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Nairaland Forum / Nairaland / General / Business / How Do Business People Cope In This Harsh Economy? (12993 Views)
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Re: How Do Business People Cope In This Harsh Economy? by Jamie1000: 11:51am On Jan 26 |
Is it only Business ppl? How are salary ppl surviving? How's the average Nigerian surviving? Nigeria is not for the weak. Even the rich are in survival mode. 9 Likes 1 Share |
Re: How Do Business People Cope In This Harsh Economy? by nnewsnjobs: 11:52am On Jan 26 |
Is not really easy for them, but at the end it is consumers that bear the cost. I remember when I went to buy some fittings for my house, the shop owner was virtually calling someone from Alaba to know the current price before he can tell me the price and the thing keeps on repeating even for a very small item of #300, I was so annoyed. If not that I have been buying from them and I know he is the shop owner, I would have thought that he doesn't know the price of anything in the shop. Before now, such thing doesn't happen and they (him and his workers) know the price of everything in the shop off hand. 6 Likes |
Re: How Do Business People Cope In This Harsh Economy? by chucks185: 11:53am On Jan 26 |
Paracetamol01: shut your mouth kid!. you think it's easy right? 9 Likes 1 Share |
Re: How Do Business People Cope In This Harsh Economy? by cybernaut(m): 11:53am On Jan 26 |
I want dollars to increase to 3000 thousand and above , so that things will be very hard for every average Nigerians that can lead to no buying no selling and we pick offensive revolution and send these evil men packing . The only solution to these is REVOLUTION and no too ways about it . DOLLAR is now 1400Naira which way Nigeria 3 Likes 1 Share |
Re: How Do Business People Cope In This Harsh Economy? by dammywapes(m): 11:54am On Jan 26 |
This thread is for me so let me comment , I run a football viewing center and am on dstv collective subscription i have to loan out one of my 3 dstv decoders in order to pay multi choice less in a month and earn more. No one advise me on this. 3 Likes |
Re: How Do Business People Cope In This Harsh Economy? by Pootle: 11:56am On Jan 26 |
weytin eye dey see e no fit talk but men still mount cos me nd famz must survive 3 Likes |
Re: How Do Business People Cope In This Harsh Economy? by seborrhic: 11:57am On Jan 26 |
Skyfornia:Baba,that is the most fearful,not even surprising thing. Dollar is almost 1500 from the 600 he met it. Transport cost public and private if u are driving your car(even worse for private owners now) has gone haywire. Inflation is beyond the roof causing houserents,school fees,cost of providing even 1 meal a day a herculian task and yet nobody seems bordered,even online,it's just murmurs! That's why people ask,"who do us like this"? This is a very crazy country to live in at this point.Even Japa now has become unaffordable for many,yet nobody is much as voicing out frustration. 7 Likes 2 Shares |
Re: How Do Business People Cope In This Harsh Economy? by gforce5: 12:01pm On Jan 26 |
People are gradually waking up lol. It so funny when I read numerous posts on this forum about setting up a business in Nigeria. "Don't JAPA, set up a business in Nigeria", "stop working for people and be self-employed", "with N1 million, you can set up any business in Nigeria". Like it's that easy. If it was that easy to set up a business in this country, many multinationals would not be relocating their offices to Ghana and other African countries. The business environment in Nigeria is one of the harshest in the world and only the strong can survive. The money you pay for diesel, rent, importation, transportation of goods, tax and bribes has killed so many SMES in this country. On top of that, the banks don't give favorable grants/loans to small businesses. As it stands now, if your business is not a necessity like food, water and other essential products, your business will struggle because many people are cutting costs. Even the elites are reducing their expenses. 20 Likes 3 Shares |
Re: How Do Business People Cope In This Harsh Economy? by Sylva2147: 12:01pm On Jan 26 |
The question should be how do salary earners cope with this inflation? 2 Likes |
Re: How Do Business People Cope In This Harsh Economy? by pacificom: 12:01pm On Jan 26 |
I am an importer and can tell you that we have seized importation due to the surge in dollar rate. There is no how you can make any profit when exchange rate stands @ N1,410/$ . The bad financial time is the reason why prices of commodities keep rising outrageously, Meanwhile there will come a level where prices will reach peak that Nigerians will not be able to afford product anymore. Government should do something urgently to safe SME institutions from collapsing totally 3 Likes 1 Share |
Re: How Do Business People Cope In This Harsh Economy? by Think9ja(m): 12:01pm On Jan 26 |
Nice2023: Support him or not Hate him or like him, he's your president (our) president until 2031. What that means is that you have 7.3 years to gnash wail Inugo? |
Re: How Do Business People Cope In This Harsh Economy? by akinsmail51: 12:03pm On Jan 26 |
I have stepped aside from any serious business that involves buying and selling. Now, it's time to focus on service provision as a means of earning livelihood. The ease of doing business is fast becoming evasive in our dear country 3 Likes |
Re: How Do Business People Cope In This Harsh Economy? by ufotunang: 12:04pm On Jan 26 |
