View ikoiikenna's Posts - West Entrepreneur Forum

West Entrepreneur Forum

Welcome, Guest: Join West Entrepreneur Forum / Login / Trending / Recent / New
Stats: 162 members, 173 topics. Date: Monday 22nd May 2017 at 10:31pm

View ikoiikenna's Posts

West Entrepreneur Forum Forum / ikoiikenna's Profile / ikoiikenna's Posts

(Page 1 of 14) (1) (2) (3) (4) (5) (..) (13) (14) (Last)

Blogging / Top Best Nigerian Advertising Networks That Pay Bloggers/webmasters by ikoiikenna: Last week on Sat at 12:07am
Hello and Welcome To West Entrepreneur, if this is your first time then register and bookmark this web forum.
Below in this article, we will be discussing the top best Nigeria ad networks that can pay bloggers/webmasters and all of them will be listed below. And all these ad networks are the best alternative.

1. Adquet
Adquet is the leading ad network in Nigeria. They are based on CPC and PPC with good text and banner ads which are virus free. Gaining approval from adquet is easy and fast, and you can run both the
advertiser and publisher platform together.

Pros of Adquet
They offer text and banner ads.
No minimum traffic needed to signup, support subdomain like and they accept almost all niches.
Pay as high as #100 and low as #5 per click depending on the Ad size
Their minimum threshold payment is #2500 and offer cashout via Paypal
or bank wire.
Use of floating ads and clicking their ads on your blog by yourself is against their policy and it will get your site banned.

2. Alternative Advert
Alternative Advert is one of the top paying Ad networks not only in Nigeria but also in Africa. They offer PPC (Pay Per Click) and PPM (Pay Per Impression).

Pros of Alternative Advert
Signup is easy and requires no minimum traffic
Alternative Advert offers good text and banner ads of various sizes
They pay in dollars with the minimum payout of $50.
Use referral services and you earn 3% of the money spent by advertiser referred or 5% of the money gained by publisher you refer.
They offer paypal and bank wire payment.

3. NgAdverts
NgAdverts is another good Ad Network in Nigeria that pays bloggers for display their ads on their blog. They are based on PPC and CPC. They offer good text and banner ads and support various ads layout. Just like Adquet, you can sign up as both publisher and advertiser.

Pros of NgAdverts
Approval is easy and fast with no minimum traffic required
Offer both Advertiser and Publisher platform
Based on text and banner ads.
Minimum payout is as low as #3000 as pay via bank wire.
Clicking your ads in against their policy and will get your site disapproved.

4. Nairapp
Nairapp is one Nigerian Advertising Network that has mobile and pc friendly ads. They are really good for bloggers based in Nigeria that would love to monetize their site. Offer both Pay per click and Pay Per Impression.

Pros of Nairapp
Approval is easy and fast with no minimum traffic required.
Offer both text and banner ads
Earn 25% of the money spent by publisher you refer and 5% of the
money earned by publisher you refer.
Minimum payout is #3000 offer payouts to Paypal, check or Bank wire.

5. Dochase
Dochase is another good Ad Network in Nigeria and they are based on PPC and CPC. Their ads are not too friendly but pay high per click. They are strict in their policies and deactivate your account once
they notice any spam click. Earning takes 24 hours to show on their platform

Pros of Dochase
No minimum traffic required for approval,
Signup is easy and fast.
Pay higher on ad click than impression.
Minimum cashout as low as #2000 and offers fast payment to your local bank account than most Advertising Network

6. Twinpinenetwork
Twinpine is one leading Ad Network in Nigeria that supports both advertising on mobile app and website. With good support from advertisers like Pepsi, Jobberman, MTN, twinpine offers their publisher quality text and banner ads. With little or no minimum traffic required you can gain approval and start monetizing your site with twinpine ads.

Pros of Twinpinenetwork
Gain easy and fast approval once signup.
Display good and virus free ads to their publishers.
Offer both PPM and CPC services.
Minimum payout of #2500 via Paypal or bank.

Nigerian bloggers that are finding it hard gaining approval from Adsense, and other top Ad Network should reconsider using Nigerian Ad Network. You can also display two or three different ads
from different Ad Network in Nigeria without getting banned.

