Finance45 Comments

To raise money for business has never been easy for entrepreneurs in Nigeria. It is one of the greatest challenge and would be business person could face. It doesn’t matter how beautiful your business idea looks like or how close to your heart it is, once you’re not able to raise the money to put your ideas to motion, such idea is as good as death.

So how can entrepreneurs in Nigeria solve this most important business problem? Are there easy ways to raise money for business in Nigeria, and how can one go about it? There is no problem without solution and we are going to proffer solution to this major problem here with this post.

I am not going to suggest banks because I know you may not be comfortable with that idea due to how banks in Nigeria are fond of turning small businesses down. No matter what you do to impress them, they may never get impressed after all. So we want to focus on simple strategies that has worked effectively.

Below are some of the top means of raising money for any small business in Nigeria fast enough to put you on the drivers seat in your new start up. I sincerely believe you can make it with this suggested means of raising money because it has worked for many and will surely work for you if you try it.

1. Personal Savings – This is probably the best means of raising money for any business. I understand what is going on in your mind right now – if you have personal savings will you be looking for how to raise money, right?

Well, the problem is that we don’t use to approach this the way it should. We hit business idea and we want to raise the money to get started straight away. No! Give it some time like 8 months or one year. During these period of time, you design special savings scheme and work towards it.

Learn how to deny yourselves of some luxuries at this point in time. If you have been spending N100,000 monthly, starts spending N60,000 and saving N40,000 towards your project. You’ll find out that much money can be saved simply by just denying yourselves a bit.

2. Family and Friends – These are the people that trusts you most in life. There is no how you wouldn’t get some substantial amount of seed investment from them if you come out openly and sincerely to them. Make them see the viability of your business idea and promise them something if possible.

If you can’t get your family and friends to trust your investment idea, trust me you will find it hard to get others to believe you. Personal reputation is very important in this regard; you don’t wait till you need money before you work on this. It is an asset you can fall back to in time of need. Therefore, develop good reputation among your family and friends. If you already have it, this is the time to tap into it and get that needed start up fund for your business idea.

3. Co-Operative – This is simple. Join one now and save some amount of money with them on regular basis till some period of time, maybe six months. Whatever amount you’re able to save, they will double that for you while you pay gradually and at reasonable pace.

This means of raising money currently enjoys good commendation among entrepreneurs in Nigeria. Many businesses have been known to be resurrected back to life through co operative society’s funding. It is a win win game.

4. Partnership – Do you know someone with similar idea like yours? Or someone you can trust to work with? Approach this persons for possible partnership, preferably someone who is more financially buoyant. He may have the money while you have the idea.

Partnership is one of the biggest driver of invention if you seek and finds the right partner. Most of the world’s biggest companies today came as a direct result of wise partnership.

5. Angel Investor – Angel investors are not necessarily some invincible money bags hiding somewhere near Silicon Valley. No, they may just be that your uncle in Lagos or that your beautiful aunty living in Abuja. He may just be that big man in your village or your street where you live. He may even be the MD of the company where you work.

Approach any of these guys and offer them some percentage of your equity in exchange for seed investment. Make sure your business plan is good enough to convince them to invest.

These are my top 5 practical means of raising money for business. YET there is one I haven’t mentioned yet. Very quick means of raising money for business, quicker than all of these.

Related Posts

45 Comments

  • BASHIRU SHAIBU August 26, 2013

    Interested

    Reply

  • Anonymous August 26, 2013

    I am highly interested. Thank you sir for the great work you are doing here, no imitators will be like you

    Reply

  • Pacte Pedro August 27, 2013

    i am interested Sir

    Reply

    • Darlinton Omeh August 28, 2013

      Pls I'd like anyone indicating interest to briefly describe the nature of business he/she needed the fund for. Thank you!

      Reply

      • Wesley November 4, 2019

        I am interested. Restaurant# sir

        Reply

    • Angela Anichukwu November 4, 2013

      Am interested in getting funds (animal farming)

      Reply

  • Anonymous August 29, 2013

    Interested, want to establish a private nursery and pry school.

    Reply

  • Menelon August 30, 2013

    You are a great man and I pray that God continue to guide you in what you. I'm interest too

    Reply

  • Anonymous September 24, 2013

    I'm interested

    Reply

  • Nineveh September 24, 2013

    I am interested, we already have a Haulage Business running lucratively. We have tapped into the secret of how to make it highly lucrative and successful. Not only that but at the rate we are going, we will be able to save plenty many Nigerians from the clutches of greedy commission takers! Investor will be highly impressed!

    Reply

  • mufutau sodiq September 24, 2013

    No more Ghost reader. I have statd Banana Plantaintion ön my mum unused Land.. Thanks 4 al d hints.

    Reply

  • Anonymous October 6, 2013

    Great info, you are a star I appreciate you sir. I ve four business interest to choose from, depend on the one that resource is easier and quicker to get due to heavy time loss in the past. Thanks once again. Mr. C. I

    Reply

  • IKECHUKWU MICHAEL November 22, 2013

    Good day, i want to thank in a special for all your good works, men cannot pay you except God whom i believe will surely increase to the highest level.
    The first day i came across your write up about kerosene business, i was lighted up with hope, that about two month now, but after trying all my possible best to raise money i have to raise any,so all my dreams and hope are kind of dyin…
    please i will be greatly grateful if u can help me raise money to start off the kerosine business. i have a great intrest in the kerosine business, i believe it will work for me. i await your reply….

