BUSINESS TIPS: HOW TO START YOUR OWN SMALL BUSINESS IN NIGERIA AND MAKE SUCCESS

The Banks are presently curtailing and same do the Oil and Gas companies, the quest for earning jobs are very common.

To be definite, One boastfully say the availability of Government Jobs are very low than that of the Individuals who are able and eligible to work.

Here we bring you some tips on how to start up a small business that you can handle on yourself and sure become successful. 

These are some ways on how to begin;

1. Identify and Clarify Your Business Idea.

Many People based on Educational status and otherwise tend to raise series of excuses when it comes to generating business ideas, as they believe,business is for those set of persons who studied Business/Accounting/Economics etc. at school.

Everyone has got one or two business idea, that's definitely but the ability to put them to practice becomes the problem. 

A simple way out is you being able to steal Insight from Customers Concerning that specific business idea you've got, And that is a great step to creating your Business.

2. Test Your Business Idea On A Small Scale.

Here so many get it wrong, 95% of the big and successful business entrepreneur you want to be like all started with a very little scale.

Therefore, It good to start very big but the possibility of falling very quick is high. the easiest way to start well is by testing your business idea on a small scale as it tends to pave way for growth. So you'll be able to recognize and treat were you might be lacking behind.

3. Create A Business Plan Or Pitch Deck

As an aspiring entrepreneur, you know that sooner or later you'll have to raise capital. There are number of mediums that will offer you the financial supports, but this possibility tend on your Business plan/ Pitch Deck.

They will require detailed business plan which explains what your business does, how it generates revenue, a SWOT analysis, and financial projections.

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Some reasons why your pre-establish company need a good Business plan includes,

• To attract investors.
• eligibility to secure loans.
• To attract business partners .
• To discover if your business has the ability to generate profit.
• To have a road-map in running your business.

4. Register Your Business

There is need for you to register your business with the Nigeria Corporate Affairs Commission, because it will definitely be of future benefits if your business run into legal trouble. You  don't have to use the service of  a lawyer for a smooth and legal registration here in Nigeria.

See the simple 4 steps business registration in Nigeria Below;

• Pick a Business Name

Choosing a Business is not that easy, it is very vital. It has to be unparalleled,tricky, and friendly.

You also need to make sure the name you chose should be inline with your products and services.

• Visit the Corporate Affairs Commission (C.A.C)

Corporate Affairs Commission, here in Nigeria is the body dealing with registrations of new businesses.

Here your check if the name you've chose for your business is available or not, after which you will be asked to fill a business name form (Form 008)  after filling you'll have to submit it with some little payment fee for the form.

• Make a Second Visit To Corporate Affairs Commission

This is the paramount of all step, because here you will be given another form to fill (Form 001) Registration of Business Name. After neatly and accurately filled the form at the point of submission you'll also pay N10,000 only and your registration is completed.

• Collect Your Business Name Certificate of Registration

After successfully done your number 3 step, you'll have to wait for couple of weeks before checking back at the Corporate Affairs Commission (C.A.C) for your Business name  certification. 

You see from above that it quite easy to create your own business here in Nigeria....

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