The 3 Vital Elements Every Nigerian Start-ups and Budding Entrepreneurs must Consider.
FUNDAMENTAL & PRACTICAL ELEMENTS OF AN IDEA THAT WOULD MAKE A GOOD& SUSTAINABLE BUSINESS START UP. Nigerians are so gifted in ideation that every year, over 1 million businesses are started in the various parts of the country. These businesses are in varied scale, nano, micro, small and medium sized businesses. However and sadly too, research has shown that more than 90% of start ups in Nigeria die before their 5th birthday. In fact up to half attain the failure status in the first year. The following three are among the biggest reasons for these abysmal record. And these three are what I have called the fundamental and practical elements of business start up and sustainability. You probably know them, but I want to briefly tell you why they are so important in your choice of business. 1. Need The only reason every good business exists is to provide solution(s) to the needs of the people. If a business doesn't solve a real problem, that business is dead on arr