Successful Entrepreneur / Pig Farming: Success Story Of Anna Phosa by ikoiikenna: Last week on Fri at 10:28pm
Studies show that pork (pig meat) is the most widely consumed meat in the world, followed by poultry and beef. The value of trade in pig products around the world runs into billions of dollars every year and Africa enjoys less than 5 percent of this action. Although pig farming hasn’t really picked up in Africa like other parts of the world, a few entrepreneurs are already exploring the benefits of this enterprise.

Anna Phosa is one of Africa’s well-known pig farmers. Anna Phosa was an ordinary entrepreneur who made a livelihood from her small vegetable farming business in Soweto, South Africa before she was introduced to pig farming by a close friend and instantly developed a liking for the venture.

In 2004, Anna invested 1,000 Rand (about $100) to buy four pigs which she used to start up her own small pig farm. A little less than four years later (in 2008) Anna was contracted by Pick ‘n Pay, the South African supermarket and retail giant to supply its stores with 10 pigs per week. This rapidly grew to 20 pigs per week shortly after.

In 2010, Anna signed a breathtaking contract with Pick ‘n Pay to supply 100 pigs over the next five years under a 25 million Rand deal (nearly 2.5 million US Dollars!)

With a contract in hand, Anna received funding from ABSA Bank and USAID to buy a 350-hectare farm property. From just four pigs, her new farm now holds nearly 4,000 pigs at a time and supplies roughly 100 to 120 pigs a week to retailers in South Africa and currently employs about 20 staff

Others / List Of Banks In Nigeria And Their Head Office Address by ikoiikenna: Last week on Wed at 09:14pm

Most Nigerians are only conversant with their banking institution and know less about other banks. However, as a business Man, an entrepreneur or an aspirant, its necessary you know this banks and their head office for your business use. Below is a full list of all the financial banks in Nigeria and their head office address.

Access Bank - Acquired Intercontinental Bank
Address: Plot 999c, Danmole Street, Off Adeola Odeku/Idejo Street, Victoria Island, Lagos.
Phone: +234 0700CallAccess (07002255222377), +234 1-2802500; Fax: +234 1 2621037

Address: Head Office: 27 Kofo Aabayomi Street, Victoria Island, Lagos
Phone: +234 01-279 8400 or 01 463 8400 / Facsimile: 01-2701191
Click here for other Citibank Branches In Nigeria

Diamond Bank

Address: Plot 1261, Adeola Hopewell Street, P. O. Box 70381, Victoria Island, Lagos
Phone: +234-1-2701500, +234-1-2620740 -9, 234 -1- 6283892

Ecobank Nigeria - Acquired Oceanic Bank
Address: Head Office: 2, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 1 2626638-88, 2626710-17; Fax: +234 1 2616568, 2620920

Fidelity Bank Nigeria
Address: Head Office: 2, Kofo Abayomi Street, Victoria Island, Lagos
Phone: +234 1 2610408-12; Fax: +234 1 2610414

First Bank of Nigeria
Address: Head Office: Samuel Asabia House, 35, Marina, Lagos
Phone: +234 1 9052326, +234 700 FIRSTCONTACT (+234 700 34778 2668228), +234 708 062 5000, +234 1 448 5500

First City Monument Bank - Acquired FinBank
Address: Head Office: Primrose Towers, 17A Tinubu Street, P.O. Box 9117, Lagos State,
Phone: +234 (0) 1 279 3030, +234 (0) 1 448 5420

Guaranty Trust Bank
Address: Head Office: 635 Akin Adesola Street, Victoria Island, Lagos State
Phone: +234 700 48266 6328, 01-4611426-30, 8980153.

Heritage Bank Plc. - Acquired Enterprise Bank (formerly Spring Bank)
Address: Head Office: 292B Ajose Adeogun Street, Victoria Island, Lagos.
Phone: +234 1 236 9000, 0700-HERITAGE

Keystone Bank Limited - Formerly Bank PHB
Address: Head Office: Keystone Bank Crescent Off Adeyemo Alakija Street, Victoria Island.
Phone: 01-4487050, 01-4486417, 01-4487062, +234 0708 060 5000, 0704 600 4000

Skye Bank - Acquired Mainstreet Bank Limited
Address: Head Office: 3, Akin Adesola Street, Victoria Island, Lagos
Phone: +234 1 2701600

Stanbic IBTC Bank Nigeria Limited
Address: Head Office: I.B.T.C. Place, Walter Carrington Crescent, Victoria Island, Lagos
Phone: +234-1-2709676, +234 0700 CALL STANBIC (0700 2255 782 6242)

Standard Chartered Bank
Standard Chartered Bank Nigeria Ltd.

