How To Start and Run a Business in Nigeria

If you don't Nigeria to be relevant in any other fields of life, just know that when it comes to business activities, the country is more of an asset. 

In some of my previous articles on business growth and development in Nigeria, I'd establish that one of the major asset that makes business to blossom in this country is the huge population density, which i consider an asset for the nation.

External investors from all countries are now coming into africa, specifically Nigeria to start a business because their profit is guaranteed.

A country with more than 200 Million people is working with such a flexible business economy and you too can be one of those that are committed to making this country's economy work by starting a business.

You might not know how to start a business in Nigeria, especially if you have not been into the economy system before.

But you don't have to worry; that is why we write about it, so as to give you a first hand information that can empower you with ll you need to know before you start a business in Nigeria.

Some giant companies in the world, saw the future of Nigeria business economy and invested into it while others were making complains, a good example is MTN NIGERIA. This is not a Nigeria owned company but  they have succeeded in Nigeria to the extend that majority of Nigeria currently survive using their telecom service daily.

So you can see the sky is just the beginning, the world richest black man - Aliko Dangote also originates from Nigeria by simply doing his business (Selling commodities and food stuffs) and he's on top in his business and finance.

Now that i have open your eyes to some of the potential that lies in investing and starting a business in Nigeria; i would love to emphasize on the technicalities and how you can easily make your business work in Nigeria;

1. You Must Grow a Business Ideas For Nigerians :

  You must start up your business with a potential business idea, this is very important and non-negotiable, you just have to come up with a business idea that you know Nigerians will embrace, if you start an Italian business here, you might not find an Italian to patronise you, so you must start up your business with an idea that you know Nigerians will love, and the kind of business that as been working here already, Agriculture is one of the best most promising sector of this nation, so you can easily stat a business in the agricultural sector in Nigeria.

The types and kinds of business idea you must run with; are the businesses you are passionate about, this is very important, it's like a fuel that will keep you going always! PASSION!

It will go a long way to help you look beyond your challenges and stay focus in business, so you must start a business you are passionate about in Nigeria.

2. Come Up With a Business Plan : 

There is no other way to secure success in your business like having a rock solid business plan, it works like wide fire, it will help you to check and balance a lot of things and it helps you to stay focus always.

Business plan s a lay down process of how you want your business to go, the pattern you want it to follow, it will help you not to spend unnecessarily, and it can be one of the best motivation to show you how much you've accomplished in your business.

Always set up a business plan before you invest your money on any business in the world. 

3.  Start Up Funds/Capital : 

This is the fuel of your business, without which you can not move, and most of the businesses today are always striving with this fund and capital issue because they fail to draw out a plan in the first place to determine how much they need, they will spend and how much will be enough to kick-start their business.

Financing any project especially business is one of the major challenges faced by anybody in the world and Nigeria is inclusive , but with effective planning, you can get funds in Nigeria to start your business, both government and individual personnel have empowerment aids in term of helping business to come up in the country.

4.  Register Your Business :

If you are really starting a business of relevance in Nigeria, then you must always have it at the back of your mind, that you need to register your business, this is so important.

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