How to Start a Small Business in Lagos Nigeria

How to Start a Small Business
How to Start a Small Business in Lagos Nigeria

We know that Lagos state Nigeria is a very big city and for anybody to run business, he or she needs to know How to Start a Small Business in Lagos Nigeria, which is the main aim we will educate people on different steps to start a business.

To run a business in Lagos is pretty simple and also very difficult for people who didn’t have the experience and knowledge which is why we will give people both young and old full details on how to run a small business with low capital in Lagos, Nigeria.

How to Start a Small Business in Lagos Nigeria

They following are easy steps to build an establishment in Nigeria :

Capital / Business Funding

For any business to move forward there must be a start up capital and also funds to run it especially in Nigeria, it requires funds to start and to maintain but it does not mean that you can’t start little in Nigeria and such establishment included rendering of services.

setting up a business does not only requires your skills and effort but also your money. Every business requires a startup capital which will be used in funding the day-to-day running of the business.

If funds is the problem you can use any of the following option :bank loans, grants, equity investments .Studies shows that most small establishment die in Lagos state Nigeria due to lack of funding.

See Also:3 Reasons To “Invest While You’re Young”

Business Registration 

To run a successful business in Nigeria you must register your business name with the Corporate Affair Commission (CAC), and also register your business with the CAC which will give the business legal backings.

To make the business registration easy we advice that you should get a lawyer who will help you to register your business with the Corporate Affair Commission .

At the State level you can approach the Lagos State Chambers of Commerce to register your establishment with the Lagos state government and for those outside Lagos, the can also approach their state chamber of commerce to register their businesses.

Set a Business Plan

For anything to work out there must be a plan and the same thing is applicable to business anywhere in the world, and for a start up to work in Lagos state, Nigeria you must set out a plan, get a book and write down your plans on day to day operation of the business and make sure you follow the plan, it is one thing to have a plan and it is another thing to follow them.

Good Customer Relationship

if you want your business to survive you must have a good relationship with your client, your don’t argue with them, make sure you attend to them on time, if it is goods that need to be delivered make sure your deliver the goods on time, though we know that traffic in Lagos can delay delivery but always try to explain to your customer and also take the blame.

Market Survey

Conduct a proper market research before starting any business in Nigeria target who you will be selling to and who you will be buying from and where you will be buying from, because it is all important you conduct a good market research.

For more information on How to Run a Business in Nigeria, drop a comment in the comment section below.

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