Challenges Of Starting SME In Nigeria
Small and medium-sized enterprises or small and medium-sized businesses are businesses whose personnel numbers fall below certain limits. They are mostly owned and operated by individuals, most times such businesses are not always cooperate/elaborate business compared to bigger businesses, organizations and companies..
The stress of starting a business in Nigeria can be very challenging and sometimes frustrating. The expectations and optimism of every business starters is to penetrate the market like the lion king only for the business to move slow like a tortoise. Note; the problem isn't that your products aren't amazing, but that everyone is selling the same thing. The only thing that makes our products unique is in its taste, quality and packaging.
For instance, when I started my business, I thought my friends and family would help in boosting and patronizing my brand, but their contributions was little and less encouraging. I got more cheers and support from strangers turned clients. I was discouraged because the market seemed slow for the kind of progress I had always hoped for but with time i was improving and making more changes and progress.
I realized that consistency, commitment and encouragements are the basic things every business needs in order to flourish and grow bigger and better. Sometimes, when you feel like giving up, your consistency will come to your rescue, when you feel down and decided to take a break for some time, your commitment shows up and gingers you to push forward, when it feels like nothing seems to be working as planned, little encouragements here and there from your supporters will uplift your inner spirit never to give up.
Therefore, I urge every business starters/owners not to be discouraged. Equip yourself with more knowledge. Create a standard for your products and keep it that way. Consistency is key to fulfillment. Don't give up, the sky is big enough for everyone to fly.