If you have been thinking on how you can start a successful or lucrative business in Nigeria, then you are among the thousands of people who want to join the league of entrepreneurship.
Everyday, thousands of people in Nigeria also dream of starting a business and, they surfs the search engines to get useful information or tips on how they can vividly launch a successful business and, how to make more and over their competitors.
Here in this article, you will get all the information and tips needed to start your business in Nigeria. But, I must tell you that you can’t possibly dream of starting a profitable business in a day and achieve that dream the second day.
Business starts with an innovative idea and steady/gradual fulfillment of that idea.
Without wasting any time, let quickly dive into the main business but, I will kindly advice you to be patient and meditate on each points before going further.
Do you know what business really mean? Yes, I bet for sure that you know but for reference purpose, let me define the meaning of the term “Business”.
A business is anything you and I engage in that earn us living.. When am talking about living under business, I mean what makes us bear our financial life and, that is “Money”!
The aim of every businesses Is to gain profit and, the profit is not sand or stone, it’s Money. We use money to buy anything we need, take care of our health, lifestyle and other amenities.
I can categorize business into two namely below:-
• your business registered with Nigerian Corporate Affairs Commission also known as CAC.
Nigerian Corporate Affairs Commission, CAC is a Nigerian government agency that aims in registering all business organization or brand within the country.
*.4. Tax Registration
After getting your business registered with Nigerian CAC, the next step is to get a valid tax registration.
Just like Nigerian Corporate Affairs Commission, CAC, their is also a government agency responsible for the registration of tax in Nigeria, they are called Federal Inland Revenue Service (FIRS). There is no how you can run a business smoothly in Nigeria without having your tax registered.
To register your tax, visit your local government secretariat and you will be directed to where you will do your tax registration.
After registration, you will be given a special number known as Tax Identification Number (TIN).
*.5. Register Your Business With The Related Governing Body: There will surely be a governing body for your business in Nigeria. For instance, the commercial drivers are under National Union of Road Transport Workers (NURTW) or Road Transport Employer Association of Nigeria (RTEAN), the Carpenters, Automobiles dealers etc also have their governing bodies.
So, for you to avoid any arrant embarrassment or fine, you need to Register under any related body to the business you want to start in Nigeria.
READ: How to Register your Business in Nigeria
*.6. Get A Working Place:- After going through all those stresses, the next thing is to start bringing your business to live.
Look for a conducive and attractive place where your can build or rent office spaces for workers and your products.
Although, if you want to run an internet business, you can choose to work from home and 85% of online business are run from home.
But, running a commercial business like selling of cars, books, mobile phones, bags etc will need an office space for a start. You can’t park cars inside your house compound and expect customers to approach you.
After getting an office space, renovate any area of the building that needs renovation, paint the office with attractive colour combinations, furnish it and start equipping it.
*.7. Bring Your Business to the Internet & Social media Sites
The internet is gradually turning the whole world into a global village! What you must also do is to roll with the development also.
To bring your business to the internet, you need a website. Building a website for your business means you serious about maintaining professionalism in whatever the business you are running.
You will gain more customers if your business is on the internet, especially when the website is mobile friendly (80% of internet users make use of their mobile phone to surf the internet the most), search engine optimization (SEO) is also very important.
You can create a successful website for your business, How Communication Helps A Successful Business Life
*.10. Continue Marketing and Promoting Your Business – Don’t Give Up!
This is my last guide for you in this article, “How To Start A Successful Business in Nigeria – 10 Complete Guides. I’m sure you have already catch the scoop of setting up your business hale and healthy in Nigeria.
But, winners never quit! As long as you have a good business idea and impressive strategic plans, you should keep on trying.
Continue to promote and market your business, don’t just sit down and be waiting for manna to fall on you, set up a marketing team (it maybe one or two knowledgeable individuals) to help you proclaim your business to the potential customers within and outside Nigeria.
Big and successful companies still have marketing team… The secret is that, everyday, the market is being more competitive.
From Editor’s Desk:::– How To Start A Successful Business in Nigeria – 10 Complete Guides
By now, starting a business in Nigeria shouldn’t be a tedious task for you to implement because here in this article, I have tell you everything you must do if you are aiming to setup a lucrative business in Nigeria.
Although, starting a business in Nigeria might seems hectic or unfruitful at a start but, don’t kill that great ideas of yours, try as much as possible to maximize it. Nigeria is a very big targeted market, investors from other African countries are also aiming to hit Nigeria with their business idea and, this made it more competitive for a beginner but, remember that everything starts from something.
Do you have any question, query or enquiry? Please, let me know through the comment box below, I will be very glad to receive your comment.
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