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5 Small Business Financing Options to Fuel Your Growth
When running a small business, securing the right financing can make all the difference in scaling your operations, managing cash flow, and seizing growth opportunities. Navigating the plethora of financing options available can be daunting, but understanding your choices is the first step toward making an informed decision. Here, we explore five small business financing…
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Why Do SMEs Fail in Nigeria?
Small and Medium-sized Enterprises (SMEs) are the backbone of Nigeria’s economy, contributing significantly to employment and economic growth. Despite their importance, the failure rate among SMEs in Nigeria is alarmingly high. According to recent statistics, about 80% of SMEs in Nigeria fail within the first five years. Understanding the reasons behind these failures is crucial…
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Credit Utilization: Should I use it all?
After receiving credit from Yana, what next? Do you have to use it all up? Credit is a very important tool that fuels your business growth and provides financial flexibility. However, there is a misconception that credit must be utilized all at once, similar to bank loans. In this blog post, we want to educate…
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5 Ways to Get Out of A Breakeven
Breakeven is simply a point in your business where your business profit = business expenses. You’re not making any money, but neither are you in debt. It can be a difficult point for any business to be in because the business is just stagnated. At this stage, the business is not growing but is also…
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The Hilda Baci Story: 3 Key Lessons For Business Owners
Chef Hilda Baci embarked on a journey to break the world record for longest cooking time. What lessons can business owners across Nigeria learn about 2 years of hardwork and 100 hours of sheer determination?
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7 Reasons No One Is Buying From Your Business
One of the biggest worries of any business owner is to be seemingly doing the right things, and not getting results that match up. As a business owner, going days or weeks without making any sales can be quite frustrating. But, there’s a chance that the reason why this may be happening is as a…
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How to Make Good Instagram Reels For Businesses
Instagram reels were introduced in 2020 to compete for a space in the video creation market. 4 years later, it is still Instagram’s algorithm’s most favoured feature. Although it has existed for almost 4 years, not all businesses have been able to hack making good reels that convert into followers or buyers. Reels help expose…
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Hiring for small businesses in Nigeria: 5 things to consider
In a small business, it is very unlikely that your first hire will be a human resources person. The need for business owners to understand what to consider and look out for when hiring is of utmost importance. Here are 5 important things you should think about and carefully consider when hiring for your business:…
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5 Habits of Succesful Business Owners
In Nigeria, most people begin businesses for 2 major reasons. Another widely popular reason is – ‘I want to be my own boss’. But beyond being your own boss or just doing it to pass the time, businesses that will thrive and succeed must have owners at the helm who are determined to invest in…
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How To Start a Food Business in 2024
Starting a food business is definitely not for the weak or faint-hearted. From the risk of wastage to quality assurance measures and rising food prices in Nigeria, it’s not a business one can do on the side without proper management and team. But the food business is also lucrative if you get the food right.…