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How Can A Nigerian Business Startup Raise An Initial Capital? - Business - Nairaland

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How Can A Nigerian Business Startup Raise An Initial Capital? by LivingADream: 11:23am On Apr 13
I have a question for nairalanders.

How can a Nigerian business startup who doesn't have financially strong friends and family to turn to, raise fund for a business idea?

I have been struggling to raise some money to invest in a business idea without any success yet.

Thank you for your honest and helpful answers.

PS;

No substantial savings and no collaterals.

12 Likes 3 Shares

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by slawormiir: 4:22pm On Apr 26
Damnnn niggarrrr
Isoright

Do some real dope shit son....

Then immediately you hit it .....then quit...and start up the business...

Watch that Indian movie...titled "white tiger"

34 Likes 9 Shares

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Chummynoni(m): 4:22pm On Apr 26
do any odd job to raise money

3 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Brunosamel(m): 4:22pm On Apr 26
Is quite hard to get one unless you well connected or from rich family members,

My advice work your ass off, save enough and start your business

If you are trust worthy you can use OPM to start your business.... Currently I'm using other people money to trade cryptocurrency distribute there profit by the month....

8 Likes 2 Shares

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 4:22pm On Apr 26
Forget Nigeria Banks O!! Once requested for a loan of N10 million to upgrade my business to stage 2, only for the loan officer to request for collateral worth N100 million shocked
Look for investors online, but sign agreement 1st before discussing your ideas with anyone.

11 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by OgbanjeProphet: 4:22pm On Apr 26
shocked
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by munstaqq: 4:23pm On Apr 26
D
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by dgr8truth(m): 4:23pm On Apr 26
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by wallay77(m): 4:23pm On Apr 26
That question needs answer.. facing same problem here...been outta school since 2018,no job in sight no capital to start business...man no won do Yahoo

30 Likes 2 Shares

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by merits(m): 4:23pm On Apr 26
piggy bank can help.

1 Like 1 Share

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by DaddyGngeess(m): 4:23pm On Apr 26
It wouldn't be easy, get a job and save for some years, nobody will give u any money

2 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tunwumi: 4:23pm On Apr 26
Yes
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Bloomeverywhere: 4:23pm On Apr 26
Op, you can crowdfund. issue shares / units/ token to the public for a stake in the project / company.
you can raise any amount in the world, if you can sell yourself or company to the world.... There's lot of money in the world. the only issue is redistribution.
Convince the world you deserve some of their money to start your business or project... Go boy, you can.

20 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by revived: 4:23pm On Apr 26
E go be
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by emapraiz(m): 4:23pm On Apr 26
Take a loan
But it's risky

2 Likes 1 Share

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by lekki1444: 4:23pm On Apr 26
ask aboki wey dey change dollars undecided
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by sonnie10: 4:23pm On Apr 26
interesting
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by ictjobber: 4:23pm On Apr 26
Family and friends


That was how I started mine way back in 2016

2 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by bigpicture001: 4:24pm On Apr 26
Through family ND friends or selling of valuables.. But don't take a loan

5 Likes 1 Share

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by AFULA(m): 4:24pm On Apr 26
Okay
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by FreelanceRebel: 4:24pm On Apr 26
LivingADream:
I have a question for nairalanders.

How can a Nigerian business startup who doesn't have financially strong friends and family to turn to, raise fund for a business idea?

I have been struggling to raise some money to invest in a business idea without any success yet.

Thank you for your honest and helpful answers.

PS;

No substantial savings and no collaterals.

It's going to be hard
But if you were able to solve a major problem relating to Agriculture, Tech, Fintech, you might get funded quickly
Also, try to make research online for any platform online that connect entrepreneurs like LEAP Africa. Also, be on the lookout for Tony Elumelu Foundation TEEF yearly program.

12 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Kennyking1234: 4:24pm On Apr 26
D
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by wordsNOTswords(m): 4:24pm On Apr 26
I'm also looking for the same opportunity.
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by damiloladuke: 4:24pm On Apr 26
Bank

1 Like

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Adedotguy: 4:25pm On Apr 26
sad
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by d4gmail: 4:25pm On Apr 26
Ask Naira Marley.

1 Like

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Jh0wsef(m): 4:25pm On Apr 26
Whatever business you come up with, you need to reach the targeted audience to succeed. And with good branding, you will definitely do so because of the way you present your business will either convince or confuse your audience / buyers.

Let us brand your business, either new or existing. We are up to the task



https://www.nairaland.com/5586025/hey-check-out-designs

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Akpuobi1: 4:25pm On Apr 26
Prepare a financial model and business plan.

Prepare a Project/Business teaser.

Use internet the to search angel investors, Or wealthy people you know can invest or ministries/agencies related to your startup niche i.e. if your startup is I.T, based you search for funding at Minister of Communications and Digital Economy in Nigeria.

Send them your business/project teasers. If your business idea is good, the will invite you to pitch.

When pitching, use your financial model to show them how they will recoup there money back if they invest in your startup and expected yoy growth of your business, as well as how Nigerian masses will benefit from your idea.

If it's worth it it, the will invest in you.

10 Likes

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by sulexrio(m): 4:25pm On Apr 26
Pleas mail me and let me understand your start up! If is already in development, I can discuss further with you.

1 Like 2 Shares

Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Yusufisraelj(m): 4:25pm On Apr 26
The easiest way my guy (is you) first what can you offer and to whom are you offering it.

Let me ask what high income skill do you have right now?
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Bbbwings: 4:25pm On Apr 26
Family and friends.
Dont expect me a stranger raise funds for you.
Na naija we dey and bubu is in town.

2 Likes

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