(5) Reasons 8 Out Of 10 Businesses Fail And Workable Solutions You can Apply!

According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn.

But why? What can we learn from the colossal amount of failure with small business that we can apply to our own business aspirations?

 Thus I give you 5 reasons for failure and more importantly, what you can do to avoid it happening to you:

N40 Billion AfDB Facility for Nigerian SMEs

A total of $200 million (about N40 billion) is coming to Nigerian micro, small and medium enterprises ( MSMEs) through two financial institutions at $100 million each.

The Bank of Industry (BoI), has secured a $100 million (about N20 billion) line of credit from the African Development Bank (AfDB). The funds are needed to aid its development financing objectives, especially to Small and Medium Enterprises (SMEs).

Attend The Youthpreneur Business Summit And Stand A Chance To Win N500k For Your SME

The annual YOUTHPRENEUR BUSINESS SUMMIT brings together innovative and ambitious youths to inspire and challenge one other in entrepreneurial approaches to Nigerian economy. The project focuses on learning, sharing of ideas and mentoring for young entrepreneurs between 18 and 35 years.

SMEs need alternative energy to boost employment

Small and Medium Enterprises need alternative power supply to boost employment and economic growth as Nigeria moves towards addressing its power deficit, the Chief Executive Officer of London-based Contec Power Systems Limited, Mr. Srinivas Ppilla, has said.While emphasising the importance of power supply,

Attracting financing: Investment and funding opportunities for Nigerian SMEs

As oil revenue dips, economist have claimed the country is technically at a point of economic recession. Several indicators such as poor power supply, pipeline vandalism, lingering fuel scarcity and forex shortages and trade and import restrictions are quoted to be responsible for the economic malaise.

How to start a business with little or no funding

So you tried everything and asked everyone, but nobody offered you a loan? Well, do not despair; others have started businesses in similar circumstances. Starting a business without outside funding is known as bootstrapping. In bootstrapping, the entrepreneur uses his or her personal savings, overdraft, or bond on their home.

SMEs fret over likely increase in VAT

Small business owners are bracing for a tougher operating environment as they fear the Federal Government will increase Value Added Tax (VAT) to shore up dwindling revenue from crude oil.  Some of them have expressed concerns that the current tax system is costing much as they grapple with scarce foreign exchange (forex) to do business.

Building MSMEs to last in Nigeria: Insights and opportunities

SMEs are considered the engine room and heart of any nation, they are a major contributor to the drive to industrialize any economy through the production of goods and services and creation of employment, and they are also engaged in skill development and improvement of manpower.

How to get funds for your business

Turning great Ideas into great money Have a great business idea is only the first step in  the journey to raising your business empire. Turning your business idea into a money- making venture requires raising the capital necessary to get your blessing running and that represents the next step of thousands of other steps. In starting your own business, the most challenging task you have to face as an entrepreneur is raising money as capital.