Post Image
  Business failure is common in most parts of the world, however, most businesses that experience failure are mostly startups and small businesses.
Read more about Business
In as much as most Nigerian startups have grown significantly over the past few years due to the population of the country and the total addressable market, it is still evident that most small businesses and startups experience business failure especially within the first five years of operation. However, if you are a small business owner, it is important that you don’t let the failure of other businesses affect you or make you jettison or kill your entrepreneurial morale and spirit. The most important thing is for you to understand the common reasons why small businesses fail and know how to avoid these common pitfalls. There are various reasons why small businesses fail in Nigeria and some of the reasons include:
  1. Copying Other Businesses

Nigeria is a complex country and anyone who wants to do business within the country has to understand its competitive market, nevertheless, it is not an avenue to copy from businesses you should be learning from. Every small business is bound to fail if it always copies what other businesses are doing. A business needs to demonstrate originality and should be able to make vital decisions on its own, rather than making decisions because others did it. Oftentimes, trying to imitate other businesses without doing proper consultations would do more harm than good, especially if the purpose is to succeed or generate more sales.
  1. Poor Financing/ Mis-Management of Funds

This is one of the major reasons why small businesses fail in Nigeria, this is as a result of common mistakes made by startups and entrepreneurs. The majority of small business owners tend to start up a business without adequate funding, and then along the line, when the funds are not forthcoming, they become discouraged and frustrated and decide to close down.
Sign up to the Connect Nigeria daily newsletter
In addition, it is one thing to have adequate funds for your business and it is another thing to properly manage these funds, because even if you have adequate funds and you cannot manage these funds and channel them to the right areas of your business, you are on the verge of failure as well. The biggest mistake made by small business owners is carelessly spending money on areas that are irrelevant.
  1. Poor or No Futuristic Plan

Building and running a credible business is one of the most difficult things you can do in your lifetime. The saying, if you fail to plan, you have planned to fail applies to every aspect of life including starting up a business, and this is why most businesses in Nigeria fail. Most Nigerian startups set up a good business without having an adequate and actionable business strategy on how to run and grow the business, and yet they expect such business to thrive, ironical right? In addition,  most business owners do not think ahead or make long-term plans, for your business to succeed it is important that you not only make short-term plans but also long-term plans that will sustain your business in the few years to come.
  1. Weak Team and Poor Leadership

Another common reason why small businesses fail is that they do not have a strong team or adequate leadership experience to properly guide the team into making the right decisions that will benefit the business. Furthermore, most business owners cannot recruit and encourage the most talented people for the jobs on which the startup’s success depends. Without the right persons on your team, your business is also on the verge of failing, because it is the people on our team and the leaders that will push the business forward. Starting and running a business successfully is not easy and the business owners have a huge role to play in the success of the business. However avoiding the above-listed mistakes, making extensive research and having the right people on your team will go a long way to ensure that your business survives the pitfalls most businesses fall in. Featured Image Source: Sabiagrik
Got a suggestion? Contact us: editor@connectnigeria.com

You might also like:
This article was first published on 26th January 2022

grace-christos

Grace Christos Is a content creator with a proven track record of success in content marketing, online reputation management, sales strategy, and so much more.


Comments (126)

126 thoughts on “4 Reasons Why Small Businesses Fail In Nigeria”


  • Viagra and generic medications containing sildenafil, on the other hand, typically take action in about one hour 5 mg cialis generic india Note, however, that this is not intended for continuous use 0 it s to be taken as needed


  • Packages take about a week to reach addresses in the US, and they can be tracked using our state of the art logistics tool where to buy priligy in usa


  • buy cialis online uk In this way, once zhu hengyu can save the demon sheep clan


  • buying cialis online safe High drug costs have become a rare bipartisan issue in Washington with lawmakers on both sides of the aisle demanding something be done


  • During the workshop, polycystic ovarian morphology on pelvic ultrasound was added to the NICHD NIH criteria. clomid usa shippments online


  • tamoxifen brand name Clomid – anti-estrogen of nonsteroid structure which is taken for treatment of anovular infertility, dysfunctional metrorrhagia, amenorrhea, secondary amenorrheas, post-contraceptive amenorrheas, galactorrhoea against the background of hypophysis tumor , syndrome of polycystic ovaries sclerocystic disease of the ovary , Chiari-Frommel disease, androgenic insufficiency, oligospermatism, diagnosis of disturbances of gonadotropic function of hypophysis.


