The greatest business ideas are in the graveyard. Now, why would people fail to bring alive the brilliant business ideas they came up with? There are many factors but one stands out and that one is finance.
In Nigeria, you cannot launch your business as a startup without funds. No matter your business niche, you most definitely need capital. If not for procuring goods, you need money to pay workers, carry around your company registrations, etc.
So, what do you do when you don’t have the money for such? Well, one thing you can do is to seek aid from Angel Investors and in this article, you’ll find out where to find Ángel Investors in Nigeria.
Who/What is an Angel Investor?
An Angel Investor is an individual that funds startups or businesses at the early stages. Such individuals are usually very rich and are looking for mediums to invest their money to get returns if the business prospers. Usually, these Angel investors help startups that are near closure, hence the word “Angel”, they act as saviors to these businesses. Startups that get funds from Ángel Investors are usually not liable to pay back as if it were a form of a loan. The money these Angel investors give up is like their spare cash and they will only profit if you do. It is like purchasing shares in a company.
Where To Find Angel Investors
In a country like Nigeria, it won’t be wrong to say that it is difficult to find Angel Investors. It is difficult to find someone who will just put money into your business without being related to you in any way. Hence, the first Angel Investors you should consider are family members and friends. Any of these persons who are willing to invest in your startup is your best bet.
The next options you have are your religious organizations. Often such organizations are willing to help members in their endeavors both directly or indirectly. You can get help from an Angel Investor who is a member of the same religious organization as you even without knowing them personally.
However, to meet formal Angel Investors, you will have to make use of Angel Networks. For your request to be considered, you would need proof of business such as a detailed business plan, business proposal, registered business name, etc.
Some Angel Networks in Nigeria where you can source for Angel Investors include Nigeria Angel Investors and Lagos Angels Network. If you feel your business plan has a high value, you can also consider sourcing for foreign Angel Investors on foreign Angel Networks.
There you go. As a startup, financing is a major obstacle you can face and if not tackled, it can break all the hard work you’ve put into planning your business. With the help of Ángel Investors, you can get the financial backing you so desperately need to run your business. All you have to part with is an ownership equity of your business which will require minimal percentage returns from the business profits.