Starting a small business

[Felixko]

Starting a small business can be easy to established but very dangerous due to low capital profit that will be coming in . starting small business needs a lot of attension due to because it is the start of it you have to know the various problems that will come on your way and know how to solve it.

 

[Josephjossy]

Starting a small business is good at least you will have a little means of income but there are things you need to know before starting the business. You need to know that small businesses are easy to collapse if you didn't manage it very well. So you have to manage it very well.

 

[shakky2]

starting a small business is not a bad idea as long as that is what you are capable of doing and that is what you can afford financially,with time the small business can grow into large business with time, hardwork and consistency

 

[Blessingedidiong]

Starting a small business is not as easy as it seems..Geting the funds to start the business is one problem. Loansl from a bank will not favour a small business because of the interest rate. But government grants can be gotten to start up a small business.

 

[Yasmin]

Starting a small business doesn't have to require a lot of money, but it will involve some initial investment as well as the ability to cover ongoing expenses before you are turning a profit. Put together a spreadsheet that estimates the one-time startup costs for your business (licenses and permits, equipment, legal fees, insurance, branding, market research, inventory, trademarking, grand opening events, property leases, etc.

 

[Damismiling]

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

If you are serious and fully determined I don't think it will take much time to start a small business, the most important thing is having the idea of what you are going into also proper knowledge on how it works should be gathered from a geniue and reliable source

 

[zenith]

Honestly you are right.that is the situation we find ourselves in this country as if we don't have leaders.the so called governors in this country are very useless.i have never seen any of them putting up any thing that can help in that direction,they are just there for their business,they don't care at all.

 

[abegunrinmicheal]

Starting a small business in Nigeria doesn't pay those who are into small scale production. One needs to invest huge amount of capital if not competitors will send one out of the market, the government is not helping small scale business in whatever way, huge tariff cost, poor electricity supply, poor conducive business environment etc. The rich Can only enjoy business in Nigeria, also the economy is not friendly to most small scale business owners

 

[Abisola]

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.

 

[Waseem74]

In the start business always start with the small level so that you got the experiences to dealing in the business and get ride from the losses.Experiences always give a person good things to move.In your small budget you have a chance to increase your money and economy

 

[Godleads1]

If Nigeria is a case study in the creation of small business, then no one would be able to have a business in Nigeria because the big fishes do not want the small ones to exist. But perseverance and knowing your plans and missions helps your dreams to survive in the harsh weather surrounding business.

 

[EMMANUEL]

Starting a small business could be interesting, the reason is that you make sure every idea placed are reviewed and not put to waste. Starting a small-scale business is good because you get to know the route of how to balance customers interests and needs.
[automerge]1612788240[/automerge]
Starting a small business could be interesting, the reason is that you make sure every idea placed are reviewed and not put to waste. Starting a small-scale business is good because you get to know the route of how to balance customers' interests and needs.

 

[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.

 

[abegunrinmicheal]

Starting a small business in Nigeria is not easy, one will cross a lot of hurdles before one can compete with others competitors, one will need capital to start, as capital is the engine of the business, writing of business plan, and business name must be registered, also finding a good location matter a lot, good electricity supply is needed, one should also consider paying of tax to government, starting a business has never been easy, a lot of strict process has to be followed.

 

[Abbeyola]

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.

Starting a small business with personal savings or lease of property to start a business idea is a good.
Being focus and consistent in delivery of good and services will enhance the growth and development of the business.

 

[Ralphjoe]

It is very true that one of the biggest problem of setting up a business in Nigeria is the capital to start it up and the government are not doing anything concrete or serious about it. There used to be microfinance banks in which people can take loans from with little interest on them but now this microfinance banks have joined their fellow commercial banks to raise their interest rate very high and their conditions for the loan very Strict, so the Nigerian population are left in the mercy of commercial banks with their interest rate for loans.

 

[lelakil3]

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.

This is a very hard to the people of Nigeria that seems its government are not taking into account about the citizen of their, It will be the most common issue in their country is the economic in just for example they have one bank then it get a semi branch it will help a lot of unemployed to get a job.

 

[Jeremiah Trump]

Starting a small business is a thing of concentration and self determination. Starting a small business is a good idea. Starting a small business is not a easy thing in Nigeria, because it will involved a lot of capital, a lot of money.

 

[FreshKaz11]

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.

That it is the situation we found out self in this country,you will see that most nigerians were slave in there country all because they have no money to start up their own business..

For example most companies workers work as slave and nothing to compensate on ...So my advice we go this way,if God gives you the opportunity to leave this country please don't hesitate!!!

 

[Akinwale701]

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.

You are very right my brother. If one doesn't get prepared and invigorate himself against the challenges ahead, he might be forced to flee the business when it's time for him to rest and enjoy the fruit of his labour in the business.