Problems I'm facing now, just like many Nigerians financial problems. My own come hard finish.bNot yet 100% back on my feet but the debts have become huge..

Gerrard59:


Have you thought of joining a cooperative and get your portion of the lump sum to use for purchase of the machine? Or friends and family?

Whichever option you take, do an analysis of projected sales and revenues and present to whoever is willing to lend the money to you.

Can you mention a coop that have nationwide presence and can give 20m and above? My business need projection right now is between 15-25m to start with toks machinery and sales. According to my survey, the Biz will be capable of between 25-70m in 4yrs. I am currently looking for an equity investors or capital investors interested in manufacturing sector. As it is today, all attention is on fintech neglecting the manufacturing sector. The investor That won't push me aside like healthPlus when the journey starts getting Rosy o.

Aquilazng:
Right now my big p is my CAC reg. Aggregator not picking calls

Are you doing it through a lawyer, or through the Federal government?

Ayofaks:
I'm always reluctant to pay for facebook/instagram advert cos most times it doesn't deliver . That's my biggest problem at the moment

You should learn from someone who's good at it...When applied well, the results would be tremendous for your business.

Brandella:


Are you doing it through a lawyer, or through the Federal government?

FGN bro

Aquilazng:

Can you mention a coop that have nationwide presence and can give 20m and above? My business need projection right now is between 15-25m to start with toks machinery and sales. According to my survey, the Biz will be capable of between 25-70m in 4yrs. I am currently looking for an equity investors or capital investors interested in manufacturing sector. As it is today, all attention is on fintech neglecting the manufacturing sector. The investor That won't push me aside like healthPlus when the journey starts getting Rosy o.

Unfortunately, I don't know of such a cooperative. Regarding financing your business, the best bet are the banks. Private equity investors (I might be wrong) will see your turnover as a drop in the ocean compared to what they're used to. Considering how the manufacturing industry is (dependent on sector), it isn't easy to get funding from PE and also factoring how PE works from financing to exit. If you are generating revenues consistently, you could work out a loan with the help of your accountants and the banks. Use the recent CAMA abi CAC reforms to reduce tax costs. If I'm not mistaken, Buhari's tax laws favour manufacturers.

To attract PE investors, one has to look out for the structure of the company, history and most importantly, the books. This goes beyond HealthPlus as there have been favourable investments and exit in Mouka Foam (Actis Group), GZI, Integrated Diaries (both of Verod Capital), Wemy Industries (Aruwa Capital) and a host of others. Tbh, you need the banks not PE investors. For you to require PE investors especially regarding the purchase of tokunbo not new equipment means your business isn't generating the threshold revenue most PE firms are interested in. Maybe when you want to expand beyond Nigeria, then PE can come in. But then again, if you are sure of the 25 - 75M in four years (dependent on Buharinomics and industry), you need to negotiate a loan financing on interest rates you can afford. This gives you control of the business and helps you stay focused. Nigeria isn't the US where PE can fund manufacturers and you cannot blame investors who run at fintech companies. They not manufacturers are likely to return investments at the appropriate time. It's why when you approach them (PEs) or they meet you, you should understand how they operate.

Best option are: banks and if you know any cooperative that can lend you that amount (although you might have to contribute more or stay longer since you will be new).

Best wishes!

boss ! my biggest problem right now is not the too much calculations exams that am writing.. hustling+schooling ain't easy. capital boss ,I only need $25 to pay for Google play console.. during the covid era I learned how to create small aps and publish to play store..with time they will be generating money for me..$25 na in I no get.

Pk01:
boss ! my biggest problem right now is not the too much calculations exams that am writing.. hustling+schooling ain't easy. capital boss ,I only need $25 to pay for Google play console.. during the covid era I learned how to create small aps and publish to play store..with time they will be generating money for me..$25 na in I no get.

Pls how do u earn by publishing apps on google play

Can u enlighten me on this pls thanks

it's I m

Gerrard59:


Unfortunately, I don't know of such a cooperative. Regarding financing your business, the best bet are the banks. Private equity investors (I might be wrong) will see your turnover as a drop in the ocean compared to what they're used to. Considering how the manufacturing industry is (dependent on sector), it isn't easy to get funding from PE and also factoring how PE works from financing to exit. If you are generating revenues consistently, you could work out a loan with the help of your accountants and the banks. Use the recent CAMA abi CAC reforms to reduce tax costs. If I'm not mistaken, Buhari's tax laws favour manufacturers.

