welcome to INCOMENIGERIA, This post is all about how you can get money to start business in Nigeria. Nothing like having your personal business doing. With the speed of economic frustration in Nigeria, a lot of youths are deeply in need of starting their own business. However we all already know that all businesses required a startup capital if not huge then small.
The question is, how do one get money to start his/her personal business in Nigeria? This is common question been ask routinely by many folks, so who have the answer?
Let’s be our brother’s keeper and share some ideas. On this post we are going to list some means one can raise money for business in Nigeria, in addition we will go in details so everyone who wish to start a personal business can grab something good today.
How to raise money to start a business in Nigeria.
Currently it seem the country is helpless to it’s youths. Empowerment is totally on a coma point, leaving everyone to fight out their dreams by themselves. So what do we do? we would love to wait but no time so let’s get our thinking on point.
Have a dream of your business.
Before you can pursue invisible thing you must first have it shape, how far it can go and how far you think you are ready to pursue it, this things are necessary to consider before you get kick. If you have no business dream or enjoy working for bosses, we sorry this post won’t be what you need at this time.
Plan your business very well
What amount of money do you need to start your dream business? What stage would you want to start? Where do you want to start it? does your target customer’s lives around your business idea location? What are the things required of you for the business? How long are you willing to go for the business?.
Consider this things at first before moving forward, as you already know nothing good comes easy, it only your mindset that will keep you going at the time you start facing the hit.
Secret of growing a business: Don’t have in mind that your business will make you rich in the next 6 monts. It will only discourage you if things doesn’t work out as you thought. One greater success secret of business is starting like you are not going to see profit in 2 years to come. This will motivate you to only invest at the beginning and wait for profit after long period of investment.
If you don’t know yet, the reason why many businesses folks fail is due to too early expectation of their business success. It may not work that fast, you just have to be patient why you keep investing.
7 Ways How You Can Get Money To Start A Business In Nigeria
Now let’s go to the major purpose of this post which is how you can get money to start business in Nigeria.
1. Sell Your Old Unused Properties To Raise Money To Start A Business
There is a saying that (use what you have to get what you want). Why not sell out those unused properties of yours to raise some cash for your business?. If you have laptop, TV, Home theater etc which you know you won’t be using for the time been, sell them and use the one to start something doing. You can always buy them back when you have money from your business.
Instead of seating at home looking at what won’t add any benefits, sell them and start doing something. The money you may raise from those items may not be upto what you are looking for, however it can start something for you at this time. It possible to look for other small business which you can raise more money from to start your dream business. It an error to have 2 cars and still be complaining of lack of job and business. For your own benefit, don’t sell valuable asset such as land ad house.
Where to sell your used properties in Nigeria
The best place to sell your used items is jiji.ng and olx.com, there are other online classifieds website where you can sell your used items easily as well but jiji and olx are more active currently in Nigeria.
How to sell your used item in Nigeria
- Take a photo of the item
- Visit jiji.ng
- Register account
- Click post Free ad
Make sure to give good details and discrimination of the item and put a good attractive price.
Post it and wait for the calls to come in.
After posting your ad on jijj it time to also post it on olx.com to fasting the sales.
- Visit www.olx.com
- Click register to create an account
After you complete Registeration click post ad
- Enter the item details and price
- Submit it and wait for calls to come in your phone.
2. Help Traders Sell Their Items For Commission
With this you can be able to raise money to start your own business. What you are required of is to have a good working smart phone with long lasting battery.
Visit any warehouse closer to you that deal on wholesale items. Discuss business deal with them that you will be bringing customers to them for a little commission, you could just add your commission to the item while marketing it. This is to say if the item is N20,000 Naira then you go out and market it for N25,000 Naira, you get N5,000 Naira on any item you sell. This is what we call (Broker) a middle man between the seller and buyer. Best place to sell anything I jijj.ng and olx.com, you may also try efritin.com.
3. Request For a Loan
This is not easy as people thought, but you can give a trying hand. If you have something that worth collateral it may be easy for you to pitch banks and some loan industries about your business and need for a loan. For those with house, land and other valuable asset you can give a trial.
For those without something worth collateral, you would want to check some Ajor and daily contribution companies for a loan. Most cases before you can get a loan from daily contribution companies you are required to be among their clients.
4. Request Money From Friends And Family
A serious business folk will not put on shame, because nothing good comes easily. Meet with your family or friends. Plead for money with return interest if they won’t just help you with it. Before doing this make sure that your business idea is something that worth considering and you are pretty sure it will yield you good income in future.
5. Meet Your Church For Loan Or Help With Money To Start Business
This is where you can easily get money as loan or help if you are well known in your church. Meet with your leader and plead for help to start a business. Your church could consider giving you a loan or just help you with it without a pay back. The church is full of kind people, so getting help won’t be much difficult if you are well known in church.
6. Get A Job To Get Money To Start Business
If you don’t have any means of raising money for a business why not look for a job? Get any job that can be paying some good cash monthly or weekly, you don’t have to seat at home all day because you couldn’t get money to start your business.
Forget your degree and personality at this time and go look for any available job out there and start raising money. Who knows maybe fom the job you could be able to raise your business capital or even run into luck where someone could sponsor your dream business.
7. Sell Your Hand Work to Get Money To Start Business
If you know how to do something, why not sell your handwork? If you are a social media marketer, Seo expert or have Web design/development knowledge you can get contrat job online for good amount of money. Web, mobile development and graphic design is one of the hit area that people are looking for everywhere online.
8. Teach People What You Know To Get Money To Start Business
You can organise small seminar and teach people what you know. No idea is wasted, If i want to convert this post to make money from it, all I need is just to host a seminar tittle “How to make money to start a business in Nigeria”. Hundreds of people will want to pay N500 to hear what I have to offer. If you should calculat N500 x 200 peole, it’s N100,000. You see the simple thing?
Information is powerful and if you have no idea of anything which others would want to learn from you then go and think of something learnable.
One of the most import thing people would want to learn is how to make soaps such as liquid soap, antiseptic liquid soap, medicated soap such as dettol etc. If you have such knowledge, you have to monetize it by teaching others for small amount, you can be hosting seminar every week.
How to make ankara bags and shoes is very profitable as well. People want all of this knowledge so don’t just seat there waiting for money to knock your door.
It not an excuse to stay at home doing nothing because you couldn’t get the money you needed business. Just do something and God will bless your hard work.
This article (how to get money to start a business in Nigeria) took time to put together, you should be able to figure out something to do in order to get money to start your personal business by now. If we get hold on more ideas, we are going to share it with you here also.