[1 Minute Read]
Funding is one of the major challenges small business startups face because a lot of SME owners do not know how to raise money for their business. Although micro finance institutions do give loans, how else can an SME source for funds?
Watch Honey Ogundeyi and Tunji Andrews on this episode of Analyse This as they discuss various funding opportunities available for startup companies in Nigeria.
Do Nigerian banks offer loans to SMEs? Do this SME’s meet up the requirements for receiving funds from investors? How about getting loans from family and friends? or applying for a grant or competition that encourages entrepreneurship?
The discussion was spiced up by Chukwuezam Obanor, CEO of Prepclass.com.ng., an online based platform that connects learners to tutors. The young entrepreneur, who had gotten several grants from small non-governmental organizations in the past, threw more light on how he got a grant of 300,000 dollars from an international NGO to fund his business. He also spoke about the criteria for applying for such opportunities and online platforms where SME owners can get more information on getting grants.
Watch the full discussion on Analyse This Below
Read Also: Analyse This: The Glitz and Glamour of the Nigerian Fashion Industry