Address: Head Office: 142 Ahmadu Bello Way, Victoria Island, Lagos
Phone: +234 01 2704611 - 4

Sterling Bank - Acquired Equitorial Trust Bank
Standard Chartered Bank Nigeria Ltd.
Address: Head Office: 142 Ahmadu Bello Way, Victoria Island, Lagos
Phone: +234 01 2704611 - 4

Union Bank of Nigeria
Union Bank Of Nigeria Plc.
Address: Head Office: Stallion Plaza, 36 Marina, Lagos
Phone: +234-1-2716816, 07007007000

United Bank for Africa
Unity Bank Nigeria Ltd.
Address: Head Office: Plot 42, Ahmed Onibudo Street, Victoria Island, Lagos
Phone: +234 (0) 7080666030, 01-4619201-4, 01-2703321-4

Unity Bank Plc.
United Bank For Africa Plc. (UBA)
Address: Head Office: UBA House, 57 Marina, Lagos Island
Phone: +234 +234 1 6319822, +234 700 2255 822, +234 1 280 8822; Fax: +234 1 280 8448

Wema Bank
Address: Head Office: Wema Towers 54, Marina Lagos Island, Lagos
Phone: +234-1-2778600, +234-1-2711697, +234-803-900-3700; +234-01-277-7700-9; +234-1-4613146-7

Zenith Bank
Address: Head Office: Plot 84, Ajose Adeogun Street, Victoria Island, Lagos
Phone: +234 (1) 4647000, 2787000, 2927000.

Marketing & Advertising / Re: 6,000 Active Nigerian Email Addresses Database List by Ikoiikenna: Last week on Tue at 08:41pm
sammytee:Here is my email .

I will be greatful if sent, Thanks.

Sent. Please check your mail and share out this forum to all your social media networks. Thanks.

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by Ikoiikenna: Last week on Tue at 08:38pm
NJayson:I equally have lost as well.
Kindly send to me your guide via


Sent. Please check your mail and please share out this forum to your social network. Thanks

Technology / How To Start A Video Game Design Business by Ikoiikenna: This month on Sat 13 at 09:17pm
Are you a software designer or developer? Do you know you stand the chance of making cool cash by designing video games? Do you know that the market for video game is on the high side? If no the then be happy you are here, for you will learn all you need to start a successful video game design business.

Fact is, the annual income made from the sales of video games both in hardware and software is over $1.5billion in the United States alone so if you are talented and you also have a broad mind, then let get you started.

With great graphic sense and good graphic skills you can successfully start a game design business. To be successful however, you have to put your imagination to work and exercise your ability to think to the fullest, imagination is one of the key factors in running this business.

Much capital is not required to start a video game design business because the major things you'll need is a personal computer and an improved thinking faculty, the business is very lucrative and highly competitive but your level of creativity will stand you out among other designers.

Consider the few steps below to successfully start your video game design business as a newbie and how to profit from it in a short time.

Starting a Video Game Design Business

Feasibility study
Many entrepreneurs overlook or jump this step. Carrying out a feasibility study on the entire video game design industry will give you an idea of your competitors, start up capital and other factors that influence your success in the industry. If you think this might be a bit difficult, you can hire US (professionals) to carry out a feasibility study on your behalf.

Acquire all the required skills
A prior knowledge about video game design will help you more when you enrol in a video game design school to further your knowledge about graphics and animation. You need 2D and 3D skills and also be very creative to make head way in this business.

Draft a business plan
Since you are designing game is a business, you have to have a business plan. Business plan play a major role in the success of your business. In drafting a business plan, your business plan must cover the different strategies you want to employ to build a successful business. Your business plan must be more practical and promising, the type of business plan you draft will determine the future of your business.

