How To Finance A Business With No Money In Nigeria

Getting your own business has become the direction to go owing to the fact that there are little or no jobs in Nigeria.

You must have heard a lot of people claiming they have got some stunning business ideas with no money to jet it. If you are confident that this will work, why letting few stumbling blocks stop you?

You can improvise, work out the plan, brainstorm and start that hustle you have always dreamed of.

The dilemma has always been whether to leave your current job or face the business squarely. What I always tell people is if you are in doubt, there is no point pushing. The greatest work is done through the mind, and that is the place you should be careful with. However, it is important to carefully work it out and also try to minimize your risks before starting it.

Having a back up plan does not mean you have already lost before it begins. It is making sure you have something to rely on when things do not go well. Not that we hope for that.

But each time we think about going this way, we remember that we do not have enough money to start any reasonable business. Therefore we ask, How can I finance my business with no money?
It is great news that in this article, I will show you how you can start your dream business having little or nothing in your pocket.

Table of Contents

Ways To Finance Your Business With No Cash

1. Crowdfunding

This is a pretty smart way of funding your business. Of course if your business is one that has good vision and achievable mission, people from nowhere can actually help you fund it.

www.kickstarter.com is one of those crowdfunding sites where people who love your business idea can support you with some money to get your business going. Why waiting when you can kickstart that idea now.

2. Attract an Angel Investor

In order to attract an angel investor into your new business, it means your business has a great future. You must also be good and smart in marketing the business idea to the investor; else you might not only lose him, but also your idea.

When pitching your idea, make sure you prove your competency by sharing your past experiences. You must also know in the in-and-out of the business you are selling. Go like a boss you are and convince your potential investors that you know exactly what you are doing.

3. Bet Your Future Earnings

This is another interesting way to finance your business with no money. You can promise your future earning to anyone who is ready to finance you, provided you are sure the business will not take a bad turn. It could be sharing the business profit at an agreed percentage, or giving out the entire profit for some period.

Although nothing is assured but you do not know what could turn up when you try. Take a leap, make that deal, and start the business.

4. Get Your Family and Friends to finance You

The closest people you have are your family and your friends. However, they should be able to support your ventures. Your friends who have the same vision as you can also give you a helping hand in financing your business.

This remains one of the easiest ways to start a business by virtue of the bond you both share. The best part of getting funds through this means is that if it a loan, it usually comes with zero charge. However, endeavour to pay back in time and do not always assume they do not need the money again.

5. Get an SME loan

Well, take a loan is not a healthy way to start a new business. Loan is best used to finance an already existing business. But when one is in such a position as you, looking for ways to finance his business with no money, getting an SME loan could be of help.

You should do a lot of studies on business and be assured of its feasibility. Draw your business plan tactfully and you will not regret your decision.

In developing countries like Nigeria, you are going to find some loan providers like Fairmoney loan and Paylater that are ready to give you the needed funds but the question is will you be able to meet loan basic requirements?

6. Sell Those Properties

Yes, sell your properties! If you really want to start a business that will help your life and that of the people around you, you must take bold steps. The car, home theatre, television, land and just any valuable property can actually give some money enough to start your business when you sell them.

However, I am not always in total support of people who sell their properties unless you do not need them again. You must be asking why? It is pretty obvious that you will never recover the actual amount you brought it if you sell. More reasons why you should never buy anything that is not really needed.

Buying a DSTV when you can not afford the monthly subscription is a very wrong move. Why not stick with Startimes which are way cheaper if you must get one?
This attitude will one way affect your finance. Managing your finances is one way to survive in that business you intend to go into if you are planning on making it a success.

Meanwhile, if you want to sell as fast as it can get, Olist Nigeria provides you with a quick way to sell your properties.

CONCLUSION

These methods are provable methods that have been used by many and it worked for them. But in as much as they worked for others, the possibility of it working for you still depend on how much effort you put towards it. So I advise you do not take it holistically, but apply it technically and you will get to where you want.

It is my belief that at this point, you have been able to gather some knowledge about how you can finance your business with no money; now the business can kick start. If you were confused at any point in this article, do not hesitate to ask your questions. Your contribution will also be appreciated.

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