₦airaland Forum

Hello.

Ensure it's not all your savings/ capital you are putting into the business, since you just want to start.

Carry out a small market survey around your target location, identify type of market there and your target market.

Look out for what others offering similar value are doing right and what they are not doing right. This is where you'd offer your potential customers better service.

Its of 2 ways:
1) rent a good shop, get a quality generator, create many barber's corner that the space could take without making any client inconvenient and provide seat, mirror, tool box for each corner. There you go, set a weekly delivery agreement with each barber that buys space. You should have done a survey of barbers within that location to be sure you'd find quality ones, this is what could make or mar your business, open a bank account, register your business and set a reasonable target for each barber.
2) Take charge of the whole operation yourself after studying the business properly.

All the best.

Visit www.angelstartups.com.ng as an Entrepreneur, you may meet an interested investor.

@cbrass, you must be an interesting personality.

It's cool though.

Still open.
Send your c.v to angelstartups@gmail.com

Yes, you are free to freelance and earn more income on aside.

Do send your c.v to angelstartups@gmail.com

www.nairaland.com/1998269/what-economy-implication-oil-price#28075890

Hello, if you followed the link above, the report of fuel subsidy removal would not come as a surprise.

And infact, its not a full removal but about half that was proposed.

You could also see a proposed cut in capital expenditure through cuts in SURE_P.

It's a good development when you identify a problem and acknowledge it and also begin to act to solving the problem(s).

Nigeria must begin to conscientiously develop her areas of comparative advantage to become more productive and less dependent on a mono_product system. It may be interesting to note that this same crude oil for instance contribute only about 21,000 jobs directly and if you factor in Government employees (less than 750,000), you have a paltry 1.8% contribution to employment in Nigeria (Labor force is estimated at 55 million).

Nigeria's area of comparative advantage is land and labour to a good degree and therefore, Government's fiscal policies, focus and drive should be towards sectors that can harness these 2 key factors of production: Agribusiness and Manufacturing. These will create more jobs, reduce unemployment,reduce insecurity, and position Nigeria to a multi_product economy.

Regards.

Hello kessel.

Try this: Divide the capital into 3 and:

1) Invest in treasury bills (it gives you capital security and yields about 10% p.a)

2) Look out for what you are passionate about and spend some funds acquiring basic business capacity building knowledge (a 1_week long training should suffice), then start with the second portion

3) Finally, leave this in your business account to support your business when the need arises, profits won't come immediately

Visit www.angelstartups.com.ng for more assistance.

Cheers.

Hello Jennysmart.

Where does your passion lie? Try to identify this and then you would be on the right path to true independence. However, note that business does not give you more time to yourself (if that's what you want), rather business is 9am_8.59am the next morning because as you are sleeping you are thinking and strategizing about your business.

Haven noted that, you are likely to lose your first business seed (do not be scared, this is almost a normal and natural occurrence) as you may need time to understand the terrain, however, once its what you are passionate about,your passion will keep you going strong even if profits isnt
coming.

Do logon to www.angelstartups.com.ng as an Entrepreneur.

(The analogy above is like when you plant a seed, that seed goes to the ground, dies first, then it begins to spring forth, it also goes through series of harsh conditions as it germinates, but with perseverance and patience (which takes time), harvest time comes and that seed begins to yield bountifully.)

All the best.

Hello Kevin.

First of all, you must have started your idea/ music project with your funds (and it's good to know you have N5m to invest yourself), secondly you have to be convincing in terms of viability, your character, how lucrative (but realistic) your project looks and then investors can take it up from there.

You've got to take this by the 'horn'. Send your proposal to a few investors who have signed up under the music industry (that's what we have created for you). At the same time, if you send your proposal to us (angelstartups@gmail.com), we could also assist you connect with highly placed Investors who will invite you for serious discussions. Do these and let's see progress.

(Note: Check your junk/ spam mail for the link we sent to you, or better still sign up again to move forward, all the best)

Cheers.

Hello.

If you have proven cash flow so far and records are available, then come to angelstartups.com.ng.

Regards.

Hello all.