Setup a Studio
Just like any other business that needs to be given much attention, your video game studio must be situated in a location free of distraction for you to pay rapt attention to what you are doing, your imagination is a worthless asset in in this business that's why you need top notch creative skills to design state of the art video games, you can setup your studio in your home and expand your business as time goes on but ensure it is in an area free from all forms of distraction.

Source for marketing channels
How great your designs are will only speak for you when you source for good market for your business, if you are not are not experienced in the aspect of marketing, you can hire an experienced marketer to help you out. You can get your work known by selling your game software to phones, computer and game console manufacturing companies.

Follow these steps to start your video game business from scratch and be a proud owner of a profitable business in no time. For questions and answer please use the comment below.

Marketing & Advertising / Re: 6,000 Active Nigerian Email Addresses Database List by Ikoiikenna: This month on Sat 13 at 08:34pm
ebbyolu:My email is, kindly send me the database. Thanks.

Noted. Please share out this forum to all your social network and expect an email soon.

Agriculture / Re: How To Start A Profitable Groundnut Farming Business by Ikoiikenna: This month on Mon 01 at 08:10am
When is the second planting season start for someone that didn't meet up with the first planting season. Thank u

I will like to know the state you reside. However, the Second Time to plant is in August to be harvested in December if you live anywhere in swampy areas (I mean where waters sprout out of the soil or where irrigation is possible). This is because harvesting the seconding planting in dry land is a big job. It will make you suffer. So plant the second if you live around such water area.

Business Plan / How To Start A Nylon Production Business + Business Plan by Ikoiikenna: Last month on Sun 30 at 01:26pm
Are you looking for a business to invest into, are you perhaps looking for a right business that pays? Then I strongly recommend you start a nylon production and selling business. This is a good and lucrative opportunity for you to exploit, the demand for nylon is very extensive and still expanding on daily basis nationwide. Owing to varieties of uses of this product its demand is simply out weighing the supply.

Nylon is used both by individuals, shops (both retailers and whole sales) companies (both goods and foods manufacturing companies) on the basis of individuals nylon bags has a wide range of uses domestically such as storage, bagging, shopping and covering. On the basis of companies usage nylon is in constant demand in large quantity being used for wrapping and packaging of their products.

Nylons are available in different sizes and thickness and in such are used based on this, for soft, thin and transparent nylon is used for packaging of edible products (e.g. Breads etc) and non-edible products. Thicker forms are used as covers for products. Not forgetting the super markets and laundry operators who use nylon (some cases customized nylon) for packaging of the sale and packaging of clients clothes. Nylon is also used in the educational sector as laminators, in construction and building for making tents. The uses of nylon cut across all works of life and also for decoration, fancy shopping bags, school bags and other uses.

Haven seen the vast market range of this business one is guaranteed of making huge profits from nylon production; Below in this article I will be reveling with detailed step on how you can start and start making it big from nylon production. So I advice you read on with all concentration.

How to start a nylon production and make money from it:
v Requirements

Starting up this business requires the following
v Adequate knowledge on the business
v Technical know-how
v Capital
v Location/site
v Machine
v Raw material
v Employees ( though not needed initially if starting in a small scale)
Raw material
Raw materials for nylon production are chemically based, manly of the byproduct of petrochemicals such as
v Polyethene
v Polyethylene also
v Escorene
v Lupine
v B.A.S.F etc
This materials listed above should not scare you as they are abundantly available in Nigeria.
Machinery for production
Find the machines needed for production in the ebook.

Polyethene bag is produced by heating and feeding rolls into machinery which draw out rolls into segment of specified length which are then cut off into individual bag.
Rate of production depends on this machine, thickness and size of the bag to be produce. Machine has a rate of 70,000 bags per hour for thin bags and 2000 bags per hour for thick bags. Machine is automated or semi automated using 220volts electric motor once switched on machine works off upon completion of production of rolls of polyethene feed into it. NOTE: punching is done on a separate machine know as puncher which is semi- manual.


If you’re asking if you really have a chance of making it then the answer is that of an emphatic yes. Not minding the current players in this production for supply is yet far from equaling with the demand so there is readily available market for your products.

