5 Big Grants Available For Small Businesses

Grants Available For Small Businesses

Small businesses in Nigeria and across the globe face a peculiar problem of growth, expansion, and capital. However, money and funding are usually the roots of this problem. Hence, the need for big grants. Big grants available for small businesses in Nigeria are listed below.


Grants, however, do not possess magical powers to solve growth or capital problems automatically. So, a detailed business plan should be in place to prevent the misappropriation of funds.

  1. National Youth Entrepreneurship Empowerment Summit.

NYEES is an initiative targeted at empowering youths with the skills that will enable them to develop the country’s infrastructure. The first edition took place at Abuja in the year 2019.

Furthermore, Participants are subjected to seminars, plenary sessions, training, and more importantly, they get to present strategic business ideas to access the grant.


Finally, the top ten participants receive grant money worth 1 million naira each.

Eligibility

  • Your businesses must focus on any of the following areas: ICT, Hands and Craft, Fashion, Film and Entertainment, New Media, Theatre, and Architecture.
  • You must reside in Nigeria, your business, inclusive.
  • You must be a youth between the ages of 18-35.

How to Apply

  • Make a 60-seconds video showing your business ideas.
  • Upload the video on social media using the relevant hashtags: #NYEESCRATIVES #NYEES
  • Tag and follow @NYEEDSummit.

 

  1. Bank of Industry Youth Entrepreneurship Support Program

Another big grant available for small businesses in Nigeria is the BOI. This initiative aims at mentoring, training, and funding innovative business ideas for young Entrepreneurs.

Furthermore, the Youth Entrepreneurship Support Program also tries to tackle the rate of unemployment among Nigerian Youths.


However, applicants will have to undergo eight weeks of extensive business and entrepreneurship training online.

Eligibility

  • Applicants should possess a minimum qualification of OND.
  • Must present an innovative business idea located in Nigeria.
  • Must be between the ages of 18-35.

 How to Apply

Visit the YES-P Registration portal to apply online.

Read Also: Mistakes You Should Avoid As A StartUp Entrepreneur

  1. I-Startup South-West Programme.

i-Startup Southwest program is a social-based initiative intended to boost the rate of development in the country by making grants available for Small businesses.

However, the program only accepts applications from tech entrepreneurs and startups whose objective is providing solutions to problems in ICT, Digital Oil Field, and Agriculture, with the use of technology.

Also, winners undergo intensive training, after which N2 million grant money is awarded.

Eligibility

  • State of residence must be located within the Southwest region: Ogun, Oyo, Ondo, Osun, Lagos, and Ekiti.
  • The business idea must be a solution to problems in ICT, Digital Oil Field, and Agriculture, with the use of technology.
  • Businesses must be commercial.

 

  1. The US-African Development Foundation

The US-African Development Foundation, regardless of its origin, tries to make grants available for small businesses in Nigeria. Also, it provides funds and technical support to development-based ideas and initiatives in Africa.

Furthermore, this grant focuses on organizations and small businesses whose goal is to impact their local environs positively. Besides, beneficiaries receive up to $250,000 grant money.

How to Apply

Visit the US-African Development Foundation Official Website to submit applications.

 

  1. Africa Netpreneur Prize

The Jack Ma Foundation, whose founder is Jack Ma of Alibaba Group, funds this initiative intending to make grants available for small businesses in Africa.

Furthermore, this grant neither race, age, nor gender-dependent. In other words, there are basically no restrictions concerning this grant. Plus, the top 10 winners get $100,000 each.

Eligibility

Only open to small businesses and Entrepreneurs across the 54 countries in Africa.

How to Apply

Visit the website to apply online.

 

 

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