Nigeria motivation speakers and promoters of entrepreneurship, over to you. Someone needs your help please

slawormiir:
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"

is white tiger d real shit

Bootstrap cos naija banks no dey give loans to new businesses

You have to hustle for your money first.....atleast have a savings of 200k in your account then you can borrow extra loan to support the business. My sister started her business on loan and today she is doing fine after clearing all the debts. Though as her brother.
I have the money she need to start the business but I told her to go and loan first to start(reason why I did this is to make her learn that to get money no dey easy and she must learn how to spend wisely). But I don reserve the money for her just incase of incasity. After she has cleared her debt then I gave her a good amount to increase her store. As at Today she is having two stores. So my advice for you as a guy wey you be, just keep hustling and save aggressively. Good luck

My friend go to lapo to see the other side of borrowing. Sincely you just have to try harder to raise startup fund. Start small to get big later. Most especially try people that trust you by 60% and above...you might succeed.

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.

Go on YouTube.com to learn a digital skill...

Use that skill to freelance and rais money gradually. It could be just writing articles, it could be graphics design, it could Wordpress set up, it could animation, it could be email marketing... just learn the ropes.

You can also search nairaland for these tips too. when you have mastered the on you choose, start offering it as a service and let them pay you.

If you are deligent enough, you should be able to raise $1k-$2k for a start after some months of course.

So in essence, get a skill, sell that skill and use it to raise money.

Now, if you do not have a laptop, use your phone to learn the skills and in turn start teaching people who will pay you. save up the money you make, rinse and repeat. Then go buy a laptop to ease your work.

1. Learn a skill. 2. Sell A skill, 3. Make money...

BYE!

Jimmy231:
Waiting man wan do like this

Bros I tire pass...

Bloomeverywhere:
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.

How did Nigerian startups like Flutterwave and Paystack do their crowdfunding?

slawormiir:
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"

Check DM bro

Hard

R2bees:
Like saving bah?

Yes

Chat me, I will give u the money.
Must be less than 1m

slawormiir:
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"

Let me smoke my ogiri in peace

tutudesz:
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
Look for investors online, but sign agreement 1st before discussing your ideas with anyone.

I won't this is a lie, but I can tell you now that banks are more relaxed in giving out loans, esp working capital. As long are you are really in the business, banks can now give you up to N20m working capital without asking for land or property. I work in a bank as a relationship Manager and I have given several of such with no collateral except for key man insurance and fire insurance. Specifically to people trading in fmcgs

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.

Honestly it's hard bro. You have to use investment bankers and to hire investment bankers no be beans. Their charges alone is enough to start some small business. Investment(crowdfunding) is like the easiest route but you'll still have to register the business which will still take at least a mil or two from you. If you can just run it anyway without appropriate registration(convincing investors might be a bit difficult though). The only other way is work and save up or donations from friends and family.

revived:
E go be

Brodaman true true E Go Be......

Everywhere go still soft sofar man no giveup.....

Electricity is always a challenge and i am always happy to be part of the solution to that. Do you need an mps? Mobile Power solution for laptop, led tv and decoder, light bulb, fan, Phones e.t.c fully assembled by Nigerian for Nigeria for the last five years and still waxing stronger. 50k for 100,000mah guaranteed to power you pc for more than 10 hours. 75k for 180,000mah guaranteed to power pc for more than 18hours. All are built with brand new liFePo4 battery.

greatman247:


How do you do that successfully?

I met some individuals who has zero knowledge about cryptocurrency of are familiar with the word BITCOIN, I started with my sister, introduced her to it and showed her some fact about profit in the long run, she agreed and gave 200k for a start, the next was my friend brother who own a pharmacy told him everything he needs to know about cryptocurrency and luckily for me, he best friend was there with him and the two gave me 250k combine, the last person that gave me was a customer in my brothers shop, gave me 70k I introduced it to him and boom... That how I started trading... I usually update all of them about there money and ensure them there money is safe and sound, last month I mada profit and gave them there percentage, current more people are interested in it...