The solution is for the government to provide a conducive environment for bussinesses to thrive... government to provide constant electricity light supply, address the issue of multiple taxation... bussinesses need fair and favourable tax payment and system, to strengthen the naira and make the naira have more value against the dollars, good roads , refineries to work ..so that fuel, disel can be cheap and affordable, business to have easy access to grants and loans and single digit interest loan repayment |
Re: How Do Business People Cope In This Harsh Economy? by Procashtips(m): 12:04pm On Jan 26 |
Skyfornia: South West control the media in this part of the world and since it's their person, they rather suffer in silence than call him out. 1 Like |
Re: How Do Business People Cope In This Harsh Economy? by Olawade24: 12:06pm On Jan 26 |
Emeskhalifa: In case you intend selling the blog let me know. |
Re: How Do Business People Cope In This Harsh Economy? by Nice2023(m): 12:08pm On Jan 26 |
Think9ja: People like u are the reasons why we can't differentiate between mad men and road side mechanic. Wetin concern me...u can check me up privately,I am not even a poor man. My historical posts is enough to convince u. May u not quit in supporting evil men and so shall their evil not also depart ur household. I speak for those who have no means and not those who are being spoon feed. 14 Likes 2 Shares |
Re: How Do Business People Cope In This Harsh Economy? by Bluffly: 12:15pm On Jan 26 |
Having parallel currency/BDC market is a great undoing from the unset cum government insincerity to forex allocation and management |
Re: How Do Business People Cope In This Harsh Economy? by Jamie1000: 12:17pm On Jan 26 |
chucks185: Like it's easy to raise capital. To even raise 1m in a year is very difficult 5 Likes |
Re: How Do Business People Cope In This Harsh Economy? by Paracetamol01: 12:23pm On Jan 26 |
Scholace:having a skill is the most important thing 3 Likes |
Re: How Do Business People Cope In This Harsh Economy? by vastolord4(m): 12:24pm On Jan 26 |
Lanretoye: It's either you didn't receive economics tutoring in secondary school or you're just a pure olodo 1 Like |
Re: How Do Business People Cope In This Harsh Economy? by jericco1(m): 12:26pm On Jan 26 |
Things are generally on the high side |
Re: How Do Business People Cope In This Harsh Economy? by Paracetamol01: 12:27pm On Jan 26 |
chucks185:I am seeing Laziness in you. You just sit down and do thing and spend money |
Re: How Do Business People Cope In This Harsh Economy? by NGArmyTerrorist: 12:31pm On Jan 26 |
Some businessmen and women are going through a lot. Any shift in prices, customers go hala like say na the sellers increased the prices. Every week, new prices.. 2 Likes |
Re: How Do Business People Cope In This Harsh Economy? by Lifemanage: 12:32pm On Jan 26 |
chidooh1:To the question, deepen the use of local source of raw materials. Instead of rearing poultry, go for goats and dogs. Rear Cows in ranch system |
Re: How Do Business People Cope In This Harsh Economy? by Lifemanage: 12:34pm On Jan 26 |
chidooh1:We need to localise the economy...dependence on foreign inputs is the reason it is affecting business owners |
Re: How Do Business People Cope In This Harsh Economy? by Maxtipulation(m): 12:36pm On Jan 26 |
I 💕 Tinubu 1 Like |
Re: How Do Business People Cope In This Harsh Economy? by IbeOkehie: 12:39pm On Jan 26 |
gforce5: Please don't tell the Anti-Japa Crew, they will soon come for your head. According to them Nigeria is the best place in the world to live and thrive. Good Luck to Nigeria. 3 Likes |
Re: How Do Business People Cope In This Harsh Economy? by skj1377(m): 12:39pm On Jan 26 |
It's not funny. Am into production, I buy like 17 different raw materials to produce so you can imagine 17 materials changing price like crazy. Well we thank God. 1 Like |
Re: How Do Business People Cope In This Harsh Economy? by CHARLOE(m): 12:40pm On Jan 26 |
ChatterHouse: Businesses are folding up; smes, multinational etc cost of running business, most esp cost of diesel (over N1200) is prohibitive. Coupled with d weak naira, high cost of fuel n insecurity, there's chronic epileptic power supply, only a few highbrow areas have up to 12hrs light daily. My area has not gotten up to 24hrs light in d last 2months!. Tinubu is making buhari look like a genius, d baba is putting Nigerians thru so much suffering, inflation is per day, naira keeps crashing on a daily . Things can't continue like this, Nigerians rise up n demand good governance, accountability etc. For d tribalists; There are only 2 tribes in Nigeria; d oppressed n d oppressor: which tribe do u belong? 5 Likes |
Re: How Do Business People Cope In This Harsh Economy? by Mo6M: 12:41pm On Jan 26 |
Its true, but the idea of selling the goods you bought at a rate to complement the next you want to buy is called high greed. For double gain. Its the next one you are going to buy going to be sold at the old rate.... 1 Like 1 Share |
Re: How Do Business People Cope In This Harsh Economy? by Lucas4903: 12:49pm On Jan 26 |
Draslo: You guys are quick to label the economy as harsh. But if it is to get 4million or 10million or 25million to japa, u will find it from the harsh economy. Do you for a second think about genuine Naija students all over the world whose school fees are being paid from the harsh economy. The international community sees us as a joke but not our government. The economy is harsh but flights are going in and out of Nigeria like it’s nothing. You might wanna think about the harsh economy again. 2 Likes |
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