Its an understatement to say that Nigeria has a harsh business environment. It is more than harsh, it is predatory and sadistic, to say the least. Sorry I am not blaming everything on the Pandemic. To cut a long sad story short, I paid a rent of 1.6m in a small shop somewhere in the FCT and shortly after that, the lock down started. I had no option than to pack my kaya out of the shop at the skeletal resumption of activities and the uncertainties of stable continuity in the face of the global pandemic vis a vis the kind of items I sell (switching to another kind of trade, on the tides of the realities of the pandemic is also not easy without some funds). I have also asked for a refund of half the sum unexpired residue, but landlord said until someone occupies ad pays; non till now.

I had approached the National Microfinance Bank for the so called Palliative loan from CBN but the experience is not what I want to bore you with. I also approached a commercial Bank I started banking with since 2013, but the conditions they gave me are just jaw dropping in the negative sense. The finance houses that I described as money lenders are not even in focus as their interest rates are just killing.

Business in Nigeria is quite a herculean task, entrepreneurship is by divine providence if one should tell himself the truth- I mean starters like us, don't get me wrong. Ideas are dead and frozen, not an inch encouraged. Many that flourish in their stuff have benefactors that are looters and shady practitioners of sorts. The banks run after the already wealthy and even beg to give them more credit without documentations. It is quite cheaper and safer for them in a country where a barber may not see 5 hours electricity to power his clipper while the basest politician lives in Nigerian Dubai. A clear depiction of dysfunctional society!

What more can I say? I think it is time to start asking the right questions. It is really terrible business wise around here.

Ouch! Sorry man.

Another name for doing business in Nigeria is frustration.

Snakedoctor1:
Its an understatement to say that Nigeria has a harsh business environment. It is more than harsh, it is predatory and sadistic, to say the least. Sorry I am not blaming everything on the Pandemic. To cut a long sad story short, I paid a rent of 1.6m in a small shop somewhere in the FCT and shortly after that, the lock down started. I had no option than to pack my kaya out of the shop at the skeletal resumption of activities and the uncertainties of stable continuity in the face of the global pandemic. I have also asked for a refund of half the sum unexpired residue, but landlord said until someone occupies ad pays; non till now.

I had approached the National Microfinance Bank for the so called Palliative loan from CBN but the experience is not what I want to bore you with. I also approached a commercial Bank I started banking with since 2013, but the conditions they gave me are just jaw dropping in the negative sense. The finance houses that I described as money lenders are not even in focus as their interest rates are just killing.

Business in Nigeria is quite a herculean task, entrepreneurship is by divine providence if one should tell himself the truth- I mean starters like us, don't get me wrong. Ideas are dead and frozen, not an inch encouraged. Many that flourish in their stuff are benefactors of looters and shady practitioners of sorts. The banks run after the already wealthy and even beg to give them more credit without documentations. It is quite cheaper and safer for them in a country where a barber may not see 5 hours electricity to power his clipper while the basest politician lives in Nigerian Dubai. A clear depiction of dysfunctional society!

What more can I say? I think it is time to start asking the right questions. It is really terrible business wise around here.

What do you expect with this mindset.

The bank is someone else's business likewise, even when your friend the guy wey no from childhood reason you Sai make you loan am something make him start one small hustle, you dey give am just like that without any hesitation? And you expect a billion dollar company to give everyone that ask loan money just like while hoping they succeed? Be real dude.

Yes the country is not working, hut those bitchy reasons you have up there ain't it.

Save and investment, dey go also follow you come house dey beg you with loans.

OP if everyone starts talking no be here oo...In our country the rich becomes richer while the poor becomes poorer. I have given up on most of my dreams...

I just hate our banking system

So sorry Sir. It's quite sad the frustrating nature of business in Nigeria. And the negligent nature of our mis-leaders now compounded by the excuse of the pandemic.

I pray the stars help you find the courage and support to build your empire back again.

Wetin dey work for dix country sef?

kestolove95:
Wetin dey work for dix country sef?

Corruption

Havanatandt:


Corruption

u are rice

What do you sell there? Snake?

