₦airaland Forum

Please kindly send your phone number so that I can reach you

AMI3:
i base in akwa ibom state. we have enof. do u buy in sack or in kilo?

Have been very busy, you should have sent mail

blink182:
You have been really scarce here, I was hoping to work with you in filling my concept note.

call me on 08027463031 or send me mail of what you need fabricated on fete.paul@yahoo.com and I will get back to you with a Proforma Invoice.

konos:
Pls I need assistance. Where can get my machines for production fabricated in Nigeria. This china product is expensive what with level exchange rate now. Urgen

what amount of sales in naira per month must u achieve to reach profitability? Sir look at the question "per month" not one month what does he need to make every month in order to achieve profitability.

Mohammed83:
Daboywizzy, I'm assuming u're writing for a new business. All u need 2 do is determine d month ur business will hit profitability, d sales u make dat month is d answer 2 d question. D month ur business hits profitability is d next month after d month ur business breaks even. For d concept note, since u're not submitting a cashflow analysis YOUWIN! expects u to give a sensible projection of this.

I don't mean to be insulting but I think this is the time we need to show our expertise by helping new applicants in need of help on sensitive section of their application, like the one before us. Lets not push it to the other or correct forum of youwin 4 because they are all new to it we are the experts. so lets help out.

Daboywizzy:
Plz help me ! am applying for youwin 4 nd am havin problems with, what amount of sales in naira per month must u achieve to reach profitability. Is it expected income minus expenditure?

youwin_three@youwin.org.ng

Adulphus:
Drop the email that sent you this mail. Thanks

you don't need one's material. What you need is how to go about it.

openmine:
good morning...pls can i have ur materials on youwin..my email is detromicxs@gmail.com...Thank you!

Cable TV Distribution. Where are you in delta?

blink182:
Finally, I get to meet a deltan awardee. What business are you into?

we must change the way we think and also the way we do things from now on. Let me tell you my experience at the TIN office in Warri. Based on the knowledge I got from this FORUM I approached the officer and ask for my TIN number he started the process didn't ask for anything initially but later said that I need to give him 1000 naira to facilitate the process. My reply was that I don't have no long story. I got my TIN and my VAT.
Lets not explain away our short coming accept and make appropriate correction. There is no way the officer will asked to come and visit your premises before issuing TIN because you have not commence business

KappaJ1:
I'm not in ur shoes, so i won't be able to judge. But the fact that u guys were many (smart guys) and the man was bold enough to obtain all of u to the tune of 5k without fear of being reported still amazes me. We still have a long way to go in this country.

Just finished my account opening with Skye bank. Went well open corporate and they said we are not paying cot on the account, only monthly charges of 1k. Account number to come out by Friday.

awezu:
I think Diamond bank guys are well informed and up to speed , the youwin rep for diamond just sent us mail congratulating us and telling us in details what to do . I called him and he was very polite and friendly.

For those assigned to diamond bank , we are to tell them to open corporate acct with product code 201 and they are to write the code 4719 on your account opening package . So they can identify YOUWIN accounts. They will send these accounts to Fed Min of Finance themselves for disbursement

Just ask for fee for search and cheque book and pay it in if u like , you don't even have to pay a kobo now as the Fed govt has told them to go ahead and open accounts for us. The charges will be taken from your first tranche.

Also if your documents are not complete you can still open pls and your tranche comes in, only thing is you wont be able to withdraw until you provide complete documentation. so dnt let either money or imcomplete docs deter you from going to open your accounts. highest they will do by statutory obligation is to place your account on a NO-DEBIT status pending when your documents are complete even if it is reference.

WHEN YOU GET YOURS IGNORE IT BECAUSE IT IS A GIMMICK

ITL:
its just a marketing gimmick, they just got email of some winners and decided to market them.

You are allowed to open an account with any bank and the requirements for KYC are almost same.

Nothing special !!!

Personally, I wont go for Skye bank for my biz. ( Got my account with a biz focus bank already)!!!

Dear xxxxxxxxxxx,

We write to congratulate you on the success of your business proposition under the Federal Government Youth Enterprise With Innovation In Nigeria Programme (YouWin).

As part of the process for getting access to the funds, you are required to open your business account with us. Our officers at the Skye Bank YouWin! Project desk at our ASABA Branch will be on hand to guide you through the process.

