Starting a business in Lagos with small capital is like going for an interview that requires timeliness. If you’re reluctant to catch up among diverse competitors; you may find it difficult to move a step from your original starting point. With the high level of competitors in Lagos, starting a business with small capital requires serious dedication and spirit of perseverance. I have witnessed many businesses that fold up after one to two years of their establishment because of the nature of Lagos environment.



Let’s have a look at how you can start a business in Lagos with small capital

Get ready to hustle

If you’re not the hustling type; starting a business in Lagos with small capital might be difficult for you. You have to buckle up your shoes to dedicate everything in your capacity to solicit for customers. Don’t be surprise, customers prefer to patronize big establishments; as a result of this, you have to fight your way through, to start yours and make it big along the run.

The little capital should not discourage you to keep the spirit of hustling moving. Try all possible means to locate suitable location with lower costs, new businesses with lower costs. You can achieve all these by engaging yourself in extensive research.

Take advantage of free advertising and marketing

You can start a business in Lagos with small capital by taking advantage of free advertising and marketing; make your small capital business available online in order to generate potential customers, try to make local media contacts and engage in street talk shows.

You may not have one naira in your account, but if you know how to play the drum of free advertising and marketing, setting your business will be very easy; because customers will be looking forward, for you to start, so that they can start patronizing you.

Build up sweat equity

You must be ready to work around the clock and handle every aspect, for you to start a business with small capital in Lagos. Ask yourself the following questions.

Are you the type that doesn’t wake up early?
Are you the lazy type that cannot run for customers?
Are you the type that segregate and condemn?
Are you the type that’s afraid to take a risk?
If you fall among the above listed categories; then starting a business with small capital in a state like Lagos may not be suitable for you; because building up sweat equity involves a great task.

Don’t get buried in credit card debt

As entrepreneur that want to start a business with small capital in Lagos; don’t get buried in credit card debt, use your firm revenue to finance your expenses. You must understand the ideology as an entrepreneur that want to start a new business.

Make sure your receivables policy won’t sink you

This is very clear and straightforward. Make sure your policy won’t affect you along the run, when you start the new business.


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