Snakedoctor1:
Its an understatement to say that Nigeria has a harsh business environment. It is more than harsh, it is predatory and sadistic, to say the least. Sorry I am not blaming everything on the Pandemic. To cut a long sad story short, I paid a rent of 1.6m in a small shop somewhere in the FCT and shortly after that, the lock down started. I had no option than to pack my kaya out of the shop at the skeletal resumption of activities and the uncertainties of stable continuity in the face of the global pandemic vis a vis the kind of items I sell (switching to another kind of trade, on the tides of the realities of the pandemic is also not easy without some funds). I have also asked for a refund of half the sum unexpired residue, but landlord said until someone occupies ad pays; non till now.

I had approached the National Microfinance Bank for the so called Palliative loan from CBN but the experience is not what I want to bore you with. I also approached a commercial Bank I started banking with since 2013, but the conditions they gave me are just jaw dropping in the negative sense. The finance houses that I described as money lenders are not even in focus as their interest rates are just killing.

Business in Nigeria is quite a herculean task, entrepreneurship is by divine providence if one should tell himself the truth- I mean starters like us, don't get me wrong. Ideas are dead and frozen, not an inch encouraged. Many that flourish in their stuff are benefactors of looters and shady practitioners of sorts. The banks run after the already wealthy and even beg to give them more credit without documentations. It is quite cheaper and safer for them in a country where a barber may not see 5 hours electricity to power his clipper while the basest politician lives in Nigerian Dubai. A clear depiction of dysfunctional society!

What more can I say? I think it is time to start asking the right questions. It is really terrible business wise around here.

So sorry about the nasty experience u had. What line of business are u into?

Same thing happened to me. I collect small money from the landlord instead of refunding half. Our banking system is the worst in the world

Sorry. The business atmosphere now is not smiling at starters.

Sorry bro. I feel for you. Move your business online it's easier to start than offline business. Meanwhile don't borrow money to start a business cus most businesses fail in their first six months. Start with what you have and master the business very well before borrowing. I wish you the best in your future endeavours.

Experiences like this abound. All the best bro.
What is your line of business. There are people who have passed through your kind of experience and survived even flourished. Their perspective might be useful to you.

We have told them that business is for everyone. But everybody wants to be 'OGA'

Snakedoctor1:
Its an understatement to say that Nigeria has a harsh business environment. It is more than harsh, it is predatory and sadistic, to say the least. Sorry I am not blaming everything on the Pandemic. To cut a long sad story short, I paid a rent of 1.6m in a small shop somewhere in the FCT and shortly after that, the lock down started. I had no option than to pack my kaya out of the shop at the skeletal resumption of activities and the uncertainties of stable continuity in the face of the global pandemic vis a vis the kind of items I sell (switching to another kind of trade, on the tides of the realities of the pandemic is also not easy without some funds). I have also asked for a refund of half the sum unexpired residue, but landlord said until someone occupies ad pays; non till now.

I had approached the National Microfinance Bank for the so called Palliative loan from CBN but the experience is not what I want to bore you with. I also approached a commercial Bank I started banking with since 2013, but the conditions they gave me are just jaw dropping in the negative sense. The finance houses that I described as money lenders are not even in focus as their interest rates are just killing.

Business in Nigeria is quite a herculean task, entrepreneurship is by divine providence if one should tell himself the truth- I mean starters like us, don't get me wrong. Ideas are dead and frozen, not an inch encouraged. Many that flourish in their stuff have benefactors that are looters and shady practitioners of sorts. The banks run after the already wealthy and even beg to give them more credit without documentations. It is quite cheaper and safer for them in a country where a barber may not see 5 hours electricity to power his clipper while the basest politician lives in Nigerian Dubai. A clear depiction of dysfunctional society!

What more can I say? I think it is time to start asking the right questions. It is really terrible business wise around here.

Same thing happened to me..

I nearly sip Wesley snipe gin

But bruwari supporters will counter Yu seriously

Most of them inherited 4rooms from their fathers...

Government doesn't care.. they all busy in anticipation of 2023...

