Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,753,532 members, 6,540,452 topics. Date: Saturday, 16 October 2021 at 04:58 AM

How Can A Startup Manufacturer Get Capital In Today's World ? - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / How Can A Startup Manufacturer Get Capital In Today's World ? (168 Views)

Joshua Udom Exposed: How To Get Capital For Your Business Fast! / Setup Your Own ISP Business With Small Capital in Nigeria / How To Start A Window Blind And Wall Paper Business With Zero-capital In Nigeria (2) (3) (4)

(1) (Reply) (Go Down)

How Can A Startup Manufacturer Get Capital In Today's World ? by Aquilazng(m): 4:54am On Apr 27
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?
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by Aquilazng(m): 8:25am On Apr 27
Good morning entrepreneurs
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by ATTAHDYE(m): 12:29pm On Apr 27
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.
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by LikeAking: 1:45pm On Apr 27
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.
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by Aquilazng(m): 2:25pm On Apr 27
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.
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by LikeAking: 2:32pm On Apr 27
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.
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by Aquilazng(m): 8:26am On Apr 28
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.
Re: How Can A Startup Manufacturer Get Capital In Today's World ? by Aquilazng(m): 12:15pm On May 01
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.

(1) (Reply)

First Bank In Deep Problem As CBN Sacks All Board Members And CEO / We Can I Find Qaulity Men Clothes Wholesale From Lagos / To All Those Who Wants To Start And Begin A Full Time Business From Zero Naira

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 39
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.