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    How to start a business with little or no funding

    So you tried everything and asked everyone, but nobody offered you a loan? Well, do not despair; others have started businesses in similar circumstances. Starting a business without outside funding is known as bootstrapping. In bootstrapping, the entrepreneur uses his or her personal savings, overdraft, or bond on their home. Most well- known successful business entrepreneurs like Bill Gates (Microsoft), Michael Dell (Dell computers), and Richard Branson adopted a combination of personal bootstrapping plans to start- off their businesses. To obtain maximum result, you need to use a combination of bootstrapping options to leverage every opportunity instead of focusing on one option.

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    MPC: Experts predict further hike in Monetary Policy Rate

    Economic experts have predicted that the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) will further raise the Monetary Policy Rate (MPR), in order to address rising inflation in the country. Some of them however opined that the Committee should adjust the foreign exchange policy to allow for efficiency in the foreign exchange market.

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    •Nicolaas Vervelde

    Why we’re investing in commercial production of sorghum, cassava – MD, NB Plc

    We maintained our contribution to the development of the agriculture value chain in Nigeria as parts of our focus on sustainable sourcing of raw materials. For instance, in 2015, 47.4 per cent of our raw materials were sourced locally. Hopefully by 2018 we should be able to achieve a benchmark of 60 per cent and Heineken, our parent company has a commitment that by 2020 we should be able to attain 99 per cent local sourcing of raw materials.

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    Africa accounts for 1.4% of world premium —AIO 

    The African Insurance Organisation, AIO, has decried the low level of insurance penetration in Africa, saying that the continent can boast of only about 1.4 per cent of total world premium. President of AIO, Mrs. Lamia Ben Mahmoud who made the assertion at the 43rd Conference and Annual General Assembly of the AIO in Marrakech, Morocco on Monday noted that there is clear predominance of developed countries on the insurance market.

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    Infinity Trust Mortgage records N7.6bn total assets

    Infinity Trust Mortgage Bank Plc has declared a total asset of N7.6 billion at the end of its operations for the financial year ended December 31, 2015. Chairman of the bank, Dr Adeyinka Bibilari, speaking at the bank’s 10th annual general meeting in Abuja, noted that the figure shows a growth of 5.55 percent over the N7.2 billion that the bank recorded for its operations in 2014. The bank also posted a profit before taxation (PBT) of N262.4 million while total operating expenses increased by 10.5 per cent from N393 million in 2014 to N434 million in 2015. He described the bank’s performance as a feat in view of the harsh economic and operating environment during the period.

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    File photo: The  floor of Stock exchange

    NSE sustains winning streak, as investors’ wealth rise N214bn

    Activities on the Nigerian Stock Exchange, NSE, continued upbeat at the close of transactions last week as sustained optimism reigned in the market throughout trading session, resulting in N214 billion appreciation in investors wealth. Specifically, at the end of trading last week, the market capitalisation, rose to N9.313 trillion in comparison to the opening figure of N9.099 trillion, representing 2.4 per cent increase.

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    Kemi Adeosun

    DMO: Driving efficient utilisation of borrowed funds

    The Federal Government recently revealed plans to borrow N1.884 trillion from both local and international debt markets to fund the 2016 budget deficit which is put at N2.24 trillion. According to the government, N900 billion will be borrowed externally, while the remaining N984 billion will be borrowed from domestic debt market to provide infrastructure needed to boost productivity and create jobs. The borrowed funds, according to the FG, would be deployed to fund only capital projects.

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    Stanbic IBTC, Zenith, others set to finance state govt projects

    Some of the banks have indicated their interest to finance viable state governments’ projects that are expected to impact on the lives of the people. The strategic intermediation role played by financial institutions in society will be further tested in the coming months as some states fine-tunes its developmental agenda to ensure prosperity for residents of their states.

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    NAHCO invests N1.4bn on infrastructure

    The Nigerian Aviation Handling Company (NAHCO) has invested N1.4 billion to upgrade infrastructure and equipment after privatisation ten years ago, its Managing Director, Mr. Nobert Bielderman has said. Bielderman who led a delegation on a visit to the Acting Director-General of the Bureau of Public Enterprises (BPE), Dr. Vincent Onome Akpotaire in Abuja, said that NAHCO was poised to sustain its position as a leading success story of the privatisation and reform programme of the Federal Government.

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    Economic downturn: Experts task advertisers on budget cut

    Advertisers in the country have been advised not to cut down their advertising budget during periods of difficult economic climate. Lampe Omoyele, a brand research and consumerism expert, gave the advice at the maiden edition of Advertisers’ Association of Nigeria, ADVAN Marketers Conference in Lagos. Lampe who is also the Managing Director of The Nielsen West Africa, a brands and marketing research company, urged that brands should not succumb to the pressure of cutting down their marketing budgets despite internal and external economic crunches because they will ultimately make more gains after the dust had settled.

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    Ad agencies must re-invent to fit into world order- Omojafor

    The Group Chairman of STB-McCann, Sir Steve Omojafor has said that advertising agencies must re-invent to fit into the new world order in order tio excell. He made the assertion in a lecture titled, “Nigerian Advertising: ‘Yesterday, Today & Tomorrow”, delivered at the inaugural lecture to mark the 60th anniversary of Rufai Ladipo, a former president of the Association of Advertising Agencies of Nigeria, AAAN.

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    Umuchinemere MFB disburses N248mn in Q1 2016

    Umuchinemere Pro-credit Micro Finance Bank (UPMFB) said it has disbursed N247.72 million micro credit fund to 796 active poor people in Enugu State in the first quarter of 2016. The bank also said that the amount disbursed in the period under review was below its planned budget for disbursement, while attributing it to high cost of living that affected virtually all business activities in the country.

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