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Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 7:05pm On Apr 26, 2021 |
winnah:My business was existing before the loan and i was planning to expand, they classified my business has high risk. Profit was bellow N5 million and the collateral should be worth N100 million. This was 2008 and maybe due to my age than. Does BOI support bars 1 Like |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by blahc007: 7:05pm On Apr 26, 2021 |
Brunosamel:Bros explain to me how this OPM works..., |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by clericuzzio(m): 7:05pm On Apr 26, 2021 |
LivingADream: Search for Mazi Udoka Ozurumba on Facebook |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Brunosamel(m): 7:24pm On Apr 26, 2021 |
jclassiq:I'm already honest with OPM, I don't hide any gain neither loss, when cryptocurrency went down last week I told them what went wrong and assure them I will bounce back... As long as I have expert backup I don't have anything to loose... Life is all about risk 1 Like |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Brunosamel(m): 7:29pm On Apr 26, 2021 |
blahc007:OPM simply means other people's money... Using other people's money to trade cryptocurrency, stocks or fx and distribute the profit accordingly... You must be trustworthy and very good with what you are doing for you to use other people's money... Using your skill to profit without using you own resources that primary objective... The major problem is can people trust you with there money, will you deliver you promises.... |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by slydog(m): 7:33pm On Apr 26, 2021 |
emmanok24: Visit any branch of that bank that starts with P and tell them what you want. Just go there with your last six months statement of account, it can be from any bank statement and if your turnover is so impressive, you'll get a working capital facility within 10 working days. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by efembaba(m): 7:33pm On Apr 26, 2021 |
Bloomeverywhere:Who is "the world" where are they living abeg? |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by kufzy: 7:40pm On Apr 26, 2021 |
How? merits: |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by slydog(m): 7:40pm On Apr 26, 2021 |
tutudesz: This sounds funny. In finance, collateral is what we call Second way out (SWO). The aim of lending is not to sell your collateral, but rather to ensure you can do your business and pay back the loan without going under. Thus, the First Way Out (FWO) in every lending, is via operational cash flow. Thus, even if you have collateral worth N1B and you're looking for a loan of N100m but don't have very good cash flow prospects, no serious lender will listen to you. Because, even putting up your property for sale also involves costs and expenses plus legal cases which you the borrower will institute at the expense of the bank. This is why banks now place emphasis on cash flow/statement of account turnover which represents capacity to pay off the loan with interest and still survive. No, banks don't finance start ups, this is where the govt and angel investors come in. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 8:14pm On Apr 26, 2021 |
slydog:My business was not a start up, it was already existing for 1.5 years |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by colestephan86: 8:14pm On Apr 26, 2021 |
LivingADream:The simple way for someone like you is to raise it all by yourself cos nobody's interested in a startup business. So get all small side hustle that can help you raise the funds. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by justmondris: 8:17pm On Apr 26, 2021 |
It does not work that way bro. People especially in Africa invest in a product that already has users or customers and not in an idea. Save some money, build your product and build your customer base then investors will check the numbers of your business and use it to decide if they should invest in it or not. If I don’t know how many users/customers you currently have and how much profit you are making monthly, how will I calculate how many number of months/years It will take before I start to get return on invest when I invest X amount of money in your business? Do you want me to just blindly invest X amount of money in your business when you do not have the required numbers I need to decide if it’s a good business opportunity or not? Lastly, never take the illegal route just to raise money to start your business because you will end up abandoning the idea even if you had made enough money to start it and finally end up in jail if you are lucky enough. Be wise and never give up 1 Like |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by slydog(m): 8:25pm On Apr 26, 2021 |
tutudesz: What was/is your one year turnover? Are into fmcg? Or what do you do? |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Nobody: 8:25pm On Apr 26, 2021 |
timsucess: Via Venture Capital firms. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 8:29pm On Apr 26, 2021 |
slydog:Bar, profit was bellow N5M |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by slydog(m): 8:34pm On Apr 26, 2021 |