  • doxycycline empty stomach Tail vein blood was collected at 0, 15, 30, 60, and 120 minutes after glucose injection.


  • lasix para que sirve In this instance, sperm is purchased from a certified distributor who meets all of Health Canada Guidelines


  • and the American Pharmacists Association J Pharm Sci 96 2224 2231, 2007 buying cialis online safely The pellets were then transferred to 37 C for different times


  • malegra dxt olmesartan valsartan equivalent dose Aware of the industry s potential contribution to economicgrowth, the government offers rebates which, coupled with aweaker rand, make it cheaper for foreigners to shoot here thanmore established peer locations like Australia stromectol 3 mg


  • will nolvadex raise testosterone Read more SingleCare reviews on Facebook or TrustPilot


  • Tracks 2 and 3 GATA3 ChIP seq profiles GSE28292 at two different scales 0 20 and 0 7 in Th2 cells priligy kaufen Tissues will be tested for c myc and phosphorylated glucocorticoid receptor p GR levels using validated protocols at a central laboratory


  • I have been looking for articles on these topics for a long time. baccarat online I don’t know how grateful you are for posting on this topic. Thank you for the numerous articles on this site, I will subscribe to those links in my bookmarks and visit them often. Have a nice day


  • lasix complications 1; Supplementary Fig


  • 5 C Flp SP C I73T lungs also showed qualitative reductions in aquaporin 5 AQP5 staining inversely correlated with genotype, suggesting disruption of AT2 AT1 homeostasis Figure 2E unidox solutab in usa


  • tab ivermectin 3mg It seems better if I am moving around


  • clomid online pharmacy The tumor is 20 mm to 50 mm across and has not spread to the axillary lymph nodes stage IIA


  • buy propecia in netherlands these two young performers exercise remarkable restraint, never milking the material for unearned tears


  • Wick is a senior clinical researchpharmacist at the National CancerInstitute, National Institutes ofHealth, Bethesda, Maryland mom relieves viagra accident 2010 Dec; 6 6 714 29


  • To others, a high dose of dianabol may mean nothing, so stacking is necessary clomid uses


  • Otitis media is less common in adults than in children, though it is more common in specific sub populations such as those with a childhood history of recurrent OM, cleft palate, immunodeficiency or immunocompromised status, and others pastillas priligy en mexico 3 million for the first quarter of 2013, a decrease of 7


  • cytotam vs tamoxifen reddit Progestin is a synthetic progesterone hormone and helps treat menstrual problems in women due to hormonal imbalance


  • https://drugsoverthecounter.shop/# over the counter essentials login


  • For example, we found that the interaction between yeast MAPK Fus3 bound to a peptide derived from MAPKK Ste7 pdb 2b9h, has a known binding motif 38 that was not annotated in our previous study 13 when to hold lasix however, there were still no differences between the hypothyroid group and the other women in the study


  • over the counter medication for uti over the counter water pills


  • best over the counter toenail fungus treatment what is the best over-the-counter anti-inflammatory for dogs


  • buy cialis generic In UPJ obstruction, the kidney makes urine faster than it can be drained through the renal pelvis into the ureter


  • over the counter blood thinners ivermectin over the counter walgreens


  • Ionized calcium is increased, sometimes out of proportion to the increase in total serum calcium generic clomid over the counter For that purpose, a limited literature search was conducted on key resources, including PubMed, the Cochrane Library, Corporate Receivables Inc Collection Agency, and major international health technology agencies


  • over the counter essentials united healthcare over the counter estrogen


  • Increasing evidence suggests that the widespread use of crack cocaine has increased the spread of sexually transmitted diseases, including infection with the human immunodeficiency virus HIV, because of high risk sexual practices among crack users 13 18 what is accutane used for 5 mg kg per os once daily for 28 days; five dogs received no treatment


  • 6 one can see that in both higher concentrations of 5 10 5 and 5 10 6 cfu ml, we can observe the MIC at the same time lapses how does propecia work Mickey ZBnqsmTpJRIgBnsVv 6 28 2022


  • They are 82 so 164 w o insurance buy cialis non prescription


  • https://stromectol.science/# ivermectin 3mg price


  • https://doxycycline.science/# doxy


  • https://zithromax.science/# buy zithromax no prescription


  • Kihyoun Park, Hyejin Lim Myung Shik Lee buy cialis generic online cheap


  • propecia before and after pictures Jada efPMNSegmMmWrV 6 27 2022


  • Ray WA Murray KT Hall K Arbogast PG Stein CM real cialis online


  • Read information now. Some trends of drugs.
    ivermectin 500ml
    Commonly Used Drugs Charts. drug information and news for professionals and consumers.


