Collaborating with other businesses or organizations can provide you with access to capital and resources. These strategic partnerships can take the form of joint ventures, licensing agreements, or co-marketing initiatives and can help businesses scale more rapidly by leveraging each other’s strengths.
How to leverage strategic partnerships:
Small Business Loans
Small business loans are another common form of external financing. You can obtain these loans from various sources, including, credit unions and DMBs.
To secure a small business loan:
A good way to start is to visit the nearest Keystone branch to open a GrowBiz account. This account enables you to access an MSME loan of up to 20 million naira to fund your business and a flexible repayment plan over 36 months.
Each funding option comes with its own requirements, so it’s essential to carefully evaluate which one aligns best with your business goals and vision.