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How Do I Raise Fund For My New Business? - Business (5) - Nairaland

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Re: How Do I Raise Fund For My New Business? by Kenoxman(m): 4:53pm On Nov 07, 2019
MaziEDOZIE:






As if getting a Job is that easy in Nigeria.
Getting a job in Nigeria, I agree is not easy but it's not difficult either. The major problem is that the available jobs are not what job seekers really want.

1 Like

Re: How Do I Raise Fund For My New Business? by Aphroditee(f): 4:55pm On Nov 07, 2019
shegzydave:
people dont wanna help this days again oo especially if you tell them you wanna use the money for business, i have a friend who have promise to help me since january till now nothing nothing, whenever we are chating he will be sayin he didnt forget me imagine till now from jan-nov, also another friend that one is not even turning up at all, but thank God august this year i met destiny helpers just two people on twitter who God use for me each of them send me 100k each and also one of my uncle send me 30k that how i start business ooo, if you are waiting for friends and family honestly u just wasting time. pray to God for destiny helpers to locate you like God answer my prayer.... those that help me on twitter since august till date i have not heard there voice because they refuse to give me their number we only communicate on twitter......may God bless continue to bless them in every aspect of their life...
Aww strangers helped you with 100k each you're really lucky, i find help tire and eventually gave up trying

1 Like

Re: How Do I Raise Fund For My New Business? by I888(m): 4:55pm On Nov 07, 2019
JoeMaddog:
Buy a laptop, render some freelance services.
If you don't have any skill, learn gradually. In 6 months, you'll start earning. Then you can channel your money to whatever business you want to do.
how effective are course at Udemy?
Re: How Do I Raise Fund For My New Business? by I888(m): 4:56pm On Nov 07, 2019
Aphroditee:
Aww strangers helped you with 100k each you're really lucky, i find help tire and eventually gave up trying
A friend I had never met gave me 1M for my business. I have paid him back though.

2 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by JomoGbomo2(m): 4:59pm On Nov 07, 2019
obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

TG,

You are not asking the right question here, at least not now. You do not raise fund from just an idea stage; you raise fund after starting out and proving the concept in the market.

Other than family and friends, nobody will give you money for an idea in your head so i will suggest the following for you.

1. Start the business idea in your head, bring it to fruition first.

2. Prove and show that the idea is sellable and scalable. Be ready to show data/results over a period of time.

3. Come up with your expansion plan showing your growth plans, how much you need and prospective profits that may come out of it.

If you are creating a good value with your idea, people will come around you to invest. Do not also go around with the notion that the first person you pitch to will fund your business, No sometimes it might be the number 100th person so keep doing the business while seeking for funding.

To put this in perspective Jeff Bezo's was turned down more than 60 times before getting funding for Amazon despite the fact internet boom was already on, so count the number of times you have been turned down, if it's not up to 60 keep asking. Steve Jobs was turned down more than that so who are you? That should always be your motivation.

Finally, keep believing in your dream and vision and one day, you will meet someone that shares same vision and the person will buy into it.

PS: You are free to share your idea here though but go and start it first.

4 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by Aphroditee(f): 5:02pm On Nov 07, 2019
I888:
A friend I had never met gave me 1M for my business. I have paid him back though.
shocked shocked shocked Wooow i am flabbergasted to say the least
Re: How Do I Raise Fund For My New Business? by Kenoxman(m): 5:05pm On Nov 07, 2019
lomprico:


if him see the job he for no create this thread! Abi u get job to give am? pipo sef undecided
From the tone of her post, I don't think the OP has the mindset of working for a salary / wage. Her concern is how to raise fund for her biz besides loan, and I'm trying to let her know she could actually raise fund by getting a job.
I hope you are now clear??
Re: How Do I Raise Fund For My New Business? by Lush100(m): 5:13pm On Nov 07, 2019
they will all say they have paid back only on the internet.

i,ve been there before.

Aphroditee:
shocked shocked shocked Wooow i am flabbergasted to say the least
Re: How Do I Raise Fund For My New Business? by Legendguru: 5:19pm On Nov 07, 2019
Contact banks
Re: How Do I Raise Fund For My New Business? by Sirseedorf(m): 5:19pm On Nov 07, 2019
Doing business in Nigeria is not easy o




But guys how much can one have to start a mini accessories business like earpiece, charges, phone casing?

I don't have much capital but am planning on starting the business on a low budgets.

your contribution and advice is vital..
Re: How Do I Raise Fund For My New Business? by Nobody: 5:19pm On Nov 07, 2019
OgbanjeProphet:
Before you waste your scarce resources on any business in this country, learn and understand the business well. No go open shop just because Chinedu get shop.

