The primary goal of every business is to make profits. In simple terms, it is the financial gain the business earns after the cost associated with the production products or rendering of their services is subtracted from their revenue. However, when the expenses are greater than the revenue generated, there is a loss. To avoid […]
The mini importation business in Nigeria involves buying and selling of goods. The goods are purchased from other countries and then resold by the business owner for profit. As an SME in Nigeria considering the mini importation business, below are tips on how to go about yours and start making profit. 1. Register your business […]
The World Bank and African Development Bank reports that there are 650 million mobile users in Africa alone. This number is growing exponentially. This implies that more people are adapting to the usage of not just mobile phones but migrating to the use of smartphones and social media. It is an “inside secret” that when […]
While we are all striving to return to life, as usual, many businesses have been seriously affected by the pandemic. As such, they require all kinds of support to beat the effects of the pandemic on their economy. One such support is coming from Facebook. Yes, Facebook is providing post-COVID-19 support to small businesses around […]
Businesses face several challenges in today’s ultra-competitive environment. However, lack of funding lies at the forefront. For businesses in developing societies such as Nigeria, this challenge is even more pronounced. It is safe to say that without access to capital, no business can thrive as it plays a crucial role in the establishment, sustenance, and […]
Long ATM queues and extended lines at the bank with people waiting to withdraw cash is a common sight in many urban areas in Nigeria. If you have been pondering on starting a profitable business in Nigeria, then you might want to consider the POS business. The POS business in Nigeria is a lucrative venture. […]
Every entrepreneur wants to succeed in business. Beyond the excitement of having a novel idea, we all desire to enjoy public acceptance of such ideas as well as products and services created from them. The acceptance is what guarantees patronage that translates to sales and yields good returns on our investments. However, it is hard […]
SMEs in Nigeria are major economic drivers, but many business owners often do not have plans in place for a worst-case scenario. Fire, floods or some other unforeseen problem could arise in the course of doing business. When they do, the protection of a safety insurance net might make the difference between the survival and […]
Growing a business requires more than just having something to sell. Many small business owners, easily swayed by the need to deliver the optimum service to their target audience, believe that all they need for success is to offer excellent products. However, success is a consequence of an intersection of factors, some of which are […]
Many small businesses are yet to fully understand social media channels and how they can affect their marketing processes. Apart from the fact that social media can give your business visibility, you can drive awareness and gain new customers both locally and globally. A properly executed social media strategy can improve your search rankings, drive […]
