Youth Entrepreneurship

Menu
  • Welcome
  • Dayo Profile
  • Contact Dayo
  • JOIN OUR FORUM
  • Testimonials
  • Shop
  • Our Business Plans
  • OUR PRODUCTS
    • Coaching
    • Entrepreneurship book for Africa Students
    • MLM E-BOOK: How to Recruit and Get to the Top Fast in Any Network Marketing Business
    • Set Up Money Making Blog for Just N50,000

Make Money Online Opportunity: How I Made Over 1Million from Expertnaire Affiliate Marketing in 2022 and How you Too can start the Business.

CLICK HERE

STARTING A BUSINESS IN NIGERIA

Dayo Adetiloye Business Hub

STARTING A BUSINESS IN NIGERIA

STARTING A BUSINESS IN NIGERIA

STARTING A BUSINESS IN NIGERIA

Nigeria is no doubt a great nation with vast human resources and natural resources. A little wonder why her colleagues in Africa call her the “Giant of Africa” the fact is indisputable as she is endowed with resources. Nigeria has been a fertile ground for both local and foreign companies to flourish in the past years and she is still in the business of birthing new businesses and expansion of the already functioning businesses. Foreign investors leave their countries to start-up a business in Nigeria. This has made me wonder why they will leave their “comfortable zones“ as we Nigerians call it to come start-up a business in this our hot and scorching weather-conditioned nation as defined by nature. This has made me to conclude that Nigeria is still in the business of sustaining businesses! For she has not fallen apart! As most of us think. But, for any business to survive and flourish in Nigeria, it goes beyond the availability of huge amount of capital. To shock you, some businesses that are making it today did start with little or no capital. Business is the activity of making money by producing or buying and selling of goods or providing services. What then must you put into consideration while starting a new business in Nigeria? There are no hard rules on how to enter and become a giant in Nigeria market. Here are some steps that have proved the test of time, enjoy!

Procure a good business concept: Having a good business concept that is properly drafted out in a business plan is the first step towards starting any kind of business that has the prospect of flourishing in Nigeria. To be successful in any business in Nigeria you must have a business idea. Ideals rule the world of business in Nigeria! Having an idea of what you want to venture into and putting it down in a business plan is a good point to starting a business in Nigeria. Your idea must be potentially backed up with a good feasibility study to know what your targeted audience want. Hence, ideas are just not enough! Support your ideas with the necessary business fundamental pillars such as; good action plan, budgeting, good feasibility study, business plan, article of association, memorandum of understanding and so on.

Then Get yourself prepared! To survive in the Nigeria market requires enthusiasm, constant upgrading, perseverance, having a good information or feedback sources and so on. You as the sole proprietor of a business for instance must play a major role in the success of the business. If you decide to take a break without proper planning of how the business will survive in your absence, the business definitely will go on break as well. Your role as an entrepreneur is very essential. Nigerian business world is a very competitive one but the gain (profit) is worth it! If you can take the pain to push through the hard times with a determined mind-set to succeed no matter how hard the business world push at you. You can get yourself prepared by attending seminars, workshops, online training or online courses, seeking legal counsel or information on the chosen line of business you wish to venture into and getting all the necessary information you need to fuel yourself through. Prepare your mind not to fear failure! In case you do fail get yourself together and try again. Winners don’t quit! Keep your hope alive and never lose your faith on that business idea. If it requires you to do strategies again, do and implement again.

STARTING A BUSINESS IN NIGERIA

STARTING A BUSINESS IN NIGERIA

Write down a business plan: This is the blue print of your business! It shows where you are going right from your starting point and the route you will take in achieving your business set goals. A business plan will save you the wear and tear of starting a business without knowing where it is heading. It will help you see into the future of the business!

Register your business and have a company account:  to illustrate: there was a carpenter who was very good at his job! He got a link to a company and won a contract worth millions. After the contract was sealed. He was asked to provide an account for advance payment. All he did was to present his personal account details. This action terminated the contract! So unfortunate! He has his company named and registered but without a company account, to compound the situation. Endeavour to register your company with the “Corporate Affairs Commission“ (CAC). Your business could fall into any of these business categories you can register in Nigeria which are; sole proprietorship, private limited liability company and public limited liability company.

What are the steps you can take in registering business in Nigeria? Decide on the ownership structure of the business and then chose under which of the above three business categories you want.

