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Nairaland Forum / Nairaland / General / Business / Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy (465 Views)
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Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 3:30pm On Oct 04, 2023 |
Why does it seem everywhere you turn, small businesses are closing across Africa. Yet the Lebanese and Chinese are still running their malls and marts. What do they know about running a small business that we don't? In this video, everyday Nigerians share their experiences running their businesses from beer parlours to shoe stalls to defunct cafes. They explain the kind of debt you should avoid, how to deal with jealousy from your peer competitor and how to avoid the greed that commonly plagues business relationships. If you need wisdom for today and hope for tomorrow, I highly recommend you listen till the very end. https://www.youtube.com/watch?v=U48DKuadQvI Why African Businesses Fail. 1 Like |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 3:30pm On Oct 04, 2023 |
you can thank me later. |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by TheDarkporeShow: 3:08pm On Oct 08, 2023 |
Dimaya: Thank you for this 1 Like |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 12:13pm On Oct 11, 2023 |
interesting |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 4:50pm On Nov 06, 2023 |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by XAUBulls: 10:00am On Dec 06, 2023 |
Dimaya:Very insightful takes on sustainable business growth. |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 9:07am On Dec 11, 2023 |
XAUBulls: Really? What did you find insightful about it 1 Like |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by XAUBulls: 11:26am On Dec 11, 2023 |
Dimaya:How's it going? I've known these for years now, but the fantastically done video posted on this thread and the discussants featured just re-inforced the specifics in very simple and clear terms. The male anchor too is calm, very eloquent and well-dressed. 1. Formality and due diligence... You have to get a professional business name and register your business so as to access quality funds at lower interest rates. 2. Second you have to draw up a comprehensive business and sales plan and ensure that the small business (or business of whatever size) has a large demand for it's products and/or services in order to be able to turn up good profit margins and repeat customers (which is the primary purpose of being in business in the first place). If you don't have good profit margins after taking into consideration the type of products and services you are going to offer (and the overhead costs or cost of production) in order to find solutions to existing challenges, then it's much better to STAY OUT and just remain an investor in the financial markets. A physical bricks-and-morter business isn't for everyone! All the best. 1 Like |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 8:10pm On Dec 14, 2023 |
XAUBulls: This was spot on! |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 1:42pm On Dec 24, 2023 |
Merry Christmas everyone |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by Dimaya: 5:36pm On Jan 05 |
debt. greed and jealousy. intersting |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by 4mee: 3:22pm On Jan 19 |
just finished this. interesting conversation. |
Re: Why Many African Businesses Fail: Debt, Greed, Jealousy, Bankruptcy by TheDarkporeShow: 8:17pm On Feb 08 |
following |
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