Starting a small business

[Shahzaib37]

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 good idea it can help you to build a big companies.
Early you can get small profit when you give time it you got more rewards and get more profit.

 

[Lyrrex]

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

 

[Ayokex]

As starting a big business requires proper planning so is starting a small business. Business is business whether big or small. The truth of the matter is the even the so called small business grows to become big. It is better to start small than not starting at all.

 

[Adetayo100]

Starting a small business is better than not starting anything at all. There are quite a few small businesses that you can start from home which are small fishery farm or a poultry farm and some few petty trading.

 

[Milz]

Starting a small business in Nigeria is not a small feat to achieve. One has to be to be ready for the stress that comes with it. Raising capital, satisfying customer wants and dealing with your complaints should be the major challenge of a business man in Nigeria.

 

[OderuMiracle]

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.

 

[Georgeadawara1]

Most people today think like starting a small business is a West of time and capita.
But they is no way you can grow bigger if you did not start as small all you need is to start it.even though starting a business in Nigeria is not an easy thing. To rise the capital something else.

 

[Hamza1]

I think its best to start with a small business or with small amount of invesment. for some period of time you may earn small amount of profit but you will also gain the experience, will establish links in industry and many more. and than you may invest big and earn big.

 

[Gilead]

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 really depressing how difficult it is to set up a business in a developing country like Nigeria that needs as many SMES as possible. The registration challenges alone can be discouraging.

 

[Clara]

Starting a small business is a easier than starting a large business. But both of them is a business so expect that its not easier than you think. Starting a small business is less expensive, some are tax exempted. If you want to start a large business i suggest that start with small business first before managing a large business.

 

[eenya001]

Starting a business in any country is not usually easy at all, especially when the country does not have the basic structure to start and support a small business, this would inveriably affect the growth of the business on the long run negatively.

 

[Akinwale701]

Well, to be honest with you bro, it wasn't something easy like that but with determination and hard work, I was able to pull through and came strong with the success that I recorded later in the business.

I thank God for you that you are able to pull through in the business you chose. a lot of people don't get to reach the stage before they backed out and didn't do the business anymore. I salute your courage bro

 

[Olubayo12]

I thank God for you that you are able to pull through in the business you chose. a lot of people don't get to reach the stage before they backed out and didn't do the business anymore. I salute your courage bro

thank you my brother. It's only by the grace of God and determination that a person can successfully run a business nowadays. There are a lot of competition to deal with and many others that are very hard sometimes but it's good to be self employed

 

[Emma Aneni]

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.

 

[Highflyer]

Starting a small scale business definitely requires a lot of things most importantly strategic planning to put in place everything to ensure smooth running. You need a source of funding for your business, capable staff and good, quality branding to compete with already existing brands.

 

[Akinwale701]

thank you my brother. It's only by the grace of God and determination that a person can successfully run a business nowadays. There are a lot of competition to deal with and many others that are very hard sometimes but it's good to be self employed

I am indeed blessed by the words of encouragement coming out from you to me on this thread. I'm trying glad to have met you and I out my nose to the grind stone thinking on how to set up my own business as well very soon. Thanks brother

 

[Mastercoded]

The Nigeria bank of industry is to finance such business, but we all know that everything in Nigeria is all politics, if you know the right people and connection, then you business will flourish and move to greater height, it better you collect loan from family and Friend, it much easier than going to commercial bank which will use interest rate to kill the business and eventually loose your property

 

[adazeez1995]

Starting a small business is not very tasking, The goal is how to grow your business and sustain it for a long time as it continues to expand. Business is brutal no doubt about it, but the reward is worth it if you eventually become successful. The fact that another person is doing it and succeeding is enough evidence that you also can.

 

[Olubayo12]

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I am indeed blessed by the words of encouragement coming out from you to me on this thread. I'm trying glad to have met you and I out my nose to the grind stone thinking on how to set up my own business as well very soon. Thanks brother

Thats good brother. Just try to look for a business you know that solves people's immediate demands and needs in your environment and invest in it with little amount of capital for a start, with time it will be expanded unto big one

 

[abegunrinmicheal]

Starting a small business from start has not been easy, a lot of factor are always put into check before embarking on a small business, it is not a crime to start a small business but the stress and frustration is not worth it, government has not been fair to small scale business owners, they have beautiful plans on paper but implementation is zero, part of the reasons why youths are becoming restless and engaging in various crimes and frauds, if government can help it will go a very long way to reduce crime