tutudesz: I won't also lend to a bar, I had a customer come for lending too, I wasn't interested. However, there's a way it can be presented, a high class bar, where you have responsible gentle men visiting, where you won't have a run on your fund via fights, police raid and the like. There's a lady who run a club where rather than beer, you have wines going up to N50k per bottle, plus cat fish joint, plus steady security, GRA, we even got to put two ATM machines there, Location, location, location. cliche clients etc, strong fundamentals, every week she does over 7-9m. Yes, she got working capital. Already existing business too. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 8:39pm On Apr 26, 2021 |
slydog:I think the location and Security challenge played a role in my case, Delta state had militant/cultists issue them and most bar were closing before 7-8. I went into the business with Lagos mentality 1 Like |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Jonwesley(m): 8:39pm On Apr 26, 2021 |
Emerging technology sectors such as Fintech, Agritech, and Digital Health are solving some of Africa’s most pressing problems and contributing significantly to the continent’s economy. In fact, the Internet economy is set to reach 5.2% of gross domestic product by 2025, contributing about $180 billion to the African economy. €650,000 Africa Startup Initiative The Africa Startup Initiative Program is looking for the next generation of African startups with a mobile technology focus disrupting the FinTech, AgriTech, Internet of Things, and Digital Health industry sectors. Sign Up Now for Startup Funding Emails The 10 startups in the program will receive EUR 15,000 in cash and in-kind benefits valued at more than EUR 500,000, including credits from AWS, Google Cloud Services, Hubspot and many more. The three-month Program will conclude with a digital Demo Day during which startups will present their newly scaled up solutions to hundreds of investors, corporates, mentors and press attendees. Apply Now! Deadline is May 14, 2021 More Startup Funding Opportunities Please RSVP Now to learn how you can access funding from USAID, CDC, the Gates Foundation, and other formal program donors, at the Global Digital Development Forum on May 5. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Jonwesley(m): 8:41pm On Apr 26, 2021 |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by waze63(m): 8:45pm On Apr 26, 2021 |
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Re: How Can A Nigerian Business Startup Raise An Initial Capital? by waze63(m): 8:58pm On Apr 26, 2021 |
Jh0wsef:Send me a whatsapp message 09075038283 |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by ooohoo: 9:00pm On Apr 26, 2021 |
LivingADream If your idea is a tech product, and you have the technical expertise to build an initial product (MVP), it is advisable that you focus on building it; launch it, even if it is to a minimum audience, gain some traction, and when it is time to scale, you may opt for investors cash, at this time, it will be somewhat easy to raise the needed capital. Don't waste your energy thinking of raising capital at this early stage when in the true sense, you may not "need" it. I'd recommend that you read the story of Calendly, maybe it will inspire you. But if you still insist, you can try your luck with YCombinator, 500 Startups, Halcyon and/or Seedstars. Good luck |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by waze63(m): 9:04pm On Apr 26, 2021 |
Lemmy123:Pls I need small insight on this ur crypto investment cos I'm in the same situation Here's my whatsapp number 09075038283 |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by emmanok24(m): 9:34pm On Apr 26, 2021 |
slydog: I’ve got ideas as to the Bank! I’ll definitely work on it and give an update on this platform. Thank you. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tetula123(m): 9:48pm On Apr 26, 2021 |
slawormiir:big man. How far. I been send you mail. You no reply. Abeg reply me. Get small talk we got talk. No worry no be billing boss |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by MIKOLOWISKA: 9:51pm On Apr 26, 2021 |
LivingADream:cooperative |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by wetdspace(m): 10:46pm On Apr 26, 2021 |
My question is it possible to start a tech company in Nigeria when you’re not really that techy? Esp a Fintech company? |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by DaCharis2016: 11:44pm On Apr 26, 2021 |
Akpuobi1:I like your knowledge. |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by AMADU77: 6:22am On Apr 27, 2021 |
tutudesz: Kindly explain : sign agreement 1st before discussing your ideas with anyone Thank u |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by tutudesz: 8:01am On Apr 27, 2021 |
AMADU77:To avoid the person/ company stealing your idea |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by ameh99: 8:30am On Apr 27, 2021 |
slydog: Banks in Nigeria don't give you startup capital bro.. Stop making it look good |
Re: How Can A Nigerian Business Startup Raise An Initial Capital? by Brunicekid(m): 8:37am On Apr 27, 2021 |
DaddyGngeess:Stop discussing the OP... There are finding opportunities there..ske adequate research... An example is Tony Elumelu Foundation... Did you apply for it? |
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