Please find below the documents to complete the process:

Basic requirements


1. Copy of a valid identification (National Identity/International Passport/Driver’s License-Please come with original for sighting)

2. Copy of most recent utility bill e.g. electricity, water, telephone,

3. Tax Identification Number (TIN)

4. 2 recent passport size photographs

5. A Photocopy of the Front and Last Page Of The YouWin! legal Agreement.

6. 2 suitable references

Additional Requirements for Specific Accounts

Limited Liability Company



1. Photocopy of Certificate of Incorporation of your company.

2. Certified True Copy of Certificate of memorandum and Articles of Association.

3. Certified True Copy of form CO7 (Particulars of Directors) and CO2 (Allotment of Shares). You must have at least 51% and above stake in the business.

4. Board Resolution authorizing the opening of the account with the nominated signatories. This must be duly signed by Two (2) Directors and should be on the letterhead of the company executed under Company seal

Registered Business Name/Sole Proprietorship/Partnerships

1. Certified True Copy of Application Form For Registration Of Business.

2. Certified True Copy of Certificate of Registration of a Business Name.

3. [For partnerships] a partnership deed duly notarized by a commissioner of Oath.

Please note, if you deal or engage in Jewelry, Cars and luxury goods; Precious and metal stones; Auditing; Tax consultancy; Clearing settlement; Legal Practitioners, Notaries, other independent legal practitioners and Chartered accountants; Trust and company service providers (who provide services to third parties); Hotels; Casinos; Supermarkets; Real estate agents; Non-governmental organization(NGOs); and charitable organizations are required to also bring evidence of registration with the Special Control Unit on Money Laundering (SCUML) of the Federal Ministry of Trades & Investments.



KINDLY COME ALONG WITH THE ORIGINAL AND PHOTOCOPIES OF YOUR REQUIRED DOCUMENTS FOR SIGHTING.



We look forward to receiving you at our office:



Skye Bank Plc

228, NNEBISI ROAD,ASABA

Delta.








Kind Regards

aofete:
Anybody got mail from their bank just got mine Skye bank, Asaba Branch

Anybody got mail from their bank just got mine Skye bank, Asaba Branch

Denn:
When did your sister get the first tranche?

Was it immediately after validation and account opening?

All went well done my validation and agreement signing. My opinion for new business all you had at the interview will see you through.

Denn:
hello team South-South

how is the validation going?

what is on offer?

Please advise

thanks

I am having mine on monday and sure would drop any valuable hint after am done.

Denn:
Good morning team

Please is anyone having his/her validation on Monday?

South-south.....

Please assist us with a situation report on whether second director would be made compulsory.

Na beg I dey beg.....

If you checked and saw 18 names there would be no need for any remaining few because there is no further list to be release, so I conclude you are lying.

favoryourl: thank God for you guys that made it thru the final stage.
So far I have seen 18 Names remaining just few.
for those who did not make it, don't let your dreams die here, take it to the next level and God will help u.
Remain blessed

Give us the name of the 18 persons that you help to win youwin3. I don't believe you at all selling global alliance products can't make you a millionaire, that you claim to be. sorry Come to abuja I will show you myself.
No body insulted you, you were only full of yourself. You think you know it all but let me tell you in two years time I plan to hit 100m turnover. FYI am in broadcasting so that you know that it is possible and when you start hearing about a youwin3 awardee that is making waves you will know its me bye.

Hello Mr BE point with my knowledge of BE, I was selected so F .. up.

Please the website

blink182: After being rejected at the very first elimination, I still proceeded with my proposal seeking funding from friends and family. With testing completed, my escrow website has gone live and the turn out even before I start advertising online has been impressive.

We are pioneering this service for Nigerians and we have done our best to ensure the learning curve isn't too steep while maintaining high security and verification levels.

It doesn't matter what happens, your determination and perseverance will always get you to your destination.

Whats going on no feedback on this forum.

it is part of the selection process, what I will suggest to you, go for a sworn affidavit of loss of certificate

dinmauk2: Hello house, congratulations to all of us. I have a quick question-was the presentation of waec certificate wholly enforced? I lost mine a while ago. Please, let me know without being sarcastic or snarky...I'm nervous and terrified enough already. I have my degree and other certificates, just not WAEC...thank you

Check the youwin site you will know that you are illegal and you should be arrested for being an agent

favoryourl: I can see u still have same problem,
let me take it one at a time.
u break even at the point when u have covered ur total cost.
now your your total cost include your fixed and running cost
what you don't knw is that ur total cost is the money u need to start ur business.
ur views about BE are myopic because u only knw breakeven as when revenue is equal to total cost.
NOTE;
you can only break even when you have recovered the money you started the business with. anything short of this, you have not.
added to it am beginning to believe you failed in youwin 1 and you are trying to meet up.
pls don't confuse the forum members and let me tell u this for free
23 persons I wrote this youwin 3 are awaiting youwin panel. so you can see it was not a fluke.

