By: Jennifer Lewis
HARGEISA (Somalilandsun) – Somaliland is an unrecognized country that has remained relatively stable and in relatively good shape overall when compared with Somalia which it pulled from a fateful union with in 1991.Over the years, Somaliland has benefited from a strong government, and as a result, the collapse of Somalia’s government in 1991 didn’t have nearly as much of an effect on Somaliland as it did in other areas of the country.
The Somaliland Business Fund
The Somaliland Business Fund, also known as the “SBF”, provides grants for business of all types and sizes to get started in Somaliland. Due to its stability and strong government, Somaliland is an excellent place for businesses to invest, and with the grants that the SBF is offering, businesses will likely have an easy time setting up shop in Somaliland.
How The Somaliland Business Fund Works
The SBF will offer grants to companies that are in the private sector. The amount of the grants will vary from $5,000 to $150,000, and the particular amount of each grant will vary depending on a number of factors including how much money the business applied for and its projected operating costs overall.
A business can apply for funds from the Somaliland Business Fund by filling out a simple yet important application. The business will offer key information about its operations and the products and services that it will provide.
Getting Approved For A Grant From The SBF
A business is much more likely to get approved for a grant from the SBF if it is in good shape financially and has a clear plan for its future operations and overall finances. A business that provides clear charts, graphs and predictions for future profits, revenue and finances overall will have a much better chance of getting approved for a grant from the SBF.
The Types Of Businesses That Have Applied
So far, many businesses have applied, and these businesses are in a wide variety of different niches and fields including agriculture, fisheries, salt, meat, financial services, mining for various minerals and precious metals, mining for gas, mining for oil and much more.
Investing In Somaliland
Somaliland is in an exceptional location for many different industries. By being right on the coastline in the Horn of Africa, it is an outstanding location for large ports, international commerce and trade, fishing and even tourism.
Somaliland is also rich in minerals, and while it is known that there is some oil and gas that can be mined in Somaliland, there is a chance that there could be more gas and oil under the ground in other parts of the country.
The people of Somaliland have proven themselves to be a hard working and industrious people, and the residents of this area are hungry for economic development and financial improvement and earnings. As a result of the conditions of the rest of Somalia, some investors and businesses have decided not to invest in Somaliland in the past, and this has affected the overall financial conditions in Somaliland.
How the SBF Helps the People of Somaliland
The SBF will provide many benefits for the people of Somaliland. The SBF will allow businesses to establish themselves and grow and expand quickly in Somaliland due to its grants. It encourages further economic development in the country, and it aims to provide increased innovation, greatly increased revenue, a much better economic situation and a wealth of new potential for the people of Somaliland.
The Number Of Applications That The SBF Has Received
Currently, the SBF has received a truly incredible amount of applications, and while it expected to receive a large amount of applications due to the outstanding investment potential of Somaliland, the amount that it received so far has greatly exceeded its expectations. As of February 17th, 2013, the official website for the SBF has a message stating that the exceptionally large number of applicants may cause the overall process to take longer, and the website states that the application deadline for the first round has been extended to October 31st, 2013. Clearly, Somaliland has unprecedented potential for business and investment. The Somaliland Business Fund will help businesses establish themselves and really get their operations rolling in Somaliland, and many people in Somaliland are hoping that this leads to a new age of wealth and prosperity in the country and in the whole Horn of Africa.
For more information visit http://www.somalilandbusinessfund.com/