God bless your efforts.
No matter how you learn them you need timing, luck, hard work(innovation and physical) to xuxed

I started electricity generation business in awka when I came back from outside just after kicking up the first week price of diesel changed from 175 to 250 and we have already collected monthly payment from customers because we started with meeting 18hrs electricity a day...after months we steblized the whole thing and came back the upper month EEDC connived with NERC to shut frustrate us because about 6 building is already subscribed to us and we have permit from to generate and sell electricity...we took it to court while they kept us shut down upon court order and nothing came out of it except more extortion. I shut it down and from that day I knew Nigeria doesn't want Nigeria to progress
Re: How Do I Raise Fund For My New Business? by Lorenz38200: 5:20pm On Nov 07, 2019
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Re: How Do I Raise Fund For My New Business? by Kenoxman(m): 5:36pm On Nov 07, 2019
obillyj:


Am tired of the 8-5 jobs 6 days a week. You get salaries that you can hardly save. You spend years building someone else dream with nothing to show for it while yours is busy drinking Pepsi.
One needs to take the bold step now or remain at the mercy of employers
I thought as much u don't want a salaried job, and I quite understand how difficult it is to save as an employee in Nigeria that's why I said ''a job that allows you flexiblity of time''. One major reason most employees save little or nothing is
because they spend a lot of time at work. Some don't even have time to cook, wash their clothes and do certain things for themselves let alone think of a side hustle. They come back each day fatigued only to jet off the next day. It therefore becomes difficult to save with this kind of lifestyle. But when u have a job that allows u free time, say a part-time job, contract job, etc, u have time for urself and above all, time for a side hustle. I bet u many contract/part-time workers are better off than their regular counterparts. Do not neglect flexibility of time in any job. Infact it's a criterion some job seekers look out for.

1 Like

Re: How Do I Raise Fund For My New Business? by moststylish(m): 5:47pm On Nov 07, 2019
lilwetdick:
no rich stranger is going to give you money, if you dont start your business, ask money from families and friends especially your father or mother to start

let people see that you have started and also make some cash and people with money will want to support you

lastly, do not collect loans to start a business, you use loan to expand your business when you are making cash not to start
well I was quite lucky. The business I am doing today was actually from the support of a stranger but it wasn't after I have convince him what he stand to gain from his investment.

1 Like

Re: How Do I Raise Fund For My New Business? by webngnews: 5:54pm On Nov 07, 2019
Hmmm
Re: How Do I Raise Fund For My New Business? by benitdavid: 5:57pm On Nov 07, 2019
I started business 2 months ago and I can tell you I got 90 percent support from family. Don’t hope on investors or friends else you will get frustrated
Re: How Do I Raise Fund For My New Business? by IdreamOfUnicorn(f): 6:03pm On Nov 07, 2019
No-one wants to help

I guess you're on your own
Build a foundation with the bricks they throw In a black and white World,
True colors show
Life's like an ill, but try and get a hold
Opinions ain't fact, take em and let em go

2 Likes

Re: How Do I Raise Fund For My New Business? by ManspaceBarber(m): 6:20pm On Nov 07, 2019
qanda:
OP, give us an idea of the business first, the industry it serves, is it a B2C or B2B business? Do you sell a product or offer a service? Do you have a business plan?

Answering these questions will enable the 'Senoir Class' members here offer you useful advice.

The generic response is:
-Family and Friends
-Crowd Funding
-Personal savings
-Take a loan
-Get a Business Partner
-Get an Investor
-Apply for a grant
You follow Strive Masiyiwa? smiley
Re: How Do I Raise Fund For My New Business? by memory123(m): 6:29pm On Nov 07, 2019
Beverlyjean:
Juve 1
Barca1
Spurs 1
Atletico1
Inter1
Young boys 1
Napoli1
Leeds under 3.5
Slavia Prague 1
Az Alkmaar 1

Put 50k... U will thank me later
Hmmmm....people dey ooo
Re: How Do I Raise Fund For My New Business? by UDOKABESTLUV(m): 7:18pm On Nov 07, 2019
obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

Do you want a Loan From 100k to 500k if yes, check me out On Facebook, check out my profile picture
Re: How Do I Raise Fund For My New Business? by Originalsly: 7:35pm On Nov 07, 2019
b0rn2fuck:


I work my ass off to start ordinary game centre and not a single loan or support of 1# from friends and family, I even dash my street bro 50k when he want start printing business but when my turn return walahi shishi I no get , the person way I dash money, even all my babe wey collect turn back to me, such is life


