Bank of Industry Launches N1billion SME Fashion Fund for Women Entrepreneurs to Boost Production of Made-in-Nigeria items

Bank-of-Industry-Launches-N1-Billion-Fashion-Fund-1

As a Business Development Service Provider to Bank of Industry, W-HBS is all set to work with Nigerian designers seeking funds for expansion through the recently launched the N1 Billion Fashion Fund to support women-owned Small and Medium Enterprises (SMEs). The Fashion Fund joins two other SME funds (the N5 Billion Cottage Agro Processing Fund and the N1 Billion Nolly Fund) by BOI and offered as part of our FINANCE solution for SMEs. 

 

The Role Of Credit Bureaus In Increasing Access To Finance For Micro, Small and Medium Enterprises

CBAN-NASME Fact SheetThe role of entrepreneurs and entrepreneurship is vital to any economy, with its benefits including job creation, increased productivity, increased revenue, wealth creation and inclusive growth.  In many developing economies, Micro, Small and Medium Enterprises (MSMEs) account for the larger majority of businesses in the country with significant reliance on them for economic growth. Despite their strategic position and role in the economy, access to Finance has continued to constitute a major challenge. In advanced economies, Credit Bureaus help consumers and small businesses obtain financing by offering timely, credible and objective information on borrowers, allowing financial institutions reduce loan processing time and cost by 25% or more, while equally cutting default rates by 40%-80%. These savings, no doubt, can mean lower interest rates, making credit more affordable and available to those in need. In line with its vision of "Credit information for wealth creation" the Credit Bureau Association of Nigeria (CBAN) in collaboration with Nigeria Association of Small and Medium Enterprises (NASME) organised a one-day  Public-Private Dialogue (PPD) on The Role of Credit Bureaus In Increasing Access To Finance For Micro, Small and Medium Enterprises in Nigeria.  

Survive and Thrive

Ideas Structure Capital Tough Times Never Last, But Tough People Do. This is one of the best quotes I have come across, and comes courtesy of Robert Schuller, an American televangelist, pastor, and author known worldwide through his weekly Hour of Power television service.  ...and this quote could not be more pertinent to entrepreneurs in running their businesses and raising capital. Consider this story... In 1999, two students rented a garage in California to start their company. As luck would have it, the owner of that garage was a college friend of David Cowan, a partner at Bessemer Venture Partners, who Forbes magazine listed among the world's top 10 venture capitalists. So the odds for this company started looking pretty good at this point, right? Wrong.  

Sample Business Plans – A Capital Raising Failure Trap

Success or FailureI recently conducted an analysis of the reasons that had prompted visitors to our website. Several of the results were typical such as statements like: "I need to develop a business plan" and "I'm looking for capital for my business" were the high scorers. Another result, however, appeared way too often is one that nearly unequivocally results in the failure of capital raising efforts: "I'm looking for a sample ________ business plan." The blanks were filled-in with business types ranging from fish farm, furniture manufacturing, food processing, event centres, daycare centres, table water manufacturing, fast food restaurant, laundry and dry-cleaning services, industrial cleaning, car wash - and everything in between. Were W-HBS to give a sample business plan to all of these companies, it could be great - since it would effectively weed those companies out and give the rest of us less competition in the capital raising game. Simply put... Sample business plans do much more harm than good to businesses seeking capital and/or to grow.  

Think Your Biggest Challenge Is Access To Finance? You Are Wrong!

Access to TalentIn November 2013,  the Growing SMEs event was held in Kigali, Rwanda, where entrepreneurs, investors and industry experts discussed the issues surrounding starting and growing a business. The event – hosted by the Rwandan Development Board, JCI Rwanda and Dutch-based NGO BiD Network – saw entrepreneurs from Rwanda, Burundi, Liberia, Uganda, Tanzania and Kenya present their businesses to investors and seek advice from experts. Randall Kempner is the executive director of the Aspen Network of Development Entrepreneurs (ANDE), a global network of organisations that propel small business entrepreneurship in emerging markets. At the event he asked all the entrepreneurs to stand. “Now, please stay standing if you think access to finance is your biggest challenge,” asked Kempner. While a few entrepreneurs sat down, the large majority remained standing. “I think you are wrong,” said Kempner. “Let me try to explain why. ANDE looks at emerging markets all around the world and we hear all the time that the biggest issue [entrepreneurs face] is capital. And we think it is an issue but we think there are two other access issues that are even more important. The first is access to talent. The second is access to markets, and third is access to capital.” Many entrepreneurs view access to finance as their biggest limitation in business, but finding investors willing to fund their business is even more difficult if they have a poor team, do not understand their consumers, and do not know how to get their products to market.  

How To Grow Your Business In 2014 – Planning Is Easy, Execution Is The Challenge

NEW-YEARS-QUOTE-300x226A vision without a plan is just a dream, a plan without a vision is just drudgery, but a vision with a plan can change the world.....

-- Old Proverb

The need for planning cannot be overemphasized and I'm sure as an entrepreneur you have developed a Business Plan for your business. If you have not gone through the planning process, especially at the beginning of this year then you need to drop all that you are doing now and plan. The truth however is that planning is the easy part, execution is the major challenge. Every entrepreneur plans (even if its just in their minds!), but implementation is always the problem, hence business growth is stifled.

 

Getting Employee Buy-In To Improve The Bottom Line For Philly and Mools

Philly and Mools GroupPhilly & Mools Group is a privately owned company managed by a group of young and enterprising individuals. From its humble beginnings as an Automobile dealership in 2006, the Philly & Mools Group has thrived to become an exceptionally successful conglomerate with a multitude of established businesses in high-growth areas of the Nigerian economy. What sets Philly and Mools Group apart from the rest is its ability to forge strong partnerships across various industry sectors, innovative product and service development and our team of experienced individuals who all share a  common niche for excellence.  

From Idea to Reality – Celebrating Metro Taxi

Transportation in Lagos State is a catalyst for growth if Lagos must attain its ambition of becoming a global destination of choice. It is common knowledge that Lagos has witnessed a population explosion in the last two decades. Our idea of a taxi service that will change the face of transportation in the State (and indeed Nigeria) is one built on transparency of fares, this offers unrivalled value for money spent by customers. This was the dream behind the establishment of Metro Taxi. The project was not only successful for Metro Taxi, but also fun for W-Holistic Business Solutions. It's great to work in our local community and everyone on our team feels a sense of pride seeing the Metro Taxi logo whizzing around town.   

Bringing Back Our Mother Tongue With the Ijapa Folktales

Blazing Ideas

Following the completion and illustration of three book titles (in three indigenous Nigerian languages – Yoruba, Igbo & Hausa) to provide a comprehensive means of building Language and Phonetic skills in Children and Adults through story telling (books & audio CD), the founder required funds to publish the initial copies from China.  

Sierra Leone’s Road To Change

Tee-Marc

  Tee-Marc Construction won a Design and Build 23km township road construction contract in the Republic of Sierra Leone. The management of Tee-Marc Limited required a 90-day tenor short-term loan to mobilise to project site.