Youwin Business Competition 2013 - Business (58)

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Youwin Business Competition 2013 - Business (58) - Nairaland

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Re: Youwin Business Competition 2013 by Ibrahym(m): 10:15am On Oct 20, 2014

Denn:
^^^^^^ i have a question pls....so i don't turn to a proverbial lamp that shines everywhere but refuses to see its own bottom-

Are limited liability companies required to do the court declaration of shares being above 51%?

Legally i don't think so as there is already an allotment of shares form that shows the shareholding.

However, i don't want to start scampering all over abuja looking for a court.

ideas welcome pls.... pardon my question

Exactly, I was wondering while reading the above posts.
The CAC2 form and Memo of Association already specifies share allotments.

@sunylee1, as you have already completed your CAC registration, is your OWN share allotment above 51%. If yes, then you may not need the partnership deed.

Generally, for some professions/sectors, CAC will not give approval for registration unless one of the Directors is a certified professional in the field!

Re: Youwin Business Competition 2013 by ariduz: 10:20am On Oct 20, 2014

@ denn, same also applies to me, but I don't think it's necessary since CO2 shows it all, but let's see how it goes from the south south, then we can conclude..

Re: Youwin Business Competition 2013 by Denn(m): 11:44am On Oct 20, 2014

hello team South-South

how is the validation going?

what is on offer?

Please advise

thanks

Re: Youwin Business Competition 2013 by Denn(m): 11:54am On Oct 20, 2014

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

hello aofete

how is ngozi and other finance ministry gurus

what are guys on her team saying at the moment?

we await your input

thanks

1 Like

Re: Youwin Business Competition 2013 by manya(m): 1:24pm On Oct 20, 2014

This is what a friend on FB had to share, his name is Tom-Jr Uko

Youwin Validation Update: pls this is what i have to share concerning the validation. 1. Make sure all ur doc are intact i mean complete. Both originals and photocopies. 2. This people can be funny. Kindly come with ur Educational credentials even as is not included in the mail. They will ask u and Abj is not close to ur house. 3. For ease of stress pls, pls i mean pls my people jst come with all the same doc u presented at the interview panel. Alllll except the biz summary. 4. Dnt arrive late u will miss the breifing abt the tranch and monitor. Ask any question now Goodluck!

1 Like

Re: Youwin Business Competition 2013 by Denn(m): 2:04pm On Oct 20, 2014

manya:
This is what a friend on FB had to share, his name is Tom-Jr Uko

Youwin Validation Update: pls this is what i have to share concerning the validation. 1. Make sure all ur doc are intact i mean complete. Both originals and photocopies. 2. This people can be funny. Kindly come with ur Educational credentials even as is not included in the mail. They will ask u and Abj is not close to ur house. 3. For ease of stress pls, pls i mean pls my people jst come with all the same doc u presented at the interview panel. Alllll except the biz summary. 4. Dnt arrive late u will miss the breifing abt the tranch and monitor. Ask any question now Goodluck!

that Tom-Jr Uko guy is really angry.

he applied for 7.5m and got only 1m shocked

some people will get reduced sentences...sorry reduced grants.

he said agric gets 40* as first tranche whilst other businesses get 20%.

will do a screengrab soon

2 Likes

Re: Youwin Business Competition 2013 by Nobody: 2:08pm On Oct 20, 2014

Denn:

that Tom-Jr Uko guy is really angry.

he applied for 7.5m and got only 1m

some people will get reduced sentences...sorry reduced grants.

he said agric gets 40* as first tranche whilst other businesses get 20%.

will do a screengrab soon

You mean first tranche?

Re: Youwin Business Competition 2013 by bolufelix(f): 2:49pm On Oct 20, 2014

NOT FIRST O. TOTAL GRANT AMOUNT. ME MA ITS AS IF I SHOULDNT JUST GO FOR THIS THEIR VALIDATION OF A THING O.

Re: Youwin Business Competition 2013 by aofete: 3:13pm On Oct 20, 2014

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

Re: Youwin Business Competition 2013 by bolufelix(f): 3:20pm On Oct 20, 2014

AT Afoete well done and congrats. learnt u were awarded all u ask for. congrats

Re: Youwin Business Competition 2013 by Adulphus(m): 4:14pm On Oct 20, 2014

For those that was validated today... Did there ask any question regarding the biz plan or just Briefing and Signing...
Answers are welcome...

Re: Youwin Business Competition 2013 by 4tunebest(f): 5:41pm On Oct 20, 2014

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

Please what time was the validation concluded? I hope it would be just in time to meet up with my flight back 2 lagos tomorrow evening. Thanks

Re: Youwin Business Competition 2013 by bamistol: 6:07pm On Oct 20, 2014

sunylee1:
Fellow YouWiN! millionaires (YouWiN! 3 Provisional Awardees) I am also a provisional awardee and I want you peoples advices on a point that has been bordering me. Precisely those that will do their validation tomorrow can please help with advice from the experience tomorrow.

THE QUESTION:
In my YouWiN proposal I piut in for a media business and when I wanted to do my CAC registration of business name, they (in CAC) insited that I must provide a proficiency certificate, which I dont have; then they advised me to get someone that has the certificate so that I can attache it and include the persons name and passport in the registration document, which I did before they approved my documents for registration.

From the Legal document that YouWiN! sent us I noticed there that part of the demand for new business is that it MUST be a sole proprietorship, and based on my knowledge of business, sole proprietorship means only 1 person regsitered for a busniess and running the business.

