Building a Business in Nigeria is Difficult why?

[Macabury]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

[Joeboy]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

     Trying to build a business in Nigeria is like trying to run with a very big weight around you waist- This implies that it is very difficult, some of the reasons that make it difficult are:
1) Poor Infrastructure: Power(Nepa Light), na one of the major headaches for 9ja. As a result of this most businesses rely on generators daily, and we are very much aware of how fuel don dey very expensive. Then we have bad roads, bad networks (most especially MTN, am sure we all can relate), then there is unclean water.
2)   Access to Capital : Getting loans from the bank is like writing WAEC without any access to expo 😆 The interest rate are always very high, and the collateral requirements fit commit person neck. And most of all this Fintech that offers loan often comes with hidden charges. Most of our 9ja brothers and sisters have the idea, but lacks the finances to actualize those ideas.
3.   Multiple Taxations and Levies: You pay to the Federal government, to the State government and sometimes to the Local government( sometimes through environmental fees) before one can open a small provision business. For person to dey pay pay up and down- abeg my people how much gain con dey inside provision business, nawao.
4. Corruption and Favouritism : Sometimes you don't get contract or support because you don't know '' Someone at the Top''  Even to register your business, or to get a license, you may always need to settle someone to speed up the process, which shouldn't even be the case
5. Insecurity : For business in the Northern part of 9ja as well as rural areas insecurity is really a threat. I recently watch a news of how people where brutally murdered by bandit in Benue State.  This cases of killings can bring a once thriving business to its knees overnight.
      Despite all this challenges mentioned above Nigerians are still resilient, they push through and have built successful businesses. That's why I love my country and my people regardless 🇳🇬❤️🥰

[laijsica]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

There may be a rationale for corporate institutions not being able to function properly. If you look at the owners of those institutions, they are trying to create a favorable environment but are not getting enough support from the government. Financial institutions impose tough conditions instead of easy conditions in lending as a result those institutions cannot grow overall.

Employees are interested in receiving weekly/monthly salaries and should not have any demands beyond that. In order to get additional incentives they should increase their demands based on the overall progress of the organization. According to Nigerian law any Staffs is entitled to benefits but in most cases, financial constraints deprive them of that right. The country's infrastructural weakness and inability to properly utilize resources are largely responsible.

In a country where state institutions struggle to stand tall in a fragile economy it can be very difficult for corporate institutions to remain in a strong position.

[Rruchi man]

~

There are many factors against the growth of your business in Nigeria; I will highlight a few of them.

- Little or no government assistance for SMALL BUSINESS OWNERS.
- Harsh government policies creating a difficult environment for business growth.
- Bad economy reflected in buyers' behavior, which has reduced.
- Cost-intensive maintenance for businesses, which most small business owners lack.

These are just a few, but next time you see someone handling a business in Nigeria smoothly, almost like the economy is flourishing, give them some accolades.

[GiftedMAN]

Nigeria is not the only country that is facing this difficulty when it comes to building a business brand, there is a high rate of inflation all over the world followed by the government rules which is not favourable to business owners especially the small scale businesses, it takes strength and a lot of patience to see a brand that surviving all the rules and heavy task that is always imposed on them.

For the staff which you said doesn't have the organization at heart, it all depends on the people the organization chooses to employ, there are a lot of good staff out there business owners should stop employing people based on relationships they should go for people with the qualifications of they what to get things right.

[Proty]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

This is your own perfective or your view point because as far am concerned there is no place on earth were it is easy to build up a business.nothing good come so easy, it is not only in Nigeria that to build up business is difficult.infact majority will use this as an excuse instead of focusing on building up there business.There are business owners that now own multinational companies most of them started there business in Nigeria with little or no capital and now they have established their business.
I won't denied the fact that there government some government policies that may affect small businesses which is not only in Nigeria ,so most business failures should be centre on the owner of the business by the nature of risk they take and their decision as regards to how they spend their income.

[George Edward]

Nigeria has many factors considering the difficulty in business but in most cases building a business in Nigeria is mostly hard because most business individuals lack the right knowledge and the ability to relate with their customer we all know the country is hard but how will you expect someone who is rude to his or her customer have any chance of progress in their business that being said given the rate at which almost any where you go there is either a large scale or a small scale story and with both individuals selling the same exact thing to me the chance of any progress in that business is very low which will bring difficulty in business growth.
The ideal that the cost of things in the market are rapidly going up over night,  most small scale business will have to add to their profit , the rate at which customer will buy will definitely reduce due to price and that being said product might even start getting spoilt or expired .
So while lack of funds and other things are involved in the difficulty of building a business it also depends on the business man or womans ideas and experience in a business that will decide if a business will grow or not .

