Do you have a business idea or are already doing something in the fashion industry but you need funding, education or exposure? We’ve curated organizations that empower fashion entrepreneurs.
By Ayandola Ayanleke
Knowledge is power, information rules the world. That fashion idea you have can come to fruition. You don’t have to close down your troubled fashion business when you can get help. There is hope for you yet. There are organizations that are ready to support you in different ways to set you on your journey to greatness.
African Fashion Fund: It is an organization that has created a platform to empower African fashion designers by providing them with educational opportunities and connecting them with industry leaders to help boost their success and helps them achieve that global exposure they seek. They have an incubator program that runs for 6 to 14 months where designers are mentored and even awarded grants for a successful completion of the program. For more information, visit their website at http://africanfashionfund.org/.
African Development Bank: The African Development Bank is primarily a regional, multilateral development bank tasked with promoting the economic development of member countries. As part of their initiative, the bank established “Fashionomics.” Fashionomics is a platform with a mission to develop African fashion industry as a way of creating jobs to curb unemployment. Send a mail to firstname.lastname@example.org for inquiries or visit http://fashionomicsafrica.org/ for more information.
African Fashion Development and Empowerment Centre: AFDEC is a non-profit organization established to empower women and girls who are creative. The organization celebrates local arts, craft, and design to improve the life of the beneficiary and the economy at large. This is done through skills training, mentoring and providing a support system. Visit their website at https://afdec.org.ng/ or visit them at Plot 20, MKO Abiola Crescent, Off Toyin Street, Ikeja, 100281, Lagos, for more information.
Bank of Industry Fashion Fund: The BOI Fashion Fund is a special fund geared towards developing small and medium fashion businesses. The bank, the bank seeks to cater to businesses in the fashion industry through this platform. The fund will support skill acquisition as well as financial support. To qualify to apply, the business must be a limited liability owned by a Nigerian with strong and reliable monthly net cash flows that can support monthly loan repayment at ratio 3 to 1 (i.e. net cash flow to loan principal repayment) a referral letter from a recognized Organized Private Sector (OPS) body, guild or association such as the Fashion Designers Association of Nigeria (FADAN). To apply, visit http://www.boi.ng/apply/ and to get more information, visit https://www.boi.ng/fashionfund/.
GTB Fashion Weekend: The GTB Fashion Weekend is an event that does not only draw fashion designers and enthusiast from around the world but also expose local fashion businesses in the industry. The event is largely consumer-based, so it is like a fair where designers showcase their wares and enthusiast can purchase. Registration is done to get to attend as a retailer and over 130 small and medium retailers will be given free stalls to showcase their products. To find out more, visit https://fashionweekend.gtbank.com/.
Sometimes, the right opportunity is closer than we think; we just need the right information. Now that you have gotten the information, it is time to take action and create that business that should not remain a dream.
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Editor’s Note: This article was originally published in The Spark Magazine. Find the magazine here to read more articles.