  • drug information and news for professionals and consumers. What side effects can this medication cause?
    ivermectin where to buy for humans
    Generic Name. Actual trends of drug.


  • Read information now. Some trends of drugs.
    stromectol order
    Read here. Some are medicines that help people when doctors prescribe.


  • drug information and news for professionals and consumers. Get here.
    ivermectin usa price
    Everything information about medication. All trends of medicament.


  • Learn about the side effects, dosages, and interactions. earch our drug database.
    https://stromectolst.com/# ivermectin uk coronavirus
    Read information now. Generic Name.


  • clomid The animal may also experience loss of appetite, fatigue, joint pain, itching, or jaundice a yellowish discoloration of the skin and whites of the eyes


  • Some trends of drugs. Read now.
    ivermectin uk
    п»їMedicament prescribing information. Everything what you want to know about pills.


  • Cautions. Medscape Drugs & Diseases.
    https://stromectolst.com/# generic ivermectin
    Comprehensive side effect and adverse reaction information. Read information now.


  • Everything information about medication. Everything about medicine.
    where to buy stromectol
    Drug information. Comprehensive side effect and adverse reaction information.


  • п»їMedicament prescribing information. Everything about medicine.
    buy ivermectin uk
    Read information now. Everything what you want to know about pills.


  • Some are medicines that help people when doctors prescribe. Cautions.
    https://stromectolst.com/# stromectol online pharmacy
    Cautions. Drug information.


  • Medscape Drugs & Diseases. Drug information.
    ivermectin oral
    drug information and news for professionals and consumers. Cautions.


  • Will it affect your health after several treatments accutane dosing Lijnen PJ, et al


  • Some trends of drugs. Comprehensive side effect and adverse reaction information.
    ivermectin canada
    Some trends of drugs. Learn about the side effects, dosages, and interactions.


  • Get warning information here. Top 100 Searched Drugs.
    stromectol buy uk
    п»їMedicament prescribing information. All trends of medicament.


  • Best and news about drug. Cautions.
    https://stromectolst.com/# purchase ivermectin
    Comprehensive side effect and adverse reaction information. Some trends of drugs.


  • All trends of medicament. safe and effective drugs are available.
    https://stromectolst.com/# ivermectin generic cream
    Get information now. safe and effective drugs are available.


  • com 20 E2 AD 90 20Viagra 20Kaina 20Vaistineje 20 20Generique 20De 20Viagra viagra kaina vaistineje Still, Schulz, 60, was a day late to join the historic launch of the first city based ETF, which began trading August 1 on the New York Stock Exchange where can i buy zithromax over the counter


  • Actual trends of drug. Read now.
    can you buy cheap nexium for sale
    Learn about the side effects, dosages, and interactions. Top 100 Searched Drugs.


  • Some are medicines that help people when doctors prescribe. Get here. https://avodart.science/# can i order cheap avodart tablets
    Read here. Definitive journal of drugs and therapeutics.


  • Prescription Drug Information, Interactions & Side. Comprehensive side effect and adverse reaction information. generic avodart prices
    safe and effective drugs are available. Cautions.


  • Actual trends of drug. drug information and news for professionals and consumers.
    where to get nexium without prescription
    Read information now. Read now.


  • Stress can worsen acne stromectol online pharmacy


  • п»їMedicament prescribing information. Medscape Drugs & Diseases.
    can you buy cheap mobic tablets
    Prescription Drug Information, Interactions & Side. Everything what you want to know about pills.


  • Read information now. Everything information about medication. how to get generic avodart no prescription
    Drugs information sheet. Some trends of drugs.


  • Get here. drug information and news for professionals and consumers.
    https://mobic.store/# can i buy mobic tablets
    Commonly Used Drugs Charts. drug information and news for professionals and consumers.


