Start-ups

BoI To Give Corps Members N2m Start-up Capital

BoI To Give Corps Members N2m Start-up Capital

Business, Finance, Inside, News, Start-ups, Youth
The Coordinator of the National Youth Service Corps in Osun State, Mr. Emmanuel Attah, has said the Federal Government has made plans for corps members with good business ideas to get loans of between N200,000 and N2m to start their businesses after the service year. Attah stated that the loan, which would be given in collaboration with the Bank of Industry, the Central Bank of Nigeria, and Small and Medium Enterprises Development Agency of Nigeria, would be made available to corps members after they might have undergone skill acquisition and entrepreneurial development programmes. The coordinator said this during the skill acquisition and entrepreneurial development inter-platoon competition and exhibition at the NYSC Orientation Camp in Ede, Osun State on Tuesday. Attah stated, ...
Dangote’s Multi-Million Naira Unibadan Business School Ready Soon

Dangote’s Multi-Million Naira Unibadan Business School Ready Soon

Business, Enteprise, Features, Finance, News, Start-ups
Aliko Dangote Foremost entrepreneur in Nigeria has assured that the N250 million University of Ibadan Business School being constructed by him would soon be ready for commissioning. The business mogul is also constructing same type of project in the Bayero University Kano (BUK) and will be ready for hand over to the university management anytime from now. The UI project being undertaken by the Aliko Dangote Foundation was sequel to a pledge made by the business mogul last year during the convocation ceremony by the university when he was conferred honorary doctorate degree along with some other eminent Nigerians. The University of Ibadan management later requested that the pledged funds be used to construct the building complex within the premises of the Business School under Prof
NBCC: Cash Flow Major Challenge to SMEs

NBCC: Cash Flow Major Challenge to SMEs

Business, Enteprise, Finance, News, Start-ups
The Nigeria-British Chamber of Commerce (NBCC) has identified low cash flow in as a major challenge to Small and Medium Enterprises (SMEs) in the country. Speaking with The Nation, NBCC President, Mr Akinola Olawore, advised the government to do more of infrastructure spending to redress the situation, adding that entrepreneurs’ activities will help Nigeria attain sustainable growth. Olawore said consumption of locally made products and export activities are required for national growth and not crude oil prices. Confirming that finance is always a problem, he said finance remains the quest for entrepreneurs to expand businesses. He identified two other major problems to include entrepreneurs’ lack of management skills and lack of information infrastructure for SMEs. He, however
Group Restates Commitment to SMEs Growth, Poverty Reduction

Group Restates Commitment to SMEs Growth, Poverty Reduction

Business, Capital Market, Economy, Inside, Start-ups
With a vision to establish Nigeria as a global economic force through empowerment and wealth creation, Stanford Seed Transformation Network Nigeria (SSTN) has restated its commitment to empower more start-ups to build strong processes and sound governance principles to ensure poverty in the country is tackled to its barest minimum. President, Stanford Seed Transformation Network, Nigeria, Mrs Nwamaka Okoye outlined this vision during the group’s first anniversary and end of year dinner in Lagos. Themed “Refresh”, the keynote speaker at the event and Chairman, MTN Nigeria, Dr Pascal Dozie advised entrepreneurs to remain focused, have a great mission in order to stay afloat and succeed in business. He noted that apart from being intelligent, three other key requirements needed to be
Tips Entrepreneurs Must Learn About Budgeting

Tips Entrepreneurs Must Learn About Budgeting

Business, Editors Picks, Recommended for you, Start-ups, Working Woman
As a general rule, every business must operate around a budget. From allocating resources to financial responsibility, a budget shows the amount of money that is available for capital and recurrent  expenses, required for essentials or for miscellaneous expenses at a particular period. While entrepreneurship generally comes with a certain level of risk taking, it is usually wise to manage certain risks as you go along. This is one of the many roles a budget plays in small to large scale businesses. There are many tools available to manage budgeting you can take  a look online for available softwares but we will easily recommend Microsoft Excel as the most accessible of the lot. Understand Business Costs  Regardless of the type of business you're running, there is a cost
CIBN says High Interest Rate Charged Commercial Banks Hinders Business Growth