To attract PE investors, one has to look out for the structure of the company, history and most importantly, the books. This goes beyond HealthPlus as there have been favourable investments and exit in Mouka Foam (Actis Group), GZI, Integrated Diaries (both of Verod Capital), Wemy Industries (Aruwa Capital) and a host of others. Tbh, you need the banks not PE investors. For you to require PE investors especially regarding the purchase of tokunbo not new equipment means your business isn't generating the threshold revenue most PE firms are interested in. Maybe when you want to expand beyond Nigeria, then PE can come in. But then again, if you are sure of the 25 - 75M in four years (dependent on Buharinomics and industry), you need to negotiate a loan financing on interest rates you can afford. This gives you control of the business and helps you stay focused. Nigeria isn't the US where PE can fund manufacturers and you cannot blame investors who run at fintech companies. They not manufacturers are likely to return investments at the appropriate time. It's why when you approach them (PEs) or they meet you, you should understand how they operate.

Best option are: banks and if you know any cooperative that can lend you that amount (although you might have to contribute more or stay longer since you will be new).

Best wishes!

You really touch almost every part bro. Thanks for your unbiased contribution. To be honest with you, I ought to have started since last two years. But same have kept me lowkey. As much as am desperate about starting up, am very careful about letting this so called investors steel my business idea, pattern and sales strategy. Am actually doing other things to generate funds presently but the money aren't adding up. Anyways, I hope on God and I believe he will surely make a way for me. "Where there is a will, there must be a way" they say.

Mine is a 250k problem tho, I want to go into foodstuff supply, crayfish for now, I've made contact with the market people in my area, especially Emeka(very honest guy who got the goodwill of people in my area, I buy foodstuff too from him), so we discussed at length and truly it affirmed my observation that stuff like crayfish and the likes are always in demand and with the right quality and quantity sales won't be a problem, I've seen him changed suppliers like thrice cos their quantity was always small(well I follow complain say the quality and quantity was too small for the amount I was paying ).
I have made contact with crayfish farmers in akwa ibom(as per say my mum is from there, their language barrier is off, easy things), good price also, what's left now is raising the funds to start this business, I just saw some persons on NL who offer loans, I have contacted one already, waiting for a response from that one, I will contact the other two later today and see what's up.

As the festive period is fast approaching, it a good time to stock up on these foodstuff(crayfish in my case) and sell a bit higher yet lower than other competitors, sales will be faster, do it the igbo man style and ensure continuous supply.

#250k holding me ooo, well let's see how it goes this week.

I'm open to ideas and suggestions tho .

Aquilazng:

You really touch almost every part bro. Thanks for your unbiased contribution. To be honest with you, I ought to have started since last two years. But same have kept me lowkey. As much as am desperate about starting up, am very careful about letting this so called investors steel my business idea, pattern and sales strategy. Am actually doing other things to generate funds presently but the money aren't adding up. Anyways, I hope on God and I believe he will surely make a way for me. "Where there is a will, there must be a way" they say.

Let me get you straight, you haven't started? If so, most investors will not come near you until you prove yourself business wise. In some cases, they might approach if you are a newbie in entrepreneurship but on certain conditions. Which are but not limited to: the school you finished from (most likely the alumni). The more prestigious the institution, the more investors will be able to bet on you. Some Nigerian-American folks graduated from MIT and Stanford, went to Nigeria and started a business. Adesina of ADB became a board member. They had funding from investors. Why? Their institutions. Or someone like Sim Shagaya of uLesson who had VC funding of over a million dollars immediately he started. Why? He has proven himself with Konga and is a HBS alum.

BREYZ:
Nigeria.

I keep wondering why I was born a Nigerian.

Keep wondering, while others have accepted their Nigerianess and cashing out bigly every other day. Happy wondering

RealEzee:
Mine is a 250k problem tho, I want to go into foodstuff supply, crayfish for now, I've made contact with the market people in my area, especially Emeka(very honest guy who got the goodwill of people in my area, I buy foodstuff too from him), so we discussed at length and truly it affirmed my observation that stuff like crayfish and the likes are always in demand and with the right quality and quantity sales won't be a problem, I've seen him changed suppliers like thrice cos their quantity was always small(well I follow complain say the quality and quantity was too small for the amount I was paying ).
I have made contact with crayfish farmers in akwa ibom(as per say my mum is from there, their language barrier is off, easy things), good price also, what's left now is raising the funds to start this business, I just saw some persons on NL who offer loans, I have contacted one already, waiting for a response from that one, I will contact the other two later today and see what's up.