Congrates to those who have finished their signing. Please, those from South South that did today should NOT forget to help reply to sunylee1.

Precisely on new business partnership.

I will also like to get full details from you guys. Congrates once more.
Also, there was a mail that YouWiN! sent sometime ago before they selected winners that partnership is NOT allowed for new business and that any new business found to be in partnership will be disqualified adding that partnership is ONLY permitted for exixting business.

In the light of the above, what is the advice of my fellow nairalanders?
What do you advice I do?

Re: Youwin Business Competition 2013 by bamistol: 6:10pm On Oct 20, 2014

[quote author=bamistol post=27306040][/quote]
Congrates to all that did today
Those that did today should NOT forget to respond to sunylee1 questions.

Re: Youwin Business Competition 2013 by chukwuka12: 6:34pm On Oct 20, 2014

Adulphus:
For those that was validated today... Did there ask any question regarding the biz plan or just Briefing and Signing...
Answers are welcome...

Yeah DAT will be nice... A little more info will be appreciated.....

Re: Youwin Business Competition 2013 by toriola86: 7:41pm On Oct 20, 2014

4tunebest:

Please what time was the validation concluded? I hope it would be just in time to meet up with my flight back 2 lagos tomorrow evening. Thanks

Re: Youwin Business Competition 2013 by chukwuka12: 9:13pm On Oct 20, 2014

Waoh!!! D house is so quite. Don't we have other nairalanders that attended d validation exercise

? Pls share your experiences.....

1 Like 1 Share

Re: Youwin Business Competition 2013 by Nobody: 11:52pm On Oct 20, 2014

bolufelix:
NOT FIRST O. TOTAL GRANT AMOUNT. ME MA ITS AS IF I SHOULDNT JUST GO FOR THIS THEIR VALIDATION OF A THING O.

1m from 7.5, to do what? Rubbish!

Re: Youwin Business Competition 2013 by obiscolly(m): 7:01am On Oct 21, 2014

Pls peeps that were there yesterday, how long did the whole process take?

Re: Youwin Business Competition 2013 by Denn(m): 9:39am On Oct 21, 2014

people tend to go quiet once they have done theirs...not fair.

if not for the info on bringing in qualifications, i would have left lagos without them.

peeps there today.

your updates are desired.

thanks

Re: Youwin Business Competition 2013 by Nobody: 11:03am On Oct 21, 2014

It takes around five to ten minutes to get verified. They just need to see ur documents, you sign n go. As for d slashing of fund, its true. I applied for 3.8 only n they approved 3.

Not bad shaa.
Its not rigorous at all as being portrayed.

1 Like

Re: Youwin Business Competition 2013 by bizhub: 2:45pm On Oct 21, 2014

I and my partner applied for 9.2m they gave us 3m

Re: Youwin Business Competition 2013 by Nobody: 3:03pm On Oct 21, 2014

bizhub:
I and my partner applied for 9.2m they gave us 3m

First tranche or the entire approved sum?

Re: Youwin Business Competition 2013 by bizhub: 3:08pm On Oct 21, 2014

1st tranche 20% =600k...Eatery biz

Re: Youwin Business Competition 2013 by Nobody: 3:34pm On Oct 21, 2014

bizhub:
1st tranche 20% =600k...Eatery biz

Do awardees have any idea of what is causing the grant slash? I hope those civil servants are not trying to pocket people's money.

Re: Youwin Business Competition 2013 by Ikandah: 3:38pm On Oct 21, 2014

Nice to be on this thread again after a long while and to appreciate the efforts of those that have kept this thread updated.

The validation is no big deal provided you have all the documents handy, both originals and photocopies. Endeavour to bring along, educational credentials and photocopies even though not specified in the invite. Also, don't forget the accompanying documents to the CAC cert and their photocopies.

Re: Youwin Business Competition 2013 by Denn(m): 3:45pm On Oct 21, 2014

bizhub:
I and my partner applied for 9.2m they gave us 3m

Omg.

Re: Youwin Business Competition 2013 by Ikandah: 3:56pm On Oct 21, 2014

blink182:
Do awardees have any idea of what is causing the grant slash? I hope those civil servants are not trying to pocket people's money.

The slashing is a general case.
When the result was released, there was great deal of excitement that the number increased from 1200 to 1500. Probably, the total budget is still intact while the additional 300 only affected the allocation of fund #justsaying

Re: Youwin Business Competition 2013 by CoolKizzy(m): 5:06pm On Oct 21, 2014

80% got their applied amount slashed, The degree of slashing depends on how good you defended your business plan. how well you convinced them that it is worth the price. I got a Million less.

1 Like

Re: Youwin Business Competition 2013 by manya(m): 6:13pm On Oct 21, 2014

for existing business what do they request, how about the TIN?

Re: Youwin Business Competition 2013 by obiscolly(m): 6:27pm On Oct 21, 2014

Bigboyz32:
It takes around five to ten minutes to get verified. They just need to see ur documents, you sign n go. As for d slashing of fund, its true. I applied for 3.8 only n they approved 3.

Not bad shaa.
Its not rigorous at all as being portrayed.

Thanks bro...around what time were you able to leave the venue? Again, anything as regards opening of accounts?

Re: Youwin Business Competition 2013 by Nobody: 7:44pm On Oct 21, 2014

obiscolly:

Thanks bro...around what time were you able to leave the venue? Again, anything as regards opening of accounts?

I left by 10. As per d account, they said they will notify us in few days time on what to do.

1 Like

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