CIBN says High Interest Rate Charged Commercial Banks Hinders Business Growth

Business, Innovation, Start-ups
The President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, speaking at the 2017 CIBN Graduates Induction and Prize Award in Lagos recently, said that the current high-interest rate charged commercial banks is stifling the growth of businesses. The CIBN he said, was already engaging with different stakeholders to work out modalities of providing an enabling environment for professionals with an entrepreneurial spirit. He said the Institute recently participated at a roundtable organised by the Senate where discussions were held on how to make bank loans more affordable in terms of interest charges. Ajibola, who spoke on the theme: ‘Entrepreneurship Mindset: A Critical Success Factor for the 21st Century Professional’, said that entrepreneur
BoI warns women entrepreneurs against loans diversion

BoI warns women entrepreneurs against loans diversion

Enteprise, Start-ups, Working Woman
The Bank of Industry recently commenced the disbursement of loans to about 1,000 women entrepreneurs in Plateau State, with a warning to them not to divert the funds to other things not contained in the loans’ terms of agreement. The loans, which ranged between N10,000 and N50,000 per beneficiary, were disbursed by the Managing Director of the bank, Mr. Olukayode Pitan, under the Government Enterprise and Empowerment Programme. Tagged ‘MarketMoni Alert’, the initiative is one of the Federal Government’s social intervention programmes aimed at helping micro enterprise operators in the country to bridge the gaps in access to affordable credit identified as a major constraint to business growth. The GEEP, which is being administered by the BoI, seeks to provide non-interest loans r
SV- Immersion Programmes to aid Nigerian companies entrepreneurial experience

SV- Immersion Programmes to aid Nigerian companies entrepreneurial experience

Features, Innovation, Start-ups
United States-based Silicon Valley is set to train the chief executive officers of some Nigerian companies, entrepreneurs and other professionals in human capital development, organisational management, and technological trends. The Chief Executive Officer, Silicon Valley Nigeria Economic Development Incorporated, Chief Temitope Ajayi, who said this, noted that the six-day Immersion Programme would hold in the US. According to her, the training is being organised by SV and SVNED in collaboration with Nigerian Embassy in the US. The training is expected to unveil the secrets of cutting-edge Silicon Valley companies which have thrived by implementing innovative and latest technologies in their businesses. She stated the Immersion Programme would give participants the opportunity ...
Unity Bank, BOI Sign Agreement on SMEs Development

Unity Bank, BOI Sign Agreement on SMEs Development

Business, Enteprise, Start-ups
Unity bank recently entered into a strategic agreement with the Bank of Industry to boost the execution of Government Enterprise and Empowerment Programme (GEEP), one of the social intervention programmes of the Federal Governmentw. The GEEP initiative provides access to affordable micro credit to Nigerian micro business owners who hitherto were unable to access loans to grow their businesses. Under this partnership, Unity bank will provide account-opening services to qualified beneficiaries of GEEP nationwide. These individual bank accounts will serve as channels for beneficiaries to receive loans disbursed by BoI. Beneficiaries will also make loan repayments through these bank accounts. Unity bank will also provide BVN registration services for beneficiaries who require such, there...
Digital Currency Conference Holds in Lagos

Digital Currency Conference Holds in Lagos

Features, Innovation, Start-ups
The first-ever blockchain and cryptocurrency conference in Nigeria will hold in Lagos on August 14 and 15. The event will bring together enthusiasts, practitioners, entrepreneurs, startups and software developers playing in the blockchain and virtual currency community under one roof. According to the facilitator, the inability of the regulatory agencies and relevant authorities to come up with clear road maps and regulatory framework has almost stifled the growth of technology. He noted that elsewhere in Europe, America, Asia, and some neighbouring African countries like Kenya, Rwanda and South Africa, blockchain technology is known to have begun a revolution in the way they transact business. BitPesa is known in Kenya and Uganda, The Sun Exchange and Payfast are known in South...