To start off on this you can start with an initial investment of just 5000 which you will be using to get our feasibility/report eBook on this business that will reveal to you the secrets of this business

ü Where to source raw material at cheaper rate
ü Where to obtain the machinery
ü How to seek for fund with the report
ü How to start off production

ü Marketing
ü Management etc

All this and more you will be revealed in the eBook for the giveaway price of #5000. Don’t let this lucrative opportunity elude you contact us now 08180081665 or 08168710034 or via email ikoiikenna[at] or


Foods / How To Start Chin-chin Profitable Production Business by ikoiikenna: Last month on Fri 28 at 09:40pm
Chin-chin is a deep fried crunchy snack and it's most common in west African countries but widespread into other countries. Chin-chin has become a household name due to high demand as it’s enjoyed by kids and adults alike.
There is a huge market for chin-chin in most states across most countries because it’s crispy and fun to chew among many other reasons, it's liked by all. Parents often package it for their children or wards to eat at school as lunch and adults also eat chin-chin with cold soft drinks and also it’s mostly used in the house, home and offices to welcome guests.
However, many seeking to start a business are still blinded by the lucrative money making opportunity and huge profit they can make constantly from chin-chin production and sale business. While those that know its potential have dived into this business and are making, even more, money producing and combining this chin-chin business with other products such as pizza, egg roll, meat pie, fish pie, sausage roll, buns, puff-puff etc.
Well if you wish to go into the baking business, you should consider chin-chin production and sale business. To this, this article will answer all your questions and inquiries on this business.
Firstly: - How is chin-chin made?
There are quite a number of recipes for this snack and they all produce chin-chin but of different qualities, such are the super hard chin-chin to the soft chin-chin. To be discussed here, however, falls neither to the hard nor the too soft chin-chin but rather, a moderately soft and hard chin-chin thus we will keep it in between.

Let's get started
Ingredients you will need-
1. All purpose flour( 500g – 1kg)
2. Milk( 150 -250g)
3. Pinches of salt (2.5)
4. Granulated Sugar ( 200 -250g)
5. Vegetable oil
6. Baking powder ( 1 teas spoonful)
7. Fresh raw Eggs ( 4 eggs)
8. Powdered Nut Meg
Note that the amount of ingredient to be used depends largely on the quantity of the chin-chin you intend to produce.
- I’m going to start off by measuring out some all-purpose flour into a bowl
- Add some baking powder( note this is optional if you want a hard chin-chin)
- Add sugar and Nutmeg in the all purpose flour.
- Mix all together, makes a deep at the center, add egg with butter and milk (at room temp.) then mix all together until dough is formed.
- Using your hand massage the dough for 2-5 minutes.
- Transfer the dough to a neat floured surface (a table) then roll the dough with a rolling pin till it's flattened.
- Then cut out your chin-chin size and fry
- Your chin-chin is ready for packaging and for sale.
Haven learned the procedure and can now start producing, how do I do it as a business?

Feasibility Studies
Capital: - Just like every other business, to start you will need a capital to start with. Chin-chin business is not capital intensive. However, you need to have a clear source for capital, if you intended getting a loan, it's required you create a repayment plan as well.
Get the Necessary Machine and Equipments:-[/b] At startup stage, you might not necessary need to use machine, however, if you have the capital and intend to start on a large scale then you will need a roller and cutter, which will help you cut the dough into uniform chin-chin size of choice ( if small or big). The must have basic equipment are – stove or any other cooker, perforated spoon for scooping the chin-chin from the hot oil.
[b]Choose a Location
Just as its important to any business, while starting up your chin-chin business, it's important you choose a location that will get you’re the best exposure and nearness to large customers.
As you might have noticed chin-chin business requires no much machinery, with the above you can start up easily and make huge profits.

Sports Trading / Re: Make #50,000 To #100,000 Monthly From Football Betting With Ease by Ikoiikenna: Last month on Fri 28 at 04:23am
Nelzon25:please sir i need your help in football betting because i have really loss so much money in this business. my email is :
Thank you sir

Sent. Please check you mail. Don't forget to share out this forum to your friends in all ypur social network, invite people to join West Entrepreneur.

