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Saturday, 27 July 2024
Morning Brief: Bullish years often have rough patches
The money you're looking for is looking for you.
Dear business owners, I just attended a super informative webinar on "Getting Your Business Funded" and I couldn't wait to share the key takeaways with you all! First off, it's crucial to know which stage your business is in. Are you just starting out or are you already scaling up? This will help you determine what kind of funding you need and who to approach. Next thing is, get your documents in order! Make sure you have a solid business plan, financial projections, and a clear understanding of your market. Now, about that pitch deck... Make it count! Showcase your unique value proposition, highlight your achievements, and demonstrate your growth potential. But here's the thing that really stood out for me: having a clear ASK. How much money do you actually need? It's not just about throwing out a random number; it's about doing your homework and knowing exactly how much you require to achieve your goals. And here's the thing: your ASK should be determined by the capacity of the investor. Do your research, understand their investment thesis, and tailor your ASK accordingly. So, to recap: - Know your business stage - Get your documents ready - Prepare a killer pitch deck - Have a clear ASK (and do your homework!) By following these tips, you'll be well on your way to securing the funding your business needs to thrive. Let's get funded, friends!
Trending NewsMAN Urges Exemption of MSMEs from N70,000 Minimum Wage
The Manufacturers Association of Nigeria (MAN) has called for Micro, Small, and Medium Enterprises (MSMEs) to be exempted from the new N70,000 minimum wage due to their financial and operational challenges. READ MORE US Introduces International Entrepreneur Rule (IER) For Non-citizen Entrepreneurs , Global Innovators Seeking to Establish
The United States has launched the International Entrepreneur Rule (IER) to attract non-citizen entrepreneurs, including those from Nigeria, aiming to establish and grow their startups in the US. This initiative seeks to boost the US economy through innovation and job creation by providing foreign entrepreneurs with temporary parole status. READ MORE Nigerian Startups Win $220,000 in NSIA Innovation PrizeThe Nigeria Sovereign
Investment Authority (NSIA) awarded $220,000 to three Nigerian startups at the second edition of its NSIA Prize for Innovation. The winners were chosen after presenting their pitches to an expert panel from the business and technology sectors during Demo Day in Lagos. READ MORE Nigerian Govt Unveils National Clean Tech Innovation Hub for Entrepreneurs
The Federal Government of Nigeria has launched the National Cleantech Innovation Entrepreneurship Ecosystem (CIEE), marking a significant step towards fostering innovation and supporting startups and SMEs in Nigeria. The launch event in Abuja was organized by the Global Cleantech Innovation Programme (GCIP) Nigeria, a UNIDO-led initiative sponsored by the Global Environment Facility (GEF). READ MORE NALDA Set to Launch Institute Of Agribusiness And Entrepreneurship In Six Geo-political Zones The National Agricultural Land Development Authority (NALDA) is set to establish Institutes of Agribusiness and Entrepreneurship across Nigeria’s six geo-political zones. The initiative aims to transform agribusiness into a modern and appealing career path for youth through practical training, specialized curriculum, cutting-edge technology, and entrepreneurial education in agribusiness and agronomic practices. READ MORE AfDB to Boost Funding for Women-Owned Small Businesses to $2 Billion The African Development Bank (AfDB) has announced plans to increase its funding support for women-owned small businesses from $1.7 billion to $2 billion through its Affirmative Finance Action for Women in Africa (AFAWA) initiative. READ MORE Aurora Awards $30,000 to Winner of Women in Tech Competition
The Aurora Tech Award, an international prize aimed at female tech founders and startups, recently highlighted the achievements of five female entrepreneurs during the Lagos Startup Week. In collaboration with inDrive, this initiative aims to bridge the funding gap and promote equality in tech entrepreneurship for women. READ MORE Bank of Industry partners Nasarawa State to Disburse N500 million Loans to Youths
The Nasarawa State government, in collaboration with the Bank of Industry (BOI), is set to disburse revolving loans to a new batch of youths in the state. This initiative aims to support young entrepreneurs and boost economic development in the region. READ MORE Feature ArticlesHow to Achieve Product-Market Fit, by Kelvin Annorson Jr Product-market fit (PMF) is the cornerstone of any successful startup. At its core, PMF means offering a product that satisfies the needs and desires of a particular market. How can you achieve it? Read the details HERE How to start a Permaculture backyard garden by Ojuoluwa Oluwatobiloba Permaculture is coined from two words “Permanent and Culture”. It comprises three ethics and twelve principles that it’s run upon. Find out more HERE Opportunity GaloreCall For Applications: AgriTech4Kenya Innovation Challenge 2024
Are you developing a science-based and tech-driven solution to food insecurity and climate impacts in Kenya? Apply for the AgriTech4Kenya Innovation Challenge 2024. The AgriTech4Kenya Innovation Challenge is a program designed specifically for agri-tech innovators with early-stage solutions that are rooted in, or applicable to, Kenya’s agricultural sector. APPLY HERE Call For Applications: SMEDAN, Kodex Africa SEE Series (Workshop For SMEs in Anambra State)
Do you own a business in Anambra State? Are you interested in exploring technology to make informed decisions for revenue growth? Then, Apply NOW for the SEE Series for small and medium enterprises (SMEs) in Anambra State. Call For Applications: WFP Innovation Challenge (up to US$100,000 equity-free funding)
Are you a problem-solver with a passion for changing lives? The World Food Programme (WFP) is seeking innovative solutions to address global hunger and malnutrition. Join the WFP Innovation Challenge and stand a chance to win up to US$100,000 in equity-free funding to bring your groundbreaking idea to life. APPLY HERE Call For Applications: Climate Change AI Innovation Grants 2024 (Up to $150,000)
Can your AI idea combat climate change? Apply for the Climate Change AI Innovation Grants and win up to $150,000 to turn your vision into reality. We're seeking groundbreaking solutions to our planet's biggest challenge. Ready to make a difference? APPLY NOW! Call For Applications: Innovate Africa Fund (Up $2.5 Million Funding)
Are you a visionary entrepreneur with a solution to Africa's challenges? The Innovate Africa Fund is seeking high-potential startups to invest in. Ready to make a difference? APPLY HERE! Call For Applications: Agri-SME Program Seed Lab For Africans
Is your agribusiness ready to scale? Join the Agri-SME Program Seed Lab and unlock your business's full potential. Get expert guidance, network with industry leaders, and access valuable resources to boost your growth. Limited spots are available! APPLY NOW Entrepreneurial OriginsLast week's trivia What is the name of the Pan African network that facilitates networking opportunities for business angels, entrepreneurs, and start-ups? A) African Business Angel Network (ABAN) B) African Entrepreneurship Network (AEN) C) African Startup Network (ASN) D) African Innovation Foundation (AIF) Today's Trivia What is the name of the popular African startup accelerator program that provides critical skills training, funding, and support in software development, business, and communications to Africa's tech entrepreneurs? A) YCombinator B) 500 Startups C) Techstars D) Meltwater Entrepreneurial School of Technology (MEST) MSME Africa Tip of the WeekLeverage Mobile Payments for Business Growth Mobile payments are transforming the African market. As an entrepreneur, harnessing this technology can significantly boost your business.
By integrating mobile payments into your business strategy, you can increase sales, enhance customer satisfaction, and gain a competitive edge. Till next time Ododoola, MSME Africa MSME Africa Pulse is free today. But if you enjoyed this post, you can tell MSME Africa Pulse that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments.
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