Finance over d yrs n 4rm research has bin 1 of d major problem fightin against d development of medium n small scale businesses in nigeria. Start up capital has kill d dreams of great business idea. Whenever d idea comes d first issue is to calculate d start up capital n once its beyond our immediate current savings n financial reach we ll rule it out n look 4 another wit less start up capital. Some research ll outline source of capital for small scale business 2 include but nt limited 2 family n friends, personal savings, gift, loan from friends husband or wife, micro finance bank commercial banks corperate society etc bt in reality most of dese financial institution dnt jst giv loan witout a guarantee dat dey ll get deir money back. Micro finance bank ll require u 2 hv a savings account wit dem n maintain it 4 up 2 six months or a yr n save up to half d amount u want to borrow as loan ( but is it possible to save without a source of income? No becos savings is a factor of income n investment is a factor of savings. So if u dont earn income u cant save n if u dont save u cant invest) before you r given loan. Commercial banks ll require u to write a proposal (but how many business minded men n women can write a good proposal?) if ur proposal is not good enough u wont get the loan a team of expert on investment n small scale business ll sit down to scrutinize ur proposal. the most important thing they ll check wen checking tru ur investment proposal ll be to look at how possible it is to get their money back from your proposed business/investment nothing else cos they r only interested in their profit as business men n women. So u can imagine? Now wat about loan from friends? It is now a no go area as a result of troubles that goes wit the process of borrowing since after borrow some ll refuse to payback others ll fight. Wat about family most family these days dnt care about deir loved ones so ll ask their gate man to tell u dey r nt around. Wat has d future hold 4 small scale business in nigeria?
Posted on: Tue, 18 Mar 2014 12:27:31 +0000
Trending Topics
Recently Viewed Topics
© 2015