Nigeria was the major challenge... She's made all her inhabitants very greedy, short sighted, mischievous and as a result counter productive. Agbero will extort from you, business partners will dupe you, even the police you will go to for help will first charge you (exhorbitantly) and then take sides with your offender if he has more money than you. Business inside 9ja na maleria.

buygala:
Have alternative power sources

Dont Sell on credit

Dont Sleep with your sales girl

Haa! Take am easy baba too much experience de worry you.

ednut1:
Human beings aka staff

They are worse than Nepa.

TheLionofLasigi:
Basically dealing with niggerians.

You are experienced my friend.If you hire Nigerians to work for you in a cash business, you will quickly realise that Nepa is your friend.

You will get a crystal clear practical understanding of the popular saying "Nigerians are the problem with Nigeria!".

In Nigeria:
From CAC wahala (though a bit better now) to,
2. Negative banking finance
3. Diligent and honest staff
4. Energy to keep up
5. Multuple taxation
6. Bribes, Bribes and bribes
7. Changing govt with changing regulations
8. Insecurity (was not too bad then, but now...)
9. Low purchasing power of potential customers
10. Power, power, power
11. Crooked contractors and suppliers
12. Pay small small
13. Family stepping in and you know the rest



In the US

1. I register my business on my bed, online
2. Create the website in 24hrs
3. Upload products over the weekend
Etc

The major set backs are competing priorities and staying power

Yankee101:
In Nigeria:
From CAC wahala (though a bit better now) to,
2. Negative banking finance
3. Diligent and honest staff

CAC registration was a pretty straight forward and easy process for me.

lagonovo:

CAC registration was a pretty straight forward and easy process for me.

Them don send ur forms back multiple times for minor errors, or auditor no dey on seat or them send your search e tey no commot?

iLegendd:
"It won't work," was the challenge and when I made it work, they got angry and jealous.

End of story.

Baba

Being a while

hucknall:

what is bootstraps? Isn't it a .CSS file?

There isn't always light....

Dr Martin Luther King Jr " Raise yourselves by the bootsstrap"

QAQ

Trust nobody.

When the biz is having problems dont tell anyone. If you must tell make sure these people are better than you and they can solve your problem.

Never complain about the low patronage of your business you will chase away potential customers.

Use only ten percent and below of the money you have in your life for that business and be discipled to stick to it.
Be disciplined - the hardest

Never rent a big shop while starting

Dont spend too much money packaging your start up.

Dont start with very expensive sequipments, but go for the best.

DemonInvoker:
Location,Difficulty Sourcing For Raw Materials and High Cost Of Production.

Which biz?

horladexino:
It is very frustrating when you don't have enough capital for starting business and bad location causing of low sale.
I may not earn more than #500 for the whole week to the point of thinking of begging on nairaland, I has typed the messages before I deleted it for shameless shake
I am phone repair technician and selling of accessories but making no sale is making my life to be frustrated and miserable

MY brother please ensure you have enough capital for a start up and good location if not it will end in premiums tears

Na experience things go better, add cash back stuffs to the biz.

OmovuduTheBeast:


ABEG MAKE WE HEAR WORD

NA OPATA YOU DEY YARN!

PLS SANE NAIRALANDERS, MAKE UNA POST COMMENTS MAKE I READ BETTER THINGS

He is actually in d best position to give a sound n useful advise. Ride on Mr manna, we admire n respect ur stance n contributions on this forum so much

steric58:
Low patronage, food business.

cooked food? If it is low patronage, it means you located your business where not many people pass and your business is almost not seen by eyes that needs it. In my area, there are two sides. Those at the busy junction, including food sellers, make quite a lot of money.

There is a woman that sells yam close to a filling station, but somewhat away from the busy junction, though not too far off... she was there since I relocated and she saw no reason to move her item to the busy junction which is just a stone throw away from her. 5 years and she never made any move.

Guess what? someone else from nowhere found a spot at the busy junction, has no shade to shield her from the sun but does 2X -3X the sale of the other woman who was there but never made any move.

1. The Junction is busier but the first woman saw no need.
2. The first woman like to pray a lot too when it is just common sense that she requires to change her situation.
3. Leave your comfort zone... Good Money is not found in the place of comfort.

slimthugchimee2:
Hello nairalanders

I having a business idea that I am about to startup, I have acquired the capital and skillset ready to start small, I also have a clear cut business plan for it.

Now I just want to hear from other nairalanders the challenges they experienced when they started their business.

Unnecessary competition. You can be the inventor of the idea but as soon as 2 people enter your shop, you will see Iya ruka who has zero idea will open shop next to you. Iya bisi will open her own down the street and the competition will start. You will start selling lower than you should and your buyers will get confused.

The main challenges are in growing one.
Starting is childs play

Yankee101:


Them don send ur forms back multiple times for minor errors, or auditor no dey on seat or them send your search e tey no commot?

Nope

slimthugchimee2:


Hello nairalanders

I having a business idea that I am about to startup, I have acquired the capital and skillset ready to start small, I also have a clear cut business plan for it.

Now I just want to hear from other nairalanders the challenges they experienced when they started their business.

A clear cut business plan.... all good to hear of challenges you may not have thought of... to fail to prepare is to prepare to fail... but why would you not say what line of business so you can get relevant feedback? You wouldn't even say if it is a storefront business... an online business ... transportation or services business. I can imagine you opening a restaurant with no sign to show it is a restaurant.... no menu and expecting people to walk in to find out what kind of business ....what you have....what is the price. When the business fails blame is shared all around except you. Only you know what kind of business you have .... with this kind mentality.... I can tell you right now it is either you're catching cruise.... if not.. your business has already failed.

Nigeria only is challenging as whole 1st.

slimthugchimee2:
Hello nairalanders

I having a business idea that I am about to startup, I have acquired the capital and skillset ready to start small, I also have a clear cut business plan for it.

Now I just want to hear from other nairalanders the challenges they experienced when they started their business.

6 Small Business Problems Faced By Entrepreneurs:

Lack Of Proper Marketing.
Getting And Retaining Customers.
Money Management.
Maintaining Online Presence.
Time Management.
Social Media Management Tools.

tensazangetsu20:
I am pessimistic about business in Nigeria but if you must go on have a very big marketing budget.

Learn how google ads work and how Facebook ads work and how to use them to close sales. Also get a good location too for offline sales.

I like ur second paragraph

lack of Electricity and good road.. when that is still the major problem in Nigeria

Finance, you just keep spending quick to put things in place
Video editors

https://www.youtube.com/watch?v=aiOXMrha-08

ayenale1:
Gives a hint about your proposed business before we can shook our mouth...

Oil dey your head

I started my current business with zero naira zero kobo. You don’t always need money to start a business. My business is actually service based, we render services, so there was no need for capital. All it started with was adequate knowledge of the area, my smartphone, PC and a customer.

That first customer (a friend) referred more customers and I decided to make it a business. We’ve been on for 3 years now and we’re growing gradually. It’s not been easy, but we’ve been relentless.

What we do is procurement and import from China to Lagos.

But you are aware of the challenges in nigeria, nothing works here, unless you have wisdom.

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Icumsa45:
Bastard Nigerian scammers, everybody wan chop person

Na opportunity nah