Imagine you buy goods of #12,000 with the hope of making profit of #300 after sales you end up buying the same goods for #15,000

You're making loss not profit cause you cannot buy the same quantity of goods you sold with the capital+ profit you made

This hyperinflation in Nigeria is killing small and medium scale businesses

I'm asking small business owner how are you coping in this economy?

...
Seriously I don't know how they are surviving..

It's super crazy. U buy a product, u sell plus your markup, u go to market again to restock, only to discover that the new cost proce is higher than your initial selling price(cost price+profit)

In those days,companies can go a whole full year without increasing prices. But now,na like every month.

In all,na the average common consumer I pity for..

Hehehe.

The situation is not funny.

Do you know that before most people sell things to you today they will first make calls to their supplies to know the current price.

Prices are going up geometrically,the level of inflation is alarming.

At these rate,most business will find it difficult to stay afloat.

Hmm
Many people run their small businesses at loss. There is no logic to it. They only hope for a better tomorrow which might never come.

Someone like me have to tell my old man to quit his business as it is always from one story to another.

It's so unfortunate.

I don't even understand how this government plans to fix this mess.

It's really hard for us

Re
It is survival of the fittest now. Only the strong get moving, the weak are gonna be swallowed by the strong.

This harsh economy is something else...e be like dem send Tinuubu to come destrôy this country. And the fact that everybody is calm and behaving like all is well is truly surprising. Tinuubu must be a strong man..I fear who no fear him.

Omo e no easy o. My friend who has 2 bet9ja shops has closed.

He told me that power supply in his area this January is so bad and he couldn't afford to be buying fuel at over N600 per liter on top of how much commission?

At most bet9ja would be paying 30-50k commission per week if he has good sales, and he's spending that same amount on fuel every week, how would the business flourish.

This economy is really killing businesses.

And the way things are going it seems like the worst is yet to come and it's so scary.

Imagine things getting harder than already is the dollar might even get to 2,000 before August

God abeg o

It's not funny at all.......

Tax Clearance alone go humble u
Pencom Clearance na new car be dat
Nsitf sef don add 30k join to collect certificate
ITF Sidon dey wait you with dia bombastic eyesight

God save all Contractors and Consultants o.....

Tunubunomics na witchcraft......

It's really bad, I am in the pharmaceutical industry, it's affecting us badly, the prices of drugs is never stable. Making what ever profits made eroded. I don't even know who to blame again The government or the Big players.

There can be only one coping mechanism... Adjust your prices according to the inflation level.

When people can no longer afford what you are offering, you dissolve the business and join them.

They simply raise the cost of goods and services in order to adapt to the rising tide of inflation.

Here to read comments

It is so difficult out there, even the buyers are complaining of everyday increase of commodities..

We just pray that we have a better leader that will take us through the long suffering..

This hyperinflation will kill SMEs because it will be hard to cope with ever ever-increasing prices of commodities

It's really killing businesses

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Watch video

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I thought they say Tinubu build Lagos, what's going on?

Nigeria is like a cancer.
It is easy to blame current and immediate past administrations when the real damage was done in the70s, 80s and 90s. The only civilian president that could have effected some real change was Obasanjo and he failed woefully.


The people who made Nigeria like this have absolutely no business with SMEs so they don't care. Their families buy their food stuff in bulk so they don't understand the daily increase for those who buy what they cook daily. Nigeria is f***ed. Just do your best to make money and ensure your family is well. If you are waiting for government, you will die waiting.

The one wey we dey do for ourselfs even pass the one wey government dey do.
Consumers bear the increase in capital and the profit too.,prices have already been increased before sellers get to the market
You buy market 12k,you hear say market don increase and immediately you change the price of the one wey u buy for 12k.then you go to the market with customers money and you still come back and sell to the same customers at higher price.if you find another way to increase your capital like you find your initial capital,i think the burden will be lesser on the buyers.
Then if there is 200naira increase in the price of a carton of indomie for example,you increase the price of one indomie by 30naira,if you multiply 30naira by 40 in a carton...you know who is killing who.

U can't never make a list to go to the market anymore in Nigeria.

And some idiots out there still support this useless govt as if they themselves aren't suffering.

Common palliative,many of their parents haven't been paid,but they will be here shouting "he knows what he is doing "what is he doing that,almost everyone is suffering?

Oni agbara

Just that they move some ministries to Lagos & the North was crying.
Wetin go happen to the North when we break?

It shows the power the South has but scared to wield it.

Let's even leave inflation talk for now and focus on this insecurity because I am scared of even stepping out of the house. The rate of insecurity is at record high

Just get multiple streams of income...
Reduce Your expenditure.that's All