  • Cautions. Generic Name. generic amoxicillin over the counter
    earch our drug database. Commonly Used Drugs Charts.


  • Get here. Some are medicines that help people when doctors prescribe.
    zithromax coupon
    Medscape Drugs & Diseases. Read information now.


  • Everything information about medication. Cautions.
    how to get generic clomid without insurance
    Definitive journal of drugs and therapeutics. Read now.


  • Get here. Some are medicines that help people when doctors prescribe.
    can you buy propecia without insurance
    Read information now. п»їMedicament prescribing information.


  • Read here. All trends of medicament. https://amoxicillins.online/ amoxicillin no prescription
    Actual trends of drug. Get here.


  • Cautions. Some trends of drugs.
    how to buy cheap clomid prices
    All trends of medicament. Read here.


  • Some trends of drugs. Read information now.
    where can i get clomid pill
    Prescription Drug Information, Interactions & Side. Long-Term Effects.


  • Get here. Actual trends of drug.
    zithromax cost canada
    Some trends of drugs. Everything what you want to know about pills.


  • Read now. Long-Term Effects.
    cheap clomid prices
    Medscape Drugs & Diseases. Get here.


  • Prescription Drug Information, Interactions & Side. Everything what you want to know about pills.
    can i order clomid
    Top 100 Searched Drugs. Everything what you want to know about pills.


  • Long-Term Effects. What side effects can this medication cause?
    https://clomiphenes.com get clomid
    Medicament prescribing information. Top 100 Searched Drugs.


  • safe and effective drugs are available. Everything about medicine.
    zithromax capsules australia
    Read now. Definitive journal of drugs and therapeutics.


  • Everything information about medication. Drugs information sheet.
    zithromax tablets for sale
    Everything information about medication. Read here.


  • Homsy YL, Tripp BM, Lambert R, et al 1998 The captopril renogram a new tool for diagnosing and predicting obstruction in childhood hydronephrosis taking lasix and still swelling If oropharyngeal candidiasis develops, treat it with appropriate local or systemic i


  • earch our drug database. Get warning information here.
    cost propecia without rx
    Some trends of drugs. Prescription Drug Information, Interactions & Side.


  • Comprehensive side effect and adverse reaction information. Commonly Used Drugs Charts. amoxicillin 775 mg
    safe and effective drugs are available. Read information now.


  • Learn about the side effects, dosages, and interactions. Best and news about drug.
    cheapest ed pills online
    drug information and news for professionals and consumers. Comprehensive side effect and adverse reaction information.


  • Drugs information sheet. Medscape Drugs & Diseases.
    natural ed remedies
    Everything what you want to know about pills. Best and news about drug.


  • EuroMillionen Zahlen – Ziehung 1539 Wer nicht bis morgen Abend New Yorker Zeit auf einen Link geklickt habe, der bestätigt, „dass Sie Teil des neuen Twitter sein wollen“, der gelte als gekündigt. „Welche Entscheidung auch immer Sie treffen, ich danke Ihnen für Ihre Bemühungen, Twitter erfolgreich zu machen“, schrieb Musk. EuroMillionen Zahlen – Ziehung 1535 Für sämtliche teilnehmenden Länder, also auch Österreich, erfolgt eine Ziehung. Diese findet jede Woche am Dienstag sowie am Freitag statt. Um 21:30 Uhr werden in Paris die Zahlen gezogen. Wenn Sie einen Tipp abgeben möchten, müssen Sie in der Alpenrepublik dafür 2 Euro zahlen. Wobei von diesen 2 Euro 1,49 Euro als Wetteinsatz hergenommen werden und die restlichen 51 Cent die Verwaltungskosten decken sollen.
    https://www.thenaturalnouveau.com/forum/profile/hilariosimcha3/
    Im legendären 5 Walzen-Automaten von Novoline erlebt ihr die mystische Welt des alten Ägypten und begebt euch zusammen mit den Abenteurer auf Schatzjagd. Dieser Artikel macht euch mit den Book of Ra Spielregeln vertraut, stellt die besten Book of Ra Casinos vor, verrät Tipps und Tricks und vieles mehr. Momentan könnt ihr den Fünf-Walzen-Slot Book-of-Ra nur in der Spielothek oder im Spielcasino mit Echtgeld spielen. Das sehr ähnliche Automatenspiel namens Book of Dead, das eine perfekte Alternative zu dem beliebten Klassiker ist, könnt ihr mit echtem Geld im Sunmaker Online Casino spielen. Hier bei uns und auch in Online Casinos könnt ihr als Deutsche Spieler nur Book of Ra kostenlos spielen. Es gibt ebenfalls eine Novo App direkt von Novoline. Hier ist ebenfalls BOOK OF RA kostenlos enthalten. Allerdings sollten Sie bei dieser Station unbedingt darauf achten, dass diese NOVO App nur mit Spielgeld läuft. Zudem sind nicht von Anfang an alle Spielautomaten enthalten. So müssen Sie zum Beispiel BOOK OF RA DELUXE extra hinzukaufen, während der Klassiker von Beginn an dabei ist. Finden können Sie diese Novo App im Apple App-Store, Google PlayStore sowie bei iTunes. Wenn Sie lieber um echte Geld spielen wollen, kommen Sie mit einer App des betreffenden BOOK OF RA Casinos deutlich besser.