Go to the office of the Cooperate Affairs Commission close to you to make enquiry about your preferred business name, to know if no one is with such business name you have come up with, better still you can seek the help of a legal practitioner.

Provide the details of your proposed company such as MOU, details of directors, articles of association. You could present these to the office of the CAC if they require more documentation they will inform you.

Proceed to make payment for the necessary fees. upon verification of the necessary fees and compliance, you will be issued certificate of ownership and you can then commence operation of your business

STARTING A BUSINESS IN NIGERIA

STARTING A BUSINESS IN NIGERIA

Tax registration: you need to visit and register with the Federal and state inland revenue services (FIRS). The FIRS are those you forward all the value added taxes (VAT) to, while the state collect the ‘Pay As You Earn’ (PAYE) taxes.

Obtain necessary license permits: obtaining licenses and permits depends on the type of business you want to venture into. This is why you need legal help (legal information) as regards the necessary steps you are to take.

Familiarize yourself with the market and then develop a market plan

STARTING A BUSINESS IN NIGERIA

STARTING A BUSINESS IN NIGERIA

Secure a good location and work on branding and then Source for external capital sources if you don’t have enough fund from the internal source.

Begin small!

STARTING A BUSINESS IN NIGERIA

Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!
Your information will *never* be shared or sold to a 3rd party.
  • Author
  • Recent Posts
Dayo Adetiloye Business Hub
Lets connect
Dayo Adetiloye Business Hub
Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
Dayo Adetiloye Business Hub
Lets connect
Latest posts by Dayo Adetiloye Business Hub (see all)
  • Top warehouse locations in Sharjah - January 26, 2023
  • An Advanced Guide for Those Looking to Invest in Cryptocurrency - January 24, 2023
  • Business Opportunity Recommended for 2023 that will make you millions in Nigeria - January 16, 2023

Share this:

  • Tweet
  • WhatsApp

Related

Prev Article
Next Article

Leave a Reply Cancel Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search this Blog

Grant Winning Blueprint

Ecommerce Business

Follow me on Facebook

Follow me on Facebook

Follow me on Twitter

My Tweets

Youth Entrepreneurship

…Raising Millionaire Young Entrepreneurs
  • About
  • Dayo Speaks
  • Disclaimer
  • JOIN OUR FORUM
  • Shop
  • Privacy Policy
  • Sitemap
  • Advertise With us

About Us

Dayoadetiloye.com is a property of Dayo Adetiloye Business Hub committed to connecting entrepreneurs with resources.

We are one stop Business Resource Center where we help you discover, Develop and Fulfil your business potentials.

On this platform, we help you develop business plans and strategies, connect you with funding opportunities and share with your business opportunities.

Facebook Community: https://www.facebook.com/groups/156197005130352/

Twitter: www.twitter.com/dayoadetiloye

Email: Dayohub@gmail.com

Popular Posts

  • 50 SMALL SCALE BUSINESS IDEAS IN NIGERIA AND STRATEGIES TO START IT
    50 SMALL SCALE BUSINESS IDEAS IN NIGERIA AND STRATEGIES TO START IT
  • Peter Obi's Biography, Net Worth, and Rise to Popularity
    Peter Obi's Biography, Net Worth, and Rise to Popularity
  • Comedian Carter Efe biography, relationship and Net worth
    Comedian Carter Efe biography, relationship and Net worth

Popular Category

  • Affiliate (34)
  • Articles (653)
  • Business Grant (341)
  • Business Opportunities (419)
  • Business Plan (682)
  • Competition (45)
  • CV Writing & Career Guide (61)
  • Dayo Initiative (13)
  • Entrepreneur of the Week (19)
  • Executive Summaries (148)
  • Expertnaire Affiliate Marketing (4)
  • How To (132)
  • Job Vacancy (18)
  • Latest Post (1,623)
  • LOAN (23)
  • MLM Coaching (10)
  • Network Marketing (173)
  • NEWS (21)
  • Norland Nigeria (69)
  • Ofada Rice (6)
  • Online Marketing (49)
  • Product Sales (7)
  • Recharge and Get Paid (11)
  • Scholarship (7)
  • Scholarships (11)
  • Sponsored Post (219)
  • Trainings / Events (148)
Copyright © 2023 Youth Entrepreneurship
Dayo Adetiloye Business Hub

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh
Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!
Your information will *never* be shared or sold to a 3rd party.
 

Loading Comments...