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Moreover, investors have also stated that the most populous black nation on earth is among the final frontier for new investment opportunities.
So what does it mean to be investible?Running an investible business is the ability of your business to attract investors because they believe that your business can generate revenues and yield attractive returns. Aside from seeing an investible business from the prism of money and finance, experts have stated that an investible business includes environmental, social, and governance practices (ESG) as well as diversity, equity, and inclusion (DEI). While ESG and DEI are not too familiar among businesspeople in Nigeria, one way or the other successful businesses practice them without knowing. Also, ESG and DEI vary from one territory to another. For instance, ESG is the ability and the capability of a business to follow indigenous ethics and inclinations, while operating within the framework of internationally accepted standards of doing business. Doing business in Nigeria goes far more than deploying aggressive innovation. It is all about having a business an investor can trust. In this article, I suggest four ways to make your business investable in Nigeria.
Build Your Business On Transparency
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It is staying in the good books of the law. Business transparency is lacking in Nigeria, hence, so many businesses are not investible. Apart from being within the boundaries of the law, businesses that employ transparency go through auditing accounts and establishing internationally accepted ESG frameworks. Also, a transparent business has in place human resources that regulate talents. With the right transparent models and operations, businesses make themselves investable.
Focus on Institution Building
Build Economization Products
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Prior, powdered milk and chocolate were packaged in large tin containers which favoured the middle and upper class, but excluded huge demography of low-income earners. This strategy tripled Promasidor’s revenues.
Final WordsIn conclusion, building an investable business in Nigeria comes with understanding both internal and international standards of doing business. It is also about knowing the dynamics of the Nigerian business ecosystem and knowing how to consistently generate revenues. It is also about instituting survival and coping mechanisms. Featured Image Source: Justin Morel Junior
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