W.E/General / Re: People That Benifits From High Exchange Rate Of Dollar by Ikoiikenna: Last month on Fri 28 at 04:05am
Nelzon25:How i can start a small scale exportation business here in Nigeria.

With startup is simplified. We will provide you with all the information you need on the said business. Steps to take: simply create a post asking this your question above, all W.E members will reply with useful information and I W.E will also provide you with an EBook on a-z of Import and Export business all for free. So just create a post asking this question under importation and export board above.

Manufacturing/ Production / How To Start A Profitable Toothpick Production Company by ikoiikenna: Last month on Wed 26 at 11:13pm
Toothpick production business is a business that is underestimated by most people and entrepreneurs, a lot of people don't even consider it as a form of a business idea which makes the business a less competitive one. The toothpick is a short pointed piece wood or plastic used for removing bits of food from between the teeth.

I am sure you will be wondering how can one go into such business and make a profit out of it. The simple answer is yes. Yes, you can make good money from this business and I guarantee when you get in, you are sure to see your return on investment in a short period of time.

Read on as this article will show you how this toothpick production business is the perfect business opportunity for you. Here are the business samples:

1. GET A BUSINESS PLAN: The importance of having a business plan before starting a new business cannot be over-emphasize and the fact that it sounds easy to get into this business does not mean you should ignore having one. A well -written business plan should be able to help you stay focus to achieve set business goals. Your business plan should also give you a clear picture of your start up cost, targeted buyer, fellow competitors and future growth of the business.

2. Toothpick Production CAPITAL: One does not require huge capital to get into this toothpick production business, this is one of the areas I believe your business plan you would have covered so you know before hand the amount needed to officially launch the business. If you don't have the capital at hand, then try to apply for a business loan from microfinance banks or get into BUSINESS PARTNERSHIP (a website) for private investors and find someone who will invest in your business.

3. GET A BUSINESS LOCATION: It is always advisable to site your business location in areas that are accessible and convenient for both you and potential customers. This means that you should find a space that is affordable and motorable, also consider other things like if it's close a market, hotels, restaurant, school and the rest before agreeing to rent it because potential buyers can easily be seen and approach in such places.

4. GET YOUR RAW MATERIALS READY: When you have secured your location, the next thing to do is find ways to purchase the raw materials you will be needing for production or better yet, find a wood supplier that will be supplying you with either bamboo wood or hard wood because those are the type of wood suitable for making the toothpick. One advantage of this business is that the raw materials are locally available in most rural areas, so you are sure of having a steady supply of your materials.

5. PURCHASE THE NECESSARY EQUIPMENT: Toothpick production needs the use of certain machines to facilitate smooth operation. Like, a sharpening machine, splitting and polishing machines and a stainless steel for packing. You also need a set of small or medium sized plastic bottles and hand gloves.

Note that, it is not a must to purchase all the equipment listed before you can get started.

6. MARKETING: Once you are done with production, start taking your product to places where know potential buyers are, like, hotels, fast food places, big restaurants, local canteens, and supermarkets. You can approach individuals on the road side and get them to buy for their personal use. If you are in Nigeria and a Nigerian, don't forget to market your product to those mallams that sell suya (barbecue meat) by the roadside at strategic places in town, those mallams are the major buyers of the toothpick.

Take advantage of any opportunity, be it small or big and market your product. Remember to grant your customers discount periodically in other for them to stick to you.

And that is all there is to get you started on the making of a toothpick. So got get started and make that money.


Agriculture / How To Start A Profitable Groundnut Farming Business by ikoiikenna: Last month on Mon 24 at 12:57pm

Groundnut is a crop that is high in demand because it's very useful in the economy and proteinous for the body. Groundnut can be used to make varieties of other product such as peanut butter, chocolate candy, groundnut cake, groundnut oil, peanut butter etc. Groundnut takes about four(4) months to mature and can be cultivated twice in a farming season.
Let's look at the steps to take to start a lucrative groundnut farm business. You need to first;

Purchase a Farm Land
You can get a good plot of land on the outskirts of town for a good price of about ₦300,000 (this applies to most states in the country). Get a Farm Land, seek the service of one or two locals and pay them to help clear and drain the land.