  • Best and news about drug. Generic Name.
    how can i get propecia for sale
    Cautions. Everything information about medication.


  • Everything information about medication. Commonly Used Drugs Charts.
    ed pills online
    drug information and news for professionals and consumers. Everything what you want to know about pills.


  • Learn about the side effects, dosages, and interactions. Actual trends of drug.
    https://edonlinefast.com medications for ed
    Cautions. Prescription Drug Information, Interactions & Side.


  • Long-Term Effects. Some are medicines that help people when doctors prescribe.
    https://edonlinefast.com natural ed remedies
    safe and effective drugs are available. Read now.


  • Long-Term Effects. Actual trends of drug.
    discount prescription drugs
    Read here. Long-Term Effects.


  • Get here. Cautions.
    ed meds online without doctor prescription
    Medicament prescribing information. Drug information.


  • Read now. Long-Term Effects.
    tadalafil without a doctor’s prescription
    Some trends of drugs. Some are medicines that help people when doctors prescribe.


  • Top 100 Searched Drugs. Read here.
    dog antibiotics without vet prescription
    Get here. Drug information.


  • Read information now. Comprehensive side effect and adverse reaction information.
    cvs prescription prices without insurance
    Everything about medicine. Learn about the side effects, dosages, and interactions.


  • Another common mutation consists of an intron 8 anomaly, called 5T 112 how much does cialis cost For hormonal imbalances like a low testosterone level, Dr


  • All trends of medicament. Everything information about medication.
    prescription drugs without doctor approval
    What side effects can this medication cause? Long-Term Effects.


  • Read here. Everything what you want to know about pills.
    pet meds without vet prescription
    Everything what you want to know about pills. earch our drug database.


  • Definitive journal of drugs and therapeutics. Get here.
    https://canadianfast.com/# canadian pharmacy
    п»їMedicament prescribing information. Medscape Drugs & Diseases.


  • Read now. Prescription Drug Information, Interactions & Side.
    reliable canadian online pharmacy
    What side effects can this medication cause? Read now.


  • Everything information about medication. Get information now.
    https://canadianfast.com/# how to get prescription drugs without doctor
    Definitive journal of drugs and therapeutics. Best and news about drug.


  • PMC free article PMC4532707 PubMed 26092062 cialis for daily use Treatment was regarded as effective if ICP decreased 10 below baseline value or if the pupillary reaction had normalized


  • Definitive journal of drugs and therapeutics. Get warning information here.
    viagra canada pfizer
    Medicament prescribing information. Read now.


  • Medscape Drugs & Diseases. earch our drug database.
    sildenafil generic usa
    Read information now. Long-Term Effects.


  • drug information and news for professionals and consumers. Prescription Drug Information, Interactions & Side.
    order sildenafil canada
    Drugs information sheet. Everything information about medication.


  • Long-Term Effects. Read information now.
    viagra levitra which is best
    Read information now. Long-Term Effects.


  • earch our drug database. Generic Name.
    https://viagrapillsild.com/# price of generic viagra
    Get warning information here. Medscape Drugs & Diseases.


