If there is one thing spending time and working in Nigeria has taught me, it is that many Nigerians have lots of ideas and are enthusiastic about bringing them to fruition. But, one major challenge these eager entrepreneurs face is the need for more funding for their brilliant ideas. Knowing what you want and having a plan to execute it is one thing. It is another thing to have the actual capital to make it happen.
To help entrepreneurs find the resources they seek, we at Joadre Tribe have curated a unique feature in our tribe app called “Funding”. Citizens of the App, meaning paying subscribers, can access the funding page where we list up local, national and international funding. Every month, we update this feature with new funding opportunities. However, we urge you to go to the internet and research any funding you see on our platform.
Many funding programs are created for a specific time frame, and if that program gets renewed, the criteria might change or not. Here are some steps you should take when you have read through our funding list and information:
- Google for more information
- Study administrative criteria
- Check your ideas
- Adapt your idea
- Create your plan
- Gather all documents
Google for more information
Go online and google that particular fund using the name we placed it on our funding page.
Study administrative criteria
Read through the criteria CAREFULLY. We emphasise this because each funding program has its own rules. Ensure you meet the administrative criteria before venturing into refining your idea. Some administrative criteria demand you have a registered company. Learn how to create your company in Nigeria. Some might require you to find partners.
Check your idea
Now, check your current project ideas or business and see how it fits the demand of the funding program. Commonly, your idea might not fit a hundred per cent because these funds are created to reach a broad range of target audiences.
Adapt your idea
It is time for idea adaptation because the programs would not revise their funds to suit your idea. You have to modify your idea to suit the funding requirements.
Create your plan
Create your project plan or business plan. While you create this plan, consider all the questions the funding program asks. Note that many programs have their own application where you can find the questions. Please follow the business plan structure and add the extra questions from the funding program to complete your plan. WHY? Often, even if you successfully apply, you might be required to submit more information or documents previously not requested. With your own plan, you would have basically answered all loopholes.
Gather all documents
Now that you have gone through the first 5 processes gather all documents you will need to apply. Now, this is where many people make a mistake. Many funding programs come with a deadline. Your application to document submission must be within this deadline, so ensure you submit your application on time. Are you a last-minute person? Nope! Drop that.
Check out 4 funding for African businesses >
Connect with us, and get our app.
We hope you got value out of this article. Let us know how we can support you and share your results with the TRIBE. Follow us on our social media – Instagram, Facebook, TikTok, Linkedin, Twitter, and YouTube. It is time to own your life. We created our Tribe platform to empower African students and Savvy entrepreneurs looking to start a business. Get the TRIBE App here at https://tribe.joadre.com. Sign up for our newsletter here for our monthly mail. If you wish to contact us, use our contact form or the contact menu in the TRIBE app.
Thank you for reading to the end.
Cheers
Joadre
