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?

[bitterguy28]

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

most of us have no idea mate we are not from nigeria and no matter how much context you give us we would not be able to fully realize the state of your country let alone what could be best for your economic state there is a board here in this forum called nigerian languages so i would advise you to go and post this here as i am sure your fellow nigerians would understand more what you are trying to ask and could give you a more valuable insight since you guys are the ones living in nigeria

[rachael9385]

I'm glad you mentioned Rivers state, Port Harcourt precisely. Man the cost of being an entrepreneur in that city is too expensive especially when you are a stranger, that is totally greediness how can a single shop alone be rented for a million naira before sticking the shop before considering customers that alone would add to the increase in price of goods in that area.

[Chilwell]

I'm glad you mentioned Rivers state, Port Harcourt precisely. Man the cost of being an entrepreneur in that city is too expensive especially when you are a stranger, that is totally greediness how can a single shop alone be rented for a million naira before sticking the shop before considering customers that alone would add to the increase in price of goods in that area.

Being an entrepreneur in Nigeria is extremely challenging. There are numerous obstacles to overcome. Putting government issues aside, one of the major problems is the exploitative behavior of some individuals.

For instance, renting an apartment can be a daunting task. It's outrageous to charge one million naira for a single apartment, this is pure wickedness, especially when the landlord takes advantage of the tenant's vulnerability, knowing they're new to the state and have limited options. This kind of exploitation is unacceptable and highlights the need for greater regulation and protection for tenants. Only God knows the struggles and sacrifices the entrepreneur makes to raise capital to start a business. The same person also works hard to provide for their family's needs. It's disheartening to see others, driven by greed and wickedness, adding to their problems and making life even more difficult for them.

[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?

  With the current economic situation in Country Nigeria is one of the worst places that someone can actually start a business because the Nigerian environment is not one that actually supports small scale business not to even talk about starters because of key aspects of business is constant power supply and access to good transportation systems of which we know currently speaking that there is no power supply in the country so business owners has to generate their own power for them selfs and with the current price of fuel a lot of business has no options than to Close down secondly the cost of transportation is something else so transportation of goods from one place to the other is a problem because with the removal of subsidy on fuel fuels has become out of reach for the ordinary Nigeria so there are a lot of problems associated with being an entrepreneur in Nigeria

[Penlex_Writer]

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.

[Rruchi man]

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

it is a difficult task being a successful entrepreneur in Nigeria but that is not to say that they are not those who are successful in entrepreneurship so far. The challenge is bigger than the obstacle so you require more technical skill in business to be able to navigate successfully through the ever changing policies and the difficult economic terrain to operate business.

[albon]

Finding credible information to ensure a place in the nigerian market continues as a challenge. Moreover, many companies who are doing business in migeria face the same problem. The difficulty of finding the necessary information among many other challenges reduces the chances of achieving business success in the nigerian market.
Anyway,  it is important to understand the main challenges of doing business in nigeria because doing so will help you to alleviate potential risks and to speed up your business goals. As far as i know, adverse business environment, difficulty in finding skilled workers, a weak state of infrastructure, lack of market information and data all things have more effect.

[Aanuoluwatofunmi]

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?

Inflation is what many countries are also battling, not only in Nigeria this is being felt, we have to understand why we should be more hardworking in whatsoever thing we do in other to make us independent of what the leaders and those in power provides or promised to provide, in any business we do, we have to face the challenge thereof, not to discourage us, but to make us stronger in other to face the bigger obstacles in the future and overcome.

[bisdak40]

It’s tough right now, but don’t give up. Tough times often push out the best ideas and solutions. Keep pushing, look for creative ways to cut costs, and network with other entrepreneurs for support. Things can get better, and your hustle will pay off.

[Agbe]

It’s tough right now, but don’t give up. Tough times often push out the best ideas and solutions. Keep pushing, look for creative ways to cut costs, and network with other entrepreneurs for support. Things can get better, and your hustle will pay off.

You sound more like a motivational speaker because with the way you are sounding but the fact is that these kind of speech will do little or nothing because the fact is that the Nigerian business economy system is not business friendly due to several factors that militates entrepreneurship in the country and one of such is the problem of power because setting up a business with out appropriate power supply affects the progress of such business because as far as Nigerians are concerned we have this spirit of not giving up in the face of challenges so but government has failed in it responsibility in making sure that the Nigerian business environment is friendly to people with the mind of setting up one form of business or the other

[Didia Sofunichi]

I'm glad you mentioned Rivers state, Port Harcourt precisely. Man the cost of being an entrepreneur in that city is too expensive especially when you are a stranger, that is totally greediness how can a single shop alone be rented for a million naira before sticking the shop before considering customers that alone would add to the increase in price of goods in that area.

It's not a funny experience at all. Enterpreneurs are not finding is easy here in the city of Port Harcourt. Landlords and the government have a fair share of the blame

[Didia Sofunichi]

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

it is a difficult task being a successful entrepreneur in Nigeria but that is not to say that they are not those who are successful in entrepreneurship so far. The challenge is bigger than the obstacle so you require more technical skill in business to be able to navigate successfully through the ever changing policies and the difficult economic terrain to operate business.

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

[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?

Inflation is what many countries are also battling, not only in Nigeria this is being felt, we have to understand why we should be more hardworking in whatsoever thing we do in other to make us independent of what the leaders and those in power provides or promised to provide, in any business we do, we have to face the challenge thereof, not to discourage us, but to make us stronger in other to face the bigger obstacles in the future and overcome.

Challenges will make us stronger no doubt but not every beginner has the capability to face the challenges that's why we advocate for favourable conditions for beginners

[Didia Sofunichi]

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

it is a difficult task being a successful entrepreneur in Nigeria but that is not to say that they are not those who are successful in entrepreneurship so far. The challenge is bigger than the obstacle so you require more technical skill in business to be able to navigate successfully through the ever changing policies and the difficult economic terrain to operate business.

I agree that it's a difficult task and that people are being successful but at what cost? The cost is an expense price to pay and that's why the government needs to make the environment favourable