Connect with us

E-Business

6 Ways to Minimise Startup Risks

Published

on

Kindly share this post

If you are the owner of a startup, you are definitely a risk-taker. The danger here is that you may become comfortable with taking a risk that you can sometimes ignore smart and simple ways to minimise the impact of any potential failure.

In line with this, Jumia Travel, the leading online travel agency highlights seven ways to reduce startup risks. Applying this will lessen the chances of your business failing.

Diversify Your Income
You must not depend on one source of income as a business man. The reason for having multiple sources is to cushion the effect of business failure.

Save More Money
When you build a business, there is nothing more comforting than having a savings account. This will come handy when times are tough. Importantly, you should never go on a spending spree especially when your business is booming.

Do Market Research
You must never start a business without doing a market research. This is will give you an idea of your target users/audience as well as determine the sustainability of your product.

Business Forecast
You do not need superpowers to make a business forecast. There are basic things you can predict including when you are going to run out of cash, periods when turnover will slow and when you have to cut cost. If you cannot do this, you can employ an expert.

Work Hard
As an entrepreneur, you have to work round-the-clock. Despite this, you have to ensure that you do not only work hard but work smarter. In addition, you must find a work-life balance to prevent entrepreneurial burnout.

Insure Against Risks
As a startup, the last thing you will think of is insurance. This is because you are probably bootstrapping to run your enterprise. Regardless, you should still insure your properties in case the business fails. It will prevent you from losing everything.


Kindly share this post

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

E-Business

Study Reveals Software Programmers to make Full Use of AI Code Assistants

Published

on

Kindly share this post

Gartner predicts that by 2028, 75 percent of enterprise software engineers will use Artificial Intelligence (AI) code assistants, up from less than 10 percent, currently.

According to a Gartner poll of 598 global respondents conducted in the third quarter of 2023, 63 percent of organisations are now testing, deploying, or have previously implemented AI code assistants.

AI code assistants provide for more capabilities than only code development and completion, notes the research firm.

According to Gartner, the use of AI code assistants can lead to higher work satisfaction and retention, resulting in lower turnover costs.

Philip Walsh, senior principal analyst at Gartner, comments: “Software engineering leaders must determine ROI and build a business case as they scale their rollouts of AI code assistants.

“However, traditional ROI frameworks steer engineering leaders toward metrics centred on cost reduction. This narrow perspective fails to capture the full value of AI code assistants.”

Gartner notes that software engineering leaders must “reframe the ROI conversation from cost reduction to value generations”.

Walsh adds: “Calculating time savings on code generation is a good place to begin building a more robust value story. To convey the full enterprise value story for AI code assistants, software engineering leaders should connect value enablers to impacts, and then analyse the overall return to the organisation.”

 


Kindly share this post
Continue Reading

E-Business

New National ID Card to Be Issued Via Banks- NIMC

Published

on

Kindly share this post

National Identity Management Commission (NIMC) has said that the planned national ID card will be issued to applicants by their banks.

New National ID Card to Be Issued Via Banks- NIMC

NIMC said it is working with the Nigerian Interbank Settlement System (NIBSS) to deliver the cards to applicants.

“The card will be issued through the applicants’ respective banks in line with existing protocols with the issuance of the Debit/Credit cards,” the agency said at the weekend update on its official X handle.

KEY FACTS ABOUT THE PROPOSED NEW GENERAL MULTIPURPOSE NATIONAL IDENTITY CARD

  1. The new National ID Card is a single, convenient, and General multipurpose card (GMPC) , eliminating the need for multiple cards—not three.
  2. The single GMPC has multiple use cases:…

— NIMC (@nimc_ng) April 12, 2024

It said applicants need to request their cards with their NIN “through the self-service online portal, NIMC offices, or their respective banks”.

“The card will be powered by the AFRIGO card scheme, an indigenous scheme powered by NIBSS,” NIMC said.

“The card can be picked up by holders at the designated center or delivered to the applicants at the requested location at an extra cost to be borne by the applicants,” the update read.


Kindly share this post
Continue Reading

E-Business

NIMC Makes Clarifications on AfriGo, New National Domestic Card Scheme

Published

on

Kindly share this post

National Identity Management Commission (NIMC) has said that the new national Identity card, powered by AfriGo Card, is a single card with multiple services.

NIMC Makes Clarifications on AfriGo, New National Domestic Card Scheme

NIMC made the clarification against the confusion and criticisms that have trailed the AfriGo Card , touted as a National Domestic Card Scheme.

NIMC is launching the AfriGo Card, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), and has had appointed SecureID, a Lagos headquartered company to manufacture the Card Scheme

Making clarification on the card, Kayode Adegoke, head of Corporate Communications of the NIMC, said the General multipurpose card (GMPC) will eliminate the need for multiple cards.

“The new National ID Card is a single, convenient, and General multi-purpose card (GMPC), eliminating the need for multiple cards—not three.

“The single GMPC has multiple use cases: Payments/Financial, Government intervention/services, travel, etc.

“The National Identity Management Commission is working with the Central Bank of Nigeria and the Nigerian Interbank Settlement System to deliver the payment and financial use cases.

“The card will be powered by the AFRIGO card scheme, an indigenous scheme powered by NIBSS. Applicants for the card will have to request with their NIN through the self-service online portal, NIMC offices, or their respective banks.

“The card will be issued through the applicants’ respective banks, in line with existing protocols with the issuance of the Debit/Credit cards.

“The card can be picked up by holders at the designated centre or delivered to the applicants at the requested location at an extra cost to be borne by the applicants,” he said.

 

 

 

 

 

 

 


Kindly share this post
Continue Reading

Trending