TOZZIBLINKZ
VIP Contributor
In one article written back in the year 2013 it is said that Africa is the Homeland of small and large scale businesses. To some extent this is definitely true, but if we are to dig deeper we would come to see that there is a whole lot of challenges, demerits, as well as disadvantages surrounding and affecting business existence and business startups in Africa. More specifically countries in West Africa are facing a whole lot of challenges during startups, some of these possible challenges include:
* Infrastructure: an individual is totally possible to think that the only problem facing business start-ups and business existence in Nigeria is the lack of sufficient and adequate capital, however another major problem is the lack of infrastructural amenities by the government to businesses. Most Nigerian roads needed for the transportation of raw materials and finished goods are not built. Water and air facilities, that should aid or assist the transportation of perishable and bulky goods from one place to another, are not provided in sufficient amount, thereby restricting the ability for businesses to strive.
* Inconsistent government assistance: the government of most countries in West Africa perform poorly in assisting the existence of existing businesses in the country. One of the major ways they demonstrate their inconsistency, is by not making in provision capable business banks and business financial institution to issue and grant loans to business owners and young entrepreneurs who had the interest to establish businesses.
* Winning customers interest: the cost of living is definitely very high and also the standard of living is absolutely very low in most economies, however this make it very hard for existing businesses to win the interest and loyalty of customers and clients.
* Infrastructure: an individual is totally possible to think that the only problem facing business start-ups and business existence in Nigeria is the lack of sufficient and adequate capital, however another major problem is the lack of infrastructural amenities by the government to businesses. Most Nigerian roads needed for the transportation of raw materials and finished goods are not built. Water and air facilities, that should aid or assist the transportation of perishable and bulky goods from one place to another, are not provided in sufficient amount, thereby restricting the ability for businesses to strive.
* Inconsistent government assistance: the government of most countries in West Africa perform poorly in assisting the existence of existing businesses in the country. One of the major ways they demonstrate their inconsistency, is by not making in provision capable business banks and business financial institution to issue and grant loans to business owners and young entrepreneurs who had the interest to establish businesses.
* Winning customers interest: the cost of living is definitely very high and also the standard of living is absolutely very low in most economies, however this make it very hard for existing businesses to win the interest and loyalty of customers and clients.