Blog

06 Feb

TECHNOLOGY TRANSFER AGREEMENTS IN NIGERIA

Dear Subscriber, In the last few decades technology has greatly disrupted the way humans live and the export of technology remains a key revenue earner  in developed countries e.g. in 2016, India generated about $100 billion from the export of software to other countries. The reverse is the case in Nigeria which has lagged in the development of home grown technological solutions that can empower its citizenry and generate foreign exchange. This scenario is however changing and there are indications that [...]

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23 Jan

UNDERSTANDING CROSS-BORDER CONTRACTS

Dear Subscriber, Every nation has an excess of something which is required in another country. The process of exchanging these goods or services is known as  international or cross-border trade and in most countries this forms a substantial portion of the Gross Domestic Product (GDP). Ensuring that business entities that are separated by borders, diverse laws and cultural differences do business seamlessly has always been of paramount concern and this concern has led to the development of some internationally accepted contracts [...]

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16 Jan

ENFORCING TRADEMARKS IN NIGERIA.

Dear Subscriber, One of the most valuable assets of a business is its brand. The brand could be projected through a product or service which it trades to its customers or clients in return for consideration. Businesses spend a lot of time and money on creating and developing unique products/services which gives then an advantage in the market space however these efforts are often threatened by the antics of imitators and counterfeiters who attempt to cash in on the goodwill [...]

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08 Jan

BUSINESS OUTLOOK IN 2017

2016 was quite eventful globally. The World witnessed political and economic change that generated ripples that was felt all across the globe. Notably, Britain voted to leave the European Union and the USA voted Donald Trump who has vowed to trash the status quo. Here in Nigeria, our economy was heavily battered by recession caused in part by the drastic fall in crude oil prices and tensions in the Niger Delta region. The apparent disconnect between the monetary and fiscal [...]

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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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