₦airaland Forum

bizhub:
Some people are yet to conclude their account opening ...Nawao....even if they don't need the grant, they should just open it for the sake of others that needs the first tranche this yr

I was about asking if all awardees here have successfully opened their accounts.. Its not actually funny. Well by God's we should expect alert next week....

bamistol:
I don't understand Stanbic IBTC again! When I went to their office last week they said that the only thing remaining for my account is for their lawyer to get the result of the legal search they submitted to CAC. Now I called today just to be sure, they customer care said that there are some documents that are lacking in my account so that the account is "restricted". Whereas, after opening my account I made a payment and into the account and I received both sms and email alert.

Please those with adequate knowledge of banking can pls advise me. Though I will go to the bank tomorrow to hear this their new story.

Did u give them your thing number during account opening? If no, go with it while going there. Just follow up with them today tomoro...it will be don. But confirm what d incomplete documents are... If u not OK with it, speak to d branch manager or call customers care..

naija2dabone:
House, is it a mandatory requirement for someone to resign from his job after getting the grant?

Wisdom is profitable to direct...
My little advice is Don't resign yet until your business needs your full attention, and u can no longer cope with your current job ... ( all things being equal that should be any time from when u get the second trench)...

However note that you win does not know u are working, they believe that they are empowering unemployed to employ....

Don't be in a haste to resign....

papiforreal:
thank you sir. Do they select winners according to their region or state, want less competitive state as the state of my origin.

Denn has answered u, select your current state, select agood business u are passionate about, do a good proposal, and pray..... That's all....

Dear awardee

The YouWiN! Secretariat is pleased to introduce to you the Nigerian Agricultural Insurance- NAIC. NAIC was established in 1987 as a wholly-owned Federal Government of Nigeria insurance company set up specifically to provide Agricultural risks insurance cover to Nigerian farmers. NAIC became a Corporation in 1993 providing cover for both agricultural risk and General insurance (except life insurance) and has branches in all 36 states of the Federation including FCT Abuja as its corporate Headquarters.

The Corporation currently undertakes the following;
1.      Agricultural Insurance
(a).    Crops (Food crops – Rice, maize, cassava, vegetables etc) at a statutory  rate of 2% of ECP.
(b).    Cash crops (plantain, cocoa, oil palm etc) at negotiable rate
(c).    Livestock (poultry, fishery, Ruminants, piggery etc) at a statutory rate of 2.5% of ECP.
        (d).    Domestic Animals (Dogs, Horses, Cats etc) at negotiable rate.

2.      General insurance  (motor, machinery, goods-in-transit, Goods-In-Stock, Warehouse, Marine, Bonds, Fidelity Guarantee, Professional indemnity, Burglary, Plant All Risks, fire & Allied risks) at a very competitive premium rate.

Please see below additional information about NAIC (http://www.naic.gov.ng)
You are encouraged to make every effort to secure your investment...

Just got this now.

papiforreal:
i am applying for youwin4 edition, i need some guide and useful tips please. I've already sent you a mail sir.

Ok, you can also check this link to follow your colleagues on youwin 4
https://www.nairaland.com/1997905/youwin-4th-edition-here

Regards

Denn:
Hello team

Happy new week.

Let's expect good news this week hopefully.

Warmest regards

Wishing u same, if we get news dis week that will be nice...
However next week more realistic given d fact that Friday dis week was given as the deadline for account opening things....

No wahala, will keep in touch....

blink182:
Happy birthday babes, this is your year.

I posted something on the other thread, did you see it??

ciscaos:
FELLOW YOUWIN AWARDEES, GOD HAS BEEN FAITHFUL TO ME, HE HAS BLESSED ME BEYOND MEASURES!!!!!! PLS JOIN ME IN PRAYERS TODAY AS I CELEBRATE MY BIRTHDAY. I AM MOST BLESSED TODAY!!!!!!!!!!!

Happy Birthday.... D sky your stepping stone...
Wishing us all a lovely week ahead..

bizay7:
If you know anyone applying for the 2015 edition of the YouWIN competition in Ibadan and he or she is having problems answering the questions for the business concept, please refer the person to - http://woculus.com/do-you-want-more-help-in-applying-for-youwin-grant/.

A lot of people find it difficult to correctly answer those YouWIN questions while some people only want external input. That's what this workshop is for.

It seems you have not been following this thread, and this is not the 1st time you pasting this...
We are already winners, if u need help let us know...

strigger:
Word of mouth can do alot. Kaduna state have a near comprehensive list taken by a friend during legal signing time and we all have friends from the geographical zone we met during legal.signing and validation era that we can inform about it. I believe its acheivable.

