A #100,000 salary job or a grant of #1m?

[marcusfe]

I have a friend who just graduated from school. This my friend has a rich brother who is willing to help establish after becoming a graduate. A serious question was presented to my by his brother which make him to halt for some moment and told his brother that he'll come back to give his response. My friend's brother asked his to chose whether to get him a job of 100,000 naira salary or to give him a sum of 1million naira to start a business. My friend is confused and doesn't know how to answer.

What do you suggest to my friend to pick out of these options?

 

[Profuk57]

The truth is, unless your friend has previous work experience in business or has manage a business whether be it his or that of another person, then he can go ahead and and collect the grant of 1,000,000.00 naira from his brother. But if he does not have such experience then should go for the job that pays 100,000 naira, in the job he will learn what it takes to run and manage a successful business and if save at least 50,000 naira monthly, then he have the needed money to open his own business.

 

[Mataracy]

Its dependon some ones ability to utilized the resources well.
If #1m grant is well manage well in a business it can grow and started yeiding more than #100000 every month that is not well manage.
Beside lf you are earning #100000 that is not been well manage may not yeid any increment .
No body can also say may be the job will be stable or not ,so its better to venture in a business and make sure its well manage.

 

[Donkiz]

This depends solely on the individual involved, he should sit down and ask himself some important questions and find out what he really wants. If he has a business idea, that he believes is very unique and will do well in the location that he is, with the one million naira enough to start up the business, then he can go for it.

As a fresh graduate and someone that does not have any experience in business, he might find it a bit difficult to do well in it unless the business idea is very unique. Otherwise, it will be better if he will take up the paid employment, use about two years to save some money and study the business environment, so that when he set up his business he will be more prepared.

 

[Ahmedo24]

Personally I will go for the job especially if it is a government job where the security is much higher than private then if he has the intention of setting up a business he can save up to that later in the future, this makes him to gain both though not the same time but if it is a private job where the security is not guaranteed I will go for the 1 million naira then think of a very lucrative business that will earn me money then gradually search for a government own job to support the business as things unfold.

 

[Nii41]

The 100,000 naira salary job is way better because it will keep coming monthly and before you know it, you will earn that 1M. But for that 1M naira grant, it will be given to you once. In as much as you will invest the money in a business, not all businesses turn out successful, some people end up losing from their business, while some may turn out very successful, but for the 100K salary, you will start saving and get the 1M naira to invest in what you choose and still be receiving the 100k monthly afterwards.

 

[Joseph555]

For someone like me I will go for the job then used the proceed and start a business likewise any other person who knows the situation of a new business which doesn't guarantee success, you will be amazed to know that even the said 1m can vanish just two to three months in a wrong business while in the job, you are rest assured that at the end of every month your salary will come but in business and a new new business in this case doesn't assure success.

 

[Johnnyb4btc]

The really issue here still depend on your friend. Starting a new business without experience is very difficult and in most cases only 2-3 out of 10 new business survived 5years. My own suggestion is this... Since your friend is just a fresh graduate with business experience, I will tell him to take the 100k job. Then he should save at least 30-50k monthly, then after 2years he should create a business side hustle with his salary work. When the business start bringing in profit more than his salary then he can quit the job and focus on the business

 

[Teatea]

Business is not meant for everyone, does your friend have any skill or interested in going into business? He should take his time to think about his options thoroughly because if he chooses the grant option just because it is much, then it may not end well because he will definitely mismanage it. N100,000 a month is quite much for a fresh graduate and he will get 1,000,000 in 10months. So is the job a productive one? Is it a dream job? And does he have any business idea?

 

[Segat]

The truth is nobody will become wealthy from earning salary, so the sure way to become wealthy is by involving in business personally or you carefully choose the promising ones to invest into. With this in mind I will choose #1m grant over #100,000 salary.

 

[Kingsley]

To be candid answering this depends on a lot of factors, technically one may want to consider going for the job of 100k naira because if you work for a couple of months and with a good saving plan you can raise over 1million naira within some few months. So I would want to consider working and earning 100k.