Popular Entrepreneurship Grants for Nigerians have become a hot topic of the day. Many young and bright entrepreneurs in Nigeria look forward to securing a grant that would help them grow their businesses.
Scanning through the internet for grants can be stressful. But we are here to let you know that your search is over as this is your one-stop guide.
There are so many grants available to Nigerians and so, you shouldn’t be in the dark. These opportunities have a specific time period and must be worked on diligently to be accepted.
In this blog post, you will be educated on various grants that can be applied as a Nigerian.
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Before diving into the 7 popular Entrepreneurship Grants for Nigerians, let’s get a primary understanding of what an entrepreneurship grant is.
These are money given to entrepreneurs to start up their business ideas. An entrepreneurship grant is more preferable than a loan because the money doesn’t need to be paid back.
An entrepreneurship grant has its application processes that are required of you. To be successful means that you will be focused and diligently follow through with your application.
Few requirements needed from most Entrepreneurship Grants
If you are planning to apply to the Popular Entrepreneurship Grants for Nigerians then some rules must be met. Some of those rules are:
- You must be at a minimum age of 18
- A great business idea is required of you
- Most times you should already be running a business
- You must live in a country which is offering you the grant. In this case, you must live in Nigeria.
Key tips to the successful entrepreneurship grant application
Most times this area is overlooked by many young entrepreneurs. In having a successful application, you must:
- Understand what a business structure is
- Simplify your business in a structured manner
- Have an already working business model which explains your business
- Attach costs to aspects of your business that requires finance. Don’t let the application judge do that for you
- Ask questions before submission. The difference between you and a novice is the quality questions you ask.
7 Popular Entrepreneurship Grants for Nigerians
To apply for any of the 7 Popular Entrepreneurship Grants for Nigerians you need to be prepared.
After going through the added advantages mentioned above, you can now dive into the different types of grants. Document the key requirements needed for your application.
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Here is a list of the grants:
1.Africa’s young Entrepreneur Empowerment Nigeria (AYEEN)
The AYEEN program was founded in 2014. It has helped many young entrepreneurs in Nigeria. Africa Young Entrepreneurs is a non-profit organization based in Johannesburg, South Africa. It has been brought to Nigeria in the form of AYEEN to help young entrepreneurs.
As an entrepreneur in AYEEN, you will be exposed to mentors. These young individuals will offer you mentorship and build you up business-wise.
- You must be 18 years and above
- A great business idea is required of you
- Knowledge of how to run a business is required from you
To apply, visit https://ayeonline.org/pages/our-programs/, register, and carefully fill the forms. Then submit after cross-checking.
2.Tony Elumelu Foundation
Since its launch in 2015, this grant has become a big wave amongst Nigerians. The Elumelu Foundation is sponsored by its CEO Tony Elumelu. They sponsor and empower young African Entrepreneurs.
To date, the foundation has built over 7500 entrepreneurs with about $25 million in grants.
Being part of the program means that you are exposed to people of caliber around the globe for mentorship. This will greatly help you improve your business.
- You must be legally working in the country you are applying for
- Your resident must be in any of the 54 African countries
- A business older than 3 years is required of you
- You should present a profitable business idea
To apply, visit the official website https://www.tonyelumelufoundation.org/. Create your account and complete your registration form before submission
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Shell LiveWire is a social investment program to you help young Nigerian entrepreneurs. Since its commencement on March 27, 2003, it has successfully trained 6500 youths in Nigeria.
The investment program has also awarded 3300 participants with grants to start and develop their businesses.
- As a candidate, you must be between 18 to 30 years
- Your business idea must be great and profitable
- Having undergone entrepreneurial training is essential
- You must be from Niger Delta, Imo, Abia, Bayelsa, Delta, Akwa Ibom, Abia, and Edo.
For more information on how to apply, visit https://www.shell.com.ng/sustainability/communities/livewire-nigeria.html
4.Lagos State Entrepreneurs Trust Fund
This trust fund was established to provide financial support to those situated in Lagos. The trust fund has helped many Lagos state individuals in need of money to start and grow their businesses.
Lagos State Entrepreneurs Trust Fund was built to help Lagos state indigenes grow their small or medium scale businesses.
- You must be between 18 to 35 years
- Your residence should be situated in Lagos
To apply, Visit https://lsetf.ng/
5.Bank of Industry
The Bank of Industry also knows as BOI is a federal government platform set up to support and help businesses grow. These businesses can be small or large enterprises.
The BOI offers Grants in the form of loans to interested business owners.
Some of the requirements are:
- Your business must be registered and situated in Nigeria
- A profitable business idea should be submitted by you
- Your age must be of the required criteria
To apply, simply visit any of the BOI offices closest to you. At the venue, you will be guided on what to do.
6.YouWin Connect Nigeria
This program has been set up to provide funding for Nigerian entrepreneurs lacking funds to start up. YouWin program also provides an interactive community where young entrepreneurs can connect with industry experts.
As a participant you will be given a grant after winning the competition.
The requirements are
- You must be a Nigerian within the age range of 18 to 40 years
- Your business must be located in Nigeria
- A minimum educational requirement of the higher institution is needed of you
- You shouldn’t be a civil servant
To apply, visit the official website – https://apply.youwin.org.ng and register.
The United States of America started this foundation to help young entrepreneurs in African countries. Luckily, Nigeria has fallen into this category and therefore it is open to all Nigerians.
USADF stands for U.S. African Development Foundation. It is an independent government agency.
The requirements are:
- You must be at least 18 years of age or above
- Be a citizen of the country from which you apply
- Your business must be registered
To apply, visit their official website- https://www.usadf.gov