Are you a young entrepreneur looking for some help and support from the federal government of Nigeria? Do you have an idea that can change your community and also be a source of income for you? There is a scheme that can help you achieve your goals. Continue reading to learn about Federal Government loan scheme for youths in Nigeria.
Development of strategies that will create new job opportunities and support the growth of businesses are much more needed than ever in this period of economic downturn. Microenterprises have a much more major role to play in this quest as they account for the larger percentage of the newly created jobs. However, most of these businesses fold up in less than two years of starting and only a few of them develop into thriving businesses. The reason for this is that most of them face different barriers which limit their growth. Some of the barriers microenterprises face include lack of access to training, lack of funds or access to funds, and lack of development support.
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The Youth Ignite Project (under the Bank of Industry Microenterprise Finance Programme) have taken up the challenge to address these problems by supporting one million entrepreneurs to create five million jobs over the next five years. Training will be given to these microenterprises. They will also be supported with single-digit interest loans. These start-ups will enjoy ongoing support for a period of five years.
Youth Ignite Project is looking for creative, talented and dedicated young people who have an idea they believe passionately in and want to bring to life into an existing business.
What is required from you as an entrepreneur?
As an entrepreneur, to be able to enjoy this scheme, you have to do one of the following:
- Look at the way people carry out businesses in their community or state and think of a way that is more effective to attain better results.
- Look to derive more business and market value from a skill you possess or a trade you are involved in.
- Come up with a solution to a problem in your community.
How to apply?
If you have an idea or business you think is worth it, visit www.youthignite.ng.
Submit your entry online within the specified timeframe and make sure to follow the guidelines that are specified on the website. Also, make sure to meet the terms and conditions listed on the website.
Your entry will be reviewed by a panel of accomplished judges selected from the different professional walk of life.
The successful applicant will enjoy access to a loan of up to N200, 000, will be required to attend a business boot camp for training and will become members of a community of explorers, pioneers, change-makers, problem solvers, and venture builders.
Note that you must be between the ages of eighteen to thirty-five years old for you to be considered. For further information, visit the Youth Ignite Project at www.youthignite.ng.
READ ALSO: Government loan schemes for unemployed graduates 2017
Source: Naij.com
ROSY CREST
Tuesday, 19 September 2017