  • The BetMGM Casino bonus code rewards you with a $50 no deposit bonus immediately after registering at the gaming site, which is the biggest signup bonus with no deposit available. That can be used on some superb games like Starburst and Cleopatra, while the only games you can’t play with your no deposit bonus are jackpot slots or poker. Best No Deposit Pokies Canada – Win real money with no deposit required at online casinos Canada Are you seeking an exciting gaming experience with a slick and elegant online casino? Exclusive Casino indeed fulfills your desires with access to a wide range of games that are both entertaining and lucrative, thanks to Realtime Gaming’s (RTG) software solutions. The government of Curacao, a renowned iGaming business, has approved Exclusive Casino to provide casino games to virtual players in 2013.
    https://mrcoinhodler.com/forum/profile/xssbyron3079278/
    Try that again. European Roulette Gold Series is a fantastic game by Microgaming that will no doubt appeal to all roulette lovers out there. It features all the basics plus many exciting add-ons that transform it to a whole new level of entertainment. Making that extra step and playing with real money is something definitely worth trying, especially with the James Bond roulette strategy. To experience its multiple betting options, customisable layouts and simple but beautiful graphics, refer to our Ladbrokes casino review. Unfortunately, Gold Bar Roulette does not lend itself well to strategies. Furthermore, we think Evolution did this intentionally. Only straight-up bets can produce gold bars. Because you have a limited number of gold bars, you cannot effectively cover parts of the roulette wheel. It all comes down to whether or not you get lucky; no cheating the system allowed!


  • Everything what you want to know about pills. Drug information.
    https://tadalafil1st.com/# tadalafil 10mg coupon
    Read information now. Comprehensive side effect and adverse reaction information.


  • Get warning information here. Medscape Drugs & Diseases.
    medicine tadalafil tablets
    Learn about the side effects, dosages, and interactions. Actual trends of drug.


  • Drugs information sheet. Get warning information here.
    tadalafil 40 mg online india
    Everything about medicine. Commonly Used Drugs Charts.


  • Some trends of drugs. safe and effective drugs are available.
    generic tadalafil canada
    Definitive journal of drugs and therapeutics. Read now.


  • Long-Term Effects. Top 100 Searched Drugs.
    https://tadalafil1st.online/# generic cialis lowest prices
    Everything what you want to know about pills. п»їMedicament prescribing information.


  • Comprehensive side effect and adverse reaction information. Actual trends of drug.
    online tadalafil prescription
    Learn about the side effects, dosages, and interactions. п»їMedicament prescribing information.


  • Definitive journal of drugs and therapeutics. Read information now.
    canadian pharmacy no prescription generic cialis
    Get warning information here. Some are medicines that help people when doctors prescribe.


  • Cautions. Get information now.
    cost of tadalafil in canada
    Generic Name. Long-Term Effects.


  • buy cialis 20mg One child, with a dilated type cardiomyopathy, developed an intractable congestive heart failure, necessitating cardiac transplantation at the age of 13 years


  • Read now. Everything about medicine.
    https://amoxila.store/ buying amoxicillin in mexico
    п»їMedicament prescribing information. Definitive journal of drugs and therapeutics.


  • Prescription Drug Information, Interactions & Side. Everything about medicine.

    https://prednisoned.top/ prednisone canada prices
    Long-Term Effects. Some are medicines that help people when doctors prescribe.


  • male dysfunction: errection problems – erectile dysfunction treatments


  • buy ed pills online: erectile dysfunction remedies – errectile disfunction


  • generic ed pills: ed doctors – ed pills online


  • sildenafilo cinfa 100 mg precio farmacia: sildenafilo cinfa 100 mg precio farmacia – sildenafilo cinfa sin receta


  • viagra online in 2 giorni: miglior sito dove acquistare viagra – viagra acquisto in contrassegno in italia


  • Viagra homme prix en pharmacie: Viagra homme prix en pharmacie sans ordonnance – Viagra femme ou trouver


  • miglior sito dove acquistare viagra: esiste il viagra generico in farmacia – pillole per erezione in farmacia senza ricetta


  • farmacia gibraltar online viagra: comprar viagra online en andorra – viagra online gibraltar


  • sildenafilo cinfa precio: se puede comprar sildenafil sin receta – farmacia gibraltar online viagra

Leave a Reply

Your email address will not be published. Required fields are marked *