Startups & Innovations - Business Metrics

The Incubator Reality TV Show offers Nigerian startups N1.0bn

Jan 13, 2021Jan 13, 2021 Banjo Olaniran

‘The Incubator Reality TV Show offers Nigerian startups N1.0bn The Incubator Reality has created a lifeline to leapfrog and disrupt Nigerian start-ups by increasing their capacity and access to funding, via a novelty incubation programme. A statement by ECSCORP, the Incubator’s architect, said the reality TV show, the biggest and first of its kind in the world, seeks to change the start-up narrative by creating a start-up hub where best brains are incubated to encourage product exposure, partnership, and funding. “Start-ups encounter many challenges especially during the formation stage. These challenges…

Heritage Bank earmarks N5bn support funds for creative industry

Dec 16, 2020 Ugochi Emmanuel

heritage bank support fund for creative industry

Heritage Bank Plc has arranged N5 billion as support funds to drive and stimulate sustainable growth in the Nigeria’s creative and entertainment industry. The lender said the focus of the funds is to give a new lease of life to the sector which has been acknowledged as one among worst hit sectors by the adverse effect of Coronavirus pandemic. Meanwhile, Heritage Bank doled out the sum of N1 million to Damilola Adeyemi, a winner of an online giveaway competition to celebrate the bank’s product, Ynspyre ambassador, Oladapo Daniel Oyebanjo, better…

CcHUB Syndicate launches to attract global investments for African startups

Dec 2, 2020 Banjo Olaniran

Co-creationHub (CcHUB), the leading technology innovation centre in Africa has launched the CcHUB Syndicate, an investment vehicle empowering investment groups or firms, High Net Worth Individuals (HNI) all over the world to co-invest (for as little as $5000) in the most innovative companies across Sub-Saharan Africa along with CcHUB. The Syndicate by CcHUB aims to accelerate the growth of early-stage ventures delivering value accretive services and products to the African market at scale; with the goal to increase the number of disruptive and innovative companies with the capacity to create…

Ecobank to empower 100,000 entrepreneurs with SME agency banking campaign

Dec 1, 2020 Banjo Olaniran

Ecobank Nigeria has launched Smart Small And Medium Enterprise (SME) Agency Banking campaign targeted at empowering 100,000 entrepreneurs under the Ecobank SME and Agency Banking proposition. Emeka Agada, head of SME, Ecobank Nigeria, said the initiative was introduced in line with the bank’s commitment to support the Federal Government and Central Bank of Nigeria’s (CBN’s) vision for financial inclusion across the country. Aside improving financial inclusion, he said the campaign also aims to create self-employment for new entrepreneurs and help diversify income streams of existing small businesses across Nigeria. Agada…

Organisers unveil lead discussants at MSME Dialogue 2.0

Nov 22, 2020 Banjo Olaniran

Organisers unveil lead discussants at MSME Dialogue 2.0MSME Africa, the organizers of MSME Dialogue 2.0 has released the names of top speakers to lead dialogue at the virtual event targeted at Micro, Small and Medium Enterprises (MSMES) across Africa. According to a press statement by the organizers, Onyeka Akumah, the founder and CEO of Farmcrowdy, as well as Olagoke Balogun, the Co-founder and CEO of So Fresh, are scheduled to speak at the second edition of MSME Dialogue which will slated for Saturday, November 28,2020 at 10 am. “Other speakers…

How Small Business Can Boost Sales on Black Friday

Nov 21, 2020 Business Metrics

By David Along _______________ What is Black Friday? A brief origin of the event can help to understand why sales promotions and deals are usually flying around the traditional media and digital media during this period of the year. Black Friday is a day after United States Thanksgiving, the fourth Thursday in November, an event that showers the commencement of Christmas holidays and shopping season dated back to 1952. During this period, people turn out for Thanksgiving – families, friends, associates and community members have their time to come together…

APPLY: Pop Central launches N388m worth Ad Grant to support Nigerian SMEs

Nov 16, 2020Nov 16, 2020 Banjo Olaniran

Pop Central, the fastest-growing media platform in Nigeria focused on a young audience demographic has launched the SME Ad Grant with N388 million estimated value. The SME Ad Grant is an initiative that will avail small businesses the opportunity of free exposure on live television, the company said in a recent press statement. The media platform is giving verified Small and Medium Enterprises (SMEs) in Nigeria millions of Naira worth of free advert grants via its station, Pop Central TV, DStv channel 189. The grant to the SMEs will act as boosts to enable…

UK loses £20bn as Brexit, COVID-19 halt 1.5 SMEs from Int’l trade

Nov 11, 2020 Omobayo Azeez

Over 1.5 million UK SMEs have stopped trading internationally this year which could cost the UK £20 billion, due to the impacts of COVID-19 and uncertainty around Brexit. New research released by British fintech, Currensea, reveals that of the 80 per cent of British SMEs (4.72 million businesses) that trade internationally in any given year, 1.18 million have had to pause directly because of the global pandemic and a further 283,000 because of Brexit. In the new report, Currensea described the development as a significant loss for SMEs as international…

REGISTER: FirstBank hosts SME Webinar on rebuilding small businesses November 10

Nov 9, 2020Nov 9, 2020 Omobayo Azeez

First Bank of Nigeria Limited is set host an SME webinar themed “Rebuilding your Business” by 10am on Tuesday, 10 November 2020 via Zoom meetings. The event is organised in collaboration with FBN Insurance Brokers and FBN Quest with its discussants including: Tunde Owolabi, group executive, retail banking (Lagos & West), FirstBank; Olumide Ibidapo, MD/CEO FBNInsurance Brokers and Ijeoma Agboti, managing director, FBNQuest Funds. The financial institution said in a statement that as a brand committed to putting its stakeholders first, it has designed the webinar to empower the participants and…

7 mistakes startups should avoid in their early stages

Nov 5, 2020Nov 5, 2020 Business Metrics

Starting a business is good, but sustaining the business to profitability is the hardest albeit most rewarding part of the business endeavour. The early stage of SME forms the foundational structure the development and achievement of the startup. As a matter of fact, findings show that about 20% of small businesses fail in their first year, 30% in their second year, and 50% after five years in business. While in Nigeria, the most populous country in Africa, about 80% small businesses fail within the first 5 years, amounting to 1 in…