The pain of being an entrepreneur in Nigeria

[Didia Sofunichi]

The pain of being an entrepreneur in current day Nigeria is excruciating.

Today enterpreneurs in Nigeria are faced with the challenge of high cost of rent, hike in transportion and poor power supply.

So many businesses have shutdown completely while others are making plans to relocate. Unfortunately many young entrepreneurs have killed their dreams of becoming business owners courtesy of am unrealistic business environment.

What can be done to encourage enterpreneurs in Rivers State, Port Harcourt?

the pain of being an enterpreneurs is circulated in other cities as well,the cost of shops are very expensive,and the increament of transportation is really affecting them,while for the power supply is 10%,lack of power supply,and the power supply is needed at all time for there busineses,nigeria in terms of power supply they are zero,look at ghana,they have steady light more than nigeria,and nigeria has every resources to generate power supply.

Your thought aligns with mine. I think too that the pain of being an entrepreneur is worldwide. Nations of the world feel the pain too as it's not only in Nigeria. The problem of power is almost like an African thing. Africa nations are also suffering from power failure and fluctuations.

The problem of bad road is not also left behind. The roads are bad  and they lack proper connectivity, the distance in transporing finished goods from one place to the other is not left behind.

The issue of hike in transportion is also a concern to young entrepreneurs , the cost of fuel and diesel has impacted adversely on the cost of transportation.

I will not leave behind the cost of shop rent. The increase in the cost of building materials have made landlords to increase the cost of rent abruptly and all these collectively bedevil enterpreneurship around the world.

[Chilwell]

I agree Completely, there are lots of success enterpreneurs here in Nigeria and Port Harcourt precisely. The only challenge here is that you have to have so much money to be a successful entrepreneur these days

Seriously, the escalating cost of living is stifling the growth of many entrepreneurs in Nigeria. Price of everythings are rising higher, and it is preventing some entrepreneurs from sustaining their businesses. they struggle to sustain their businesses, because their expenses is much more greater than their profits. This disparity can kill their confidence, motivation, and courage, and some will abandon their entrepreneurial pursuits due to the overwhelming challenges, obstacles or difficulties.

[Joeboy]

The pain of being an entrepreneur in current day Nigeria is excruciating.

Today enterpreneurs in Nigeria are faced with the challenge of high cost of rent, hike in transportion and poor power supply.

So many businesses have shutdown completely while others are making plans to relocate. Unfortunately many young entrepreneurs have killed their dreams of becoming business owners courtesy of am unrealistic business environment.

What can be done to encourage enterpreneurs in Rivers State, Port Harcourt?

River State is a very expensive state to live in, accommodation , feeding, is very expensive, and there are even some part of the state that don't even have electricity. So to encourage entrepreneur in a state such as this, the government should state by having a source that constantly supply light since there are a lot of companies there that requires light for their operations, also the economy should be improve by depending more on production rather than buying from other states. Also there should be enough effort in place to tackle insecurity. Because without security most businesses would not like to remain there, coz there life and property will be threatened.

[Agbe]

The pain of being an entrepreneur in current day Nigeria is excruciating.

Today enterpreneurs in Nigeria are faced with the challenge of high cost of rent, hike in transportion and poor power supply.

So many businesses have shutdown completely while others are making plans to relocate. Unfortunately many young entrepreneurs have killed their dreams of becoming business owners courtesy of am unrealistic business environment.

What can be done to encourage enterpreneurs in Rivers State, Port Harcourt?

River State is a very expensive state to live in, accommodation , feeding, is very expensive, and there are even some part of the state that don't even have electricity. So to encourage entrepreneur in a state such as this, the government should state by having a source that constantly supply light since there are a lot of companies there that requires light for their operations, also the economy should be improve by depending more on production rather than buying from other states. Also there should be enough effort in place to tackle insecurity. Because without security most businesses would not like to remain there, coz there life and property will be threatened.

unfortunately power is not in the power of the state to produce because as you are aware power has been privatized in the country so private individuals is the one controlling power that is been supplied by the national grid, Nigeria is still far from having a constant power supply because as a country Nigeria is not ready for industrialization which is linked to entrepreneurship so any one setting up a business in any part of Nigeria should be ready for the pains that are associated with owning a business in the country