As the festive period is fast approaching, it a good time to stock up on these foodstuff(crayfish in my case) and sell a bit higher yet lower than other competitors, sales will be faster, do it the igbo man style and ensure continuous supply.

#250k holding me ooo, well let's see how it goes this week.

I'm open to ideas and suggestions tho .

Meet those moneybags (however you define them) closest to you. Make concessions and provide financial projections. Be honest and straightforward. The first set of people who will invest in a new business are friends and family. When it becomes extremely profitable, others will become interested but certainly not at first.

Apart from the fact that I am so broke right now, I'm owning two people the sum of 35k and it's too pressing on me. Only calls and text messages from the one I'm owning 10k can break anyone.

Gerrard59:


Meet those moneybags (however you define them) closest to you. Make concessions and provide financial projections. Be honest and straightforward. The first set of people who will invest in a new business are friends and family. When it becomes extremely profitable, others will become interested but certainly not at first.

true tho, cos some peeps I talk with will be like "yeah fantastic idea" but they won't drop money oo, funny peeps , well I've already to terms with that sef cos lots of peeps will naturally want to bring money when the business is already cashing out, normal life Sha .
Let's see how this week goes, thanks for the feedback too

my biggest problem now is how to raise enough money to pay my school fees so as to continue my pharmacy school...

mehn it's not been easy, done everything possible but everything failing...
I just hope I don't drop out... #sad

Brandella:


Have you planned what you are going to need to scale your pastry business?

what i need most now is an oven ...the others would follow after production increases..God nor go shame us jare

Gerrard59:


Have you thought of joining a cooperative and get your portion of the lump sum to use for purchase of the machine? Or friends and family?

Whichever option you take, do an analysis of projected sales and revenues and present to whoever is willing to lend the money to you.

joining a coopearative requires some sort money and some more to be able to acess loan of which i don't have... Friends and family do the best they can...in all i will get there... Like i said God nor go shame us

Pk01:
you earn by publishing small apps on playstore,u then look for traffic,let say you have five small apps on playstore and those are apps are generating at least $2 each ,that's about $10 aday, $300 a month about 90k a month. for you to publish ur apps on play store you have to pay a one time payment of $25.. ..

drop your WhatsApp no.

I sent you pm sir

Aquilazng:

FGN bro

Okay, I think that will take a while because of the situation of things in the country.

Asides, don't let that disappoint you! Keep learning and researching your target audience, focus on things you can control

mommaJ:
joining a coopearative requires some sort money and some more to be able to acess loan of which i don't have... Friends and family do the best they can...in all i will get there... Like i said God nor go shame us

What part of the country are you in?

Cc:Gerrard59
Please, can you shade light on the pros and cons of this federal government youth investment fund to one who wants to startup something using funds from this scheme. Thanks.

unzend:
The closest place to place to Lagos that serene and calm to live in........and also cheap

Tired of the Lagos hustle and bustle

We are in this together.

I'm also looking for a place.
Decided to settle for onitsha but

Brandella:


What part of the country are you in?

South south. Why?

My biggest problem is getting a consistent customer to patronise my logistics/haulage business.
It’s a new business tho but I need more patronage.

guysis:
Cc:Gerrard59
Please, can you shade light on the pros and cons of this federal government youth investment fund to one who wants to startup something using funds from this scheme. Thanks.

Sincere apologies but I don't involve myself or bother to know anything about federal government's investments' policies. Whether Npower, TraderMoni or this new one mentioned, I'm not just interested.

My problem is not having enough resources to meet up the demand for my logistic business

mommaJ:
South south. Why?

I have a friend who owns a bakery in PH. I was banking on coincidence, placing 1 and 2

Brandella:


I have a friend who owns a bakery in PH. I was banking on coincidence, placing 1 and 2

oh...i am in delta state

mommaJ:
oh...i am in delta state

Keep your fingers crossed though, I hear http://instagram.com/onecapital_ is planning something for small businesses.

Brandella:


Keep your fingers crossed though, I hear http://instagram.com/onecapital_ is planning something for small businesses.

ok will check them out. Thank you