Since 2007 up till now I noticed some businesses that failed woefully either because of a change or wrong information. Here goes the list.

Cybercafé business: Due to the introduction of modems, CDMA etc people no longer visit the cybercafé as before. I’ve seen lots of cybercafés close down either because of low patronage or expensive running costs of fuelling, packet data subscription etc.

Forex Trading: Many people lost fortunes in the process of trading Forex, most people who teach Forex do not even understand the business. While the blind leads the blind they all keep falling into a pit. Although Forex trading is a profitable business, So many people fail woefully in Forex trading.

Stock Trading/Buying of Shares: The recession had a terrible blow on most stock traders, the impact is still felt till today, buying of shares do not seem to be a smart idea anymore. Though there is nothing that goes down that won’t go up, who wants to take the risk.

I also think if you have any other business to add to this list, its good to share with all nairalanders