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  The Tony Elumelu Foundation (TEF) is the leading champion of Entrepreneurship & Economic Development in Africa. Frequently Asked Questions ( FAQs ) on TEF2024 grant application. Applications are currently ongoing. Q:  How do I apply for TEF grant? A: The Tony Elumelu Foundation Entrepreneurship Programme is open to Africans from all 54 African countries with scalable business ideas or a business that has been operational for no more than 3 years. Applicants must be 18 years of age and above. Interested applicants may register on  www.tefconnect.com   Q:  Is there a registration fee to be paid before TEF Application?  A: TEF has NOT appointed anyone to act on her behalf to conduct any part of this Programme. This Programme is online, and it is FREE! If anyone is asking you to pay any amount of money in exchange for developing your business plan or pitch, it is a scam. Please report it immediately by sending an email to tefimpact@tony...

 The Tony Elumelu Foundation grant offers $5000 to more than 1000 African businesses. The Tony Elumelu Foundation is the leading philanthropy empowering a new generation of African entrepreneurs, driving poverty eradication, catalysing job creation across all 54 African countries, and ensuring inclusive economic empowerment. Since the launch of the TEF Entrepreneurship Programme in 2015, the Foundation has trained over 1.5 million young Africans on its digital hub, TEFConnect, and disbursed nearly USD$100 million in direct funding to 18,000 African women and men, who have collectively created over 400,000 direct and indirect jobs. The Foundation’s mission is rooted in Africapitalism, which positions the private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the African continent. The Foundation’s ability to fund, train, mentor, and network young African entrepreneurs, has created a unique platform for catalysing growth acros...

FINANCIAL MANAGEMENT BUDGETING Budgeting refers to an estimate of cost, revenue and resources over a specific period, reflecting a reading of future financial conditions and goals. A budget is a plan of action for achieving quantifiable objectives, as standard for measuring performance, and a tool for coping with foreseeable adverse situations. TYPES OF BUDGETS ü Operating Budget: This include Expense budget, Revenue Budget and Profit Budget. ü Capital Budget: This is also called capital expenditure budget. ü Financial Budget: This include Cash budget and Balance sheet budget HOW TO PREPARE A BUDGET Before preparing a budget, ask these questions: 1.      What is the period with which you are working 2.      What does your company want to accomplish most 3.      How will you accomplish that 4.      How much will it cost 5.      What are your funding sources ...