It's not village people ohhhh!
MSME AFRICA
Africa's leading news and resources platform for Micro,Small and Medium Enterprises
Dear business owners,
It's a new month again. Can someone please tell me where 2024 is running to? All the same, Happy New Month to you. All!
Many of us are quick to shift the blame, especially when things are not working as planned.
Ehn, Yes, I'm talking about you who have been applying for grants, but keep getting rejected.
Ouch! Who threw a stone at me?
But you know I understand your plight now, It's frustrating, I know. You might be wondering what you're doing wrong, or if it's even worth trying anymore. I'm here to tell you that it's not the village people that are at work. There's one major reason you're getting all these "NOs," and it may not really be about your traction or proposal. The real reason is…
The real reason you're getting all these "NOs" is because you're not standing out from the crowd. Thousands of businesses are applying for the same grants as you, and the reviewers are overwhelmed by all the applications. So how do you make your application stand out? It's all about crafting a compelling story. You need to tell a story that grabs their attention and makes them want to learn more about you and your business. I'll walk you through how to do that next time, so you can finally start getting "YESes" instead of "NOs."
Here’s what I have for you today.
Business Growth Series Recap
Opportunities Galore
Trending Business News
Entrepreneurial Origins
Enterprise Chat
Business Growth Series Recap
Earlier this week, we had the first Business Growth Series (BGS) of the year and we discussed practical strategies and tips to help MSMEs (micro, small, and medium enterprises) navigate the current economic situation.
Mr Muktar Muhammed, our guest speaker, pointed our attention to the current economic downturn which has presented unique challenges for small businesses, but with the right strategies and tactics, they can not only survive but thrive.
Overall, the webinar provided valuable insights for small businesses to weather the economic storm.
See what one of our participants had to say
Key Takeaways from the Event are as follows :
For your business to survive and thrive in the present economic situation, seek cheap funding. Ask critical questions before you embrace any particular source of funding.
Be careful with the choice of investors, don’t go for short-term investors at this time, target long-term investors. Invest in other businesses too. Don’t limit yourself.
Make timely decisions especially if your products are foreign exchange dependent, if you delay, the price may go up by the time you finally decide to buy. If any business you are doing is not giving you up to 30% return, you are losing money because current inflation rate is about 30%.
Stay tuned to watch the recording on our YouTube channel
Opportunities Galore
Call for Applications: 3MTT Innovation Challenge 2024 for Women (Up to 6 million naira Cash)
tep up to the challenge and seize the opportunity!
Join the 3MTT Innovation Challenge 2024 for Women and compete for up to 6 million naira cash prize! 💰
Don't miss out on this chance to transform your business dreams into reality.
Call For Applications: Abdul-Lateef and Sanni Foundation Womenpreneur 2024 ( Up to 500,000 Naira Grant)
Calling all visionary women entrepreneurs!
Are you ready to take your business to new heights?
Apply now for the Abdul-Lateef and Sanni Foundation Womenpreneur 2024 grant, offering up to 500,000 Naira to fuel your dreams!
Don't let this opportunity pass you by – apply today and turn your ideas into reality! Apply Here
Call For Applications: BGV, TikTok Innovate Together Grant Program( $50,000 Grant to 12 Small Businesses)
Dear small business owners! 🚀
Ready to innovate and grow with TikTok?
Apply now for the BGV, TikTok Innovate Together Grant Program and stand a chance to win a $50,000 grant to fuel your business dreams! ✨
Don't miss out on this incredible opportunity – apply today and take your business to the next level! Here's the details
Call For Applications: Halcyon Africa Climate Fellowship 2024 ($5,000 Equity-free Stipend) For African Entrepreneurs
African entrepreneurs passionate about climate action, Come out oh! ✨ Apply now for the Halcyon Africa Climate Fellowship 2024 and receive a $5,000 equity-free stipend to support your innovative solutions!
Take advantage of this chance to make a difference while advancing your venture. Apply today and be a part of the movement for a sustainable future! Get the details here
Call For Applications: VivaTech AfricaTech Awards 2024
Unleash innovation, and ignite change!
Apply now for the VivaTech AfricaTech Awards 2024 and let your groundbreaking ideas shine on the global stage. Apply here
TRENDING NEWS
Seedbuilders Nigeria Launches 2024 Cohort to Equip 100 Nigerians with Digital Skills
Exciting news alert! 🚀 Seedbuilders Nigeria is on a mission to empower 100 Nigerians with essential digital skills in their 2024 cohort. Ready to join the digital revolution? Visit our website for all the details!
NITDA and SMEDAN to Collaborate to Build Database For SME Development
NITDA and SMEDAN join forces to bolster SME development with a comprehensive database. Do you want to know more about this game-changing partnership? Head to our website for all the details!
Zainab-Nasare Idris Empowers Women Entrepreneurs in Kebbi With N10 Million Grant
Hajiya Zainab-Nasare Idris, the wife of the Kebbi Governor, has demonstrated her commitment to women empowerment by donating ₦10 million to the Association of Kebbi Women Entrepreneurs.
This generous contribution aims to boost the businesses of women entrepreneurs and encourage their active participation in various trades. Read more here
Ardova 24,000 Metric Tonnes LPG Plant to Begin Operations
The completion of Ardova Plc’s new 24,000 metric tonnes Liquefied Petroleum Gas (LPG) plant in Lagos marks a significant step towards addressing the availability of cooking gas in Nigeria.
With the facility expected to commence operations soon, it has the potential to increase the supply of LPG in the country, potentially alleviating the recent price increases witnessed in the market. Read more here
NITDA Commits to Achieving 95% Digital Literacy Coverage by 2030
The National Information Technology Development Agency (NITDA) has reiterated its commitment to collaborating with key partners to achieve 95% digital literacy coverage in Nigeria by 2030.
Kashifu Inuwa, the director general of NITDA, affirmed this during discussions with e-health Africa, emphasizing the need for collective efforts to implement impactful digital initiatives.
Join the MSME Africa Community now.
Entrepreneurial Origins
Today's Trivia
Q: Which African country has the highest number of female CEOs?
A) South Africa
B) Egypt
C) Ghana
D) Nigeria
Enterprise Chat
Performance management is a continual planning and monitoring process for business and personnel performance concerning strategically established goals.
Businesses must evaluate their progress toward the objectives they have set to answer the following questions:
What significance does a culture of performance have?
What tactics and resources can you use to assess performance in your company?
Abegunde Emmanuel, Head of HR, Pedabo Professional Service discussed Managing and Improving Performance as a Small Business.
Here's the link to watch the video.
MSME Africa Tip of the Week
To run a successful business, you need to focus on continuous improvement.
That means constantly evaluating and adjusting your strategies and processes to stay ahead of the curve. Don't be afraid to experiment and try new things, even if it means stepping out of your comfort zone.
P.S. Share this newsletter with your fellow entrepreneurs! The more the merrier!
See you at the top!
Ododoola Oyewo