This is about the future of the business when you have received the entire amount you are asking from YouWiN.
The questions are:
- How much money (Naira) do you want from YouWiN? (₦10m maximum)
Break this figure down into relevant categories. Note: a maximum 40% of the total award is usually allotted to Capital equipment, as the remainder of the award must be sufficient to fund operational expenses of a growing business.
- Capital equipment (e.g. machinery, land, building)
- Operating expenses (e.g. wages, raw materials, stock)
- Other (e.g. pre-start. set-up costs, accreditation)
The three costs centers should add up to form the amount you are asking from YouWiN.
To correctly answer this question, you will need to estimate the following:
- Where do you expect your business to be when you have these funds?
- How many staff will you have?
- What will be your capital cost?
- What will be your expenses cost?
- What will be your start-up cost?
Here’s a video that explains more explicitly:
Next step – Get Our Complete YouWiN Training Video + YouWiN Application Toolkit … Everything is FREE for you
This YouWiN training video answers all the YouWiN questions from ‘description’ to ‘additional information’. It also offers additional tips for writing a winning YouWiN Application. The training was facilitated by Mr. Omotunde Adeyemi who is a business consultant, entrepreneur and YouWiN awardee.
Tags: Youwin award
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