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Tips, information and tools for Nigerian Startups, Micro, Small & Medium Scale Businesses

Since I have not gotten a detailed information about what transpired, I will be writing purely as an outsider. This post will be based strictly on publicly available information. To start with, Damilola Teidi the CEO of GoMyWay took an unconventional route of “announcing” that the business is shutting down....
A bond is a fixed income debt instrument issued by the government (federal or state government) or corporate institutions with a definite date of maturity and a fixed interest payment (known as coupon) payable either semi-annually or annually. The government usually issue bonds at the primary market to raise domestic...
For many users of Google, the search engine giant will always be available online. It is near impossible for it to shut down many will argue. This is because many people rely heavily on Google to do a lot of things. But do you know that Google did shut down...
Blogging is one business that you can do with little to zero overhead cost. It is one of the most lucrative businesses in Nigeria today. Every day, people find reasons to be online; it could be to catch up on politics or celebrity gossip or to get information on...
A few years ago and these businesses probably wouldn’t be ‘socially adequate’ but today, they seem to have taken the center stage when it comes to footing the bills. These businesses have today become the fastest growing businesses to own in the country. There are a lot of business ideas...
The one thing about small business that people don’t seem to know is that age is not the primary determinant in the success of a business. It might be an advantage in terms of vigor for youths and experience for the older ones. The success of a business cannot...
Tech giant, Google has released 5 new products into the Nigerian market. The products are G board, Health Knowledge Panel, Movie Showtime, Entertainment Archive, and Google Post. G Board This enables sending messages in local dialects like Igbo, Yoruba and Hausa. With this app, you can type a message in your local...
“Konga.com is Nigeria’s largest online mall. We launched in July 2012 and our mission is to become the engine of commerce and trade in Africa.” Source: https://www.konga.com/about-us/ Konga’s claims about itself can be debatable, but one thing is clear, Konga’s business is to facilitate commerce and trade in Africa (well,...
To a business owner, the most important aspect of his business is his customer. Without the customer, there would be no market and of course without market there would be no business. Depending on the nature of business, customer for the purpose of this expose could be referring to...
With the proliferation of the information technology, the world is apparently moving faster than its own pace. With the ease of doing things that technology has afforded virtually everyone, it is no wonder that some service providing jobs are beginning to become less appealing and with the current momentum...
Lagos State Internal Revenue Service (LIRS) has issued a public notice (the Notice) regarding the taxation of non-nationals with temporary work permit (TWP). The Notice defines a non-national with a TWP as ‘an individual, who is a national of another country, working in Nigeria on a TWP visa for a...
It’s more than a year since the Code of Conduct issued by the Financial Reporting Council of Nigeria has been active. The code which was promulgated to harmonize several codes of conducts across various sectors to cut across companies in the public sector, private sector (including small businesses) and...
The lending process may be complicated and frustrating for small business owners especially when they don’t know how to go about getting the loan they need. Admittedly, no one wears rejection well so when small business owners' applications for loans get rejected, they can’t help but be depressed and...
A very essential part of starting a business is managing your finances. Keeping tracks of your books can be tedious especially for entrepreneurs without backgrounds in finances. For some, as long as expenditures are reasonable and do not overshadow the income, they naturally assume they’re doing fine. One should not...
In business, perception takes precedence over facts. This is why you have to build a persona that cannot be doubted, looked down upon or outright overlooked. In your business environment, you want to create a powerful persona be it towards your staff, your customers, or colleagues and these tips...
What does copyright Protect? Copyright protects original works of authorship including literary, dramatic, musical, and artistic works, such as poetry, novels, movies, songs, computer software, architecture, etc. Copyright interests are sticky such that the copyright in a work, vests automatically in the author of the work, and it stays with the...
Congratulations on starting your business. It feels good and exhilarating to form a vehicle with the potentials to live your dreams. However, where good things are bound to happen, bad things also have the potentials to creep in. So while gearing up for starting your journey, make sure you...
The Entrepreneur Mind-set - A mentoring session with Ibukun Awosika For the average undergraduate, getting a well-paying 9 to 5 job after graduation is the dream. However, this is one dream that is fast eluding a number of graduates today given the prevailing socio-economic conditions in the country. Working for someone else...
If you have been hanging out with entrepreneurs and tech guys (they like to be called Tech-preneurs), you will come across a popular tech-preneur jargon called “scaling”. You see these days everyone wants to “scale”. So let’s quickly define what “scaling” is “scaling” is about growing revenue at an exponential rate...
On this Episode of Everyday Money Matters, Tunji and Ugo answer several questions on tax payments, pension and insurance, as well as how an artisan can grow his business without compromising quality. Question: My business has been operating for 4 years, how do i get a tax clearance certificate ? Answer:...
It has become a common fact in the business world that most businesses fail before they even have the time to kick off. Within a month or three, most entrepreneurs are out of business. A lot of analysts have come up with many things that could be the reasons...
Unemployment has currently become a trend, not by choice but because of the turn of economic events in the country. Living without a job is a horror to imagine especially with the now high cost of living. There are so many businesses one could venture into but lack of capital...
There probably isn’t any success tip in the world that you haven’t heard. Truth is, there just isn’t enough. To succeed in business you have to have these things ingrained in your mind. Consider your mind to be a store house that never runs dry and never fills up...
The business world is a tough world that is meant only for the tough and courageous ones. Unfortunately, it is a place that will swallow the feeble minded ones up whole. That said, one must be duly armed for this world. While soldiers take up arms and writers take...
Mr. Emeka Oparah, the Vice President, Corporate Communications/CSR Director Airtel, during the inaugural webinar of TheNewsGuru.com themed ‘Digital Media Gurus Speak: How to monetize online media opportunities online’, said that brands all over the world are willing to invest and partner with credible, industrious and libel free media. Oparah went...
Again, let me say, I don’t like jargons, but the word “Pivot” is some word we can’t avoid in this tech business. When a business model is not working, sub-optimal or not gaining sufficient traction, the CEO and the team pivot to a plan B. Essentially, pivoting is jettisoning...
Success stems from a combination of effort and mentality. It is rare to successfully create and manage a business without having the ‘I can’ mindset. The thoughts that run through your mind about a project reflect heavily on the effort you put into said project. It is for this...
Finding a job in Nigeria is no easy feat – and it's often hindered by limited experience and high competition, particularly for recent graduates. While a fortunate few are able to get jobs that align with their career goals, a vast majority of people are forced to take up...
Stamp Duties are taxes paid to the Federal or State Government on documents such as Conveyances on sale, Bills of Exchange, Promissory notes, Agreements, Contracts, or even documents such as Letters and certificates of admission, Instruments of Apprenticeship, Insurance Policies etc. Any written document that is not stamped is not...
One thing most startups normally don’t realize is the magnitude of competition that they are up against. The greatest challenge that you could face while starting up a business is to underestimate the competition. You need all the tools at your disposal to stay ahead of the competition. If you’re...