Funding is a critical part of every business. Even though experts generally agree that it is not the biggest problem facing entrepreneurs, many of them still believe that it still ranks among the first five.
In line with Start-Up Digest’s mission of identifying opportunities and letting the readers take advantage of them each year, we have presented 10 funding options that Nigerian entrepreneurs can explore to grow their business.
Like everything in life, these funds have criteria that must be met. Most corporate bodies listed here fund already established businesses. Some of them finance business ideas but this is only in very rare cases. It is generally easier to get funding for business expansion than for a so-called exciting business idea, which may or may not turn into a success.
As a basic criterion, you need to have a bankable and viable business plan. The entrepreneur should be clear on where he wants to be in the near future and must also be able to describe the market for his or her products. From experience, lucrative businesses get easy funding than enterprises with few patrons.
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