September 26, 2017

Entrepreneurship development and business plan

Entrepreneurship development and business plan... NAIJA INVEST

It is widely recognised that a thriving small and medium-sized business sector led by entrepreneurs is essential for economic growth in developing countries. In most developed economies, such as those of the US and Europe, small businesses are the engines of economic growth, driving innovation and productivity while continually generating new jobs. The absence of such “developed small- and medium-sized enterprises sector” in developing economies continues to thwart the development of a vibrant private sector. All over the world, entrepreneurs share some common characteristics:  they are confident, alert to new opportunities and unlikely to be stopped by fear of failure….

Why you need a good business plan

Why you need a good business plan.. NAIJA INVEST

If you have a ‘kick’ to go into business and you choose to wholly commit the visioning of the business into a consultant’s hand, the visioning may fail to generate in you the needed creative tension and passion to drive the business to success. A prepared business plan on one hand, your involvement in the writing of the plan will also raise some level of healthy emotions in you to withstand the initial turbulent period a new business passes through. This is one challenge confronting implementation of projects that Nigerian governments have been trying to carry out: someone sees the…

Business plan and profitability communication (2)….By Goke Ilesanmi

MARKET ANALYSIS...NAIJA INVEST

MARKET ANALYSIS … It is important to think in advance about the type of information you need to ask and  ask people the same questions each time, so that their answers can be compared and summarised. A convenient way of doing this is to prepare simple questionnaires, which can be used by entrepreneurs to remind themselves of the questions to ask. Product quality survey As regards the choice of fruit or vegetable product business mentioned last week, consumers are familiar with the types of fruit or vegetable products that are already on sale and surveys on these products are therefore…

Business plan and communication of profitability….By Goke Ilesanmi

Business plan and communication of profitability....By Goke Ilesanmi... NAIJA INVEST

A business plan is a formal document that communicates the direction of a business in a bid to accomplish its most important goal, that is, profitability.Profit does not come by accident. So by writing and following a business plan, you can definitely increase the possibility of achieving profitability. Whether you want to start a business or grow one, attract investors or obtain a loan, attempting to do it without a well-composed business plan is like a stranger going to a place without prior direction. Or better still, it is like a ship without a rudder (which controls its direction). Let…