28, 2018
ok
Re: 8 Ways To Raise Capital For Business In Nigeria by OJOAYODEJI(m): 5:16pm On May 28, 2018
Nice concept and composed stuff.
Re: 8 Ways To Raise Capital For Business In Nigeria by bentlywills(m): 5:18pm On May 28, 2018
Me sef need capital
Re: 8 Ways To Raise Capital For Business In Nigeria by Seeker091(m): 5:21pm On May 28, 2018
I even thought say there is assurance way alike Chiomma 60M project fund. Anyway let's see other people perspectives.
Re: 8 Ways To Raise Capital For Business In Nigeria by wakandanation(f): 5:24pm On May 28, 2018
That's cool.

You can also make money on www.wakanda.ng
Re: 8 Ways To Raise Capital For Business In Nigeria by czarina(f): 5:37pm On May 28, 2018
Good one Op wink














Check my profile if you live in Jos and environs cool
Re: 8 Ways To Raise Capital For Business In Nigeria by WomenTrainer: 5:39pm On May 28, 2018
Ask God to touch someone's heart to support you.

www.WomenTrainer.

1 Like 1 Share

Re: 8 Ways To Raise Capital For Business In Nigeria by Ibrahim505(m): 5:41pm On May 28, 2018
You can also raise capital through compounding gains with Forex trading but, only if you are smart.

1 Like

Re: 8 Ways To Raise Capital For Business In Nigeria by moneyadulttube: 5:46pm On May 28, 2018
By looking for Job and checking my signature
Re: 8 Ways To Raise Capital For Business In Nigeria by Alejoc(m): 5:49pm On May 28, 2018
Trade your skills for money cool
Re: 8 Ways To Raise Capital For Business In Nigeria by lenghtinny(m): 5:56pm On May 28, 2018
Bottom Power ( Exclusive to the female folks only)

1 Like

Re: 8 Ways To Raise Capital For Business In Nigeria by Britishcoins(m): 5:57pm On May 28, 2018
Recycled news and nairaland are like Buhari vs cow
Re: 8 Ways To Raise Capital For Business In Nigeria by kelvine(m): 5:59pm On May 28, 2018
Tell me how


wakandanation:
That's cool.

You can also make money on www.wakanda.ng
Re: 8 Ways To Raise Capital For Business In Nigeria by seyigiggle: 6:00pm On May 28, 2018
all these points does not apply to Nigeria

1 Like

Re: 8 Ways To Raise Capital For Business In Nigeria by inkboy: 6:04pm On May 28, 2018
There are plenty ways to raise capital for Business in Nigeria
9. Rob a bank
10. Kidnap polithievechians successfully and ask for ransom
11. Whistle Blowing
12. Become a deeck-sucker like Bobriskie
13. Bust Oil pipelines
14. Kidnap polithievechians successfully and ask for ransom
15. Kidnap polithievechians successfully and ask for ransom

Thank me lerra grin cool wink

1 Like 1 Share

Re: 8 Ways To Raise Capital For Business In Nigeria by Princedapace(m): 6:38pm On May 28, 2018
I will train you on a skill that can help you make money online.

Professional skill anyone can learn fast. All u need is a good laptop.

Check out some of the amounts some of my clients paid me to render this service.

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Re: 8 Ways To Raise Capital For Business In Nigeria by wakandanation(f): 6:53pm On May 28, 2018
kelvine:
Tell me how


visit the link on my signature
Re: 8 Ways To Raise Capital For Business In Nigeria by Remix10(m): 7:00pm On May 28, 2018
Ibrahim505:
You can also raise capital through compounding gains with Forex trading but, only if you kare smart.

Teach me nah
Re: 8 Ways To Raise Capital For Business In Nigeria by jinka(m): 7:04pm On May 28, 2018
Ibrahim505:
You can also raise capital through compounding gains with Forex trading but, only if you are smart.

pls can you show me how I can do that?
Re: 8 Ways To Raise Capital For Business In Nigeria by FoddsCapital: 8:54pm On May 28, 2018
9. Venture capitalists.
Re: 8 Ways To Raise Capital For Business In Nigeria by speed40(f): 9:04pm On May 28, 2018
Nice right up. It is nice to widen your horizons. Don't depend on single capital. Diversity your business.
Re: 8 Ways To Raise Capital For Business In Nigeria by Mendelssohn(m): 12:05am On May 29, 2018
Op apparently has a very faint idea about crowdfunding. For crowdfunding experience you'll always live to enjoy, contact 08169664444 for tutelage and mentorship.
Re: 8 Ways To Raise Capital For Business In Nigeria by FrankTalk1: 5:46am On May 29, 2018
Thanks for the insight.

There are other proven ways to raise Capital for your business that the OP left out.

SEE THEM HERE.
Re: 8 Ways To Raise Capital For Business In Nigeria by 91119111c(m): 1:56pm On May 29, 2018
u forgot to add, be born into a rich family like davido and dj cuppy
Re: 8 Ways To Raise Capital For Business In Nigeria by ijc999: 3:10pm On Nov 22, 2018
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Re: 8 Ways To Raise Capital For Business In Nigeria by NaijaPress: 4:32pm On Nov 02, 2020
Lack Of Planning, Insufficient Capital In Business
Every entrepreneur who wishes to start up a business or set up a venture always have one at heart, and that is making as much profit as possible as a result of the business adventure. However, for a business to blossom depends on the plan on ground, like the saying goes "When you fail to plan you plan to fail". As rightly outlined, every business deserves a chance to grow and how do you achieve this, it is only by having a plan that and then following the plan to the latter. https://www.nigeriabusinessplan.com.ng/lack-of-planning-insufficient-capital-in-business/
Re: 8 Ways To Raise Capital For Business In Nigeria by TradeNAIRA: 11:28am On Feb 01, 2021
We are always looking for new exciting business startups to raise funding for. Visit our website at https://tradenaira.com/pages/projectfunding#/categories

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