Exactly one year ago, Edushine Foundation launched its Business Funding programme, 'The Power of 50K'. This is an initiative that helps entrepreneurs create businesses and become self sufficient by offering funding of N50,000 for a start. We began with an idea of a seed fund of N200K to fund 4 businesses via a business plan competition. The idea grew. People donated to increase the fund, and over the first 12 months we’ve had 3 business funding cycles, raised N1.267 Million, and funded 23 businesses and business expansions.
To help aspiring entrepreneurs, we created a simple business plan template.
The businesses funded include: groundnut oil and nutty snacks, organic tea, organic honey, fashion design, vegetable farming, poultry farming, trading in female fashion, tee-shirt design, a small takeaway restaurant added to an existing food business, a bakery, a small grocery stall, rice farming, fish farming, handwash products.
Some of the funded businesses had a very interesting 2017
- A Kaftan fashion designer is opening his first shop in Kano.'
- The groundnut oil and nutty snacks business was chosen to be one of businesses at the NSME (Nationwide Small Medium Entreprises) Business clinic in Abuja, attended by Vice President Osinbajo. We also look forward to the launch of her factory.
- A caterer got an order to cater lunch for a TV personality.
- The Tee-shirt designer got an order from a department of one of the Federal Universities...etc
Plans for 2018
The Power of 50K plans to fund 27 businesses this year to bring to 50 the number of businesses funded. We plan to offer a series of online training for entrepreneurs, and also An online newsletter. Our plans would been funded by the generosity of our donors. We are therefore appealing for more donations as we launch our 4th cycle to fund more entrepreneurs.
Please kindly send any donations to:
Edushine Support Foundation Account.
We are mega grateful to GOD and everyone who has supported us over our 1st year. May 2018 be even bigger and better.
Power of 50 Team:
Safiya Stephanie Musa
We run regular update posts on our FB page so donors can read up on how our entrepreneurs are doing.
Please like our page: https://www.facebook.com/The-Power-Of-N50K-EduShine-Business-Funding-214418642360997/