When you have an idea for a business two things often happen: either you rush right into it, driven by the adrenaline of having the original idea or you stop before you even start, overwhelmed by the daunting task of getting off the ground. It’s important that you find a balance, to give you the … Read more
One of the ways for a business owner to quickly achieve their entrepreneurial goals is to get access to a soft or an interest-free loan, but most of the financial institutions around the world make a profit from interest on a credit facility. However, some financial institutions in Nigeria are gradually embracing Islamic tenets of … Read more
The Corporate Affairs Commission (CAC) has officially added Limited Liability Partnerships (LLPs) And Limited Partnerships (LPs) And Deployment Of The Registration Solutions On Company Registration Portal (CRP) This is a follow-up to the announcement of the commission on August 19 that it would be adding registrations of two new forms of business in Nigeria provided by … Read more
From wigs to weaves and hair extensions, the human hair importation business in Nigeria is more profitable than you think, most especially if you connect with the right foreign suppliers and master the secret of digital marketing to drive tones of sales. One of the major reasons why the beauty industry is cool is that … Read more
Most times, small business owners are preoccupied with their daily multi-tasking activities, thereby ignoring or paying less attention to record-keeping. Of course, an SME owner isn’t a superman or woman, yet the same proprietor is the accountant, stock keeper, manager, and driver. But ignoring to keep a financial record could be detrimental to the long-term … Read more
The cost of registering an NGO in Nigeria is between NGN120,000 to NGN150K, depending on the agent that handles the registration for you. In a case where you get the time and have a perfect understanding of the process, you would spend less. If you are planning to register a Non-Governmental Organization in Nigeria, your … Read more
It will cost you at least N25,000 (about $18 USD) to register your business name in Nigeria through an accredited agent of the Corporate Affairs Commission, but you may not need the services of an agent if you can follow the guidelines and instructions set by the commission. If you register yourself, you will save at least … Read more
Access Bank recently says it has over 70,000 as agents spread across Nigeria, disclosing that its aim is to reach unbanked and under-banked millions of Nigerians in communities and cities. What are the requirements to become Access Closa Agent in your community? Do I need millions of naira to register as POS agent? For Small … Read more
In the 1990s, business owners had their tables filled up with files and record books. Those have become archaic in today’s world. Files and other important documents can be stored in the cloud and such files can be accessed anywhere on a device. The beauty of this is that there are firms that offer free … Read more
While the rate of unemployment among Nigerian youths is rapidly growing at a very disturbing pace, 19-year-old Osaruguemwen Asemota Precious doesn’t want to join the growing number. One of the entrepreneurial actions she took was to establish a makeup business. The undergraduate Medical Laboratory Science student at the Kwara State University, she set up a … Read more
In the 1990s till late 2015, entrepreneurs who operated current accounts for their businesses paid returns on such accounts, it was called Commission on Turnover (CoT). That has changed as the Central Bank of Nigeria (CBN) replaced CoT with Account Maintenance Charges (AMC) or Account Maintenance Fee in its Revised Guide to Bank Charges that … Read more
Lagos State Micro, Small, and Medium Enterprises (MSMEs) is likely to be the biggest in Nigeria if the state government continues with its present support for small business owners. While Lagos continues to support SMEs, one of Nigeria’s banks also has a programme for small business owners where they can showcase their ideas and received … Read more
Things are not always rosy as you think for all business owners, some of them struggle with how to pay off debts. I got to know this through a lady who shared the challenges her husband is facing. “My husband has been working for the past seven years, he earns well, but he uses the money … Read more
As a student, there are businesses you can start on campus that require little capital. There are even some of them that only require your creativity. You need to understand starting a business isn’t only for those who already have financial freedom, students can start small businesses on campus even with little savings from their … Read more
I asked 10 young graduates about the most challenging thing in starting a business, six of them said funding, the rest picked other reasons. This isn’t peculiar only to young graduates who want to set up a business because the government has failed to create jobs. And every successful business owner faced the problem of … Read more