Freelancing has gained notable participation over the past few years especially due to its flexibility and the vast options it presents. By all indications, this participation will grow even further in coming years. Going by recent research by statista, the U.S. alone currently has about 64.8 millions freelancers — a number which is projected to reach 86.5 million by 2028.
This largely implies that competition within this gig economy will intensify as the years progress. The growing number of freelancers will open multiple doors of options (which may not necessarily be better ones though) to employers. Since there will be…
Nothing more is important in any business than having the funds to run it. While the dream to launch a business can be beautiful and projection near perfect, implementation is a different story entirely. Funds are necessary to keep this dream alive among other factors. We have compiled a list on funding opportunities accessible in Nigeria:
Grants are a form of financial assistance given by international bodies, government agencies, corporations or foundations to fund projects that are of specific interest. Unlike loans, they are not expected to be repaid. Grants are a viable source of funding businesses.
Given the statistics of businesses that fail one year into operations, the first year may likely be the most challenging for entrepreneurs. There is the reality of starting a business as opposed to the fantasy of a written business plan, the challenges of maintaining operations amidst global outbreak and the task of keeping cash flow positive despite setbacks amongst others. As challenging as surviving the first year in business could be however, it can be successful in the end.
Here are some tips to scale you through your first year in business:
Much of the downtime entrepreneurs experience…
Given the numerous fundraising options, such as angel investment, investor capital, grants, accelerators and incubators funds, available to SMEs in Nigeria, the story seems not to change. Access to funds remains a major cause for SMEs’ failure in Nigeria. Of the 40% of SMEs that manage to transcend mere dreams to reality, only 20% survive as studies from the UN Industrial Development Organization Investment and Promotion Office in Nigeria shows.
Jenna Abdou, a FORBES contributor noted that, “the investment decision is not solely an investor’s as many would believe but the founder’s”. …