In 2015, electronics retailer, Coolex Electronics shut down its operations in Port Harcourt city after racking up bills running to N200,000 per month from government agencies and “community boys”.

The company established branches in other cities in the region and some others in Lagos.

In 2016, the company tried opening again in Port Harcourt, but this time, they faced even more challenges than the previous attempt long before the branch started operations.

According to the Managing Director of Coolex Electronics, Somiari Jaja, the branch would later open but had to be shut down after eight months.

Speaking on the theme: “Doing Business in South-South-East” at an opening panel session at the just concluded StartupSouth5 conference in Uyo, Akwa Ibom state, Jaja said the pressure from government agencies as well as the community has become a menace that hinders the smooth operations of businesses in the region.

According to him, this, coupled with access to the cities in the South-South region, makes doing business in the region a herculean task, as he added that several businesses now find it easier to conduct their businesses from Lagos.

But it is not all doom and gloom, says Tony Uduk, who is the founder of RootHub in Uyo. First, the cost of doing business is generally low, as well as the cost of living.

The youthful population in the region is a major advantage. But challenges remain. For example, there is stable electricity, but there is no broadband penetration in the region, making access to the internet difficult.

These challenges have further compounded the woes of the abundant creative talents in the region who have little to no access to opportunities.

Read more http://nigeriatodaynews.com/news/why-south-south-business-relocate-to-lagos

This is real but south east is that bad.

I don't know what he is saying but I know many businesses and companies are successful in the east and I'm also aware that many businesses and companies are closing down in Lagos. So my dear brother...it is not about Lagos or east but about improper management and other factors.