faulker047

Lack of capital is one of the biggest threats to entrepreneurs across the world, especially in tough business environments like Africa. In fact, most people say it’s hard – almost impossible – for entrepreneurs to raise capital on the continent, especially if you’re a startup. But, in most cases, “lack of capital” is not the problem. The real problem is  “lack of awareness.” Below are some practical ways of financing your new business idea. Bootstrapping When first getting started, many entrepreneurs use “bootstrapping,” which means financing your company by scraping together any personal funds you can find. This typically includes your savings account and any home equity lines you may have. In many cases, using the money you have instead of borrowing or raising is a great approach—in fact, some entrepreneurs continue to bootstrap until their business is profitable. This can be beneficial because it means you won’t have extensive loans and monthly payments that bog you down, especi...

Most people have good business idea but they assume that their idea will never get far off the ground unless they have major funding behind them. If your idea and plan of execution aren't well thought out from the beginning, no amount of money can turn it into a winner. Some persons see there business idea as additional means of income stead of taking it mainstream. Coming up with a good idea isn’t a static process; it involves a lot of trial and error. To help, I had come up with the list of businesses you can do to build up your finances in no distance time. Most of these businesses I still do till today, and they are very lucrative and profitable, judging from my experience over the years. You can start of the the business with capital of about N20,000 and you can generate up to N2million in net profit within a year, if you put your time and be dedicated. Most of these can be done at home in your spare time, and in your spare space, too. See if there are any ideas below that fit...