If you don't have capital, OPM is a way to go, forget people telling you about crowdfunding, it will be harder to get one in Nigeria...

slydog:

I won't this is a lie, but I can tell you now that banks are more relaxed in giving out loans, esp working capital. As long are you are really in the business, banks can now give you up to N20m working capital without asking for land or property. I work in a bank as a relationship Manager and I have given several of such with no collateral except for key man insurance and fire insurance. Specifically to people trading in fmcgs

If your bank has a more relaxed loan procedure and requirement, my bank doesn't. So your statement about my comment is very wrong there are high risk businesses were collateral are needed, before getting loan and I expect you to know this.

Through personal savings, family and friends

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.

I was about to open a thread on this asking for start ups seeking funds to reach out to me. I know an angel investor who’s seriously looking to invest in startups, especially those based in the tech industry. Send me an email so we can discuss further

Bro na lie be this oooo. You can't approach a bank for 10m and they'll request for a collateral Worth of 100m. Which year was that...?
Because today, Banks don't consider collateral as a yardstick for lending...
You know why, it's because it's near impossible [sic] to perfect any property documents in this country... For any property to be accepted by Banks as a collateral, the (land or any physical structure) must have
*C of O
*Survey certificate
*Approved plan and other legal papers.
We all know that it's only the governor that can prove this document (certificate of occupancy) and ever since the last general election, if not all so many of them has not signed a single one.

Banks don't finance startup.... They finance existing business that has a good cash flow... So if your looking for funds to start up... Look for Angel investors, VC firm, and VC individuals.

You that said you were looking for 10m, has your business ever made up to that amount before, do you have the cash flow that will support the funds... I'll advise you to go to bank of industry BOI. Thank me later

tutudesz:
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

A lot of Youths are into bitcoins, it wasn't their dream. but this buhari government has rendered alot hopeless. or you get employed. with a vision to raise funds.

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.

If a startup shows potential everyone will want to hook up so all u will need is to organize presentations to the “right people” or contacts and the right investor will show up. Simple.

Bt protect ur interests and biz idea.


If the is not way to verify convincing potential then sorry nobody is obliged to take such risks with u. This is business.

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.

first n foremost, register a businessname. frm there its easy to access funds.

slawormiir:
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"

2010 or 2021?

sulexrio:
Pleas mail me and let me understand your start up! If is already in development, I can discuss further with you.

Sir my own is at idea stage in agriculture
Also looking for an angel investor

Billyonaire666:
As a Start-Up, I believe you are not yet de-risked so you need your Seed Funding from Venture Capitalists of Angel Investors nature, alternatively, you can register with any Business Incubator or Accelerators to navigate your growth curves and get your prototypes perfected for Second round of capitalization for productions and probably tertiary round in order to scale your solution(s) or products. All depends on how far your investors want to with you, I prefer you dive with the dolphins instead of swimming with the sharks.

Savvy?

How can one get it done

Do you by chance work with GTBank?

I run an FMCG business and need funds to increase my sales volume and currently have an healthy bank turnover but getting a loan has been difficult and saving has been a tall order!

How can I reach you?

slydog:

I won't this is a lie, but I can tell you now that banks are more relaxed in giving out loans, esp working capital. As long are you are really in the business, banks can now give you up to N20m working capital without asking for land or property. I work in a bank as a relationship Manager and I have given several of such with no collateral except for key man insurance and fire insurance. Specifically to people trading in fmcgs

Brunosamel:
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....

And the day you lose? What excuse will you tender? Or simply disappear into thin air?

slydog:

I won't this is a lie, but I can tell you now that banks are more relaxed in giving out loans, esp working capital. As long are you are really in the business, banks can now give you up to N20m working capital without asking for land or property. I work in a bank as a relationship Manager and I have given several of such with no collateral except for key man insurance and fire insurance. Specifically to people trading in fmcgs

Does it mean you can find start ups

get a job. then save