Starting a business is really expensive in any country...Getting capital to start a business can be the end of any business, even before you start. The thing that makes starting a business more frustrating is that your initial estimate of your capital requirement is usually much lower than what your business really needs when you get started.
The fact of the matter is that getting funding for early stage business in Nigeria is incredibly hard. Funding options are limited.
What are the limited options to get your hand on cool Naira for your business? Well, follow on and I will tell you.
Self-Financing: In any early entrepreneurial scenario in any country, your first source of funding is personal. Yes, your personal bank account should be the first place you look for funding for your capital. The logic is simple. If you as a business owner are not willing to take the risk of investing in your business, why should any one else? The problem with this scenario is that it creates problems of it own. A lot of people who could benefit from starting up a new venture, e.g. the unemployed or under-educated, don’t have the deep pocket required to fund their own business. So, if your bank account is closer to null than a billion, where do you go?
