Starting a small business

[Holluwaphemmy]

Starting a small business would be very very easy considering the cost the cost of starting a large scale business.

 

[Middleman442]

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.

You made a very good point. To run a profitable business in a Country.
First, you must carefully study the environment where you want to start the business, that what you intend to sell, will the people buy it?
Secondly, you must not depend alone on the people around that your business location. You must know how to reach to people on some social media to drive traffic to your store.
There are so many wags to drive traffic free of charge to your offline store online since you're running a small scale business.
I guess if you can apply this simple logic, as time goes on your business will surely boom.

 

[skyliequiz]

One of the most crucial decisions you'll make is where your company will be located. Whether you're starting a physical store or an online company, the decisions you make will have an impact on your taxes, legal obligations, and earnings.

 

[Josemendez]

One of the most crucial decisions you'll make is where your company will be located. Whether you're starting a physical store or an online company, the decisions you make will have an impact on your taxes, legal obligations, and earnings.

Most times one should start with a physical store before going online because he needs storage for the goods he is offering.

 

[kayode10]

Most times one should start with a physical store before going online because he needs storage for the goods he is offering.

This is very important when you are selling a physical product. But when you have to render service online there's no need for you to have offline presence before you can start your business.

 

[Kelly5]

What will be the need for people to take a serious stress to start a small business when the profit will be so small, is it is also the same stress that will be needed to run a big business which the profit will be better.

The need for people to start a small business arise because they are never that privileged to have gotten the big capital to start the big business. And so, can't afford to be idle because they've not gotten the big capital before doing something with their life

 

[Ralphjoe]

Definitely any/all size of businesses can grow to any length but it all depends on the strategies and plans put into action and also the person handling the business.

Thanks for agreeing with mild point because someone has always made it a point of you to say that the best business to grow a small businesses but what I have been trying to let him know is that the size of a business does not matter when you comes to profitability or its growth prospects or potential.

 

[Josemendez]

This is very important when you are selling a physical product. But when you have to render service online there's no need for you to have offline presence before you can start your business.

Ofcourse there is a difference between providing service and providing product. One is intangible and the other is tangible . Services can be provided without a shop

 

[Mostee501]

Thanks for agreeing with mild point because someone has always made it a point of you to say that the best business to grow a small businesses but what I have been trying to let him know is that the size of a business does not matter when you comes to profitability or its growth prospects or potential.

Size of a business doesn't matter as far as it's being carried out with great professionalism which will guaranty a better success rate and subject to increase at anytime.

 

[Josephjossy]

Starting a small business is a good idea but you have to be very careful in managing the business you know small business he's been started with low capital and if you didn't manage it well the business may collapse or your brother out of cash to be able to run the business

 

[Jlife]

The need for people to start a small business arise because they are never that privileged to have gotten the big capital to start the big business. And so, can't afford to be idle because they've not gotten the big capital before doing something with their life

Well it is not bad to start a small business, but sometimes it can be so stressful if the business is not generating enough profit for you to pay for the shop rent and other things and to take care of yourself.

 

[Razor1911]

Well it is not bad to start a small business, but sometimes it can be so stressful if the business is not generating enough profit for you to pay for the shop rent and other things and to take care of yourself.

Obviously that will be a stressful time. Normally in the initial stages you should have some extra cash in your hand, so that even if the business does not do well you can pay the expenses with the cash in hand.

 

[Hena101]

Starting a business small is good even when you have the capital to start big because it can teaches you patience and how to grow a business.

 

[skyliequiz]

Aside from conducting research and business plan choosing name is also vital It's not simple to come up with the ideal name. You'll want one that embodies your business and expresses your personality. You should also double-check that your company name isn't already in use by someone else.

 

[Ralphjoe]

Size of a business doesn't matter as far as it's being carried out with great professionalism which will guaranty a better success rate and subject to increase at anytime.

I completely agree with you that the size of a business does not matter as what really guarantees the success of a business is the competency of the manager that is in charge of managing the business.

 

[Richard92]

I completely agree with you that the size of a business does not matter as what really guarantees the success of a business is the competency of the manager that is in charge of managing the business.

It is good to start a business very small with the business begin get Goodwill from the people and your product will be known for his quality.

 

[Setho]

I have two very much agree with you that starting up a small business in Nigeria is never easy. That is why I will raise advice people to just try their best in order not to be at the end of bad government policies.

 

[Mostee501]

I completely agree with you that the size of a business does not matter as what really guarantees the success of a business is the competency of the manager that is in charge of managing the business.

That's very true,it's the competence of the person handling the business that matters a lot absolutely and another thing that's seriously needed for success is concentration.

 

[Thinker009]

Starting a small business is a good idea but you have to be very careful in managing the business you know small business he's been started with low capital and if you didn't manage it well the business may collapse or your brother out of cash to be able to run the business

Exactly we need to analyse the business and manage it properly , because if the business is not well managed the person could lost all the invested amount he or she have

 

[Chibson]

There are a lot of people who started very small in their businesses and grew it to a reasonable extent. What matters is your business knowledge and understanding.