    Reply

    • Darlinton Omeh November 22, 2013

      LOL… Follow the strategies I mentioned on this post and raise money for your business

      Reply

  • Ruky November 25, 2013

    Interstd in raising fund for my ICT company.I need to expand it and branch into other areas of ICT,at present we are only into networking and security.Thanks a lot, I enjoyed the write up

    Reply

  • Ruky November 25, 2013

    Great write up,I will like to raise funds for my ICT business.We are currently into networking and security(car tracking,electric fence etc)but I want to branch out into other fields of ICT and open another branch in abuja

    Reply

  • Wanda Arrington Akorede December 6, 2013

    Looking for funding for a renewable energy project in Nigeria.

    Reply

  • Samuel December 22, 2013

    I
    already floated an incorporation, trillionth technology, poised at
    creating an alternative means of employment for Nigeria youths by
    training them on different technical skill but i need fund to organise
    seminars

    Reply

  • Adedayo Oluwasegun January 24, 2014

    I need 10,000usd for binary options trading business. Its the BEST AND MOST PROFITABLE online business now!!! Even if its a loan, I am willing to get it and pay back in 10 months with up to 20% interest.

    Reply

  • Lauri March 13, 2014

    Interested need funds for my fish pond

    Reply

  • sani oghenakogie leonard March 15, 2014

    Very encompassing write-up, i'm a student of Obafemi Awolowo University,Ile-Ife and i have been involved in a couple of entrepreneurship activities for some time now. I have a business plan for a new concept fast food business, would appreciate any help I can get either directly or indirectly from you. Thanks.

    Reply

  • Victor Chigozirim August 16, 2014

    Nice job. I'm interested. I'm looking forward to make my first feature film

    Reply

  • Maureen September 3, 2014

    So Mr Omeh, how many more comments are required before you can tell that people are interested enough to get this information you want to "blow open"?

    Reply

    • Darlinton Omeh September 3, 2014

      The total comments so far is just 23 spread over a period of one year. That's about two comments per month. That to me does not represent enough interests, so I'm keeping it personal for now.

      Reply

  • Anonymous December 30, 2014

    pls sir how can I get small funds to revive my clothing business sir.

    Reply

  • Anonymous April 21, 2015

    THIS IS WHAT I HAVE BEEN LOOKING FOR WITH MY SIX YEARS EXPERIENCE AS AN OPERATOR, A MIXER AND A BAKER AND WITH THAT OF MY FRIEND WE ARE READY FOR THIS BUSINESS GOD BEIN OUR HELPER

    Reply

  • Nebeolisa Mary June 3, 2015

    Good afternoon sir, Mr. Darlinton, please l need the loan to buy a tricycle. The business is bumming here in Abuja. I am a widow with 2 kids, l would be able to pay back in 6 months if accessed. with other little business l do. just burgled into your website. Thanks.

    Reply

  • unomaefe December 21, 2015

    Interested! Cosmetics business

    Reply

  • Bae January 31, 2016

    hi mr darling, well i don’t think you need a million responses to start, i believe any help you offer here will speak for itself plus this website is not so out there or else thousands of response will be pouring in, anyways now that i have discovered you, I’m interested in raising funds for yam distribution and supply in abuja. i have read your piece on exportation of yam and yam products and i hope to get there in a little time, thats on a bigger goal terms. you doing a good work with the informations here, its been pretty helpful and an eye opener.
    well if you can assist me in any way or steer me in the right direction, i will appreciate and owe one.
    thanks.

    Reply

    • Darlinton Omeh February 2, 2016

      Sorry the program was since 2013, it no longer exist and we have written articles about it. You can try and use cloudfunding to raise money from people including family and friends.

      Reply

  • ISIMIJOLA OLANREWAJ February 9, 2016

    I need to launch my book and audio presentation and I need 1,500, 000

    Reply

  • Israel February 24, 2016

    I want to start an event/advert company.I have a wonderful idea that would guarantee money. I need some money though to buy some equipment. Interested Partners call reach me on

    Reply

  • Dr. Osagie Michael March 31, 2016

    You have done a very great job,our company is interested in partnering with you for seminars and trainings in benin,warri,asaba.

    MD,Vosmik limited
    Benin city

    Reply

    • Oganaji F. April 4, 2016

      recently i discovered how to produce all dry processed detergent i want someone who assist me with found to make it big. The factory is on going already, interested financial investor can have access to know the progress of the factory.

      Reply

  • Ewenla May 7, 2016

    Reading the post for the first time!
    U are fantastic, u are such a nice guy to let out such just for free!
    God bless!
    Pls am a small scale poultry farm & I need fund
    Thanks

    Reply

  • TAIWO ISAAC July 8, 2016

    whao, all these ideas are wonderful ones, but what about writting to religious organizations if they could help, will it work?

    Reply

  • collins_tyra August 20, 2016

    im trying to invest in business in Nigeria, but I don’t which business to go into

    Reply

  • AwuaBiemdoo October 2, 2016

    I have the technical nohow and the only thing I need is the finance to go into ICT especially web development area. Any true firm giving loan with collateral I they.

    Reply

  • dareapata October 16, 2016

    Hello, I need a business partnership that is interested in investing, which will bring fourth profit because it is profitable. Thanks,-07060934946

    Reply

  • Olanma Ola August 4, 2017

    I’m interested. Share the tip sir, those available anx interested will utilize it. I believe there are few comments because not everyone is aware that such a update is here

    Reply

  • BGO January 24, 2018

    Dear Sir,

    I am very interested in the remaining tips on raising money for a business in Nigeria.

    Reply

  • John okami April 28, 2018

    Wow tanks for this idea just awaken somethin in my head but the remainin one we ar interested

    Reply

  • Damilola September 26, 2019

    This is such a great motivating write up, I have been trying to set up a poultry business but the major challenge I have been facing is securing atleast an acre (1 acre) of land. Am based in Ado Ekiti and I have been saving towards actualising this dream. I’ll look forward to your response sir. Thanks

    Reply

Add a comment