Its not a thing of joy as no one is talking about the manufacturing sector anymore. I feel the pains when one approach a financial institution and they list their requirements, you end up staying away than get close. Meanwhile, fintech start up raises millions of dollars every now and then.
Are those venture capitalists don't value the manufacturing sector at all or manufacturing businesses are of less value? Or just the norm?

Good morning entrepreneurs

Hi,

For manufacturing, you stand a better chance approaching BOI and Nirsal. These are government instututions, they can finance buying of machineries required to start up your manufacturing business.

I have also observed that VCs are mostly interested in businesses that have an app and not mortar and brick businesses, you can't blame them, the overnight ROI the get if they succeed is the main attraction I think.

All the best.

Op what do you want to manufacture?

Lets work out a system that will solve the manufacturing problems in Nigeria.

The VC's in America are into fintech cos it booming and they dont have a manufacturing problem.

In Nigeria the case is different, we have a manufacturing problem that must be solved.


There is a way.

LikeAking:
Op what do you want to manufacture?

Lets work out a system that will solve the manufacturing problems in Nigeria.

The VC's in America are into fintech cos it booming and they dont have a manufacturing problem.

In Nigeria the case is different, we have a manufacturing problem that must be solved.


There is a way.

Thanks a lot for your response. Indeed, the fire of manufacturing sector of Nigeria must be rekindle with urgent alacrity. I have inculcate and absorbed the idea of bringing technology into my business model. Which will make sourcing of raw materials (wte) easier.
Am going into production of biodegradable films and SBs, shrinks.
I plan to start in phases; 1st with recycling and amasses enough materials and then proceed to production in phase 2.

Aquilazng:


Thanks a lot for your response. Indeed, the fire of manufacturing sector of Nigeria must be rekindle with urgent alacrity. I have inculcate and absorbed the idea of bringing technology into my business model. Which will make sourcing of raw materials (wte) easier.
Am going into production of biodegradable films and SBs, shrinks.
I plan to start in phases; 1st with recycling and amasses enough materials and then proceed to production in phase 2.

Fantastic.

You are setting up a factory very nice.

We are not manufacturing in Nigeria cos we dont have a manufacturing culture, we prefer building houses, buying cars and importing. I believe a group of people can turn things around.

LikeAking:


Fantastic.

You are setting up a factory very nice.

We are not manufacturing in Nigeria cos we dont have a manufacturing culture, we prefer building houses, buying cars and importing. I believe a group of people can turn things around.

Yes king, setting up a factory from scratch. Your encouragement is appreciated a Milli fold bro.

Outcome of my journey to BOI last WK:
1st: I was asked to bring a land with CofO,
2nd: Two high profile guarantors with weighty capacity.
3rd: I must have put my structure in place in a well secure environment. They will only get the machinery and working for me.
Total sum of money required for this is #30,000,000 only with 6months salary of workers and installations.