Ask anyone running a small-scale business in Nigeria and they will tell you the word ‘small’ is only an adjective, that they also encountered small business problems that are huge at times. There are so many small business problems. As a small business owner in Nigeria, it takes guts and willpower to build an effective business.
Small business problems in Nigeria
Here are some of the small business problems in Nigeria and how you can resolve them:
- Small Business Problems: Lack of funds – Micro businesses need funds to nurture their mini-business to a large one. Unfortunately, most mini business holders in Nigeria don’t even have an idea of where to get funds to make their business grow. You can discover numerous ways to get funds for your business or check these different establishments that offer to fund small businesses.
Read Also: 6 Benefits of Small Business in Nigeria
- Small Business Problems: Poor Online presence – Online presence isn’t just for large-scale businesses. Online presence is for everyone. However, small businesses in Nigeria are not taking full benefits of this, perhaps because they are certain that being online will be so expensive. There are other cheap ways for small businesses in Nigeria to have an excellent online presence. An example is VConnect through business.vconnect.com allows small businesses in Nigeria and Ghana get an online presence.
- Small Business Problems: Poor Marketing Skills – Most owners of small businesses in Nigeria don’t have time to study the nitty-gritty of marketing because of the various things they have to juggle. You can subscribe to Nigerian entrepreneurial blogs to be updated with the modern industry trends.
- Small Business Problems: Getting new customers – All business requires new customers, but the customers that matters are customers that come often because they are willing to spend more than a customer that’s coming for the first time. Make sure you follow up with your customers and cheer them to come back with incentives like special discounts and even memberships.
- Small Business Problems: Seeking rapid growth – It is necessary to put structures in place that will assist you in meeting your demand while sustaining a high level of quality. You need to possess a company culture that holds quality in high esteem. This will allow your business to flourish as a brand that you will be proud of sooner or later.