How Do I Raise Fund For My New Business? - Business

How Do I Raise Fund For My New Business? - Business - Nairaland

Nairaland Forum › Nairaland General › Business › How Do I Raise Fund For My New Business? (19873 Views)

How Do I Raise Fund For My New Business? by obillyj(op): 3:03am On Nov 07, 2019

Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

11 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by Kenoxman(m): 4:11am On Nov 07, 2019

Get a job that allows you flexibility of time. May be a part-time or contract job. Save as much as you can. Use the free time to build urself and the business.

54 Likes 5 Shares

Re: How Do I Raise Fund For My New Business? by adaperry25: 6:09am On Nov 07, 2019

obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.
Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.
Thanks.
Tg

don't be deceived by submitting a proposal to so called investors ..no one is ready to help in this country.. better get your personal funds or funds from family and friends..I created a thread seeking for investors..some feigned interest and later ignored, one of them who is a nairalander was drilling me with questions unending, I was also giving him answers, when he got tired , he simply said he wasn't interested..it's when your business starts booming, you'll see the banks and investors knocking at your door and begging you to invest..that's the real Life

196 Likes 12 Shares

Re: How Do I Raise Fund For My New Business? by obillyj(op): 11:37am On Nov 07, 2019

Kenoxman:
Get a job that allows you flexibility of time. May be a part-time or contract job. Save as much as you can. Use the free time to build urself and the business.

Am tired of the 8-5 jobs 6 days a week. You get salaries that you can hardly save. You spend years building someone else dream with nothing to show for it while yours is busy drinking Pepsi.
One needs to take the bold step now or remain at the mercy of employers

105 Likes 7 Shares

Re: How Do I Raise Fund For My New Business? by obillyj(op): 11:38am On Nov 07, 2019

adaperry25:
don't be deceived by submitting a proposal to so called investors ..no one is ready to help in this country.. better get your personal funds or funds from family and friends..I created a thread seeking for investors..some feigned interest and later ignored, one of them who is a nairalander was drilling me with questions unending, I was also giving him answers, when he got tired , he simply said he wasn't interested..it's when your business starts booming, you'll see the banks and investors knocking at your door and begging you to invest..that's the real Life

Wow, you have a good point. Thanks

20 Likes 2 Shares

Re: How Do I Raise Fund For My New Business? by WalkerMichael(m): 12:18pm On Nov 07, 2019

LALASTICLALA

Re: How Do I Raise Fund For My New Business? by Dee60: 2:15pm On Nov 07, 2019

Re: How Do I Raise Fund For My New Business? by qanda: 2:15pm On Nov 07, 2019

OP, give us an idea of the business first, the industry it serves, is it a B2C or B2B business? Do you sell a product or offer a service? Do you have a business plan?

Answering these questions will enable the 'Senoir Class' members here offer you useful advice.

The generic response is:
-Family and Friends
-Crowd Funding
-Personal savings
-Take a loan
-Get a Business Partner
-Get an Investor
-Apply for a grant

19 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by Nobody: 2:15pm On Nov 07, 2019

NNE sorry, won't want to dash your hopes or say you should not try but banking on anyone to bankroll you will only frustrate you and kill your hope.

First rule in the street, there are no friends(family inclusive) you are a lone ranger till you make it.

95 Likes 5 Shares

Re: How Do I Raise Fund For My New Business? by Sunofgod(m): 2:15pm On Nov 07, 2019

Yahoo yahoo

2 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by MountainView: 2:16pm On Nov 07, 2019

Don't hope for any investors,cos there ain't any in Nigeria at the moment,the ones we have are busy investing in Tacha and Mercy.

Just look for a part-time job save enough Money, if the business becomes a success.

Investors go dey knock for your door like Jehovah's Witness

27 Likes 3 Shares

Re: How Do I Raise Fund For My New Business? by Nobody: 2:16pm On Nov 07, 2019

no rich stranger is going to give you money, if you dont start your business, ask money from families and friends especially your father or mother to start

let people see that you have started and also make some cash and people with money will want to support you

lastly, do not collect loans to start a business, you use loan to expand your business when you are making cash not to start

32 Likes 2 Shares

Re: How Do I Raise Fund For My New Business? by ezegenigbonine: 2:16pm On Nov 07, 2019

TEF
Tony elumelu foundation

4 Likes

Re: How Do I Raise Fund For My New Business? by sleekyjay(m): 2:17pm On Nov 07, 2019

500 odds * 1000 naira
= #500,000

9 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by MadCow1: 2:17pm On Nov 07, 2019

obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

How much money are you looking for?

