With consumers shifting away from the physical shopping trend towards home delivery services, technological growth has paced up in the sector. This has made logistics services one of the leading
business formats in the online marketplace.
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Many businesses are now engaging
logistic services to deliver their products and even services, at times. In fact, Amazon started out as a logistics company before it turned out to become the multi-billion worth industry it is today. Knowing the profits to be generated from logistics, a large percentage of businesspersons are making huge investments for a taste of the enterprise.
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Get Your Capital
When starting a new enterprise, one will need to consider the capital. You will need cash to start a business so start fishing for the capital. If your personal savings is not sufficient for the cost of the start operation, there are grants that abound to fill up that vacuum.
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Start Marketing
Contrary to popular opinion, you need to start marketing even before business operations start. Marketing is a research-based activity that helps you profile your audience, determine your unique selling proposition, develop your brand, identify access to the market while monitoring your growth. Hence, starting with marketing at an early stage will help you gain better insights into the market, as well as provide a means for you to begin a positive relationship with your potential customers.
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Carry Out The Necessary Certification
In Nigeria, it is legally required that you get your business certified by the CAC. Although getting certified can be a time-consuming endeavour, to prevent unnecessary penalties from the government, it is best to get your business registered beforehand. By being registered, you are granted the right to operate. Also, the certificate of incorporation provides small businesses in Nigeria with a good reputation, as well as legal recognition.
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Ensure Taxes Are Cleared
Again, to avoid penalties from the government, you should also get yourself cleared of all the tax payments required of all business enterprises in the country. While indigenous companies are expected to pay 30% of the profit made within and outside the country, foreign companies pay 30% of the profit made only in Nigeria. For both types of firms, there is an educational charge pegged at 2% of the assessable profit while 10% withholding tax is deducted from dividend payments to companies and individuals.
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Determine Location Of Operation
Even in logistics, location can also be very important. The main focus of logistics is to reduce costs, improve efficiency, as well as customer service. Determining the scope of your operation by location is the best way to achieve these targets.
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Purchase Vehicles
It is wise to take your time in choosing vehicles that can stand the test of time with all the errands to be run for your logistic company. This means your drivers will have reliable vehicles for the job. This leads to efficiency and speed of service.
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Hire Trust-Worthy Employees
The growth in the logistic industry is skyrocketing in recent times, but to ensure these growth areas are consistent with your enterprise, ensure that you hire employees with the right skill sets. Asides, from skill sets, you will need to target individuals with integrity and character.
Do not be too concerned about the increased number of logistic businesses in Nigeria. If you feel the delivery sector is your forte, your only limitation is your perception. Take a step to pursue your dream and do not forget to bank on the advantages of technology.
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This article was first published on 2nd August 2021
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.
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