THE PROSPECTS AND CHALLENGES OF SETTING UP SMALL SCALE BUSINESSES IN NIGERIA
- Project Research
- 1-5 Chapters
- Quantitative
- Simple Percentage
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
EXCERPT FROM THE STUDY
In Nigeria, the majority of small businesses fail within the first five years of operation, a lower proportion dies between the sixth and tenth years, and only about five to ten percent prosper, succeed, and mature. There are a number of causes that have been described as leading to the premature death of small enterprises. Key among them include: Inadequate capital, irregular power supply, infrastructural deficiencies (water, roads, etc. ), lack of focus, inadequate market research, over-concentration on one or two markets for finished products, lack of succession plan, inexperience, lack of proper bookkeeping, lack of proper records, inability to separate business and family or personal finances, lack of business savvy, lack of business savvy, lack of business savvy, lack of business savvy, lack of business savvy, lack of business savvy.
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