Africa as a continent needs a lot of startups, entrepreneurs, innovators and venture capitalists. I’m going to list here the reasons I’m starting a new business in Nigeria.
TOO MANY PROBLEMS TO BE SOLVED
The mindset of those that are not entrepreneurs is that presently, Nigeria is not a place to do business. They have point but they have not done their assignment right. Presently in Nigeria, there are many virgin problems looking for a great solution provider which is you to give them virgin solutions. Most Nigerians depend or looking forward to the Government to do these for them but as an entrepreneur, it is a great opportunity to make our hands dirty. Problems like Power, Foreign Exchange, Transportation and many more are not to be left out to the government, let try to solve part of it too.
LARGE POPULATION WITHOUT CHOICE
In Nigeria presently, any solution you give that is unique if not even robust will be largely patronized. For example, you see a problem and built a software either mobile or web to solve it, Nigerians will patronize in a much it solve their major problem even if the software is still crappy. As an entrepreneur, you keep perfecting your software and your subscribers increase.
GOVERNMENT IS PAVING WAYS:
Since Nigeria has been stucked in the economic recession, the Government has no other choice than to pave ways for entrepreneurs with a level play ground to start doing business. The Government 2017 Budget has a great provision for who want to start their businesses with flexible and attractive playing ground. Hope you will be ready to grab that.
BANKS ARE READY TO HELP
One of the surprising things now in Nigeria business circle is the removal of the notion that banks don’t recognize entrepreneurs. Nigerians banks now see reasons to give flexible loans to entrepreneurs in any field because people they think will patronize them have crashed down. So, for them to be in business, most banks in Nigeria now have window for entrepreneurs to secure loans. If you are sure of your business plans, future and projection, just approach any commercial bank and micro-finance bank and make findings. The issue of no capital will be solved.