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|How To Raise Capital For Your Business With Ease by albertflex(m): 5:25am On Sep 04|
Getting money to start a business is one of the biggest problems faced by many people, especially in Nigeria.
If your papa no be Dangote or Adeleke (but you go dey OK), i mean if you don't have rich parents or relatives, you will understand what I really mean. E no dey easy.
I know most of you have dope business ideas, but no money to start it. And that brings us to the big question:
How do you get CAPITAL to start or grow your business?
Let me spill it out immediately, the 3 most popular ways people get capitals to start their business is: 1: Loans 2: Investors 3: Grants (Awuf money from organisations and govt).
Most of you know this already and so I will move on to the real problem which is How to get a Loan, convince an investor or win a grant.
To get a loan, convince an investor or win a grant, there are 3 very important things you need to do.
1. Get your business ready? What I mean is this, write out your business structure, register your business with corporate affairs commission, open a corporate bank account, do a proper market survey to understand how much money you need to start the business, how to spend the money and how much profit you will be getting.
2. Write out your business plan: Write or get someone to write for you a professional business plan which will provide information about the company, market analysis, competition analysis, business model, operational cost plan, marketing strategies and financial plan.
3. Choose a way to get your capital: There are lots of ways to source for capital to start your business, they include Friends & Family, Loans, Investors, Grants, Private Equity etc each of these sources have their advantage and disadvantage.
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