This was coming. If you followed this discussion: Implications of oil price on Nigeria,www.nairaland.com/1998269/what-economy-implication-oil-price#28075890

You'd have expected an austerity measure.

Government's role in every society is to stimulate and create enabling environment for private participation while playing the other role of fair umpire. This include infrastructural development, solid healthcare system, affordable basic amenities, affordable basic needs of life (food and housing).

To achieve these, there must be funds to execute capital projects. Nigeria's budget is 73% recurrent (going into pockets) and 27% capital. The country's revenue come mainly from sale of crude oil (2million bpd on average) and also tax receipts. Now if the revenues from oil drops, then a quick fix would be to aggressively increase tax receipts. This is however not sustainable.

Nigerian Government spends billions of dollars on:
1) Food importation
2) Oil importation
3) Health care of top public officials

Nigerians (Private) also spend billions of dollars on:

1) Travelling abroad for studies
2) Vehicle importation
3) Wines
4) Technology (computers, etc)
5) Vacation abroad
6) Generator importation (as a result of epileptic power system)

To mention a few.

These transactions all have implications on Nigerian economy.

With efficient/ effective farming system, Nigeria should export food and not import. (Food imports have reduced though with the current Minister of Agriculture, but could be better)

With functional refineries and open market pricing, there would be no need for subsidy or oil importation.

With functional healthcare system, Government officials get treated in Nigeria.

For the people of Nigeria, there is need for active participation in society in public policies. As long as you find short cuts to problems (sending your kids to abroad for studies, buying foreign made goods, travelling here and there when there are beautiful tourist centres in Nigeria, importing generators that pollute your air and reduces life span, then the problems will not go away).

Every functioning economy has a balanced society, where citizens actively and peacefully participate in making their countries work. Governments are prone to do whatever they like and until citizens pause to ask questions and stop looking for short cuts, both the public officials and millions of citizens will partake in any austerity measure they are faced with.

Regards.

And so YOUWIN 4 opens on Monday November 17,2014. As the competition hots up, what would differentiate you from the crowd is how professional your plan is crafted, in terms of feasibility, potentials to create jobs and promote Nigerian products.
If you are considering sending in an application, come to www.angelstartups.com.ng and learn business plan writing. Better still, mail us on angelstartups@gmail.com and one of our admin will attend to your requests (our official email is admin@angelstartups.com.ng but down due to upgrade).

All the best.

Everyone has rightly noted potential implications.

(1) Less revenue to Nigerian Government, which means less funds to disburse to states/ LGAs, thereby affecting capital projects since most of the revenue allocation go into recurrent expenditure, Government won't lay off people to avoid more social instability, however, projects will stall.

(2) Since Government still relies heavily on crude oil sales, it may begin to look for alternative quick fixes which means increasing tax revenues, reducing subsidies paid and may therefore be talking about taking out fuel subsidy completely (this has always been part of the current administration's agenda, but not likely to implement it until after elections, if re_elected)

(3) Other implications include pressure on naira, pressure on foreign reserves, excess crude account/sovereign wealth fund, with depleting reserves, which is used to defend naira.

(4) Importers will have to pay more for less goods, therefore they'd transfer the extra cost on consumers in Nigeria, leading to cost_push inflation.

Note: price of crude oil is not only determined by market forces, it is a strategic product whose pricing mechanism could be used to deal with some nations by powerful western forces. Russia is also feeling the effect of drop in price, and it may not be unconnected with their role in global politics since annexing Crimea and the plane crash involving hundreds of dutch.

Coupled with that, Saudi Arabia needs their oil in the market to compete with U.S shale oil, if they reduce supply to increase price, there is a substitute now to some extent.

OPEC meets next week to deliberate on this price issue, but before then, price may continue to slide.

Nigeria must take the issue of diversification very seriously and put it at the front burner.

Regards.

Scroll to the Investor's section. It reads Stock/ Money Market.

Hello.

Visit www.angelstartups.com.ng, go to the Stock Market section to see the top 10 stock broking firms in terms of volume and value in the past 10 months.

Cheers.

(You'd find that section under Investor's menu)

Hello.

