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It's Difficult To Admit But COVID-19 Has Affect Most Businesses - Business - Nairaland

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It's Difficult To Admit But COVID-19 Has Affect Most Businesses by dynamixdan(m): 8:23am On May 20, 2020
Many of us started this year having big plans and dreams and by us what I mean is Entrepreneurs.
But due to the current pandemic most of this big ideas have been halted as most major cities have been shutdown due to fear of spread of the deadly virus.

But I recently sat down and wondered how are most Nigerian entrepreneurs surviving at this time because most of them depend solely on what they earn from their various business for survival.

Many people who I knew had before the lockdown invested in their business with some of them even sourcing for capital from external sources so as to meet up with the demand by intending customers little did they know that the country was going to experience a stand still in business. Some payed huge rent for their business space, some bought vehicles to aid the movement of their goods, some bought goods using credit facilities from microfinance banks and others even took the risk of using properties to secure loan from banks with specific duration.

Now as citizens of this country Nigeria I would really like to know what plans the Minister of Economy and the Minister of trade and investment have for Business that just started and already existing small scale businesses. Because it will be a shame to see the business this people struggle to set up sink after this pandemic because they are unable to make sales or payback loans.

Let us all consider this and possibly suggest a way out for our business owners in the house

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