₦airaland Forum

Business ideas without capital can be very disheartening.

But there is solution.

Thanks OP.

The easiest way to write a business plan is to use an already written template.

See OVER 60 BUSINESS PLAN TEMPLATES THAT YOU CAN USE TO WRITE YOUR BUSINESS PLAN.

Hmmmm.

It is very great to have a supportive spouse.

God bless their hustle.

Nice tips you've got there. Thanks OP.

Also see 20 MONEY HABITS THAT KEEP PEOPLE POOR AND HOW YOU CAN AVOID THEM.

Happy sunday all.

Good question

I must commend you for even saving up that amount of money in this hard times.

Now sit down and and ask yourself the following questions:

1. What businesses do I love naturally? It's good to do what you love, because it won't be stressful to you. You will have fun while making money.

2. What skills or experience do I have? Doing a business that you have a previous experience will be easier, but don't limit yourself to them.

3. What businesses move better or have good market demand in the area I want to establish bthe business?

4. Will 300k be able to set up the business am looking into? You may need to start small with what you have while seeking for extra funds for possible expansion.

These and many other questions will help to reach a good decision ALL BY YOURSELF.

See 12 TOP BUSINESS ADVICE FOR ASPIRING ENTREPRENEURS.

Also see OVER 40 LUCRATIVE BUSINESSES YOU CAN START IN NIGERIA WITH AS LITTLE AS 100K.

It all depends on your goals and plans.

However, have it at the back of your mind that, money dnt grow on trees abroads. You have to hustle and work hard for every penny you earn. Also, in many cases you may need to start afresh with lowest paying jobs, because your previous work experience in Nigeria won't be regarded.

You can succeed in Nigeria and go abroads for vacation from time to time.

But if you have good plans of perhaps furthering your education abroads, you are ready to start life afresh and have another taste of life, then you can relocate. However, select a good country. Some countries will just make life more miserable for you.

See 17 INVALUABLE PRINCIPLES OF WEALTH CREATION AND CAREER SUCCESSS.

SokoDobo:
nice one op

Thanks.

I feel very bad when I see many people especially our youth who can not achieve their great business ideas ( that can create more jobs for our people and better our economy ) just because they don't have the start-up funds/capital.

Wow.

It's not all about money, there are other things you need to consider when taking up a job.

It's better to take a job that pays lower and give you the time and freedom to do other side hustles that would give you more happiness and extra funds, than a job that pays higher but keeps you in bondage and takes all your time.

See OVER 50 SIDE HUSTLES YOU CAN DO WHILE KEEPINY YOUR DAY JOB.

Hmmmm. I weep for my dear country.

The earlier you started looking for ways to help yourself instead of depending on the government, by getting into a business of your own , the better for you.

Meanwhile, see 35 MOST PROFITABLE BUSINESSES YOU CAN START IN NIGERIA WITH HIGH DEMAND.

Great business ideas you've got there OP. Thanks.

Ideas rule the world.

See OVER 60 LUCRATIVE BUSINESSES YOU CAN DO IN NIGERIA WITH AS LITTLE AS 100K.

Hmmmm.

We can now sleep well.
There is nothing as bad as struggling to make money and then panicking about the safety of your hard earned money. Thank God the CBN and NDIC have got our backs.

Meanwhile, it is not wise to have your money sitting down in a savings account, doing nothing, when you can invest that money and make more money from treasury bills, government bonds or even mutual funds.

See HOW TO MAKE MORE MONEY BY INVESTING IN TREASURY BILLS IN NIGERIA.

This is good news then.

At least investors and depositors can have a sigh of relief.

See 17 INVALUABLE PRINCIPLES OF WEALTH CREATION AND CAREER SUCCESSS.

What if you have a great business idea, but you don't have the funds needed to make the idea a reality? This can be very depressing. This is the situation where many young entrepreneurs find themselves today.

However, there is a solution to this problem and I will be sharing with you the solution in this article. There are a number of things you can do if you've got a business idea and you don't have the capital yet :

1. Look for someone who has the capital you need and partner with the person. However, ensure that the person has a good attitude and love the business idea. Also, you both should decide , agree on and document the terms of partnership to avoid having issues later in the future.


2. Look for a job in the meantime, work and save some money for your dream business. This can take months or even years, but it's a process and a sacrifice you can undergo to achieve your dream business goals.

3. Approach family and friends for a soft loan to start the business. Most friends and family members will be willing to give you sponsor your business instead of giving you money to buy groceries.

4. Apply for a grant or a business loan from a Micro Finance bank. You may need a good business plan to be able to ask for the loan from a bank. In Nigeria, LAPO micro finance bank is popular for giving low interest loans to small and medium scale enterprises.

5. Use upfront payment from potential buyers. That's in a situation that the business idea is to sell some products. You can look for potential buyers and ask them to pay upfront for the products. Then, with the money they pay you, you can then buy the goods to supply them.

6. You can look for venture capitalists who might be interested in your business ideas and willing to sponsor it. Venture Capitalists are usually investment companies that are on the look-out for promising small businesses or business ideas whose owners doesn’t have as much money required to fund the business and make it big. 

7. You can look for Angel investors who might be interested in your business ideas.They may sponsor your idea, if they buy the idea. Angel investors are people who have the money and are interested in your business idea or small business and willing to invest their money into your business with a view to getting a percentage of the interest or return from the business or equity.


8.You can join a corporative society. This is basically a group where members take turns to finance each other's projects, by pooling resources together to support the member. I bought my first real estate property from money given to me by a cooperative society I belonged to at that time.

9.You can sell your property to raise funds. Some great entrepreneurs you know today, at some point had to sell a property to support their business idea. At the early stage of Apple Computers, Steve Jobs had to sell his Volkswagen car for $1500 to support the business. However, today Apple is the world's most valuable company.


10. Write a business proposal and send the proposal to firms and companies that would need your services or might be willing to buy your products. When you've secured the contract and the company has issued you a purchase order, P.O. Then you can use the purchase order to seek for a purchase order financing from lenders, investors or even the bank. Most people or organisations will be very willing to support or finance a contract that you secured when they see that you have a purchase order in hand.

Conclusion

From my years of experience in the world of business consulting and entrepreneurship, I know that it is very possible to get money to finance a good business idea. Granted, it might not be easy initially, but it is achievable if you can work at it and apply some of the ideas I have laid out above for you.

See source for more.

Great points! Very informative and useful. Thanks OP.

Also see 7 INDISPENSABLE TIPS THAT WILL HELP YOU START AND SUCCEED IN ANY BUSINESS.

Wow. Great!

This is just one example of how successful people can become from maximising the inexhaustible opportunities in online money making. Mark Zuckerberg, Sagay Brin, Larry Page, Jack Ma, Bill Gates all did it and so can you.

See 20 VERIFIED AND LEGAL WAYS YOU CAN START MAKING MONEY ONLINE IN NIGERIA BY SPENDING ALMOST NOTHING.