Economy
How The Internet Can Help Your Business Grow
If you’re serious about building your business, the internet is one of the best tools you can use. This strategy is important because it empowers you to communicate with your online audience and then convert those prospects into business sales.
Online shopping is one of the century’s new norms. You don’t want to confine your marketing efforts to traditional advertising techniques.
For many though, it’s hard to imagine shifting away from traditional business growth strategies. The internet, though it’s been around for a long time now, is still a mystery to people.
Don’t let a lack of knowledge hold you hostage. There are millions of ways the internet is helping businesses of all sizes grow and become successful.
How Can It Help Your Business Grow
Growing your business using online methods and traffic is one of the best ways to put your business on the map. You are able to reach a wider range of clientele and create a brand image that is unique to your company.
Depending on the type of business or service you provide, you’ll find yourself with customers from every corner of the globe. These days making money online has never been easier. There are many strategies that you can adopt to help you achieve this goal. But, before you start making money online you need to understand just how the internet can help you grow your business and why it is such a powerful tool.
- Through Online Marketplaces
Online marketplaces are one of the best ways to grow your business. There are multiple strategies that business owners can deploy on these platforms. You can use them to help sell your products, digital books (ebooks), apps, online courses, etc. These styles of companies are geared toward getting businesses and customers to connect.
The significant thing about creating digital products is that you can also use your other social platforms to promote your products. This is a great way to drive traffic to your store within the marketplace and help you build a dedicated market for your work.
- Through Blogging
Blogging has turned into an incredibly successful brand-building strategy. It enables business owners to connect with potential customers, clients, and build an audience in a way that is completely organic.
This is one of the best ways that the internet or having an online presence benefits a business and helps it to grow. One of the best ways you can use blogging is to create engaging content that your audience finds valuable. People are drawn to those they feel they can connect with and as such, it is a way that businesses can connect on a deeper level with their customers.
Blogging can be completely unique, having a very specific voice, and helps to carry the message of any given company, individual, or other entity. There are numerous strategies that can be employed to make your blog engaging such as doing Q&A post, making content from customer suggestions
This can truly help to develop brand recognition and visibility.
3. Through Social Media Optimization
Social media optimization is an incredibly savvy internet marketing strategy that business owners can use to help their organizations grow online. This technique works by connecting the businesses with prospects that are already looking for their service. It’s a form of structuring your social media platforms to engage with those that are interested in what you offer, but it does so in a sophisticated and intuitive manner.
Social platforms are a lot more organic in nature. There is a relaxed atmosphere when engaging in content and this is how businesses are able to place themselves in front of the right audience without seeming pushy or aggressive. In traditional forms of marketing, this can be a harder feeling to recreate.
4. Through Online Reviews and Customer Engagement
Online Reviews and customer engagement are some of the greatest benefits of having access to the internet. As a business, one thing you always want is to have good reviews. Better yet though is having those positive reviews placed in front of the right audience. This is how having an online presence helps to grow your business. Customers can directly engage with you and talk about the experience with your company. It is organic and not forced. This will give potential customers a good look at the type of business you are and how you treat your customers.
In terms of customer engagement, it works in the same way. Addressing customer issues and concerns in a timely manner and positively helps with your image and turns into successful sales.
If you’re serious about growing your business, then you need to build an online presence. With the way the world is growing and changing, not doing so can see your business being left behind. It’s easy to get started and you’ll learn along the way which is a part of business ownership.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) says the rollout of electronic invoicing (e-invoicing) will strengthen tax compliance, curb revenue leakages and improve transparency in tax administration as it moves to fully digitise the country’s tax system.
The Project Lead for the NRS e-Invoicing Project, Mr Mohammed Bawa, stated this at the DigiTax E-Invoicing Compliance Breakfast Session held in Lagos on Wednesday.
The event, organised by DigiTax, an NRS-accredited e-invoicing platform, formed part of efforts to support the agency’s ongoing education and sensitisation campaign on the e-invoicing mandate.
Mr Bawa said the initiative aligns with global trends in tax digitisation and is expected to help improve Nigeria’s tax-to-GDP ratio, which remains one of the lowest in Africa.
According to him, the system will provide the NRS with greater visibility into transactions across sectors, formalise activities within the informal economy and standardise invoice formats nationwide using globally recognised invoice schemas.
