By Joy Essien Raising prices is one of the most challenging operational decisions facing any business owner. The fear of losing customers, particularly in a competitive market such as Lagos, can make the decision even more difficult. However, when approached thoughtfully, a price increase can strengthen customer trust, improve profit margins and position a business Read More…
By Joy Essien For small and medium-sized enterprises (SMEs), the fourth quarter is more than a countdown to the end of the year. It is a critical period when businesses must balance the demands of peak-season sales with preparations for the year ahead. Being Q4-ready means having the stock, staff, cash flow and operational systems Read More…
By Joy Essien Lagos is more than Nigeria’s commercial nerve centre; it is a gateway through which local manufacturers can take their products to regional and international markets. With access to major seaports, an international airport and an expanding non-oil export sector, the city offers opportunities for businesses ready to move beyond the domestic market. Read More…
By Joy Essien For small and medium-sized enterprises (SMEs), staying in business in Nigeria’s bustling commercial centres, particularly Lagos and Abuja, requires more than generating sales. Business owners must contend with fluctuating inventory replacement costs, foreign exchange volatility, delayed client payments and rising logistics expenses, all of which can put pressure on available cash. A Read More…
By Joy Essien Starting a business in Lagos involves more than choosing a name, finding customers and opening a bank account. One of the earliest decisions an entrepreneur has to make is choosing the legal structure under which the business will operate. For many small-business owners, the choice comes down to two familiar options: registering Read More…
By Joy Essien A business may take decades to build, but its future can be put at risk in the space of a few years if there is no clear plan for who takes over when its current leaders step aside. Succession is therefore not simply about replacing a departing executive or handing a family Read More…
By Joy Essien A workplace may be small in numbers, but the culture within it can have an outsized effect. In a close-knit team, a careless word can linger, a thoughtful gesture can lift morale, and the way leaders respond to mistakes or new ideas can quickly become the unwritten rule for everyone else. A Read More…
By Joy Essien Running a small business in today’s digital economy means operating on a frontline that is largely invisible until something goes wrong. Every email account, customer database, payment platform, laptop and cloud application can become an entry point for a cyberattack. The idea that cybercriminals only pursue large corporations with deep pockets is Read More…
By Joy Essien Lagos is one of Africa’s most energetic commercial centres, and increasingly, its marketplace fits into the palm of the hand. From Instagram shops and WhatsApp catalogues to fully integrated online stores, small and medium-sized enterprises are discovering that selling online is no longer simply an option—it is an important part of staying Read More…
By Joy Essien Access to affordable finance can be the difference between an SME that merely survives and one that is able to scale, hire, invest and compete. In Lagos, where ambitious entrepreneurs operate in everything from manufacturing and retail to technology, services and the creative industries, knowing where to find suitable financing – and Read More…