Since bruwari took to office now 2yrs I have been an applicant

Infact I am an application on play store

Any bruwari supporters till this evening

hi op,
if u bank with gtb or first bank, i am sure they can avail you some soft loans.
the truth is that u need to re-strategise because naija does not encourage entrepreneurship.
What is your business about?
is it something you can do from home?
either buying and selling or providing service, just create a website or instagram page and get influencers to push traffic to the page.
you can also move to a place like gwarimpa where you will not pay that much money for office space
but the truth is with tis covid experience, i will rather prefer getting my business online because of the reach.

cheers bro

Snakedoctor1:
Its an understatement to say that Nigeria has a harsh business environment. It is more than harsh, it is predatory and sadistic, to say the least. Sorry I am not blaming everything on the Pandemic. To cut a long sad story short, I paid a rent of 1.6m in a small shop somewhere in the FCT and shortly after that, the lock down started. I had no option than to pack my kaya out of the shop at the skeletal resumption of activities and the uncertainties of stable continuity in the face of the global pandemic vis a vis the kind of items I sell (switching to another kind of trade, on the tides of the realities of the pandemic is also not easy without some funds). I have also asked for a refund of half the sum unexpired residue, but landlord said until someone occupies ad pays; non till now.

I had approached the National Microfinance Bank for the so called Palliative loan from CBN but the experience is not what I want to bore you with. I also approached a commercial Bank I started banking with since 2013, but the conditions they gave me are just jaw dropping in the negative sense. The finance houses that I described as money lenders are not even in focus as their interest rates are just killing.

Business in Nigeria is quite a herculean task, entrepreneurship is by divine providence if one should tell himself the truth- I mean starters like us, don't get me wrong. Ideas are dead and frozen, not an inch encouraged. Many that flourish in their stuff have benefactors that are looters and shady practitioners of sorts. The banks run after the already wealthy and even beg to give them more credit without documentations. It is quite cheaper and safer for them in a country where a barber may not see 5 hours electricity to power his clipper while the basest politician lives in Nigerian Dubai. A clear depiction of dysfunctional society!

What more can I say? I think it is time to start asking the right questions. It is really terrible business wise around here.

Tell us the business you are doing. Some of you money miss road knows nothing about business,you hear people talk about the advantages of been your own boss and you joined the band wagon.
1.6million for rent,how much did you plan to make as profit a month for you to go for 1.6m rent? To be viable,you should make at least N300k as profit monthly,that is deducting your monthly expenses from income,you should be left with 300k above for you to be paying 1.6m per rent. Some of you are just unbelievable. What business are you doing? What are you selling? Let us know. Unless this is audio,a man prudent enough to labour and have almost N2m for rent won't pack up his shop because of 2 weeks lockdown. You don't sound as a typical business man to me. A true business man values every kobo, for him to rent a shop of almost 2m he will be so balanced financially that even a 2 month lockdown won't shake him.

espn:
OP if everyone starts talking no be here oo...In our country the rich becomes richer while the poor becomes poorer. I have given up on most of my dreams...

Sad for you. Your younger self will be ashamed of what you grew up to be.

Greatzeus:

Tell us the business you are doing. Some of you money miss road knows nothing about business,you hear people talk about the advantages of been your own boss and you joined the band wagon.
1.6million for rent,how much did you plan to make as profit a month for you to go for 1.6m rent? To be viable,you should make at least N300k as profit monthly,that is deducting your monthly expenses from income,you should be left with 300k above for you to be paying 1.6m per rent. Some of you are just unbelievable. What business are you doing? What are you selling? Let us know. Unless this is audio,a man prudent enough to labour and have almost N2m for rent won't pack up his shop because of 2 weeks lockdown. You don't sound as a typical business man to me. A true business man values every kobo, for him to rent a shop of almost 2m he will be so balanced financially that even a 2 month lockdown won't shake him.

U nailed it,no where is business an easy thing.they all want to make fast money.1.6m for rent,what are you selling or what service is he rendering.

1.6 M for rent, what kind of business were you running ?

In Nigeria now, the only business thriving excellently well is the corruption industry.

Its best you use your money to trade, open pos shop in strategic areas, restaurant, food stuff business, etc etc.

Doing Business in Nigeria is not for the faint hearted, you will shed tears.

WakeNbaked:

What do you expect with this mindset.

The bank is someone else's business likewise, even when your friend the guy wey no from childhood reason you Sai make you loan am something make him start one small hustle, you dey give am just like that without any hesitation? And you expect a billion dollar company to give everyone that ask loan money just like while hoping they succeed? Be real dude.

Yes the country is not working, hut those bitchy reasons you have up there ain't it.

Save and investment, dey go also follow you come house dey beg you with loans.

The thing is that most people that have money and want to venture into one business or the order don't really put both positive and negative factors into consideration.
The shop rent self as a starter was too much though I don't know the kind of business you ventured into.