He added that e-invoicing would improve operational efficiency for both businesses and tax authorities while supporting the NRS’ transition from manual and electronic tax administration processes to a fully automated system-to-system interaction model.
Mr Bawa noted that the legal framework for implementation is backed by the Nigeria Tax Administration Act, which prescribes penalties for non-compliance.
He disclosed that the NRS has completed onboarding large taxpayers and is preparing to enforce compliance with defaulting entities.
According to him, medium taxpayers are expected to begin compliance in the third quarter of 2026, while onboarding of emerging taxpayers will commence in 2027, with full adoption targeted for all taxpayers by the end of 2028.
Mr Bawa urged taxpayers yet to be onboarded onto the platform to begin the process and work with accredited service providers to ensure compliance.
On his part, Country Director of DigiTax Nigeria, Mr Olumide Akinsola, urged businesses to look beyond their internal systems and assess the compliance status of suppliers and counterparties.
He warned that businesses whose suppliers fail to transmit invoices through the MBS platform risk losing eligibility to claim Value Added Tax (VAT) input credits on such transactions, describing the resulting supply chain exposure as a significant commercial risk that many organisations have yet to quantify.
Mr Akinsola also announced the launch of DigiTax’s white paper, The State of E-Invoicing Readiness in Nigeria, which examines compliance adoption trends and the readiness gap across different taxpayer segments.
He added that DigiTax operates in Nigeria, Kenya, Zambia and the United Arab Emirates (UAE), noting that experience from those markets shows businesses that integrate early are better positioned to avoid disruptions when enforcement begins.
By Aduragbemi Omiyale
The names of about 100,000 companies registered by the Corporate Affairs Commission (CAC) are about to be deleted for inactivity, especially for failing to file their annual tax returns, Business Post reports.
This information was disclosed by the CAC via a notice signed by its management on Wednesday, July 15, 2026.
The list contains organisations like the Nigeria-Poland Chamber of Trade Invest Ltd, Alariwo of Afrika Ltd, Ovation Sports International, First Union Pension Fund Administrators, Investopedia Limited, Baptist High School Abuja Ltd, and Yobe Aluminium Manufacturing Industries Ltd, amongst others.
In the statement, the commission said its decision to strike off the names of the affected firms from the register aligns with the provisions of Section 692(3) (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
However, the affected companies can still salvage the situation by filing all outstanding annual returns and regularising their records within 90 days.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the register without further notice,” it declared, expressing its continued commitment to providing prompt and efficient registration and regulatory services to the satisfaction of its valued customers.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange gained 1.75 per cent on Wednesday, July 15, pushing the NASD Security Index (NSI) up by 74.20 points to 4,316.51 points from 4,242.31 points, as the market capitalisation added N44.54 billion to finish at N2.590 trillion compared with the preceding session’s N2.546 trillion.
During the session, there was an 11.5 per cent rise in the value of transactions at midweek to N72.7 million from the preceding session’s N65.2 million, as there was a 3.7 per cent growth in the number of deals to 28 deals from the previous session’s 27 deals, while the volume of securities slumped by 64.5 per cent to 4.9 million units from 13.7 million units.
At the close of trades, Great Nigeria Insurance (GNI) Plc ended as the most active security by value on a year-to-date basis, with 3.4 billion units worth N8.4 billion, with the second spot occupied by Infrastructure Credit Guarantee (Infracredit) Plc after selling 2.3 billion units valued at N6.5 billion, and the third position was taken by Central Securities Clearing System (CSCS) Plc, which exchanged 74.3 million units for N5.3 billion.
GNI Plc also finished the trading day as the most traded stock by volume on a year-to-date basis, with a turnover of 3.4 billion units traded for N8.4 billion, followed by Infracredit Plc with 2.3 billion units transacted for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
Business Post reports that the market breadth index was negative yesterday, as there were two price gainers and three price losers.
11 Plc added N22.36 to its value to close at N250.00 per share versus N227.64 per share, and CSCS Plc improved by N7.95 to N90.35 per unit from N82.40 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc lost N1.37 to end at N150.00 per share versus N151.37 per share, UBN Property Plc depreciated by 6 Kobo to N1.75 per unit from N1.81 per unit, and Food Concepts Plc dropped 1 Kobo to close at N2.49 per share versus N2.50 per share.
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