Why Having an Emergency Fund is Crucial for SME Owners
March 4, 2021

Why Having an Emergency Fund is Crucial for SME Owners

Most business owners do not consider emergency funds to be important. Research has shown that 20% of small business owners believe that their number one challenge in the start-up world is the lack of adequate amount of cash to keep things going. These monetary issues could be tied to limited sales, piling debts, mismanagement of […]

March 2, 2021

Key Business Ratios to Guide the Financial Performance of Your SME

Performance assessment is a huge part of growing a business. Periodically, it is important to assess how far the business is growing or otherwise, particularly in relation to the benchmarks you set or as compared with previous reports. One way to easily assess comparative growth on a company’s financial performance is through ratio analysis. It […]

5 Mistakes To Avoid When Applying For A Business Loan
February 18, 2021

5 Mistakes To Avoid When Applying For A Business Loan

One of the things you must learn to do as an entrepreneur is how to apply for a business loan. Having a great business idea is not all that matters; you must find a way to finance that idea. Capital is the life wire of any business, but raising it can be a huge challenge. […]

February 9, 2021

The Pros and Cons of Equity Financing

Equity financing and debt financing are the two major options for start-ups seeking funding. Debt financing basically involves taking out a loan either from the bank or a private investor, who could be your friend, family, or a stranger. While equity financing, also involves you taking out a kind of loan as indeed you still […]

February 4, 2021

Ways to Manage Credit Obligations to Prevent Default Risk

Understanding credit obligations is key to attracting financial support. Getting financial support through loans is perfectly normal for SMEs. While there is absolutely nothing wrong in taking loans to support business financing, paying these loans back as at when due can make all the difference between the loans working for you and you getting into […]

What You Should Know About Venture Capital Financing
February 2, 2021

What You Should Know About Venture Capital Financing

What is Venture Capital? Venture capital refers to funds which generally come into a company during the pre-IPO process, as investments and not loans. Venture capital investors are often referred to as venture capitalists (VCs). Another name for Venture capital is risk capital because when these investments are made, there is a high probability of […]

February 1, 2021

How to Secure Bank Loans as an SME

Almost every small and medium enterprise can relate to the problem of capital inadequacy. With so many brilliant and marketable ideas, just one thing seems always to be missing – money. In the world of business and financial empowerment, it takes more than ambition and willpower to breakthrough. Essentially, entrepreneurs need to have sufficient cash […]

5 Apps to Help You Get Your Finances Right in the New Year
December 30, 2020

5 Apps to Help You Get Your Finances Right in the New Year

The year is winding up, and you’ve made huge plans for the new year, one of which is to get your finances right this new year. Some of these plans are realistic, and some you know won’t last the first month. As an SME in Africa, planning your finances is key to being successful with […]

7 Tips On Writing Your AGSMEIS Business Plan
December 22, 2020

7 Tips On Writing Your AGSMEIS Business Plan

You need an AGSMEIS Business Plan to get a loan from AGSMEIS. In a previous post, we listed this body as one of the provisions made by the government to support Nigerian SMEs. Writing a business plan can be quite challenging especially when you need to submit it to AGSMEIS. In this post, we will […]

5 Government Agencies that Lend Money to SMEs in Nigeria
December 14, 2020

5 Government Agencies that Lend Money to SMEs in Nigeria

DID you know that you can access capital from government agencies for your SME? SMEs are very important to the development of a country’s economy. This is because they are the largest employer of labour. According to the National Bureau of Statistics, SMEs account for 50 percent of industrial jobs, constitute about 90 percent of  […]

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