Yearly Archives - 2016

28 Nov

A CASE FOR CROWDFUNDING IN NIGERIA

Dear Subscriber Small and Medium Scale Enterprises (SME’s) are known to be the engine room of economic growth  as they generate the bulk of business activities in most countries. Nigeria is not an exception to this rule as available data shows the country’s SME’s are the highest employers of labour and usually provide a huge chunk of products and services. SME’s are however hampered by a variety of factors, chief of which is access to capital to propel ideas or [...]

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07 Nov

NEGOTIATING FRANCHISE AGREEMENTS

Dear Subscriber, Buying a franchise offers advantages to entrepreneurs who are intimidated by starting a business from scratch and are unwilling to buy an existing business. In simple terms a franchise is the right granted by a business owner or inventor (franchisor) to another individual or company (franchisee) allowing the use of its trademark, name, processes, good will etc. in the delivery of a service or sales of goods.   Whilst buying a franchise jump-starts your business by allowing you leverage [...]

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23 Oct

DEALING WITH INVESTORS

Dear Subscriber, Cash flow is like blood to a business and without which a business is primed for failure. Within limited resources every business is expected to manage all its cost centers including operations, personnel, marketing, compliance etc. and still declare profits at the end of the financial year. This constant pull on scarce resources coupled with the exorbitant bank interest rates has propelled entrepreneurs to regularly seek funding from willing investors. Investors can either be friends and family or properly [...]

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17 Oct

WHY BUSINESSES FAIL.

Dear Subscriber, Nobody starts a business expecting to fail, but statistics show that only 50% of new businesses survive the first five years. There are many reasons for this alarming statistic which may not necessarily have anything to do with the economy and our discourse this week identifies some of the causes of failure and how entrepreneurs can overcome these obstacles to success. 1. FUNDING CONSTRAINTS One of the major reasons most businesses fail is inadequate funding. Most entrepreneurs fail to adequately [...]

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19 Sep

HIGHLIGHTS OF THE LAGOS STATE PROPERTY PROTECTION LAW

Dear Subscriber, It is the dream of the average Nigerian to own property especially in the mega City of Lagos. However over the years investments in property within the city has been bedeviled with the menace of Land grabbers (Omo-Onile in local parlance). These so called Omo-Oniles hold themselves out as traditional landowners who collect all manner of unlawful fees levies and in several cases they even sell land to multiple buyers. The terror unleashed on Lagos by these gangs [...]

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04 Sep

BUYING A BUSINESS IN NIGERIA

Dear Subscriber, Starting a successful business in Nigeria can be a daunting task which is why some entrepreneurs consider the option of buying an existing business and growing it to success. Buying an existing business saves the business owner the hassles of building a customer base, marketing the new business, hiring employees and establishing cash flow. Our focus this week highlights the essential things a prospective buyer of an existing business should look out for before making a commitment. Identifying the right [...]

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29 Aug

YOU AND THE POLICE

Dear Subscriber, The Police Force is a critical institution in the organization of any society where law and order is expected to prevail. The Police everywhere in the world provides services that directly impact on human lives and are usually held in high regard by the society. The situation is however different in Nigeria as the average citizen despises the Police and would most likely have unpleasant tales about an encounter with them in the past. They are generally viewed by [...]

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22 Aug

ACCESSING A MORTGAGE IN NIGERIA

Shelter  is  one  of  the basic  needs  of  mankind  and  ranks  second  only  to  food.  It is also a symbol of status and a measure of achievement. It is usually the dream of the average person to own a home however the cost of owing one especially in urban centers has led to the development of a model where individuals and businesses purchase real estate without paying the entire value of the purchase up front. This model allows the [...]

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15 Aug

HOW TO REGISTER AN ‘NGO’ IN NIGERIA

A non-governmental organization (NGO), also known as Foundation, Charity, Civil Society Organization etc., is any non-profit, voluntary citizens' group which is independent of Government and driven by people with a common interest. NGO’s perform a variety of service and humanitarian functions, bring citizen concerns to Governments, advocate and monitor policies, encourage political participation through provision of information and are sometimes organized around specific issues, such as religion, human rights, environment, health etc. There are different types of Non-Governmental Organisations (NGOs) [...]

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08 Aug

HOW “ADR” WORKS IN LAGOS

Disputes are a necessary part of human endeavor and in Nigeria parties to a dispute commonly resort to the Law Courts to determine the validity or otherwise of their positions. Its however a fact that most Nigerians are reluctant to approach the courts because of the various delays in getting results which has led to aggrieved persons taking laws into their hands or trying to influence the law enforcement agents to deal with their perceived opponents.The cost and delays [...]

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