In the year 2018, Nigeria was 146 on the World Bank’s Ease of Doing Business Report. Even though that was not an envious position, it didn’t deduct anything from the fact that Nigeria was and still is one of the economies in Africa with potentials so huge that its prospects are nothing less than mouthwatering. Running a business in Nigeria is not an easy endeavor as it comes with its own risks. There are a couple of factors that make things hard for entrepreneurs and business owners.Read More
One of the biggest factors that hinder entrepreneurs from incorporating their businesses is the cost. As a result of this, most startups are just registered as business names. It is easy to see the rationale: you are just starting out with the sole aim of raking in profits and you don’t have so much capital to “throw around”. However, incorporation serves your best interest in the long-term. Whatever benefits you think the registration of the business name gives you are peripheral and short-term. You will realize this as we step further into explaining the legal and economic advantages of company incorporation.Read More
E-marketing largely entails the use of the internet to sell, promote and brand businesses. It entails the use of emails and non-wireless media to disseminate promotional content about products and services.
Small and medium-sized enterprises can easily be understood from their names. SMEs – as they are always called by the world bank and other prominent regional or international organizations like the United Nations – are the backbone of the Nigerian economy. SMEs are businesses that have numerical staff strength of a certain level. They are not as big as large businesses. However, SMEs account for over 70% of employment in Nigeria. The SMEs in Nigeria serve as nursery for the bigger firms. The income distribution in the middle and lower classes rest largely on SMEs. They are the future of industrialization in the country. SMEs are known to give room for faster decision making, dynamism, and innovation. Their importance cannot be overemphasized. The advent of the internet has provided leverage for SMEs to market their businesses. We would now consider the impact of internet marketing on SMEs in Nigeria.
Now, there are a lot of things to note when doing business in the West African nation of Nigeria.Read More
Nigeria, one of the world’s biggest emerging markets and an economic powerhouse on the African continent, is showing immense promise of being at par with the best economies on the planet. Its population not only makes it the largest African nation but also places it as one of the world’s youngest with nearly 65% of the population below 25 years of age! Despite its recent challenges with peace and stability, the Nigerian market is growing at a great pace and continues to be one of the favorite destinations for new businesses.
Nigeria is the most important country in the West African region and is one of the leading recipients of foreign investments in the African continent.
With a GDP of $397 billion (2017), Nigeria’s economy is also the biggest in Africa. Much of the government revenue comes from oil, but oil contributes only 9% of GDP. Over 30% of Nigeria’s workforce is engaged in the agricultural sector, which contributes 21.6% of GDP.
Now, there are a lot of things to note when doing business in Nigeria.Read More
Nigeria, one of the world’s biggest emerging markets and an economic powerhouse on the African continent, is showing immense promise of being at par with the best economies on the planet. Its population does not only makes it the largest African nation but also places it as one of the world’s youngest with nearly 65% of them below 25 years of age! Despite its recent challenges with peace and stability, the Nigerian market is growing at a great pace and continues to be one of the favorite destinations for new businesses.
To make the most of Nigeria’s booming business environment, we will help you go through the best ideas for some of the most profitable small-scale businesses for 2019.Read More
It is true that doing business in Nigeria is not as easy as it should be for now. But Nigerians and other people living in the country must look for ways to make ends meet. The idea of starting little if you cannot start big is one that cannot be overemphasized. As you read through the remaining parts of this article, you will be introduced to business that you can easily start in Nigeria even when you don’t have a lot of money. Most of them offer you the chance to do some other things on the side in order to make extra income.
Uber driving is lucrative in cities due to the high demand for Uber services. What is needed to be a Uber driver is a good driving experience and a great knowledge of the town or city you intend to ply your trade. What makes it a good business option is its flexibility: you can work as part-time or full time.
Another business venture you can involve in is freelance writing. If you are a good writer. If you have flair for writing. Then you can make money out of your passion. Look for blogs, websites, and magazines that are in need of content. You can write stories, articles, essays, poems, etc. You can also create your own blog and put up your thoughts and those of others who contribute to your blog. You can apply as the administrator of blogs and run the blog for the owner(s).Read More