Connect with us

News

6 Tips to Quickly Launch Your Own Business

Published

on

own biz.jpg

You have been thinking about launching your own business enterprise but the fear of the unknown grips you that you keep postponing it. You know that procrastinating about starting something can lead to regret later.

If you are in this position, it is time to stop thinking and kick off your entrepreneurial journey. Jumia Travel, the leading online travel agency shares ways you can quickly start your own business.

Simply Start
Yes, you do not have money to start a business. That is a major entrepreneurial problem that cannot be overcome. There will always be financial scarcity. But start with the little you have. Find a solution to a problem or you sell anything in case you do not know the business you want to do.

Ask Someone For Advice
Have a mentor who will guide you and who you can talk or call anytime for advice. Of course, they must be persons who are willing to share the secret of doing business with you in a Nigerian environment as well as offering assistance when you are stuck. They will also share challenges. This will stop you from giving up.

Work With Someone Who Drives You To Do More
You do not want to work with someone that is negative. Sooner rather than later, everything will collapse. Therefore, you should look for an individual who will drive you to your limit. This will prompt you to give everything to your startup or business.

Hire Freelance Workers
You do not need to hire permanent workers immediately you start your business. You can take advantage of freelancers who will also do a good job for you. The demands of freelancers can’t be compared to that of permanent workers. When your business is a bit stable, you can now engage permanent workers.

Don’t Focus On Money
For people who focus on money, they will not be patient for their business to start running itself. This is because it may take years before you start profiting from it. Invest your money and relax for it to make returns in few years. You can’t break even immediately.

Interact With Your Potential Customers
Do not be afraid to talk to your friends and potential who you know can patronise your business. Even if they do not do business with you, they know that you have a business you are running. Also, do not forget to use social media to push your business. You can go as far as sponsoring your business on twitter, Facebook or Instagram. It cost less than two dollars to do this.

 

 

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

How and Why 95 Per Cent of SMEs Die- Elumelu

Published

on

Tony Elumelu, chairman of Heirs Holdings

Tony Elumelu, chairman of Heirs Holdings, has said multiple taxations and levies kill 95 percent of small and medium scale businesses in Nigeria.

 

Elumelu made this statement while speaking at the Lagos Business School Alumni Association 2017 Alumni Day in Lagos.

 

He said five percent of the small businesses that survived after one year was a big disincentive to the nation in terms of employment creation.

 

The entrepreneur said multiple business regulation, multiple taxation and inconsistent government policies affect SMEs competitiveness and their ability to attract capital in their investment climate.

 

He said despite the multiple taxation, Nigeria remains the lowest in the world with 10 percent tax contribution to gross domestic product (GDP).

 

“It seems we have a big problem, because, with high taxation and multiple levies, it is expected we should have very high tax revenue,’’ he said.

 

He said the government should find out the reason for the discrepancy between desired growth and development.

 

He urged the government to create a more conducive environment that would encourage survival of SMEs in order to reduce the unemployment rate.

 

“Government doesn’t create jobs, it is the right enabling environment for SMEs that create jobs.”

 

He urged the government to streamline all taxation and levies across the three tiers of government to avoid the collapse of SMEs.

 

Taiwo Oyedele, head of tax and corporate advisory services, PwC Nigeria, called for the amendment of the constitution to ensure coordination among the three tiers of government and their agencies.

 

Oyedele said the multiplicity of government agencies with the same work function was becoming worrisome.

 

“You don’t need tax incentives for people to do business, we just need to remove the disincentives,” he said.

Continue Reading

News

NDDC Chairman Seeks the Use of ICT to Re-position Niger Delta

Published

on

Sen. Victor Ndoma-Egba (SAN), Chairman, Governing Board of Niger Delta Development Commission (NDDC), has reiterated its commitment to re-position the region through the development of Information Communication Technology (ICT).

He stated this when Mr Bayo Onanuga, Managing Director of the News Agency of Nigeria (NAN), and other management staff visited him on Friday in Abuja.

He said the commission had a programme whereby five optic cables were given to the region to increase internet access.

“You don’t need to be a university graduate to be an ICT guru.

“If we create ICT in the region, it will boost our economy, he said.

The chairman said the commission was also looking at the area of sport, young boys and girls could be engaged competitively.

“Today, sport is a huge industry. What one footballer earns is what a local government makes.

“It is an area that we must engage our young girls and boys competitively,” he added.

Ndoma-Egba commended the effort of the board in the development of the region so far.

“We are committed to doing things right, that is why we have the concept of the four Rs, Restructuring of the balance sheet, Reform of governance protocols, Restore the NDDC’s core mandate, and Reaffirm the Commission’s collective commitment to do what is right.’’

According to the chairman, the commission is being funded largely from proceeds from oil.

“Someday, we don’t know when but the oil will finish. If it thus finishes, Technology will make it less important.

“Today, people are talking of electric cars, while fuel pumps in some places in the world are being replaced by electric and gas pumps.

“So, we must begin to contemplate developing the region beyond oil, and to do so we have to envisage a frame work that can drive development beyond oil,” he said.

Ndoma-Egba said that the commission would set up a development bank that would guarantee development in the Niger Delta region.

According him, the advantage of the development bank is to drive big projects being embarked upon by the bank.

He said the board inherited more than 10,000 contracts, and cancelled more than N200 billion worth of contracts, because they lacked manpower.

“You see one person doing more than 50 projects, so we are trying to streamline to see that everything is balanced,” he said.

The chairman said the commission was a regional development agency that guarantees transparency, which calls for synergy to share responsibility with other stakeholders in the region.

Ndoma-Egba also pledged that the commission would continue its collaboration with NAN, adding that there was no doubt NAN was keeping up with technological trend in the world.

He urged NAN to continue to collaborate with the commission in its efforts to develop the region.

Continue Reading

News

Africa’s Renewable Energy set to Soar by 2022 – IEA

Published

on

Paolo Frankl, head of the renewable division at the Paris-based International Energy Agency (IEA), has said that strong demand is set to give a huge boost to renewable energy growth in Sub-Sahara Africa over the next five years, driving cumulative capacity up more than 70%.

From Ethiopia to SA, millions of people are getting access to electricity for the first time as the continent turns to solar, wind and hydropower projects to boost generation capacity.

“A big chunk of this growth is hydro because of Ethiopia, but then you have solar … in SA, Nigeria and Namibia, and wind in SA and Ethiopia as well,” said  Frankl.

He forecast installed capacity of renewable energy in the Sub-Sahara region almost doubling from around 35GW now to above 60GW given the right conditions.

Ethiopia has an array of hydropower projects under construction, including the $4.1 billion Grand Renaissance Dam along the Nile River that will churn out 6 000MW upon completion.

“Africa has one of the best potential resources of renewables anywhere in the world, but it depends very much on the enabling framework, on the governance and the right rules,” Frankl said at a wind energy conference.

The transition to a low-carbon trajectory to reduce harmful greenhouse gases is creating opposition from the coal industry and fuelling uncertainty in countries where job creation was linked to coal mining.

In Africa, this tension and its impact on new investment have been best illustrated by SA’s state-owned Eskom and its reluctance to sign new deals with independent power producers, according to analysts.

 

“The continent has a lot of potential, but the problem is financial and political issues, so all of our projects are being delayed for quite a long time, like with Eskom,” said Mason Qin, business development manager for southern and eastern Africa at China’s Goldwind.

Continue Reading

Trending

Copyright © 2017 Communication Week Media Limited.