I.T sector may look saturated, however you could focus on area of passion and carve out a niche for yourself. Some of us think, the sector is just starting to grow, it hasnt even reached halfway.

Visit www.angelstartups.com.ng, sign up as an investor and look for a viable business to try out. Note:Dont try to steal an idea but contact the founder to discuss equity investment, bring in your professional lawyer to sign necessary docs. (you may burn your finger stealing someone's idea, the founder understands his/ her business more than you in terms of the secrets/ vision). You could offer advice and capital.

Cheers.

Hello.

Starting a microfinance bank requires key activities, some of which include;

License to operate (to be applied for with the CBN)
Conditions that go with such license must be fulfilled, even if the license is provisional. Based on your focus, your license type will be a unit-micro-finance license since your target market is the rural area.
Feasibility study
Business Case (Cost-Benefit Analysis)
Environmental Impact Assessment (EIA)
Market & Marketing research and a few other critical enablers.

It is imperative to note that starting a greenfield project like yours is entirely capital-intensive and you must be ready to tarry for a while to break-even (particularly since your focus is the rural community).

This is our take; look around your locality for an already existing micro-finance institution (with existing customers) that is registered with the CBN and willing to take a huge equity to take a big stake in their business, or better still, willing to sell 100%. Before such deal is effected however, you must conduct a thorough due-diligence with expert financial analysts, corporate lawyers and accountants who will assist to ensure the company's books are clean, asset/ liabilities-wise (so you don't buy a company that owes more than it owns to an unbearable extent).

After conducting your due diligence, you may go ahead to conduct some other research around problems with the institution to identify gap areas that you intend to bridge, to improve value of the bank (which must be geared towards delivering greater value to customers).

Haven highlighted all of these, you may still go ahead to carry out a 'greenfield-analysis' (starting a micro-finance bank from the scratch) and compare with purchasing an existing micro-finance bank (or taking a large stake).

Come to angelstartups.com.ng to learn more about business strategies and tactics. Send us a mail via angelstartups@gmail.com and we could refer professional business plan writers to choose from.
(Our official mail is admin@angelstartups.com.ng, but this is down for now due to some upgrade)

Cheers.

Hello.

Are you a versatile programmer/ web-developer, with competencies in php, java, advanced php (added advantage, not compulsory)?
And do you possess excellent client management skill, very good communications skills and delivers projects on time, within budget and make clients smile?
Are you looking at working for your self while also taking on a key role as Principal Web Manager/ developer for a Professional firm?

Send your resume to us via: angelstartups@gmail.com

You would be contacted within the week.

Regards.

Angelstartups Admin

Hello all. It may not be surprising that naira is at a record low in years. The following are some of the contributing factors:
1) Naira is pegged to crude oil, Nigeria's major product and source of foreign exchange (about 85%), the demand for this commodity is lower than supply, pulling the price downwards. When this occurs, Naira as a currency falls on the exchange market.
2) Nigeria is an import_oriented country, importation only occur on internationally accepted currency (the U.S dollars), the more you import, the more you demand for dollars and sell naira, pushing naira down. Remember, we are in the tail end of the business year where trade rise geometrically as compared to other months.
3) elections are exactly 3 months away, Nigerian politicians prefer to carry their money in dollar equivalent for easy mobility, to distribute, buy key state actors, since Nigeria simply plays "money politics", thereby forcing more pressure on Naira.
Soon there may be artificial short-term inflation. This is likely to continue until 2015 general elections, so guys be prepared.

Hello Samuel.

Our official email address is admin@angelstartups.com.ng, this is currently been upgraded at the moment and won't work if you try to mail us, however, for now, you could still send any enquiries to angelstartups@gmail.com. We shall respond promptly.

Hello.

Have you checked www.angelstartups.com.ng? Sign up as an investor and look for an existing business you could invest in and take an equity stake. If you are risk averse (because real sector is for those that are risk-takers), then invest your capital in treasury bills, bonds or mutual funds, you would only earn about N10,000 per annum on it.

Cheers.

Hello.

It would have been better to have had a concept or business idea before applying for the SME loan, however, go to www.angelstartups.com.ng and join as an investor. Look out for a business that exists (operational), registered with CAC and has some cash-flows already, but looking to expand/ grow. You could take a stake in such.