Are u in Kaduna

strigger:
You're really 'funny'. I think you need our help and not directing us on how to get help. We made it all on our own as you can see from the quality of our contributions here. Dont you think you and your clique need to win for yourselves first before looking for people to 'help'.
Go look elsewhere for clients.

Ha ha ha... I was so sure u were going to comment on that post...

bamistol:
I checked my bank today as suggested. That is Stanbic IBTC, to confirm the status of my account and I was dumbfounded when my account officer told me that they have submitted the the legal search to CAC ever since and CAC has NOT responded.

What do my fellow awardee suggest we do at this juncture. Because they said that the YouWiN accounts have been opened but the problem is with CAC that are working at snail speed.

God will deliver us from this "Nigerian factor" where government work is done any how

Need advice on the next line of action

They don't submit anything, don't mind them, its the bank's lawyers that follow up with the search, the lawyers have either not gone to confirm the search or the account officer havent informed the lawyers to do d search..
The good news is that your account is opened, but u can't get ur cheque book until the search is confirmed...

Did u register your business in the same state you are opening the account?? If yes all I have said above is true. But if you opened it in a different state then it takes more time for the search to come.
My advice is to go there every day until it is done, or call their customer service line expressing your displeasure... Tell them how long you started the process of opening an acount and up till now they are telling u that the search is not ready..

Yes its important, the last part there is about selling your self, tell them your passion,vision and what you hope to achieve with the Youwin grant...

kaysy:
Considering the above quote, Please i wana know if YouWin selects a bank for u to open an account or u just open at any bank of your choice, am a YouWin4 applicant and i already have a corporate account with my proposed business name at Zenith Bank, dnt think i would wana use any other bank cos i will love to concentrate on 1 account. Thank u

@Chukwuka12, please can u help with an answer?

Denn has answered you well..
Corporate account is not the problem, one bridge at a time, pray u scale through and move on.
However get ready to open an account where ever youwin says you should, and trust me, it will not be as difficult as u think.....

Cheers

K

eazeefix:
Hello all I just want to confirm if your banks charged you for legal search. UBA is charging and also we would be charged cot. Is that your experience too?

We all may be charged for the legal search sooner or later... Cuz its a requirement that can not be waived... It is to confirm that your business name exists... So it will surely be charged... May be after the 1st trench...

However, Youwin accounts are not to Be CHARGED COT... Pls take it up with them... It should be a zero cot account...(tut that's what I heard, my thinking....)

bamistol:
Thank God for answered prayer!
Thanks.

We thank God indeed....
God is faithful... If we for pray and fast earlier I believe something for happen..

We thank God all the same... God is a prayer answering God...
Appreciate all who took out time to pray and fast....


It us well

strigger:
'Commence processing of tranche 1 funds' .......
Pls can anybody with finance knowledge interprete the above clause?

Its as simple as you see it... U can also change processing to Disbursement.....Lol
I think that's what it means.... Its already processed they need account numbers to disburse....
My own thinking

Our prayers have started working...

I didn't get the mail, but its obvious they have started working on it....

hmbs:
Yes.i got the mail with account balances but was there on Monday to pick my cheque book but the bank didn't give me with the reason that my reference are still pending.

Just in case the reference delays, its always faster with references from the same bank, if u already have an account officer you can beg him to get u reference, if he refuses, then you have look for customers of the same bank, to referee u.... The truth is that references from other banks can take a month or more, some don't even respond... Speaking from experience....
So u can start working on plan B, just in case... I don't even know why access needs refs, oda banks didn't ask 4 it.
But I know it is well... Cheers bro

May God accept our fasting and answer our prayers...AMEN!!!!

[quote author=blink182t=28553278]formula and detailed explanation of your calculations with more details/quote]

From his calculation, if u add up d factory cost, operating cost, interest and deprecuation, u will have the Production cost whicbvia 5,349,500 (calculation of all cost excluding fixed cost).....

Going forward, he also gave the fixed cost as 2,659,500
And selling price to be #20.
And he has an aim of producing 500,000 units...
That's all the information given...

I will take his Average variable cost(per unit cost) to be his production cost divide by number of units...ie 5,349,500/500,000=10.7 let's say #11

Break even = fixed cost divide by contribution
Contribution= selling price minus average cost
Contribution= 20-11=9
Break even = 2,659,500÷9= 295,500
The break even is 295,500 units
295,500*20= #5,910,000

That is from his analysis, but not sure of his cost because his cost should be about 13 or 14 naira, 11 naira not looking feasible to me... If the cost is 13 to 14 naira then break even analysis will be about 400,000 units as he mentioned.

