Starting a small business

[Janita]

Starting any business in any country either it is small business or large business it is hard to start because .
for starting a business new you must have large capital and good location and proper planning related to the business small business doesn't matter that it will give you a little profit after sometime you can convert your small business and large business but with the passage of time.

 

[Faani18]

Being entrepreneur or businesman is a blessing you may call. Once you have thought about business you must be solid on it. Take a step forward because many people will derail you from it. Be focused and positive on the stance and you will be good business man.

 

[jimmann247]

It is a pity my brother, starting a small business in Nigeria is not easy at all, no were to look for fund, the commercial bank will not give you fund if you are not well established and have a good inflow.

 

[abegunrinmicheal]

Starting a small business in Nigeria is never easy, the government of the day will frustrate one out of the business, no steady power supply, unfriendly business environment, high tariff rate, etc. Truth be told small business does not thrive in this country, bank are not ready to lend one money, even if they do, they interest rate will discourage one. Also this Buhari economy will not help small business owners. Small Business owners are only trying their best.

 

[IamDozzy]

Starting a small business especially in a country like Nigeria isn't easy at all. If the economic policies formulated by the government doesn't is elitist and doesn't favour small businesses, it would be difficult for various SMEs in the country to grow. Before starting a small business in any country, ensure the economic policies of that country favours you.

 

[Aniwhyte]

You're very right on this, if you're in Nigeria starting a small business isn't in anyway easy if you don't have the capital to start it up, bank will never give you a loan if you don't have a collateral like an house or a land, coupled with the fact that it would be difficult to borrow money from family and friends.

 

[abegunrinmicheal]

Truth be told, small business is supposed to be the starting point to every business person but in this part of the world where I live, If you can find huge capital to start a new business, then one is not ready, the government will frustrate someone with their tax tariff, one must be able to bribe government officials before doing or executing some processes, the reason majority of youths are committing fraud, in fact kidnapping in Nigeria is the new oil money. Government is not helping the youth in anyway.

 

[nasiusman95]

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

 

[Abbeyola]

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.

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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.

 

[Fabby]

Starting a small business you have to Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. After that you can now come up with business plan, fund your business, business location and so on... A small business doesn't need to hire much staff at the beginning. Demands grow as business grows

 

[abegunrinmicheal]

Starting a small business has not in anyway help anyone in Nigeria, the economy will run in this country does not favour business owners operating on a small scale. The government doesn't have any business plans for the youths, even those who are into small business are not enjoying and finding it easy, from tariff, unconducive business environment, unstable power supply etc can give one headache.

 

[Ogbest]

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 up a Small business is considered to be more easier than bigger one. People like us with low or small capital can actually go for/into a small business. Going into a small business doesn't means the business will remain small.

 

[idhans]

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.

it is not easy to operate and start a business in Nigeria just like you have said. you can't get loans from banks because of high interest rate. Government and non-governmental organisations rarely fund small scale businesses, but you can always start something small with the little you have.

 

[Sheyemanu]

No business is easy to start, there is no business that's easy or difficult to start. It all starts from the mindset. The only factor that can hinder starting a business is capital. So if the capital is there and the resources are available, then starting a business will be easier, along with getting a financial advisor for your business

 

[ranaabubakar263]

When you want to start a business, the first thing you need to know is how much you know about it. The more you know about the business, the more you will benefit if you know less about it so first you need to know about it then you can start. First start it from small then large.

 

[afolabitope]

Starting a small business in Nigeria is a good ideals. And I would advice anyone that want start business to start with small goods and as times going on and you notes that the business is booming from Time to time you can now Invest in with big capitals because you gain the ground and well established. but if you start big and later you discover that the business is not moving at all due to the inadequate customers to patronize your business, such business can easily fold up.

 

[Josh9493]

starting small business when u didn't have enough funds is really the best you start small you give it time it grows and you're established so starting small is the best when u don't have enough money so you grow together with commitment and hard work many businesses people can say this not all started big some start small to big that's the way it goes.

 

[abegunrinmicheal]

Starting a small business in Nigeria is not easy, business owners operating on a small scale are not finding it easy. If one can find good capital to start a business, one will run at a lost thereby wasting money used to run a small scale. Business in Nigeria favours those big class and not lower class. Government policy does not help small scale business rather they're making it difficult for them. Bank can not lend you money if you don't have asset to put down as guarantor.

 

[Bookwormlux1]

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 have said the truth. Nigeria's economic environment is not favorable to small business owners and they pass Through a lot. The people at the top make policies that would favor the rich ones only while small businesses suffer.

 

[Abdul Naveed]

Run Market Research. Market Research will tell you that if your idea will have the opportunity to change the 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 identification.