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Why do Small Businesses Fail and How to Avoid it?

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Small business owners

By Catherine Smith

A small business, and especially a start-up is a bud of a beautiful flower into which it may turn over time. This is possible if you don’t commit any of the typical but fatal mistakes that kill a business. Here we describe some of these mistakes.

  1. Poor planning

You have a great business idea and are already looking forward to seeing an amount with many zeros in your bank account. But an idea is not a business yet. A fatal mistake of many start-up entrepreneurs is that they do not plan their future actions accurately. This is partly because they cannot predict many hindrances they will face and partly because they have little business experience and are thus too impatient.

What to do?

Appropriate planning provides the lion’s share of success. You cannot foresee all details, but you have to plan how your entity will be working before you launch it. Everyone knows the examples when the idea was so brilliant that it ensured the market’s hype while proper planning was done afterwards. But in all other cases, comprehensive planning, which indicates how your business will function, is crucial.

  1. Running out of money

One of the aspects of inappropriate planning is the deficit of funding a business may face. Unexperienced entrepreneurs want to start making millions as soon as possible. They may see the perspectives unobjectively and much brighter than they are. They may take loans without planning how they would be paid back. They may spend the available capital on unnecessary and secondary things instead of paying for the needs of primary importance. And, of course, this is much more likely to happen if appropriate planning is not done.

What to do?

At the first steps of your business, no single cent should be spent without the significant need. This is especially true until the moment when your business starts generating stable cash flow. Even the first trickle of revenue is not a guarantee that it will turn into a strong stream of income. Even if a business lives for some time, do not hurry to take quick actions trying to grow it fast. If you attract external capital, plan the ways and terms of paying it back. When you think of buying expensive equipment, think a thousand times about whether it is feasible.

  1. Poor management

Management of a small business is mostly about mindset and attitude. It is often not strong enough to hire all the necessary professionals, so an entrepreneur is forced to combine several functions. This is fraught with different consequences, from lack of time because of inappropriate time management to bad decisions made because of the lack of expertise and unobjective vision. Moreover, while medium and large business is based on managerial technologies so that it depends little on a single person, in the case of small business, this dependence may be absolute. As one person bears several responsibilities at a time, their physical tonus and mood play a vital role.

What to do?

Dysfunctional management in a small business might harm and nullify every aspect of your business, from managing finance to employees’ attitudes toward work. And if productivity is constrained, it won’t be long until failure comes.

Self-educate, go to training, find a mentor – in other words, do everything possible to improve your managerial and leadership skills and expertise in the industry. Study other domains and find best practices to check whether they can be applied in your own business.

  1. Inappropriate business model

Once again, an idea and a business that is based on it and brings solid revenue streams are two different things. The main question when designing a business model is how the revenue streams will be organised. How will you monetise your idea? Once an inappropriate model is chosen, your idea will underperform and will not completely realise its money-making potential.

What to do?

This is where a business plan would be useful. Imagine that you are a customer who might buy your product or service. Will you prefer it to competing products? Do you think the price is right? How will you pay for the product? How will you know about it? Answering these questions will allow you better to understand your customer and their thoughts about your product. Try to examine other potential mechanisms of sales, such as collaboration and partnership or sales for other audiences. Launch the project only if you are sure that it will be appreciated by the market.

  1. Lack of value and originality

You may have planned and launched the business, but the sales are still low. Your product is good, but customers do not hurry to line up for it. The problem may be that dozens of similar products are already in the market. Customers already use them and know what to expect from them. So, why would customers switch to yours if it does not bring them higher value?

What to do?

Ask yourself how your product differs from those of competitors. Is it better than those? What specific traits does it have? What do competitors do in other ways? The set of particular characteristics of your product and everything which is around it form the brand.  A brand is the customer perception of your firm and your product that sits in their heads. Every detail is important.

You should be different. Make all the traits of your product unique so that each of them tightly associates with your product in the customer’s mind. Tell them why your product is different and why it will bring them more value. Explain how this value can be obtained. Communicate with the client and present them with your ideas about the product. Tell them about all updates, new versions, new tastes and forms so that a client can choose the most appropriate ones. Follow the marketing plan rather than hope for the success of accidental activities. Relevance and consistency are the two key principles of success for a small business.

Catherine Smith is an Online Marketing Manager at PhD Centre, specialising in PhD thesis writing. She is passionate about researching and writing on various topics, including Education, Marketing, and Technology.

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South West Appointment and Projects Favouritism: Fact or Fiction?

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Bola Tinubu 2027 presidential election

By Abba Dukawa

“It is utterly insensitive for Northern Nigeria’s elite to accuse President Tinubu’s administration of favoring the South-West geopolitical zone. Alleging favoritism towards the South-West, demonstrate a striking lack of sensitivity.

Where were these critics when former President Buhari’s administration faced controversy over alleged favoritism towards the North in appointments?  Why they not accused PMB of violating the Federal Character Principle, which ensures balanced representation across regions.

