Friday, September 20, 2013

ENTREPRENEURSHIP

BECOMING AN ENTREPRENEUR
I have a business plan but the only problem i have at the moment is i don't have capital to kick off my business. What should i do?
To get finance to facilitate your business, you need to first consider how much you need to start your business. 
If what you need is thousand of naira you need to consider COOPERATIVE SOCIETY,
If you need cash from N1m,$6,500 and above you need to contact BANK OF INDUSTRY, every country have the above organizations in place. Never ask for loan from conventional bank because the interest alone can kill your business. Conventional Bank is primarily meant for saving. In the recent time Bank of Industry and cooperative society charge about 9 percent while conventional bank charge about 25 percent. This is outrageous and it will definitely kill your business. It is believed that in the first one to two years of business, the business is mediating between break even and normal profit. So if a business is overcharge within the first two years of business, such business will not stand the test of time.  

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