I believe you are full of yourself, for you to use that language it shows. What is this forum about? I believe for people to express their opinion and opinion are open to criticism. If you made a statement and I feel that it is not correct I have all the rights in this world to say my views, for you to insult me is very low of you and I DEMAND AN APOLOGY FROM YOU WHICH MUST BE POSTED ON THIS FORUM.
Let me post here what you said and I quote ‘’ remember that your break even point is that point when your revenue is equal to the money u needed to start your business’’ AND I SAID, I quote “ wrong that breakeven is when total cost equals total revenue” not the money you needed to start your business. When you are wrong you are wrong don’t start insulting the sensitivity of people. YOU MUST APOLOGIZE.

FOR YOUR INFORMATION TOTAL COST IS NOT EQUAL TO WHAT YOU NEED TO START A BUSINESS.
Just saw now that you belong to Youwin 1, no wonder let me tell you if the standard of Youwin 1 is used for Youwin 3, all 6000 first stage winners will qualify for Youwin 3. So don't think because you are a winner in Youwin 1 you know all.

favoryourl: I understand that u have problem of language. pple like u always out to criticize without contributing.
now use ur common sense
total cost is the amount needed to cover both fixed cost and running cost abi
then when your revenue equals what u needed that is the BE
pls next time don't just comment be sure of what u want to say.
always remember to be constructive in ur criticism

Wrong, Breakeven is when total cost equals total revenue[quote author=favoryourl][/quote]

Please let me know how 1,100,000 came about in this computation

Adulphus: YOU HAVE TO KNOW YOUR FINANCIALS, KNOW YOUR COMPETITORS, YOUR MARKET AND MARKET STRATEGY. YOU MUST BE ABLE TO SPEAK GOOD ENGLISH AND BE ABLE TO CONVINCE THEM. THERE ARE 52 PANELIST DIVIDED BY 13 PANELS = 4, SO YOU WILL BE FACED TO DEFEND YOUR PLAN IN THE PRESENCE OF 4 PANELIST. FOR THOSE GOING TO ENUGU, PANEL 11 IS VERY FAIR AND THERE ARE GOOD PEOPLE.

BELOW WAS HOW I BROKE MY FINANCIAL ANALYSIS:
Hi. How much money do you need to implement your business? ii. How will you fund the business? iii. What will the funds be used for? iv. How and/or when will the business make profit? [100 words] Please show a summary of the breakeven analysis.
i. Total Capital = N11,000,000
ii. YouWIN Grant and Family
iii. Capital Cost = 4,400,000 including: The Cost of Machineries = 3,400,000naira
The Cost of Office Equipment and furniture= 300,000 naira
The Cost of Vehicle = 700,000naira

Operating Expenses = 3,300,000
Indirect Cost = 1,820,000
Miscellaneous = 1,480,000
iv. My Business will make profit after month 11 of the Grant Award.

Breakeven Analysis: [NB: 1 unit of my product is sold at 2,700 naira]
BEP in Units = Fixed Cost/Contribution
Fixed Cost = Capital Cost + Indirect Cost + Depreciation
Depreciation = Capital Cost/10years = 4,400,000/10 = 440,000
Fixed Cost = 4,400,000 +1,820,000 + 440,000 = 6,660,000
Contribution = Sales Price – Variable Cost = 2,700 – 1,200 = 1,500
Therefore, my Breakeven Point in Units = 6,660,000/1,500 = 4,440Units
BEP in Naira = 4,440 x 2,700 = 11,988,000
11,988,000/1,100,000 = 10.9 = 11months

ONCE AGAIN KNOW YOUR FINANCIALS BECAUSE THEY WILL ASK YOU HOW YOU WILL SPEND THE MONEY (FINANCIAL PRUDENCY)
GOOOOD LUCK

In calculation, you don't just introduce a variable without an origin. 407 is not the monthly production from my calculation, somebody should look at it and say something

chukwuka12: @Aofete, from his analysis, although he didn't state it, he produces about 407 units per month, he sells at 2700, therefore 2700*407=1,100,000

I would have just done 4440/407= 11 months.

(My thinking please)

Please show how you got 407 units per month in calculation

11,988,000/1,100,000 = 10.9 = 11months
On this line where did 1,100,000 comes from please share light on it