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Starting A Business In Nigeria Requires You Meet These Criteria by basmur(m): 10:27am On Sep 30, 2017
A lot of fresh entrepreneurs doing business in Nigeria have the wrong believe that business will thrive only in Lagos, Abuja, and Port Harcourt. There are so many states cities in Nigeria such as Owerri, Aba, Onitsha, Nnewi, Kano, Ogun, Ibadan, Enugu, etc with tremendous opportunities.
To be honest with you, I do not care what the World Bank and IMF statistics have to say about Nigeria. I am equally not interested in the politically inclined propaganda promoted on the media about Nigeria. I would rather work with my own hard facts and propose solutions than work with the media statistics. Having said this, this article will go further discuss some small scale business ideas and opportunities in Nigeria you can invest in today. But first, let us look at criteria you must meet before you invest in Nigeria
1. You must be prepared to be on ground in Nigeria.
A business can be successfully run in Nigeria without being physically present but I strongly advice against it in the early phase of A business. The mistake a lot of Nigerians in Diaspora make is starting up a business and handing it over to someone to manage while they leave the country for ‘god knows where’. If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run the business for at least one year.
Secondly, do not do business with your family members or close friends; it usually doesn’t end well. I will advice you seek professional help, incorporate your company and make sure your back is covered legally.
2. You must have knowledge of the business.
A successful entrepreneur must be skilled and competent. Competence is the by-product of knowledge spiced with experience while skill is the ability to do something well. Skill is developed over time through training. Don’t start a business simply because it was recommended. Invest time in learning everything you can about a business before you invest your money.
3. You must have a short or long term plan to employ people.
When you are operating on a low budget, you may choose to have only you working for you. You can operate from your home, a little shop or an office. There is nothing wrong with starting small, I started out this way. But as you grow in business, you will need to employ competent hands and I advice that you shouldn’t wait till then before you plan towards it, start now.
4. You must have capital.
To successfully start up a business , you need capital. Capital here need not be a million dollars but you must have capital to do the very basics. If you do not have capital you can approach financial institutions to assist you.
5. You must make sure your proposed business has an evergreen demand
It is very important you avoid businesses that doesn’t provide goods and service that is in demand. Research your proposed business, and ensure that it is one that is lucrative before you venture into it. Take for instance cyber café businesses are no longer as lucrative as it used to be because of the shift towards mobile connectivity. Why go to a cyber café to access the internet when you can do it more cheaply at home?
6. You must always remember that success is not an overnight flight
This nugget is especially for those hoping to rake in their first million naira profit in the early months of commencement of their business. It is very possible to rake in such large profits especially when so much capital and hard work are put into the business, but the truth is that it doesn’t always work that way. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort. I advice you stop looking for just the most lucrative business to start, but also for the best business you are willing to stick to regardless of the surrounding circumstances.

Culled from www.businesspla
nnigeria.com.ng/25-profitable-small-scale-business-ideas-nigeria/[b]
A lot of fresh entrepreneurs doing business in Nigeria have the wrong believe that business will thrive only in Lagos, Abuja, and Port Harcourt. There are so many states cities in Nigeria such as Owerri, Aba, Onitsha, Nnewi, Kano, Ogun, Ibadan, Enugu, etc with tremendous opportunities.
To be honest with you, I do not care what the World Bank and IMF statistics have to say about Nigeria. I am equally not interested in the politically inclined propaganda promoted on the media about Nigeria. I would rather work with my own hard facts and propose solutions than work with the media statistics. Having said this, this article will go further discuss some small scale business ideas and opportunities in Nigeria you can invest in today. But first, let us look at criteria you must meet before you invest in Nigeria
1. You must be prepared to be on ground in Nigeria.
A business can be successfully run in Nigeria without being physically present but I strongly advice against it in the early phase of A business. The mistake a lot of Nigerians in Diaspora make is starting up a business and handing it over to someone to manage while they leave the country for ‘god knows where’. If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run the business for at least one year.
Secondly, do not do business with your family members or close friends; it usually doesn’t end well. I will advice you seek professional help, incorporate your company and make sure your back is covered legally.
2. You must have knowledge of the business.
A successful entrepreneur must be skilled and competent. Competence is the by-product of knowledge spiced with experience while skill is the ability to do something well. Skill is developed over time through training. Don’t start a business simply because it was recommended. Invest time in learning everything you can about a business before you invest your money.
3. You must have a short or long term plan to employ people.
When you are operating on a low budget, you may choose to have only you working for you. You can operate from your home, a little shop or an office. There is nothing wrong with starting small, I started out this way. But as you grow in business, you will need to employ competent hands and I advice that you shouldn’t wait till then before you plan towards it, start now.
4. You must have capital.
To successfully start up a business , you need capital. Capital here need not be a million dollars but you must have capital to do the very basics. If you do not have capital you can approach financial institutions to assist you.
5. You must make sure your proposed business has an evergreen demand
It is very important you avoid businesses that doesn’t provide goods and service that is in demand. Research your proposed business, and ensure that it is one that is lucrative before you venture into it. Take for instance cyber café businesses are no longer as lucrative as it used to be because of the shift towards mobile connectivity. Why go to a cyber café to access the internet when you can do it more cheaply at home?
6. You must always remember that success is not an overnight flight
This nugget is especially for those hoping to rake in their first million naira profit in the early months of commencement of their business. It is very possible to rake in such large profits especially when so much capital and hard work are put into the business, but the truth is that it doesn’t always work that way. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort. I advice you stop looking for just the most lucrative business to start, but also for the best business you are willing to stick to regardless of the surrounding circumstances.