Let’s set the record straight: According to BusinessDay, 81 out of 100 appointees since 2015 were Northerners, including key positions like Chief of Army Staff (Borno, North-East), Chief of Air Staff (North-East), National Security Adviser (North-East), Accountant General (Kano, North-West), and Chairman of the Federal Character Commission (North-East).

SGF (North East) Aviation (North West) AGF (North West)  GMD NNPC(North East ) Minister of finance( North West). According to another reports, appointments by geopolitical zone are as follows: North West (51), North Central (47), North East (45), South East (41), South West (45), and South South (45). These figures are currently inconsequential.

Regarding the Northern elite’s claims about imbalance in President Tinubu’s appointments, the issue appears overstated. Instead, the more pressing question is whether they’re diverting attention from the North’s own developmental shortcomings. The region’s progress warrants scrutiny.”

The previous administration, despite having two consecutive terms, left key infrastructure projects unfinished in the north. Notable examples include the Kano-Kaduna-Abuja highway, a crucial North-South link,.

Kano-Maiduguri road project, vital for North West-North East connectivity. Moreover, Aminu Kano International Airport, a major Northern hub, significantly declined under the Northern Minister of Aviation’s supervision, rendering it nearly defunct.

The claim that President Tinubu’s administration favors the South-West in appointments appears baseless, particularly given the North’s experience under previous administrations.

Notably, Tinubu’s administration has appointed 71 individuals from the North and 63 from the South. A breakdown of Southern appointees reveals: South-West (26), South-South (21), and South-East (16). I’m still unclear about the issue – it seems like fiction.

For those overnight champions of Northern interests, have forgotten the unfinished infrastructure projects started by the previous regime, such as the Abuja-Kaduna-kano (AKK) gas project, Mambilla Power Project.

What about the  Baro Port project was commissioned by President Muhammadu Buhari on January 19, 2019: Despite its commissioning, the project has remained idle due to a lack of supporting infrastructure, such as access roads and rail connectivity.

The Kano, Daura, and Maradi rail projects, though unfinished under previous administrations, are being continued by the current government. Numerous others projects across the North, left incomplete despite 8 years in power?

President Bola Tinubu’s administration has approved several major projects in Northern Nigeria. Some notable ones include Kolmani Integrated Development Project, continuation of Abuja-Kaduna-Kano Gas Pipeline, Sokoto-Badagry Highway, Kaduna-Kano Rail Line, Kano-Maiduguri Dual Carriageway.

Agriculture Value Chain Initiative to boost agricultural productivity and economic growth. ACReSAL Program a World Bank-funded project aimed at restoring one million hectares of degraded land in the North.Healthcare Projects

Federal Medical Centers*: upgrades and expansions are underway at major facilities, including Ahmadu Bello University Teaching Hospital, Zaria, and Federal Medical Centre, Nguru.

A multimillion dollars oil exploration project located between Bauchi and Gombe states, expected to boost oil production and contribute to national economic growth. The project involves drilling activities, construction of a gas pipeline from Ajaokuta to Kano, and establishment of a Bauchi Oil and Gas Academy.

All these projects demonstrate President Tinubu’s commitment to improving infrastructure, energy, healthcare, and economic development in Northern Nigeria.

Despite numerous appointments and projects in Northern Nigeria, some self-proclaimed regional advocates remain driven by self-interest, claiming underrepresentation. Meanwhile, the appointments have sparked debate, with proponents citing merit and critics alleging their fuel ethnic and regional tensions.”

Dukawa write it from Abuja can be reached at abbahydukawa@gmail.com

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Local Supply Chain Support – From Seed to Sip

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Abiola Laseinde BSG

By Abiola Laseinde

From the soil of Northern Nigeria from where grains are sourced, to the bubbling breweries in the South that bottle joy, and finally to your glass, beer is more than just a beverage. It is a cultural artefact, a celebration of local entrepreneurship, and it is a sustainable force of development. As the world observes International Beer Day, what better time to spotlight the engine room of this golden industry: Nigeria’s local beer supply chain

The Nigerian beer industry is one of the most dynamic in Africa, and caters to over 200 million consumers. Yet, beyond the stream of iconic labels and festival commercials, lives a vibrant ecosystem that adds value. Farmers, transportation engineers, marketers, bar owners, recyclers, and innovators, are reliant on beer production and delivery for gainful employment.

Sourcing fresh grains from Nigerian farmers makes beer companies contributors to rural economic development, supporters of agronomic innovation and diversification, and a means of reducing import dependency. Local sourcing alleviates food security and supports the building blocks of industrial self-reliance. Opening a bottle of beer in essence, is a silent salute to the thousands of farmers working across the rich, fertile lands of Nigeria

Beer binds cultures together, whether being toasted at a naming ceremony in Abeokuta or downed at the end of a long day in Jos, beer has become a nexus of community across tribes, religions, and class. Beer unifies people, encourages conversations, and often plays a backseat role in defining moments in one’s life.