Such is life.... if you dash someone money... don't ever be banking he will dash you in return if you ask later.... even if he can afford to doesn't mean he would. Almost all the time someone would find annexcuse not to part with their money. The same applies to this thread.... why should someone dash you a stranger money? Such is life. If you want to do something... depend on yourself. If the project is too big for you... try a smaller one. Ask yourself.... how much money you have to invest... then do research in your community to see what goods or services are in demand and how you can profit from it. 3xpect nothing from anybody or you will he disappointrf
Re: How Do I Raise Fund For My New Business? by JoeMaddog: 7:47pm On Nov 07, 2019
I888:
how effective are course at Udemy?
very good. You just have to look out for relevant ones.
Re: How Do I Raise Fund For My New Business? by UndauntedYOCA(f): 7:49pm On Nov 07, 2019
I am a corp member here and I get paid some cash, I recently discovered that it'd be better for me to tap into what they have here so I buy their stuffs here and send to the south west where they help me sell. Thing is I realised if you have a dream you must realize with one million and you don't have that one million to start then the best thing is to make use of the 30k you have to set up a business with it, you keep reinvesting the profits and expanding your business till you have enough money to start that your dream business. From 30k to 50k to 100 etc, you don't wait till you have that one million before you start that business cuz sometimes you might wait taya. Only a few people are more than willing to help others these days, family and friends with their own issues, investors will cut off your head with the deal. Trust me bro, I am a lady who wants to be a big time business woman, go into cocoa and other stuffs but I don't have the money, hence the reason I had to start selling yams. Bro if you don't have savings yet just manage your present job, save up no matter how things are tight then start a little business. With prayers and diligence you'll surely succeed, do not forget not to eat with your 10 fingers as a broke man o otherwise you'll regret it. I have given you my own kobo, may God help you. BTW I can supply you yams, local rice and crayfish if you intend selling. Please patronise this hustling babe.

1 Like 1 Share

Re: How Do I Raise Fund For My New Business? by Nobody: 7:49pm On Nov 07, 2019
obillyj:


Am tired of the 8-5 jobs 6 days a week. You get salaries that you can hardly save. You spend years building someone else dream with nothing to show for it while yours is busy drinking Pepsi.
One needs to take the bold step now or remain at the mercy of employers

If you already have a job, why haven't you saved for the business ?

What's the essence of the thread ?
Re: How Do I Raise Fund For My New Business? by BiafranBushBoy: 7:50pm On Nov 07, 2019
adaperry25:
don't be deceived by submitting a proposal to so called investors ..no one is ready to help in this country.. better get your personal funds or funds from family and friends..I created a thread seeking for investors..some feigned interest and later ignored, one of them who is a nairalander was drilling me with questions unending, I was also giving him answers, when he got tired , he simply said he wasn't interested..it's when your business starts booming, you'll see the banks and investors knocking at your door and begging you to invest..that's the real Life

Because there are lots of scammers in Nigeria. Where is your location?
Re: How Do I Raise Fund For My New Business? by justmykel(m): 7:56pm On Nov 07, 2019
JoeMaddog:
Buy a laptop, render some freelance services.
If you don't have any skill, learn gradually. In 6 months, you'll start earning. Then you can channel your money to whatever business you want to do.
Which one would one catch up faster on!
Re: How Do I Raise Fund For My New Business? by adaperry25: 7:56pm On Nov 07, 2019
BiafranBushBoy:


Because there are lots of scammers in Nigeria. Where is your location?
Ogun state..u can pm me on my signature
Re: How Do I Raise Fund For My New Business? by I888(m): 8:16pm On Nov 07, 2019
Aphroditee:
shocked shocked shocked Wooow i am flabbergasted to say the least
lol. We help each other. There was time he was down and needed money as well. He reached out and I gave.. But he did over 1000% of what I gave lol.
Re: How Do I Raise Fund For My New Business? by webngnews: 8:23pm On Nov 07, 2019
Hmmmm
Re: How Do I Raise Fund For My New Business? by JoeMaddog: 8:23pm On Nov 07, 2019
justmykel:

Which one would one catch up faster on!
I've learnt a lot. Animation, graphics. I'm learning programming now. It's all depends on dedication.
Re: How Do I Raise Fund For My New Business? by Carmal90(m): 8:25pm On Nov 07, 2019
JoeMaddog:
I've learnt a lot. Animation, graphics. I'm learning programming now. It's all depends on dedication.
Guide me pls

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