Put all your eggs in one basket
MSME AFRICA
Africa's leading news and resources platform for Micro,Small and Medium Enterprises
Dear entrepreneurs,
I'm sure you're wondering what I mean.?
Just kidding, What I wanted to say is don't put all your eggs in one basket!
Are you relying too heavily on a single funding source? This can be a recipe for disaster. If that source dries up, your business could be in serious trouble.
That's why it's important to diversify your funding sources. Apply for Grants! Surprisingly, many business owners aren't taking advantage of this free money. Now, I know what you're thinking: "But I'm not a great writer"?
Well, let's face it – Applying for grants can seem daunting, especially if you're not a seasoned writer. However, with diligence and attention to detail, you can master the art of grant writing.
?Clearly articulate your business vision, goals, and impact. Ask mentors, friends, or professionals to review your application. Practice makes perfect too! Don't be discouraged by rejection – use it as a learning opportunity.
Lastly, Don't wait until the last minute; give yourself time to craft a solid application. Monitor application status and respond promptly to additional requests.
At MSME Africa, we've got you covered! Our website is updated daily with new grant opportunities. Don't miss out! Check it out today:LINK
Here’s what I have for you today:
Trending News
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Nigerian fintech startup Lendsqr has introduced a new on-lending initiative, providing up to ?1 billion in capital to help digital lenders expand their credit offerings. This initiative aims to empower lenders with State Moneylender or Cooperative licenses, enhancing their ability to offer loans to customers while promoting financial inclusion. READ MORE?
Madica Invests in Nigerian Climate Tech Startup Earthbond to Boost Solar Energy for SMEs
Madica, an investment program focused on African pre-seed startups, has announced its investment in Earthbond, a Nigerian climate tech startup providing affordable solar energy solutions to small and medium-sized enterprises (SMEs). READ MORE?
TotalEnergies to Invest in Bonga North Offshore Project, Expanding Nigerian Offshore Operations
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AfDB Approves $100 Million for Youth Entrepreneurship Investment Bank in Nigeria.
The African Development Bank (AfDB) has approved a $100 million investment to establish Nigeria's Youth Entrepreneurship Investment Bank. READ MORE?
Nigeria Launches Export Skills Acquisition Centre to Boost Fashion E-commerce and Non-Oil Exports
The Federal Government has unveiled the Export Skills Acquisition Centre (ESAC) in Apapa, Lagos, aimed at positioning Nigeria to capitalize on the country’s booming fashion e-commerce market, projected to hit $422.8 million by 2024. READ MORE?
Unilever Empowers Over 13,000 Women Across Nigeria Through Shakti Initiative
In a continued effort to create a positive social impact, Unilever Nigeria has empowered over 13,000 women across 21 states and the Federal Capital Territory (FCT) through its Shakti initiative. The program, implemented in partnership with the Growing Businesses Foundation (GBF), equips women with the tools, training, and mentorship they need to become independent entrepreneurs, selling Unilever products to support their families and communities. READ MORE?
NDDC Deposits N30 Billion to Boost SMEs in 9 states
The Niger Delta Development Commission (NDDC) has deposited N30 billion in the Bank of Industry to support the growth of small and medium enterprises (SMEs) across the nine states of the Niger Delta region. READ MORE?
Opportunity Galore
Call For Applications: Google for Startups Growth Academy: AI for Cybersecurity 2025 for Seed to Series A startups.
Are you a seed to series A startup with a focus on cybersecurity? Get ready to level up your AI game! Google for Startups is offering a unique opportunity to join the Growth Academy: AI for Cybersecurity 2025. This exclusive program is designed to equip you with the tools, knowledge, and connections needed to drive innovation and success in the rapidly evolving world of AI-powered cybersecurity. APPLY NOW?
Call For Applications: African Export-Import Bank (Afreximbank) Group Internship 2025 (A monthly tax-free stipend of $800 and housing allowance of $400)
Are you a dynamic and motivated student looking to gain valuable hands-on experience in international finance and trade? The African Export-Import Bank (Afreximbank) is offering a unique opportunity to join its internship program in 2025. As an intern, you'll receive a monthly tax-free stipend of $800 and a housing allowance of $400 while working alongside experienced professionals in a dynamic and supportive environment. APPLY TODAY?
Call For Applications: Fast Forward Venture Fund for Nigerian Livestock Startups ( Up to $100k cash)
Are you a Nigerian startup revolutionizing the livestock industry? The Fast Forward Venture Fund is seeking innovative and promising ventures to support. With up to $100,000 in cash funding available, this opportunity could be the catalyst your business needs to scale and make a significant impact. APPLY HERE?
Call For Applications: Federal Government TecHERdemy Skills Training 2024 For Nigerians
Looking to upskill and gain in-demand tech skills? The Federal Government of Nigeria is offering free TecHERdemy training programs to Nigerians in 2024. This initiative aims to equip citizens with the knowledge and abilities needed to thrive in the digital age. APPLY NOW?
Call For Applications: Bloomberg Africa Startups to Watch
Are you a high-growth African startup making waves in your industry? Bloomberg is searching for the next generation of African tech leaders to feature in its annual "Startups to Watch" list. If your company is driving innovation and making a significant impact, submit your application today for a chance to gain global recognition. APPLY HERE?
Call For Applications: FirstBank Fintech Innovators Challenge 2024
Are you a fintech startup with a vision to revolutionize the financial services industry in Nigeria? FirstBank is inviting innovative companies to participate in its Fintech Innovators Challenge 2024. This competition offers a unique platform to showcase your groundbreaking ideas, connect with industry leaders, and potentially secure significant funding. APPLY NOW?
领英推荐
The Entrepreneur’s Quiz
What is the term for the process of raising capital from a large group of investors, often through online platforms?
A. Venture Capital
B. Crowdfunding
C. Angel Investing
D. Debt Financing
What is the answer?
Last Weeks Questionnbsp;
Which type of business structure is owned and operated by one person?
A. Corporation
B. Partnership
C. Sole Proprietorship
D. Limited Liability Company (LLC)
The correct answer is:
C. Sole Proprietorship
A Sole Proprietorship is a business structure owned and operated by one individual, where the owner has unlimited personal liability for the business's debts and obligations.
Here's why the other options are incorrect:
A. Corporation: A separate legal entity with multiple shareholders, not owned by one person.
B. Partnership: A business structure with two or more owners, sharing profits and liabilities.
D. Limited Liability Company (LLC): A hybrid structure providing liability protection, but can have multiple owners (members).
Key characteristics of a Sole Proprietorship:
1. Single owner
2. Unlimited personal liability
3. No separate legal entity
4. Simple tax reporting (personal tax return)
5. Easy to establish and dissolve
Example: Freelancers, consultants, small service-based businesses often operate as Sole Proprietorships.
Today's Question?
What is the term for the process of raising capital from a large group of investors, often through online platforms?
A. Venture Capital
B. Crowdfunding
C. Angel Investing
D. Debt Financing
What is the answer?
Fun Facts about Entrepreneurship
40% of small business owners work over 60 hours per week.
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Till next time
Ododoola, MSME Africa?