Re: How Do I Raise Fund For My New Business? by mployer(m): 2:17pm On Nov 07, 2019

obillyj:
Am tired of the 8-5 jobs 6 days a week. You get salaries that you can hardly save. You spend years building someone else dream with nothing to show for it while yours is busy drinking Pepsi.
One needs to take the bold step now or remain at the mercy of employers

Start with your money. If you don't have money don't start. It's that simple.

1 Like

Re: How Do I Raise Fund For My New Business? by Mutemenot(m): 2:18pm On Nov 07, 2019

If you have helpers, just meet them and make it brief.. You do necessarily need to write out all you want b4 u get helped

Re: How Do I Raise Fund For My New Business? by lincsnuel: 2:18pm On Nov 07, 2019

Re: How Do I Raise Fund For My New Business? by JoeMaddog: 2:18pm On Nov 07, 2019

Buy a laptop, render some freelance services.
If you don't have any skill, learn gradually. In 6 months, you'll start earning. Then you can channel your money to whatever business you want to do.

12 Likes

Re: How Do I Raise Fund For My New Business? by Beverlyjean(f): 2:18pm On Nov 07, 2019

Juve 1
Barca1
Spurs 1
Atletico1
Inter1
Young boys 1
Napoli1
Leeds under 3.5
Slavia Prague 1
Az Alkmaar 1

Put 50k... U will thank me later

14 Likes 4 Shares

Re: How Do I Raise Fund For My New Business? by EtherealAnn(f): 2:18pm On Nov 07, 2019*

people don't like to help when it comes to money,but now that your topic is on front page you might get lucky

7 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by Happyguy201: 2:18pm On Nov 07, 2019

Go into ashawaooo business wetin 2 months you can make that 500k u want .

5 Likes

Re: How Do I Raise Fund For My New Business? by Iogobenz(m): 2:18pm On Nov 07, 2019

How them take dey answer this kind question?
The business no get name?

Re: How Do I Raise Fund For My New Business? by OgbanjeProphet: 2:19pm On Nov 07, 2019*

Before you waste your scarce resources on any business in this country, learn and understand the business well. No go open shop just because Chinedu get shop.

God bless your efforts.

38 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by cliqtips: 2:19pm On Nov 07, 2019*

This is the kind of thread that should grace the home page and should get people talking but no, they wont talk about it

8 Likes 1 Share

Re: How Do I Raise Fund For My New Business? by Nobody: 2:19pm On Nov 07, 2019*

family , friends, part time jobs . Nobody will want to support your dream in recent Nigeria except good connections. Even banks, i could remember recently that i went to my banker, asking him in case i have inflow of dollars like, 20k legally every 2 weeks from abroad, would there be any limitations or complaint to the higher authorities and efcc will be after me? He told me the implications, unless i fill a form ahead, that am expecting some funds from so so so for soo reasons, and if genuine, i dont have problem.
He now rounded it up that if its consistent for more than, lets sy 4 months, the bank can pay me a visit and really want to do business with me or ask me what am into to get concurrent inflow. I was just laughing. Nobody will investigate the source of your poverty but will raise eye brow when you are making it.
@ obillyj Which ever way you like to raise funds, never reveal the total package of your ideas. Many will discourage you and later steal your ideas and turn it to theirs. UBA Dragon Den came to mind.

30 Likes 4 Shares

Re: How Do I Raise Fund For My New Business? by femi4: 2:20pm On Nov 07, 2019

obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

There is nothing wrong in taking a loan to start biz.....anyway, you can start taxing your love ones and family members

2 Likes

Re: How Do I Raise Fund For My New Business? by Josh44s(m): 2:20pm On Nov 07, 2019

JoeMaddog:
Buy a laptop, render some freelance services.
If you don't have any skill, learn gradually. In 6 months, you'll start earning. Then you can channel your money to whatever business you want to do.

I will be grateful to you for life if you can help me with some freelance tutorials websites or files to enable me learn such skills. It ain’t lately honestly.

3 Likes

Re: How Do I Raise Fund For My New Business? by cooltola(m): 2:20pm On Nov 07, 2019

get a job and save. little by little, you will get there. You do not want loan to get from friends so they will use as a bragging rights. N500000k is doable. Good luck

2 Likes

Re: How Do I Raise Fund For My New Business? by BabbanBura(m): 2:20pm On Nov 07, 2019

obillyj:
Lately, I have summoned the courage to start up a business. I have several business ideas but had being afraid to make the move because of all that is involved. I am ready to do so now but faced with the challenge of getting funds.
I will need about half a million to kick off and don't want to start with loan.

Do I need to write a proposal and submit to my prospective helpers or do I just meet and explain to them. I hope also to raise the fund from family and friends. How do I go about it please.

Thanks.

Tg

This ya Monica though!

Re: How Do I Raise Fund For My New Business? by donziller(m): 2:21pm On Nov 07, 2019

Yahoo Yahoo

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