Beyond that, beer tells an indigenous Nigerian story. From the packaging that pays tribute to our heritage, to advertisements that mirror our humor, odds, and wins, beer serves as a lens into our identity. In many ways, when people engage with beer, they are not merely consuming it; they are experiencing it.

This layered value chain is also a training ground. Often, breweries will up skill employees with technical skills training, workplace safety protocols, and environmental sustainability, which means they are producing a skilled national workforce. It is an ecosystem where blue-collar and white-collar roles intersect, providing a balanced socio-economic impact.

Beer production today is being managed with the environment in mind. Increasingly Nigerian beer companies are looking to use renewable energy; treat wastewater; and implement circular packaging. Grains can be repurposed to animal feed, glass bottles recycled, and even introducing new technologies such as lighter-weight cans to mitigate carbon emissions. These actions are more than just corporate responsibility; they are commitments to Nigeria’s future.

As we raise our glasses high this International Beer Day, we must recognize the leg of the journey from seed to sip. Beer is more than a drink; it is an industry that provides families with food and shelter, builds communities, shapes culture, and now, takes into account its footprint on the planet. The local supply chain is not only strong but also strategic!

In celebrating and supporting this industry, we do not just celebrate a product, we celebrate potential, resilience, and the Nigerian spirit of enterprise.

Mrs Abiola Laseinde is the Executive Director of the Beer Sectoral Group (BSG)

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7 Delicious Ways to Enjoy More Fresh Vegetables Daily

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Fresh Vegetables Daily

By Diana Tenebe

Vegetables are such a rich source of vitamins, minerals and fiber. They play a vital role in maintaining good health as they are low in calories and fat; contributing to various aspects of well-being, including improved digestion, reduced risk in chronic diseases, and better weight management.

Eating enough fresh vegetables is crucial for a healthy lifestyle, and it can actually be tastier than you think, especially with Nigeria’s abundant fresh produce. Here are 7 delicious ways you can incorporate more vibrant, wholesome goodness into your daily menus.

1. Elevate Your Soups and Stews: This is the usual way you know to add vegetables to your meals. But beyond the usual, you can add extra leafy greens like ugu (fluted pumpkin), shoko, efo, or even a handful of chopped spinach or kale to your egusi, ogbono, or even light soup. Don’t forget bell peppers, carrots, and spring onions for extra flavor and nutrients. Nigerian soups are already vegetable-heavy; simply upping the quantity and variety makes a significant difference without altering the core dish.

2. Boost Your Rice and Pasta Dishes: You can turn your Jollof rice, fried rice, or even a simple white rice accompaniment into a veggie powerhouse. Sauté a medley of diced carrots, green beans, sweet corn, peas, and bell peppers, then stir them in. For pasta, add zucchini, eggplant, or mushrooms to your sauce. These additions provide texture, color, and a nutrient punch, making familiar dishes more exciting and wholesome.

3. Reinvent Your Breakfast Eggs: Whether you’re making scrambled eggs, an omelette, or egg sauce, load it with finely chopped tomatoes, onions, bell peppers, spinach, or even shredded cabbage. This is a quick and easy way to start your day with a serving of vegetables, adding freshness and flavor to a breakfast staple.

4. Make More Salad a Main Event (or a Strong Side): Go beyond the basic coleslaw. Combine lettuce, cucumber, tomatoes, carrots, and bell peppers. Add some boiled eggs, grilled chicken or fish, or even boli (roasted plantain) for a more filling meal. Drizzle with a light vinaigrette or a homemade dressing. Salads offer raw, unadulterated nutrients and can be incredibly refreshing, especially in Nigeria’s climate.

5. Snack Smart with Veggie Sticks and Dips: Cut carrots, cucumbers, bell peppers (various colours), and even garden eggs into easy-to-munch sticks. Pair them with a healthy dip like groundnut paste thinned with a little water and spices, or a simple homemade avocado dip. It’s a convenient and crunchy alternative to processed snacks, providing fiber and vitamins. Perfect for mid-day cravings.

6. Incorporate Them into Your Swallows (Eba, Fufu, Amala): While your soup already has vegetables, consider side dishes. A small bowl of lightly steamed or sautéed greens like tete or ugwu can accompany your main soup and swallow. Or, finely grate vegetables like carrots into your amala flour before preparation for a subtle addition. This method subtly increases your vegetable intake with dishes that are central to Nigerian cuisine.

7. Grill or Roast Them for a Flavorful Side: Slice eggplant, bell peppers, onions, zucchini, and even large mushrooms. Toss them with a little olive oil, salt, pepper, and your favourite Nigerian spices (like a touch of yaji for a kick), then grill or roast until tender and slightly caramelized. Grilling or roasting brings out the natural sweetness of vegetables, creating a delicious and satisfying side dish for grilled fish, chicken, or even rice.

By trying these simple yet effective methods, you can easily and deliciously boost your daily vegetable intake, leading to a healthier and more vibrant lifestyle!

Diana Tenebe is the Chief Operating Officer of Foodstuff Store 

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