Is it easy as they say, to start a business in Nigeria.

[Axis]

In as much as Nigeria is considered to be the home of local businesses it can be said that it is not easy to establish and manage business in Nigeria due to some certain rising factors and reasons. We can all testify to the fact that Nigeria is blessed with a whole lot of capable and willing individuals who are ready unable to establish and manage businesses. But due to one Factor or the other there are not able to establish the kind of business they intend to. The lack of funds and sufficient capital is definitely one of the main reason people are not establishing businesses in Nigeria. Second of all due to the increased cost of production and the increased cost of establishing businesses, majority of individuals have been hindered or obstructed about their intention to establish an own businesses. Another possible disadvantage facing the business sector is the lack of government interest in the welfare of the business sector.

Capital projects in Nigeria channel to help existing and growing businesses to flourish usually take years to complete, and most of this capital projects and infrastructural amenities are not even belt at all due to the lack of governmental interest. Nigeria which is currently at the brim of recession and inflation, has totally made it inconvenient for individual to establish businesses and also existing businesses are finding it hard to maintain business stability with their available amount of resources. Foreign investors are no longer concerned establishing businesses in Nigeria, due to high tax imposed by the government on foreign investment in Nigeria.

 

[TOZZIBLINKZ]

Establishing a business in Nigeria can totally be very interesting due to the vast land that can accommodate any kind of business establishment and also the large availability of labour in which an individual can totally employed in order to make sure that goals and objectives have been achieved in the business organisation in which is to be established. However despite all these there are so many other negative factors faced in Nigeria after businesses are being established like the lack of infrastructural amenities such as roads and other transport system that can totally assist and help the movement and transportation of raw materials and finished goods possibly from where they are being excavated and produced from where they are to reach the final consumers or to be changed into finished goods.

Businesses in Nigeria are also facing governmental inconsistency in the welfare and existence of businesses in the sense that there is no business banks as well as business financial institutions that can help existing businesses and individuals intending to establish businesses to have free access to funds to facilitate the intention of business establishment.