One of the greatest challenges you will experience as an owner of an SME in Africa is finding money to run your business. Whether it is renting an office space or purchasing the necessary equipment, you will need some money to get your business running. According to a recent report, more than 94% of new […]
Many small business owners are often caught up with the day-to-day operations of their businesses, the quest to break-even, as well as the pursuance of grand strategic goals. However, such big pictures are defined by basic units of performance that can be tracked and improved on a day-to-day basis. The performance of a business can […]
Debt can be helpful financial sources both at a corporate or personal level. Debt in the form of a business loan, business credit card, or line of credit can be strategic means to finance a business and to undertake vital operational tasks such as hiring the best hands, purchasing necessary infrastructure, financing growth strategies and […]
What do you know about loan apps? The major challenge for most SMEs in Nigeria is access to funds. The entire process of obtaining bank loans can also be tedious, especially if you don’t have the necessary loan requirements. It could take months unending, and this can be frustrating for many business owners. Are you […]
The idea of taking a business loan is often quite scary. Unfortunately, successful SMEs in Nigeria understand that taking periodic business loans is an undisputed aspect of owning a small business and one of the most difficult decisions an SME owner will face. Whether you’re aiming to grow your business exponentially or just to keep […]
Following the outbreak of the coronavirus pandemic, several households and MSMEs were adversely affected. Global supply chains were greatly disrupted, leading to severe consequences on households’ livelihood and business activities. To manage this crisis, the Central Bank of Nigeria (CBN) introduced the N50 billion Targeted Credit Facility (TCF). This credit facility’s sole purpose is to […]
Accessing financial support either in form of a grant or loan is one of the challenges that most SMEs in Nigeria face. Small businesses need financial support for various reasons ranging from raising business capital to expanding it. Typically, if your business has less than 500 employees, it is regarded as an SME. So, if […]
If you are an SME owner in Nigeria and you don’t know about NIRSAL, you are missing a lot. This body presents SMEs in Nigeria with so many benefits. In this post, we will discuss NIRSAL, its mission and vision, its benefits, and how to get loans from them. About NIRSAL NIRSAL is an acronym […]
Why should SMEs get loans? The truth is that Small and medium enterprises (SMEs) play a big role in the economy. Although these SMEs grow in numbers, there are major setbacks such as lack of adequate capital and funding. As a business expands and gains a competitive advantage, the existing capital may not be enough […]
Just like you, many business owners need bodies that offer loans without collateral. Are you thinking of expanding your business and establishing a broader market presence to boost your brand and sales? Then it must have occurred to you that you need capital to carry out that expansion. There are various ways you can raise […]