Till the Soil
You can either do it yourself and save some money or you hire workers to do it for you for a token.

Purchase Seed
Once you have gotten your farmland cleared and well-drained, the next step is to purchase groundnut seeds. You can always get groundnut seeds to buy at the market if you don't have any. The number of Seed you will buy depends on the size of your farmland. You can get seeds for about ₦500 depending on which part of the country your land is.

Plant Your Seeds
Best time to plant your groundnut seeds is in March when there must have been rainfall on the land. When planting, give space for at least 30cm for each Seed to yield a good crop.

Wedding occurs when the plant starts growing after four weeks. You can clear unwanted plant growing around the groundnut and still use it to serve as natural fertilizer for the plant.

If you plant in March, harvesting should be around June or July if you want the groundnut to mature very well. If all goes well, you should be able to harvest about 100 large bags of groundnut.

Storage and Sales
Once you are done the harvesting, the final step is to store the groundnuts in a cool and dry place. Your next assignment is to find out how much a bag of groundnut is sold in the marketplace.
Let's say a bag of groundnut sells at the price of ₦5,000 and you have a hundred(100) bags harvested. So ₦5,000×100 -- ₦500,000
Subtract other expenses made and the money invested, your profit will still be a reasonable amount.

And this is only for the first three to four months, imagine what you will make in the other quarter of the year; this is not a bad investment I must say. So what are you waiting for? Get started!

Business Plan / How To Obtain A Business Loan To Start A Business by ikoiikenna: Last month on Sun 23 at 09:07pm
While it is not as easy as it used to be in securing a loan, all bank and other lenders still need to lend money to small businesses. The point here is to know how to go about it and secure the best terms. Here is a simple process on how to obtain a loan for your business:

1). Start the business before the loan is needed. It is important to build a relationship with the bankers before the business actually needs to loan. Ensure the key contact get to know about your business before asking for any anything. Have it at the back of your mind that people do business with who they know, like and trust. Lenders think the same way.

2). Decide what the money is needed for. Businesses have various reasons for obtaining business loans. It could be for a good reason or a bad reason. Good reasons include financing a piece of equipment, real estate, long term software development or large seasonal sales variances. Bad reasons include financing ongoing losses, office build outs, or acquiring non-essential business assets. Ensure you ask for a loan for the reasons.

3). Decide the Amount of Money the company needs. Most small businesses don’t ask for loans that is enough to take care of their needs. Underestimating the amount of money needed can lead to lack of working capital earlier than expected. Overestimating can make lenders doubt the owner’s assumptions and credibility. Have a good plan out a budget that is backed up by financial projections such as Profit or loss statement and cash flow statement that is reasonable and shows that financial analysis was done.

4). Know the score. Lenders also look at personal credit scores as a way to judge the reliability of the owners to pay the credit back. Lenders will look at your credit history when they calculate your credit score, which will show them the level of risk in lending you money. It is important to know that lenders look for and how the score compares to those expectations.

5). Find a Lender. Find out which type of lender is the best fit for the business loan you require. Examples of such lender are commercial banks, Non-bank lenders, region specific lenders (Local community) and micro and alternative lenders.

6). Prepare the Loan Application package. The loan package application is the paperwork that needs to be submitted in order to apply for a loan. It normally includes:
• A business plan and the business owner resume.
• Financial results and projections such as projected profit or loss statement, statement of financial position (balance sheet) and cash flow statement.
• Personal financial information and three years tax returns.

7). Get a guarantor to cover you.A guarantor is a person who guarantees to pay the bank in the event that you are unable to repay the loan and any interest it accrues. This usually gives banks assurance they need to classify your loan application as low risk.

8). Wait. Expect to get an answer within a stipulated period of time. Ensure you check in each week for status. It is most likely that the lender institution may require additional documentation.

Getting a loan for helps the business grow quicker.

(Page 1 of 14) (1) (2) (3) (4) (5) (..) (13) (14) (Last)

(Go Up)

Links: (0)
West Entrepreneur Forum - Copyright © 2017 Ikoi Abode Ikenna(Eucarl). All rights reserved.
Disclaimer: Every West Entrepreneur member is solely responsible for anything that he/she Post or Uploads on Westentrepreneur