No doubt Small businesses or entreprenuers are the hope and hallmark of the larger economy of every nation. The success or growth of the larger economy can only be measured by the success, operationability and sustainability of small businesses in that society; therefore, government owe her citizens the duty and responsibility of creating a friendly enabling policy decisions and environment to support small businesses to thrive. Unfortunately, the Nigerian government has failed in this responsibility. What then is the hope of the entrepreneur?

This brings us to the critical questions:

Who is an Enterpreneur and how can he/she thrive in a hostile unfriendly business atmospher as Nigeria's, especially in an ever changing, and competetive market invironment? Or are there programs or policies that currently support Small Medium Enterprises (SME's) which the Nigerian Enterpreneurs are not aware of or cannot access? However, Since government has not been the solution, where then should the Enterpreneur look to? Inward? Are there skills or techniques the Enterpreneur can use to improve productivity & increase Returns on Investment (ROI)?
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Hello! Your wealth of business knowledge, skills and success experience can be of emmence help to a small business owner or someone here. Feel free to make you input on this important discussion.


Cc: President Seun

Cc: Lalasticlala

Running business in this country is indeed tricky. With no infrastructure, access to loans and other challenges it is very difficult

hahn:
Running business in this country is indeed tricky. With no infrastructure, access to loans and other challenges it is very difficult

Since govt failed in her duty, where then does the entrepreneur look to?

wealthinfos:


Since govt failed in her duty, where then does the entrepreneur look to?

In him/herself

hahn:


In him/herself

. How then can the entrepreneur realise and harness the assets in him??

wealthinfos:
. How then can the entrepreneur realise and harness the assets in him??

You just have to keep on trying, learning from your mistakes, develop yourself, learn and keep on trying till you achieve your goals.

do we have people in this forum?

wealthinfos:
do we have people in this forum?

We have people, just NOT much business people

hahn:

We have people, just NOT much business people

Even on nairaland business room? I cant get it

Going out on ur own could be the most risky but more profiting decision at the long run by the Entreprenuer

An entrepreneur is someone who has decided to respond to people's daily, weekly, monthly needs, thereby receiving profits from such services. He is a problem solver. He bears al the risks and takes all the profits!
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Feel free to make ur input.



#Wealthinfos

Note! It is risky to start alone especially in an 'unfriendly govt.' economy as Nigeria, therefore, the Entrepreneur MUST be prudent in spending to spend within his means and not above his profits. Dont forget the Entrepreneur bears all the risks for his failures!

Dont fail!


#Wealthinfos

The Entrepreneur needs CAPITAL to achieve his goal. Capital can be cash or assets. Therefore he must seize every oportunity and information to access credit facilities to boost his business.


#Wealthinfos

credit facilities could be in the form of soft intrest laons, donations from family/relatives/friends, selling of unused properties/items, borrowing, rent, etc.

credit facilities could be in the form of soft intrest laons, donations from family/relatives/friends, selling of unused properties/items, borrowing, rent, etc.


#Wealthinfos

The Entrepreneur can convert liabilities to asssets to boost His business. Liabilities are items/properties that adds no current 'financial value' to you, which can be converted to value. For instance disposing/selling your old 1980 Toyota to raise raw cash for ur business wont be a bad idea! This is called 'Strategic Business Management'.


#Wealthinfos

Did you know there are many channels to get a loan with little or zero collateral and low interest rates in for your start up business or facilities expansion in Nigeria? Did you also know that most of these means have been accessed by most rich men but remain hidden to the common Nigerian. To access these loan facilities you need a professional business advisory provider with good banking connections.
Contact us on 08067603726, 08060193044
We offer Business advisory services, we notify you of most of these hidden funds and follow up on your loan application ensuring it is approved..

tony4244:
Did you know there are many channels to get a loan with little or zero collateral and low interest rates in for your start up business or facilities expansion in Nigeria? Did you also know that most of these means have been accessed by most rich men but remain hidden to the common Nigerian. To access these loan facilities you need a professional business advisory provider with good banking connections.
Contact us on 08067603726, 08060193044
We offer Business advisory services, we notify you of most of these hidden funds and follow up on your loan application ensuring it is approved..

You can say it here, rather than privatizing it

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Tnx for this forum. Pls how can an enterpreneur survive in a competitive environment where everybody around her sells the same products with little patronage?. Don't u think such a person can be frustrated out of biz?

tolfyn:
Tnx for this forum. Pls how can an enterpreneur survive in a competitive environment where everybody around her sells the same products with little patronage?. Don't u think such a person can be frustrated out of biz?

The simple answer is be unique and professional in your product or service. There is something diffrently you could do in that product or service which every other person is not doing! Think outside the box!

I will see you at the top!

You can survive If you can believe in yourself. Who will bring the change to Nigeria's economy? I think that should be you. The economy is bad, yep that's true. But you can make it good. You have the ability to survive in a bad economy. It's a fact! Just take the bull by its horn.

tolfyn:
Tnx for this forum. Pls how can an enterpreneur survive in a competitive environment where everybody around her sells the same products with little patronage?. Don't u think such a person can be frustrated out of biz?

will like u to state the product u r into to get help that is meant for u.however have u consider marketing online cos it has make trade beyond border happen to many businesses.

Ademat7:
will like u to state the product u r into to get help that is meant for u.however have u consider marketing online cos it has make trade beyond border happen to many businesses.

She's got to do things differently to get new result. Dazzoll!

The easiest way to survive in nigeria is to become an invisible politician. That is d trick even dangote knows about it. U can not survive without been a politician. Though u don't politicise openly.
U hardly survive in nigeria on ur own except your product is a new innovation without competition or may be u ar limiting ur market in nigeria. My reason is that, the unit cost of producing a quality product is very high when compared to other country eg china. All these is a result of unfriendly business in environment, eg power. On average 10% of cost incure in running a business in nigeria is derive from cost of diesel or fuel. U will also consider the cost of rent etc
Now after all these cost how do u thing u can compete with a country like china for instance. Developed country use standard machine in production which give the a mass production advantage which in long run reduces unit cost of production while nigeria still depend on human labour. On a global market, non of nigerian product will be sold. Even dangote can not compete in a global market without the help of government through stopping the importation of cement.
My advice is this though I may be wrong. For you to survive in a global market, you have to invest in the area nigeria has a competitive advantage like production and packaging of agricultural product. The world is now a global village where by on your computer you can buy anything from any part of the world. Even nigerian can not without sentiment buy made in nigeria product when consider price and quality.
But there is hope if government can do one thing though it will have it own short fall. Nigeria is a country that has the highest market in the world and that is an advantage. Even if Nigeria buy her good without selling outside we will still make profit. My suggestion is government should band the importation of those things we can produce on our own. To continue tomorrow if time permit

@nabiz, the focus is how can the entrepreneur survive in an unfriendly govt environment as Nigeria? Did u say the entrepreneur must be a secret politician supporting either APC or PDP? Am I right?

When does it become right to quit ones job?

wealthinfos:
@nabiz, the focus is how can the entrepreneur survive in an unfriendly govt environment as Nigeria? Did u say the entrepreneur must be a secret politician supporting either APC or PDP? Am I right?

yes and I know what am talking about. Unless u want to venture into new innovation. The type of entrepreneur am talking about is a mama put business.
Do u know what u will make if government can monopolise ur product through policy. Have u ever tested government contract before and how it sweet? If u are close to government, ur chance of success will be higher