[Hewlet]

Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

Every body wants to start up something on Thier own and become Thier own boss. While waiting to achieve that, they attached themselves to organisations and get jobs either to gain experience, build capital or to have a first hand knowledge on how the industry actually works. Even with such personal goals in place, if you treat your employees well, it's easier for most of them to have a second thought and maybe stay longer with you to help build your firm. It's mostly when you're treating your employees the wrong way that they remove every form of possibility of building the business with you.

In our Nigerian context especially, the issue of trust and poor employees treatment is what makes it really deficult for  business owners and start to work together in building a long term entity.  It's easier to build a business by yourself and make yourself the only risk taker than build it with someone whose interest might not align well with yours.

Instill in the heart of your staff the direction the business is headed and make them know some details about the business and watch them show loyalty to assisting in the building of your business.

[I_Anime]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

One of the common reason why most folks  find it difficult to start up or to build a business, is because some of them are usually in rush to start up a business without making feasibility study before executing a business plan . For instance you will see in some places like four building are doing the relative business (same business) and they will be like business is not moving most time is the person that started it (people are used to ) that usually gains it , may be until some went for some investigation on businesses there to find ways they can make their own out standing compare to others and such act still fall under feasibility study.

At first take your time plan your business, check and find out what the society are lacking . Then use your business plan to bring solution or fill that void . Sometime you see some places to get medical care is hard or kind of far from the community, so you can start up some health center or something their to help the community while making some good revenue from it .

[Obulis]

Very clear, it's highly challenging to develop a cooperate body in Nigeria right now. By so saying, this is pointing to entrepreneurs directly. This is more or less lack of trust which it is heartbreaking since coming together for shared views /vision is one easy, simple and natural solution to growth.

The issue of Staffs selfishness is somehow directly linked to some companies selfishness also, how that some companies do not care or cares little about staff welfare as some companies are even running modern slavery by directly or indirectly brutalizing employees making the employees unreliable also. However it is almost a widespread staff attitude to seek their own not that of the company. The state of economic development of Nigeria is not far from being such influential.

 The helpless unfortunate and unfavorable situation of 9ja(insecurities, no support, inflation etc) is a multiplier of the pressure, causing running a petty business, to talk of building a cooperate one a complex task.

[Africolo]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

Nigeria seems to be one of the unfavorable country to build a business because one will start with the poor infrastructure out in place. I wouldn't advise any one close to me to invest deeply in a business because the losses surpasses the profits. I'm very certain that most people have been ruined by inappropriate decision making when it comes to business. It's very advisable and smart to always follow our routes in the system.

Everybody just have to make it to the top because we know how difficult and unfavorable things are now becoming in our beloved country Nigeria. The economy is crucially crashed down and there's probability of either making it or not making it. The alternative choice is all ours to exert

[Evergreenpost]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

Firstly, everyone wants to be part of the success, but few are willing to sweat through the process. It is disheartening when your passion starts to feel like a one-man journey.

Secondly, poverty is a major factor; staff loyalty is rare. Most employees are driven by survival, not by purpose. They focus on daily pay rather than long-term growth. And honestly, you can’t blame them; poverty forces people to concentrate on immediate needs rather than future possibilities.

Thirdly, the economy is brutal. From unstable power supply to rising costs of goods and services, harsh taxes to unpredictable inflation – running a business in Nigeria often feels like pushing a car uphill without brakes.

Lastly, government policies are unstable. Each new administration introduces new rules, taxes, and agendas. There’s no continuity or stability, making long-term planning nearly impossible.

That said, after understanding the challenges above, anyone who wants to build a corporate business in Nigeria must be patient and determined – not easily discouraged.

Focus on delivering a high-quality product or service. Clearly define your target market and ensure your offering meets their needs. Invest in good branding, attractive packaging, and smart marketing strategies to give your business a professional edge.
With time, consistency, and resilience, success will come.

[$weetne$$]

It's difficult to build a Corporate body in Nigeria..
People are not willing to build with you and that very discouraging.
Staffs always wants their profit and don't really have the interest of the organization @ heart.
The Economy hasn't been favorable to certain businesses, making it hard to run a Business

• Building a business in the country is hard because of the laws of the country. The laws are favouring only the politicians and not favoring the average business man without any connections. There is no funding in the country for ordinary business owners, only those with connection can get the big and wealthy people in the country to invest in their business and if your business starts becoming a success, you will start to receive threat by others in the same line of business that needs your downfall to succeed. It is not like we can not all succeed but people prefer to have no competition therefore they will do everything possible to kill your business.
• The economy is struggling and people do not have money in patronising new business because they are struggling with other bills. Insecurities in the country is on the rise and this make it impossible for you to run your business without being afraid of getting attacked too.