Culled from www.businesspla
nnigeria.com.ng/25-profitable-small-scale-business-ideas-nigeria/[/b]
A lot of fresh entrepreneurs doing business in Nigeria have the wrong believe that business will thrive only in Lagos, Abuja, and Port Harcourt. There are so many states cities in Nigeria such as Owerri, Aba, Onitsha, Nnewi, Kano, Ogun, Ibadan, Enugu, etc with tremendous opportunities.
To be honest with you, I do not care what the World Bank and IMF statistics have to say about Nigeria. I am equally not interested in the politically inclined propaganda promoted on the media about Nigeria. I would rather work with my own hard facts and propose solutions than work with the media statistics. Having said this, this article will go further discuss some small scale business ideas and opportunities in Nigeria you can invest in today. But first, let us look at criteria you must meet before you invest in Nigeria
.

1. YOU MUST BE PREPARED TO BE ON GROUND IN NIGERIA.
A business can be successfully run in Nigeria without being physically present but I strongly advice against it in the early phase of A business. The mistake a lot of Nigerians in Diaspora make is starting up a business and handing it over to someone to manage while they leave the country for ‘god knows where’. If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run the business for at least one year.
Secondly, do not do business with your family members or close friends; it usually doesn’t end well. I will advice you seek professional help, incorporate your company and make sure your back is covered legally.

2. YOU MUST HAVE THE KNOWLEDGE OF THE BUSINESS.
A successful entrepreneur must be skilled and competent. Competence is the by-product of knowledge spiced with experience while skill is the ability to do something well. Skill is developed over time through training. Don’t start a business simply because it was recommended. Invest time in learning everything you can about a business before you invest your money.

3.
YOU MUST HAVE A SHORT OR LONG TERM PLAN TO EMPLOY PEOPLE
When you are operating on a low budget, you may choose to have only you working for you. You can operate from your home, a little shop or an office. There is nothing wrong with starting small, I started out this way. But as you grow in business, you will need to employ competent hands and I advice that you shouldn’t wait till then before you plan towards it, start now.

4. YOU MUST HAVE CAPITAL
To successfully start up a business , you need capital. Capital here need not be a million dollars but you must have capital to do the very basics. If you do not have capital you can approach financial institutions to assist you.

5. YOU MUST MAKE SURE YOUR PROPOSED BUSINESS HAS AN EVERGREEN DEMAND.
It is very important you avoid businesses that doesn’t provide goods and service that is in demand. Research your proposed business, and ensure it is able to solve some of customers wants and ensure also that it is one that is lucrative before you venture into it. Take for instance cyber café businesses are no longer as lucrative as it used to be because of the shift towards mobile connectivity. Why go to a cyber café to access the internet when you can do it more cheaply at home?

6. YOU MUST ALWAYS REMEMBER THAT SUCCESS IS NOT AN OVERNIGHT FLIGHT.
This nugget is especially for those hoping to rake in their first million naira profit in the early months of commencement of their business. It is very possible to rake in such large profits especially when so much capital and hard work are put into the business, but the truth is that it doesn’t always work that way. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort. I advice you stop looking for just the most lucrative business to start, but also for the best business you are willing to stick to regardless of the surrounding circumstances.

Culled from www.businesspla
nnigeria.com.ng/25-profitable-small-scale-business-ideas-nigeria/

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