Yet you dnt want sharia law,it will not finish killing you.

GboyegaD:
Access to funds too is one of the major reason why small businesses fail. Our interest rates are killing.

uplawal:
Yet you dnt want sharia law,it will not finish killing you.

Truth is we do not need sharia law to have low interest rate and stop being a bigot. Western countries have interest rates lower than 5% without sharia law, therefore, hold your peace and don't think this is an appropriate avenue to force that down on people.

Sharia law is no interest not low interest,die in your rage you kafir.

GboyegaD:

Truth is we do not need sharia law to have low interest rate and stop being a bigot. Western countries have interest rates lower than 5% without sharia law, therefore, hold your peace and don't think this is an appropriate avenue to force that down on people.

uplawal:
Sharia law is no interest not low interest,die in your rage you kafir.

I guess you have challenges comprehending. Keep living in the deciet of thinking you are better than those who do not share in your faith.

Originalsly:
"Look before you leap" is not in the books of most failed small businesses...and those who looked didn't look well enough. Most leap into business with faith... follow your heart....follow your dream.... go for it....then reality hits them in the face. Location. A friend of mine had a thriving business....located very close to a busy bus/train station and shopping strip.Because his rent increased slightly he decided to move to a much cheaper location ....there was like no foot traffic and the people in that residential area were culturally not interested in his product....was like opening a grand squeaky clean very hygienic but low priced Pork Chop restaurant in the middle of an Islamic community. That is a business doomed from jump...and so was his...my bad mouth came to pass real fast. Foot traffic is very important and location determines that. My other reason...is the people employed...what criteria these owners use to hire staff?....seems like family ties, complexion, how pretty or sexy one is or who would accept the slave wages is more important than if the person is crude and rude...dishonest or don't care a damn... the type that act like they are doing the customers a favour. That's also a business killer. I'm done.

you have said it all, good location is the first step, and if you get a good location try and buy it, I keep on saying this, pressing this point good location does not mean Balogun market, or Terminus market in jos, it means foot traffic, opened to routes of movements, area near existing businesses, you can always go into towns, into neighbours and find one plot half a plot, quarter of a plot from a landlord in a good location 2million can get something I know becos this what I do sometimes the children of the landlord oppose I tell the landlord if all your children dont put hand in the document forget, most of the time landlords want to sell their are old they want money to go and marry a new wife etc, but the point is if you are going into retail or services industry try and raise capital to buy land build a shop use it for car wash etc then raise money and start the business you set yur mind on, yes access to cash is a problem banks and their 16% interest dont even think about it, sleepless nights and heart attacks, find a good friend or friends write a constitution, an agreement, terms and conditions that should guarantee everybody's money, make it easy for people to leave the venture if they are no more interested, make this agreement legal with the right authorities job done.
people if you going sole trader unless you can get a 15 year fixed lease try and buy your business premise even b4 you write yur business plan

Why Business Fail In Nigeria - Business Failure
One of the most common occurrences in business today is the failure that happens, and the fact remains that all over the world businesses are failing on a regular basis. Business failure is not restricted to just any location, even in the United States of America, we have seen world renowned firms like WORLDCOM, EMRON, PARMALAT etc failed, their location didn’t exempt them from failing as a business, this is not to say that it is an excuse to fail, but that failure can occur as a result of a lot of factors.

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Great thread.