Getting business support from foreigners can sometimes be frustrating due to the paperwork and the process involved. Some businesses can not be operated by an individual because of the capital involve and the law guiding the establishment of such kind of business.
If you’re here reading this post, I believe that you already have a business on the ground or a business idea that needs foreign investors for support or financial support.
If that is what you’re looking for, then you’re in the right place. This article will reveal everything you need to put in place before looking for financial support from foreign investors.
Before you embark on contacting a foreign investor, you need to put the following in place or else your request will be rejected all the time.
Things You Need To DO In Other To Get Business Support From Foreign Investor
Come Up With A Top-notch Business Idea
You should be able to come up with something that will solve a problem and create a lasting solution for that problem.
If you have your ideas on the ground already, you’ll need to find a company that has an interest in Ideas like yours and find a way to make your offer enticing to them to strike a deal with them.
Always try to let them see the picture of what they can gain from your innovation instead of looking out for what you’re going to get. By doing that, make sure that you patent your idea with the legal backing to avoid theft of intellectual property.
Get A Business Identity
By the time you have a business name, all you need is to visit the CAC (Cooperate affairs commission) of Nigeria and register your business name.
The registration process is simple and straightforward. You can still contact an attorney to help you speed the process if you’re not interested in doing the registration yourself.
Set Up Your Statement
Your business statement has to do with your vision statement and mission statement. This statement has to be well written with a goal that is generally accepted. You need to be sure that your investors’ vision is aligning with yours if otherwise, you will lose their support.
As small as this may be, you need to strike a support and sponsorship deal. For example, you are starting an NGO business here in Nigeria, and you contact Tesla for support. There is every possibility that they will reject your proposal. But when you meet BillGate foundation and write to them, they will love to partner with you just because their mission and vision are aligning with theirs which is to help people and eradicate poverty or reduce the rate.
Get a Professional Website
We are in the 21st century where the internet has become so popular that everyone is moving his/her product, service or business to the internet.
Before you seek support from a foreign investor, make sure that you have your website set up already. When you contact an investor, they usually visit your website to see what you do.
You need to make sure that your website is professionally done. You can do that yourself if you have experience in Webdesign or contact a professional to assist you with that.
As small as the website may be, it is an important factor that can sell your business to any company that might be interested in investing in your business.
Also Read: Thinking of starting a business (read this)
This is the main important part of this article “Getting Support”. The truth is that getting support from a foreign company is never easy but it is achievable.
If you have put everything we mentioned above in place then you’re qualified to try this step. I believe that you must have done that and now you’re wondering how can I get support?
Below is the list of things that will help you get support from foreign investors
- Create a list of company emails
- Be well prepared
- Build an international network
Create a List Of Company Emails
Before you embark on the journey of getting financial support from foreign investors. You need to create an excel list of the companies you have in mind. You can compile the list of these companies with their official email.
You need to have up to 100 lists then you start emailing them one after the other. Some might reject you while others might not even reply.
But eventually, if luck is at your side, some will contact you to know what you can offer to them and they will surely give you the attention you seek.
Be Well Prepared
Being prepared simply means you need to be ready to pitch your business anytime. These investors might not get back to you when you expected. Some might reach you when you have lost hope of them getting back to you. They can invite you for an impromptu meeting which you will not have time to start preparing. This is why it is advisable to prepare all the time.
Build An International Network
Having a list of friends and a network of foreigners is an added advantage. That is why some people travel to foreign countries for their masters or degree programs. They purposely do that in other to create a network of friends they can contact when they have business ideas that need foreign support.
By the time you work on network building, you can find it very easy to get support from foreign companies.
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