Don't try to venture into an idea you see on the site, the founder of such concept knows the secrets to success more than you, and you may burn your fingers stealing any ideas. Better still, identify a sector you have passion for and look for someone (who has kicked off) willing to take your capital as equity. Remember to sign necessary documents with a professional lawyer.

Cheers.

Hello.

Check www.angelstartups.com.ng and sign up as an investor.

Hello. Go to the top menu look for Send Proposal under Entrepreneur. You would find investors interested in Agribusiness. Click on the button: Send Proposal.

Regards.

Hello great house.
The Nigerian Stock Market is understandably on the bearish trend. First of all, Nigeria is dependent on Crude Oil meanwhile the price of crude oil has reached a 4_year low. This puts a lot of pressure on Nigerian economy (stock market inclusive), and affects exchange rate. When this begin to happen, many foreign investors will begin to cash out/ pull their funds away (selling off their shares).
Secondly, Nigeria is days away from general elections, this sends some funny perception to investors, they panic and sell off, Nigerian politicians also trade off for cash to fund their campaigns, this inadvertently increases stock supply and leads to price fall. Note:foreign portfolio investors make up a large portion of Nigerian Stock Market, therefore what they do largely affect others.
Lastly, the federal reserve just ended Quantitative Easing in the U.S, leaving foreign investors with reduced liquidity to leverage on.
If you want to invest right now, look to real estate (politicians are selling off as well).
The bear will continue for few more weeks (if not months), until
1) Oil Prices begin to stabilize or go up, (not likely this year)
2) After elections 2015
3) Exchange rate falls/ stabilises

Cheers.

Hello Samuel.

We intend to assist you set up a professional investor's meeting within the month, however before then, once you have included your summary proposal and it's approved, go ahead and send it to basic investors through your profile.

At the same time, send us a mail to follow up.

Cheers

Hello.

You need to start the business with your money first no matter how small, then you could invite other people to invest in it. If you find it difficult to commit your personal money in your idea, do not expect potential investors to consider it. If you can scale the business into smaller unit, break it down, raise funds personally through families, friends and personal assets (which you may need to sell), then start the business. Ensure you register the business with Corporate Affairs Commission (CAC) and open a bank account with both microfinance and commercial bank. Do this, and within 3-6 months, you may begin to attract other people to entrust their funds in you, after proving that the business is viable.

Check www.angelstartups.com.ng, sign up as an entrepreneur and put in a compelling case for your business. Who knows.

All the best.

Hello.

Have you checked angelstartups.com.ng? Sign up as an entrepreneur and have a compelling case for potential investors. Its free.

Hello.

Nigeria is a great country with abundant opportunities. You may be shocked to note that yes Nigeria is very safe for foreign investors, that's why you see the likes of Procter n Gamble invest $300million in Agbara, Heineken is planning a huge investment soon, to mention a few, these are both foreign-owned companies. Dangote is investing billions of dollars also and to cap it all the Nigerian Stock Market is dominated by foreign investors, who hold about 60% of the stock market (even though it is understandable that during election periods, they pull out some of their funds in stock market and re-surface after elections).

So to answer your question, Nigeria is SAFE.

(Note: There is what is called Business Cycle. So for any particular business you want to venture into, do your PESTLE analysis to understand when to enter the industry, how to enter and where to position yourself).

Real Estate is on the decline (Nigerian Politicians are eager to sell off their properties even at cheaper rates to campaign and contest forthcoming elections
Stock Market is on the decline because of similar reason above including foreign investors pulling their funds away for now, politicians selling off, therefore supply is more than demand and a few other factors)
Oil Prices are falling (Saudi Arabia for instance is reducing prices to remain competitive as U.S pumps more shale oil in commercial quantities which is a substitute to Crude Oil, etc)

(These are some critical factors to consider before you invest in Nigeria. Nigeria's economy is highly edged on Oil, however, in the short-term, Nigeria is SAFE to a large extent)

Hello.

Look for an existing business on angelstartups.com.ng and take up a stake. Get a corporate lawyer involved to sign required documents.

Cheers.