Starting a small business

[Maks25]

Starting a small business in Nigeria has never been easy considering what you’d have to go through to raise business capital towards setting up and running a profitable business. Basically, it’s all about money money money! No Bank in Nigeria is willing to help small scale businesses, and Government seems to have no plan whatsoever for the citizens who needs business start up capital.

If you are contemplating any business, you are on your own if you don’t have enough money to finance it. The worst part of it all is that most potential profitable small businesses in Nigeria needs much amount of money to get it started — most times, far much beyond what average Nigerian small business aspirants can afford.

 

[Olubayo12]

Starting a small business in Nigeria has never been easy considering what you’d have to go through to raise business capital towards setting up and running a profitable business. Basically, it’s all about money money money! No Bank in Nigeria is willing to help small scale businesses, and Government seems to have no plan whatsoever for the citizens who needs business start up capital.

If you are contemplating any business, you are on your own if you don’t have enough money to finance it. The worst part of it all is that most potential profitable small businesses in Nigeria needs much amount of money to get it started — most times, far much beyond what average Nigerian small business aspirants can afford.

Business starting is not as easy as many people think it to be. you can be frustrated sometimes and think of quitting when you see things are not going well the way they are supposed to go. But if you can take the pain and be serious and focus on things, you're good to go.

 

[Maks25]

Business starting is not as easy as many people think it to be. you can be frustrated sometimes and think of quitting when you see things are not going well the way they are supposed to go. But if you can take the pain and be serious and focus on things, you're good to go.

Yes it takes persistence and seriousness. And you must be committed too.

 

[Ibrahim1]

As for me starting a small business is such a good thing and also good idea but it's not easy here in my country here in Nigeria because same area you are when they start seeing it that you making sales you will start seeing different people going into the business in same area

 

[Dubai]

Starting a small business in Nigeria has never been easy considering what you’d have to go through to raise business capital towards setting up and running a profitable business. Basically, it’s all about money money money! No Bank in Nigeria is willing to help small scale businesses, and Government seems to have no plan whatsoever for the citizens who needs business start up capital.

If you are contemplating any business, you are on your own if you don’t have enough money to finance it. The worst part of it all is that most potential profitable small businesses in Nigeria needs much amount of money to get it started — most times, far much beyond what average Nigerian small business aspirants can afford.

All businesses need capital to start them up. Either a small or large business. I doubt that small business in Nigeria can not get loan to finance their project. There's a Bank of Industry that usually find small and medium scale business. Also, the Vice President has been given trader money to finance some sort of startups. You can sure get loan for either type of business you are interested in.

 

[Psalmseen]

To me, starting a small business is good but it may be demanding though. The small capital it requires is an advantage though. But for you to raise capital, it takes lots of stress and difficulty because individuals will not want to trust you with their funds as well as financial institutions because of the fact that you're running a small business

 

[btaliat]

Thinking about the negative side of a business won't let you start. The fact is that if you are using governments as am excuse, you will still have yourself to be blamed because it is your life and not government. So, start with what you have now.

 

[tuna89]

My brother this is the bitter truth ,nobody is ready to finance small scale businesses ,what I did on my own side was to save some money from my salary no matter how small ,then I started the business no matter how small it is and make sure I improved it bit by bit, I believe that with time if the business is well managed it will grow into a medium one and beyond.

 

[Trojan8]

I think the uncertainty that surrounds the business environment in Nigeria is the major problem. Banks would always want to invest when a venture seem profitable because you will pay interest for those loans. The problem is that most businesses do not seem really viable to them hence the skepticism. I would advise that you do not focus on the negatives though, start small and see what you can achieve.

 

[RETIRED SINNER]

Starting a small business in Nigeria has never been easy considering what you’d have to go through to raise business capital towards setting up and running a profitable business. Basically, it’s all about money money money! No Bank in Nigeria is willing to help small scale businesses, and Government seems to have no plan whatsoever for the citizens who needs business start up capital.

If you are contemplating any business, you are on your own if you don’t have enough money to finance it. The worst part of it all is that most potential profitable small businesses in Nigeria needs much amount of money to get it started — most times, far much beyond what average Nigerian small business aspirants can afford.

Starting a small business is not too easy, the fact that it's called small business doesn't mean it's easy, it depends on siting and seriousness of the person opening the business, it all about getting capital and looking for the right business to venture into

 

[Kelvin7656]

1. Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. ...
2. Write your business plan. ...
3. Fund your business. ...
4. Pick your business location. ...
5. Choose a business structure. ...
6. Choose your business name. ...
7. Register your business. ...
8. Get federal and state tax IDs.

 

[Psalmsavatar]

Starting a small business could be challenging but with proper planning, it could be a walk over.
Take one step at a time, and you'll be on your way to successful small business ownership. Step 1: Do Your Research. Step 2: Make a Plan. Step 3: Plan Your Finances. Step 4: Choose a Business Structure. Step 5: Pick and Register Your Business Name. Step 6: Get Licenses and Permits. Step 7: Choose Your Accounting System.

 

[Halexcity]

Going into small business in Nigeria ,you have to be courageous and be strong to make the business more wide. Also you have to sort for capital your self because in Nigeria no government or individual even banks are ready to grant loan unless you have a strong backup

 

[Chibson]

It's quite unfortunate that some who who got idea and have done a lot of research in order to set up a business have not been able to do it because of lack of capital. no bank in the country Nigeria is willing to help small businesses to grow, this is quite unfortunate really.

 

[tublack]

1. Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. ...
2. Write your business plan. ...
3. Fund your business. ...
4. Pick your business location. ...
5. Choose a business structure. ...
6. Choose your business name. ...
7. Register your business. ...
8. Get federal and state tax IDs.

true, you gotta conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business.
Write your business plan.
Fund your business.
Pick your business location. Choose a business structure.
Choose your business name.
Register your business. Get federal and state tax IDs

 

[Mahnoor]

Each is a business that you can start inexpensively; some can be started for nothing if you already have the equipment. Every one of these suggestions will let you start a business quickly—in some cases, almost instantly.these types of business are not suitable for a"get rich quick "plane, what these inexpensive, small business.

 

[Mixhi]

Market research will tell you if there’s an opportunity to turn your idea into a successful business. It’s a way to gather information about potential customers and businesses already operating in your area. Use that information to find a competitive advantage for your business.

 

[Kelly5]

Starting a small business is a thing of concentration and self determination to see to it that it works out for. You might be thinking of opting to go and collect a loan to do this. I will want to advise you against that. It is not so palatable giving the challenges that comes with new startups

 

[Shayo]

Well I always tell people to start with what they have, then you won't have to worry about getting loans or helps from anyone.
There are also banks that help small businesses with loans with little interest, there are always convenient arrangements on how to pay back.

 

[Mostee501]

Starting a small business is better than not doing anything at all,it should be what your passionate about, it increases the chances of success.I believe ones you have gotten the business you are passionate about,location should be one of your priorities.