I have a question for nairalanders.

How can a Nigerian business startup who doesn't have financially strong friends and family to turn to, raise fund for a business idea?

I have been struggling to raise some money to invest in a business idea without any success yet.

Thank you for your honest and helpful answers.

PS;

No substantial savings and no collaterals.

Damnnn niggarrrr
Isoright

Do some real dope shit son....

Then immediately you hit it .....then quit...and start up the business...

Watch that Indian movie...titled "white tiger"

do any odd job to raise money

Is quite hard to get one unless you well connected or from rich family members,

My advice work your ass off, save enough and start your business

If you are trust worthy you can use OPM to start your business.... Currently I'm using other people money to trade cryptocurrency distribute there profit by the month....

Forget Nigeria Banks O!! Once requested for a loan of N10 million to upgrade my business to stage 2, only for the loan officer to request for collateral worth N100 million
Look for investors online, but sign agreement 1st before discussing your ideas with anyone.

D

That question needs answer.. facing same problem here...been outta school since 2018,no job in sight no capital to start business...man no won do Yahoo

piggy bank can help.

It wouldn't be easy, get a job and save for some years, nobody will give u any money

Yes

Op, you can crowdfund. issue shares / units/ token to the public for a stake in the project / company.
you can raise any amount in the world, if you can sell yourself or company to the world.... There's lot of money in the world. the only issue is redistribution.
Convince the world you deserve some of their money to start your business or project... Go boy, you can.

E go be

Take a loan
But it's risky

ask aboki wey dey change dollars

interesting

Family and friends


That was how I started mine way back in 2016

Through family ND friends or selling of valuables.. But don't take a loan

Okay

LivingADream:
I have a question for nairalanders.

How can a Nigerian business startup who doesn't have financially strong friends and family to turn to, raise fund for a business idea?

I have been struggling to raise some money to invest in a business idea without any success yet.

Thank you for your honest and helpful answers.

PS;

No substantial savings and no collaterals.

It's going to be hard
But if you were able to solve a major problem relating to Agriculture, Tech, Fintech, you might get funded quickly
Also, try to make research online for any platform online that connect entrepreneurs like LEAP Africa. Also, be on the lookout for Tony Elumelu Foundation TEEF yearly program.

D

I'm also looking for the same opportunity.

Bank

Ask Naira Marley.

Prepare a financial model and business plan.

Prepare a Project/Business teaser.

Use internet the to search angel investors, Or wealthy people you know can invest or ministries/agencies related to your startup niche i.e. if your startup is I.T, based you search for funding at Minister of Communications and Digital Economy in Nigeria.

Send them your business/project teasers. If your business idea is good, the will invite you to pitch.

When pitching, use your financial model to show them how they will recoup there money back if they invest in your startup and expected yoy growth of your business, as well as how Nigerian masses will benefit from your idea.

If it's worth it it, the will invest in you.

Pleas mail me and let me understand your start up! If is already in development, I can discuss further with you.

The easiest way my guy (is you) first what can you offer and to whom are you offering it.

Let me ask what high income skill do you have right now?

Family and friends.
Dont expect me a stranger raise funds for you.
Na naija we dey and bubu is in town.