Nigeria Has Happened to Me:Shutting Down my Business After a Year of Operations

[kasablings]

Been in this country all my life and also they do business dey go school till man finish is not easy at all nothing for this country dey go down when he go up I could remember buying a carton of croacker fish for 9500 with 28pieces inside after then you buy ingredients.and sell one for at list 2500.but right now the price has increased drastically to the level wey one carton na 65000 for the same numbers how you wan do and when you add price customers begin to complain and reduces by the day.the inflation of price they kill business for the country day by. day.na the poor they suffer ham.

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[letteredhub]

All what op just talk now na nothing but the truth of how small scale business owners the pass through for this country in order to keep their business still going. You see many of this people for road side wey get groceries and provision shops no be say na too much gain wey them the make nah make them still dey into the business but it's just for them not to dey idle without doing anything, if you go closely you go see say them the struggle with capital to keep the business going.

The current state of things in the country in the context of prices of things and the provision of such essentials like electricity, security and water for yourself is enough to discourage and shut down small businesses in the country.

[Su-asa]

To survive as a business person for our country nowadays dey very hard because person no go fit dey buy good costly then cin dey sell am cheap because na lose go be the friend of the business owner.
As I start to dey read this post I con dey feel pity for business people because I no sure say them dey get any better profits from inside their business, most of them get pity mind to the extent of say them go reduce the price of their goods so that people ho fit buy am and still some of their customers no dey consider them.
However, all blames dey to straight to the retailers because them na dey sell to the consumers and the consumers almost all of us get bad mouths way be say if the retailers call price we go qural them which is not right.
Nigeria go better Nigeria to better we done dey hear am for very long time and we all the put our hope say e go better one day, many no be even this our generation again. To the OP, I done hear your massa, if I see person way really need watin you dey market I go tap in to your PM.

[Rruchi man]

Sadly, after a year of operations, I have reluctantly decided to close down the business. Inflation has taken a toll, making it financially unsustainable.

Many businesses have already shut down, and many that are still in operation are merely hanging by the thread. The economy keeps making it difficult for consumers to buy from retailers and retailers from wholesalers.

The lack of electricity and high cost of running petrol and diesel generators have made it so that those who cannot afford to now install solar power to keep their businesses running are considering shutting down or have shut down already. (for businesses that depend on electricity)

The increase in exchange rate has also affected the cost of importation, which has increased price of goods and products.  Businesses that depend on importation are biting their teeth's, the tax and clearance cost for their goods is becoming unaffordable.

For local businesses, they are also affected, transportation cost has increased too which has contributed to the prices of goods going high.

The situation is really alarming, we are just at the start of this administration that does not seem to care.