This competition is an initiative of the CBN as part of corporate social responsibility, and in accordance with the principle of the National Economic Empowerment and Development Strategy (needs). It is designed to unleash the entrepreneurial spirit of the youth corps members during their service and encourage them to drink concepts and pioneering ideas. The aim of the annual prize contest majorly project to reduce dependence on white-collar jobs that will stimulate economic growth, and the development of local technology and job creation.
is open to service members of all corps in each batch of a given year. Prize is in two categories (state / national), it covers all the legal business concepts with the exception of trade. It is expected to submit a proposal to work at the state level for precise study by the Joint State-agency selection committee, where three winners usually show corpers concerned. The prize money for winning the state is.
- Award 1: N0,000.00
- 2ND Award: N150,000.00
- Award 3: N100,000.00
and send the ten best proposals from each Financing for Development Office to the Ministry and subjected to further from the study by the selection committee to choose the national winners of the national award, which has the following value associated with it.
- Award 1: N1,000,000.00
- 2ND Award: N750,000.00
- Award 3: N500,000.00
all the winners will be given certificates of appreciation, linking banks to take care of their projects and an invitation to participate in the course of any of the Entrepreneurship development Centres (EDCs).
annual draft procedure Venture Competition Award.
determine the need or problem
you have one of the participants in this millionaire be making the award must have a business concept or idea. There must be a need or market you are ready to meet. It may be an innovative business idea or an improvement on the existing concern that would add value to people's lives.
carryout an in-depth business analysis
must engage in a critical analysis of the company. And be sure to profitability, durability and legality of the action. You must have a good understanding of the proposed business.
create exceptional marketing and business / plan feasibility report
Having ascertained that the business idea is viable and profitable, writing a winning business plan. It must be written on the plan and according to the legal form. The format is as follows:
1. Business Plan and guide enterprises (vision, mission, goals, etc.)
2. operational strategies (the uniqueness of the organization)
3. strategic plan and objectives
4. expected awareness, market share and marketing strategy
5. financial projection / strategy
6. sustainability strategy
7. SWOT analysis
8. risk identification and mitigation strategies
9. economic and social justification - Business benefits of Association 19,459,003] 10. environment / infrastructure analysis (potential impact of environmental factors to suggest) Rating
11. administrative structure, etc.
your business plan is your agent. There will not be when they will be examined. In fact, your passport to the process of the award is to report your feasibility. So you should make sure that the action plan, which is outstanding.
If you do not know how to write one, contact someone who is quite adept at writing business plans. If you are hiring a professional to help you write the plan, and ensure that you are part of the preparation process. That is; to be part of the preparation process. This is to enable you learn and understand everything in the report.
It is not advisable to hire a professional, which is a far cry from you. This is true because, he will give you the final work without educating you. You may be asked to defend the proposal by the Commission.
You can also make your business plan unique by adding images, PowerPoint slides, CDs, audio and video to illustrate some of the points your business more visible.
Send a suggestion
Be sure to submit your proposal on time. And it should be submitted either to the President of Financing for Development Office, the CBN branch in the state of the service or to the Director of Financing for Development Administration, the Central Bank of Nigeria, the company's headquarters, Abuja. Also make sure that the proposal of carrying number and address and phone number NYSC call-up. Be sure to follow up on this proposal by visiting the Office of the Committee for information. You should also listen to the daily news and read the current daily newspapers for new hints with regard to the annual prize contest.
components of the proposal to win
- should be the commercial capital ranging from one hundred thousand to one million naira: Given that the minimum value of the award and N 100,000.00 higher than N1, 000,000.00 let your business be of the kind that can to start with a minimum of less prize money and the maximum of the highest award.
- Businesses must be legal: There are illegal operators in Nigeria. Ensure that you go to the Corporate Affairs Commission for full legal action lists. Also, there are some goods that are smuggled in Nigeria.
- Businesses must be resident in Nigeria: The only objective of this program is to boast Nigeria and the economy is not strange. Therefore, it must be located business in Nigeria.
- should be working in the direction of the employment of Nigerian citizens: work must be hiring you and other unemployed Nigerians working ability
- You must prove that you are not going to give up work for a job collar: This contest is only for entrepreneurs. As a result, if you have the intention to start work with the intention of abandoning it immediately to secure work white-collar jobs, and this program is not for you. It is precisely for owners passionate projects.
- must prove that the business will be profitable. One of the goals of this initiative is to stimulate economic growth. Therefore, the proposal must show that the business has the potential profit.
- your proposal will have an enormous interest when it is directed towards the use and development of local technology.
- this program covers all business concepts with the exception of trade. Business activities very risky. It should not be your business idea to buy and sell finished goods. You must be able to produce the best goods at competitive prices and time.
- should be the cost of your products competitive: the goods or your services must be exceptional and yet affordable.
- must contain your business idea is a good thing that your competitors are not doing, or not doing well.
- your suggestion will double through the raw materials if using locally produced business
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