But the main thing is to have the idea...

@Ibrahym.... Nice one, very encouraging...
What ever facts are true or not, the main point is that we should not loose hope...

As we pray and fast also remember to ask God 4 d wisdom to effectively and efficiently use the grant to achieve vision...

hmbs:
OK.with what is on ground now,we are planless.some of us have started making financial commitment thinking we will be disbursed this month but an ancestor has spoken from his wealth of experice.Where do we go from here?youwin 3 awardess

Watch and pray... That's all.
Delay ain't denial...
We are already winners.. So even if the 1st trench is in march we will still be greatful and use it well..

However I pray we get it this month... I was hoping this week, but let's pray it comes in this month...

With all this delay in the 1st trench it means that we are in for a crazy ride... It has really spoilt all initial plans that we have made...

They said soon, and we are hopeful...

I was thinking that the 75 page will be fr those that got alert... 4 now we De like Dele and looking like lucozed...

It is well

jeffmyson:
@chukwuka12, there are people who start poultry with 2M total Capital.

If someone get 2M as first tranche it is more than enough for him to start a farm that can roll in some cashflow while he waits for second tranche to expand the business.

The person can start for instance with Broilers that have a maturity period of 8 weeks Max and learn some valuable lessons from the experience and when second tranche come he can expand the business and incorporate layers!

The first tranche should be for you to test the waters and improve your business and management skills before the second one comes.

All man to himself anyway! Lack of Money is not the cause of business failures in 70% of the cases but poor management and lack of skills/ experience.

To be honest 2m enof to comfortably start a poultry farm.... However I think I will have to talk with my mentor... Cruz I have been thinking it to, but wanted to develop my own place... Since the mentor will be d one approving the trenches.... I suggest we all carry them along in what ever plans we have B4 starting.....

Cheers

Terry1:
Hello all, I am a YouWIN 3 awardee. I've been following this thread for a while now. I want to start by commending your maturity. You guys are great!

my question is directed @jeffmyson, Denn, stagger.
I want to go into plantain flour processing, I applied for 7M and but YouWIN slashed it to 5M. My tranche 1 is now going to be 1M.

Here is what i have in mind, to use the 1M and rent a space, put a few offices together, do all registrations and licensing needed and then wait for tranche 2 which I can now use to purchase the machineries and start production.

But now that I just learnt tranche 2 might take up to 7months, my plan doesn't look wise again.

Plantain flour processing involves machineries. How am I suppose to start a plantain flour plant with 1M and start generating cash flow b4 tranche 2?

Thanks so much.

That's a nice question... As we await answers remember u have a plan(ur proposal) u ought to follow tru what you said u will do....
And pls don't get me wrong, I know all u guys are saying makes a lot of sense given d fact of delays in trenches..

However the question is.. Will d 1st trench be enof to run your business until d 6th or 7 month when d second trench will come in U can't start something you can'tfinish.....

Still my thinking though....

With all due respect... Its easier said Dan done
U are into poultry, u have but a piece.... U are given 2m to start with.... How can u begin to make money with it..
That 2m can be enof set up all needed....
Then u wit 4 d next trench to begin..
I personally tink its your mile stone that will determine your trenches. If u use d 1st well, it won't take time to get d next trench...
That my thinking oh....

kaysy:
Done.... Thanks so much to everyone who contributed meaningfully towards helping us to achieve our dream, God will contribute meaningfully to ur dreams... Today is 1st of December 2014... The day i have set aside to submit my YouWin Business Proposal. Thanks again. KAYSY

Woah!!!! Kaysy that was really nice of u not to submit in a hurry....
Best time to submit....
Now u a perfectly good to go, next is God's favour.... Cheers

sunylee1:
Lets calm the tension. Next week, we will get the alert. "From very relaible source"

We are hopeful. But let's keep an open mind...
Also 4 those of us working... Pls don't resign yet until your business needs your full attention. ... Next week will really be great..
I had borrow to secure a land I didn't want to loose....

God De, not only you, am always checking my phone 4 alert or checking this chat if someone has been paid ..... Its just 4 a while. We are almost there

strigger:
Thank God its weekend cos i wont be mistaking all these continous sms from network providers as alert from my youwin biz account. LOL!!!! High blood pressure no go kill man oh!
Plus this impeachment talk springing up here and there.
God pass them.