Business is the best getaway plan, especially after the first wave of the global pandemic that led to the launching of some entrepreneurship funding opportunities by the government.
Tougher when you dare to excel in business without capital; but it gets “tough” when the right support is provided. Of course, you are aware of the major factors to be considered before starting a business, such as;
- Developing the Vision and Business Idea.
- Assembling a Business Team.
- Raising Capital for your Business.
- Finding the Right Business Location.
- Finding Good Employees.
- Finding Good Customers.
- Dealing with Competition.
- Unforeseen Business Challenges and Expenses.
Personally, everything listed above connects to “raising capital. ” You need the services of an expert to develop a professional business plan, find the right location, hire and train members of staff, and other factors which are connected to MONEY.
“Money” “Money” “Money”
Now here is why this article should be taken seriously. There are a lot of programs, some sponsored by the government, and private organizations, that have taken the burden to sponsor SME’s and that is part of the reasons this post was made.
Below Are 7 Business Funding Opportunities You Should Look Out For In 2021
10.) Trader – Moni
TraderMoni is a loan program of the Federal Government, created specifically for petty traders and artisans across Nigeria. It is a part of the Government Enterprise and Empowerment Programme (GEEP) scheme of the Federal Government, being executed by the Bank of Industry.
9.) CBN COVID – 19 LOAN
The Central Bank of Nigeria (CBN) recently announced the addition of NGN 50 billion ($120 million) to its Targeted Credit Facility, a stimulus program for micro-, small and medium-sized enterprises (MSMEs) as well as households affected by the pandemic.
The funding will be disbursed through NIRSAL Microfinance Bank, which is minority-owned by CBN’s Nigerian Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL)
8.) SEDAN LOAN
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) was established by the SMEDAN Act of 2003 to promote the development of the MSME sector of the Nigeria Economy.
7) The Lagos State Employment Trustfund MSME program.
The LSETF Loan Programme aims to create affordable access to funding for small businesses to grow, expand, create wealth and put people to work. The loan scheme, which attracts only a 5% interest rate per annum, is available to business owners who are registered residents of Lagos State.
6.) The Anzisha Prize.
The Anzisha Program is a partnership between African Leadership Academy and Mastercard Foundation that seeks to fundamentally and significantly increase the number of job generative entrepreneurs in Africa. We believe that a key to doing so is to test, implement and then share models for identifying, training, and connecting high potential, very young entrepreneurs (15 to 22-year-olds) so that many more organizations have better collective success in creating a pipeline of entrepreneurs with the capabilities for scale.
5.) Tony Elemelu Foundation Entrepreneurship Programme.
The Tony Elumelu Foundation is the leading champion of entrepreneurship in Africa. Our objective is to empower women and men across our continent, catalyzing economic growth, driving poverty eradication, and ensuring job creation. We believe the private sector’s role is critical for Africa’s development and that the private sector must create both social and economic wealth.
Founded by African investor and philanthropist, Tony O. Elumelu, and representing his personal commitment to creating a new generation of entrepreneurs, through his investment company, Heirs Holdings, the Foundation is active in all 54 African countries.
4.) Grofin Fund.
GroFin is a specialist, impact-driven SME financier. We help entrepreneurs succeed by providing them with business loans and business support (expert advice and continuous guidance) to grow their businesses. We believe that a growing SME sector that creates sustainable jobs is the most powerful driver of social and economic development that truly improves people’s lives.
Headquartered in Mauritius, we offer financing and support to SMEs in 14 countries in Africa and the Middle East. GroFin is supported by 34 international finance institutions, development organizations, and private funders who have committed nearly $535 million in capital to our funds.
3.) Orange Corners.
Orange Corners is managed by the Netherlands Enterprise Agency at the
request of the Dutch Ministry of Foreign Affairs. We work closely together
with the Embassy of the Kingdom of The Netherlands and local partners
in each program country.
2.) The African Women Development Fund
The African Women’s Development Fund (AWDF) is a Pan-African grant-making organization that supports the realization and fulfillment of African women’s rights through funding autonomous women’s organizations on the continent.
Since its inception in the year 2000, AWDF has awarded grants of US$41.7 million to over 1,300 women’s organizations in 46 countries in Africa and the Middle East.
1.) Shell Livewire Nigeria
LiveWIRE Nigeria is a youth enterprise development program supported by The Shell Petroleum Development Company of Nigeria Limited (SPDC). The program operates in the Niger Delta region and aims to inspire, encourage and support young people aged 18-30 to start up their own businesses in the Nigerian states of Edo, Delta, Bayelsa, Rivers, Abia, Imo, and Akwa-Ibom.
Each year, Shell LiveWIRE Nigeria provides training and finance for young entrepreneurs in the Niger Delta to set up and grow their businesses. Shell LiveWIRE is a social investment program that aims to help young Nigerians between the ages of 18 to 35 explore the option of starting their own business as a viable career option and thereby create employment.
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