It is not news that every new business venture is looking for money to get started.
Even the well established organizations are on the lookout to get funding to scale their businesses to the next level.
However in Nigeria, one of the easiest and cheapest ways to get funds for your business is by applying for small business grants.
But unfortunately, there aren’t actually that many Nigerian federal or provincial government grants available for small businesses.
Unlike business loans, grants don’t need to be repaid, so there’s no worry over term length, interest rates, APR, or refinancing.
You just need to qualify and get the free money. Lucky you!
In this post I shared tips about business grants in Nigeria and outside Nigeria organized by government and private individuals.
Below is the list….
1. Tony Elumelu Entrepreneurship Programme (TEEP).
The Tony Elumelu Entrepreneurship Programme (TEEP) is a yearly programme launched by one of Nigeria’s business tycoon Mr. Tony Elumelu via Tony Elumelu Foundation (TEF).
The program launched in 2015 and aimed at providing 10,000 USD seed funding for entrepreneurs across Africa.
Every year, the programme selects 1,000 entrepreneurs across Africa from a pool of over 50,000 applicants.
Each application is carefully reviewed by business experts in the industry and winners are selected based on market feasibility, clear financial models and a capable team to run the business.
Each program cycle begins with an application process opened from January 1st until March 1st.
This simply means that the application is ongoing. So try your luck!
To register for this click https://www.tefconnect.com/
You may need some tips on how to fill the form to win the grant. Feel FREE to listen to the audio done by one of the alumni Babatunde Hakeem Lawal (BHL). To do that, click http://bhl.strikingly.com
For professional guide on how to fill the form and a FREE PDF book that will show you the full details of what it’s required to win the grant. Click Here
2. Lagos State Entrepreneurs Trust Fund (LSETF).
The Lagos State Employment Trust Fund (LSETF) was established by The Lagos State Employment Trust Fund Law 2016 to give financial support to residents of Lagos State, for job, wealth creation and to tackle unemployment.
LSETF serves as an instrument to inspire the creative and innovative energies of all Lagos residents and reduce unemployment across the State.
The Fund has the mandate to directly invest ₦25 Billion in helping Lagos residents grow and scale their Micro Small and Medium Enterprises (“MSMEs”) or acquire skills to get better jobs.
LSETF is committed to financially support a target of 100,000 MSMEs by 2019, creating 300,000 direct and 600,000 indirect jobs as a result.
This likely to start before ending of January. The date is yet to be announced. So watch out!
For more details, visit https://lsetf.ng/
3. P-YES- Presidential Youth Empowerment Scheme
The Federal Government of Nigeria has launched another youth empowerment programme called P-YES.
The full meaning of P-YES as indicated above is Presidential Youth Empowerment Scheme.
The scheme is structured as a Public Private Partnership (PPP) initiative driven by the Office of the Senior Special Assistant to the President on Youth and Students Affairs (OSAPYSA).
The program is targeted at providing solutions to the challenges of youth unemployment, through the execution of direct empowerment initiatives.
P-YES beneficiaries will be trained and empowered on certain areas of vocations and businesses
Ready to apply? Visit the application page or go straight to link http://p-yes.gov.ng/
4. British Council and VET Toolbox
British Council and VET Toolbox Call for Proposals: Innovative Strategies and Approaches to Improve Employment Opportunities through VET
The deadline is 15th February 2019. You still have time of course.
British Council and VET Toolbox have launched an EU-funded call for proposals to fund innovative and inclusive initiatives that improve employment opportunities in the formal and informal labour market for disadvantaged and vulnerable groups through vocational education and training (VET).
Activities they fund shall be innovative, entail an up scaling potential, be cost-effective, sustainable and show local ownership.
Minimum EUR 250,000 and maximum EUR 400,000 to be spent over 18-24 months.
- The lead applicant must be a non-state actor and non-profit making actor.
- The co-applicant(s) can be for-profit institutions (grant must not raise profits) and/or public-sector institutions, authorities and organisations.
- The lead applicant must act with at least one co-applicant(s). One of them must be legally established and registered in the country where action takes place.
- For more information, please visit https://www.britishcouncil.org/education/skills-employability/what-we-do/vet-toolbox-call-for-proposals
5. Africa Energy Innovation Competition
The 4th Energy Innovation Challenge is set to upscale the development of early-stage energy firms across Africa.
Across Africa, the main energy challenge is to rapidly deliver modern energy services to millions of households and businesses using sustainable and affordable energy technologies.
This competition challenges early-stage energy entrepreneurs from Africa to collaborate with local research institutions or industries to develop practical and sustainable energy products/services/prototype models for a social enterprise or energy management system using local resources.
PRIZES AND RECOGNITION
- The finalists and winners will be selected by a panel of academics and experienced development professionals from public and private sector institutions. Winners of the competition get the opportunity to:
- Pitch their proposed solution/service/prototype model at the 2019 Nigeria Energy Forum, in Lagos, Nigeria, using a poster and short 2-minute video.
- Benefit from unique networking opportunities with other young leaders as well as some of the most senior decision makers in government, international development, academia, and the private sector.
To apply for this visit the link below
6. GroFin Fund
GroFin is a pioneering development financier specializing in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East.
GroFin combines patient capital and specialized business support to grow emerging market enterprises.
GroFin Focus on Small and Growing Businesses (SGBs) that are grossly underserved by other funds or financiers.
Delivers a unique integrated solution for patient risk capital and end-to-end business support to start-up and growing businesses at the SME base.
GroFin has fund size of US $100+ Million to funding Nigerian micro, small and medium business (MSMEs) across the country.
To be eligible:
- Your business operates in one of the following countries: Nigeria, Ghana, Zambia, Egypt, South Africa, Kenya, Tanzania, Rwanda, Uganda.
- Your business is for profit.
- Your business has a turnover of less than US$ 15 million and assets less than US$ 6 million.
- You require financing between US$ 100,000 and US$ 1.5 million.
- The business is owner-operated and/or the owner is substantially involved in running the business.
To apply for finance click http://www.grofin.com/language/en/apply/
7. The United States African Development Foundation (USADF)
Are you from Kebbi State? Lucky you!
The U.S. African Development Foundation (USADF) in collaboration with Kebbi State Government (KBSG) invites African cooperatives, producer groups, and enterprises to submit proposals for grant financing and local support for innovative solutions that extend their capabilities to increase revenues, create jobs, improve farmer incomes, and achieve sustainable market-based growth.
Proposals will only be accepted from registered agricultural cooperatives, producer groups, and agricultural processors in KEBBI STATE working directly in the RICE, DAIRY AND GROUNDNUT sector(s).
Grant awards range in value from US $100,000 to a maximum $250,000. (Award amounts are based on the level of impact to revenue growth, jobs creation, income to farmers and sustainable growth.)
Grant proposal period closes January 28, 2019
To apply click https://www.usadf.gov/apply/
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