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Tag: Business

  • NGO trains 300 youths on ease of doing business via social media handles

    NGO trains 300 youths on ease of doing business via social media handles

    The Federation of Muslim Women Association (FOMWAN) Bauchi chapter on Wednesday trained 300 youths on using Google and Social media handles as a tool to ease doing business in Bauchi.

    Speaking at the one-day training, the Chairperson of the State Chapter, Hajiya Aisha Kilishi said the training which held in Bauchi was conducted in partnership with Google through Sanstonz Consulting Limited.

    She said that youths were the backbone of the country’s economy, hence the need for continued capacity building in internet and digital skills for a better and competitive driven society.

    She said the participants were drawn from the 20 Local Government Areas of the state while others were members of the association’s affiliated and teachers from FOMWAN schools across the state.

    “FOMWAN intends to conduct the training in the state, running from January to March 2020 with the same set of participants so that they become actively engaged in using Google and internet.

    “The global trend of using Google and social media handles is easier for transaction and fast, so for those of them with small and medium scale enterprise it will enhance their opportunities,” she said.

    In his remarks, Mr Joshua Oluwafemi, Representative of the Sanstonz Consulting Limited, said the training would encourage and develop the minds of participants on using the digital space.

    He advised participants to be vigilant while using social media handles, adding that hackers and fraudsters could easily gain accesses to various social media accounts.

    In separate interviews with some participants, Miss Fatima Salami and Salihu Abubakar, appreciated the organisers of the programme.

    According to them, youths were now becoming important in managing accounts on social media handles in generating income and advertising their products. (NAN)

  • Businesses that can rake in millions for you

    Businesses that can rake in millions for you

    1.Exporting and Importing
    As we live in an increasingly global marketplace, an importing/exporting business can be extremely profitable and fairly easy to start if you’re aware of regulations and global markets. Anything from produce to vehicles to clothing can be a successful .

    2. Legal Services
    There will always be a need for legal services, which includes everything from lawyers, notaries, title search agents, and settlement officers. Legal services aren’t cheap, which is great when you’re the business owner, and operating costs are typically low. And, if you excel at your job, you’ll have a steady stream of recurring clients.

    3. Mobile Restaurant/Food Delivery
    This industry has been booming the last couple of years as customers are looking for affordable and quality food while on the go or delivered to their home or office. For those who have always wanted to start their own restaurant, this is a more profitable business since it eliminates the high cost of starting and maintaining a restaurant. FYI,
    the average food truck can generate close to $300,000 in one year .

    4. eCommerce Website
    As mentioned previously, we live in a global marketplace where you can purchase goods or services from anywhere in the world. Add to that fact the low-cost of building an online storefront the decreasing cost of transaction rates, and you can easily see why eCommerce websites are thriving. Pixpa’s e-commerce store builder gives you everything you need to sell online.

    5. Web Design Agency
    Having a website isn’t a luxury anymore. It’s a necessity. While there are plenty of free website templates, organizations still want a website that fits their brand – which is why they’re willing to invest in a web designer. If you really want to make some cash, though, consider targeting emerging markets where the competition isn’t as high, but the demand is steadily growing.

    6.YouTuber/Instagram Celebrity
    You’ve probably heard of social media stars like PewDiePie, who raked in $15 million in 2016, and Instagram celebrity Jen Selter. Through these social media channels, these individuals have been able to earn a large gathering of fans, which in turn has lead to them becoming influencers. As influencers, they can make money from ad space or endorsement deals.

    7. Franchise Ownership
    As I mentioned in an article for
    Entrepreneur , one of the most overlooked, and profitable, business ideas is by purchasing a franchise like Jimmy John’s, Anytime Fitness, or MaidPro. Unlike starting from scratch, you already have a proven, brand-name business with all of the research and customer-base built-in.

  • 10 Reasons why you shouldn’t start a business yet

    10 Reasons why you shouldn’t start a business yet

    I am very sure there are a lot of article out their telling you to go forth and start a business, but I am telling you today that it is not everyone that need to start a business. Actually your idea is special but it does not mean that the world want to see it or hear it or shove money in to it. There would have been fewer business and more successes, if only those small business that failed had hesitated and considered why they were getting into business. So if any of my reasons hit you, then you do not need to become an entrepreneur.

    1. You Hate Your Job: You can hate your current job all you want, but it won’t add to the value of the business you want to start. Leaving a job you dislike can be exhilarating, but make sure you are replacing your job with a viable alternative that allows you to support yourself financially.

    2. You Hate Your Boss: Like hating your job, hating your boss doesn’t make your business idea any better. The decision to start your own business should be based on factors related to the business itself, like the opportunity to deliver value and the feasibility of making it happen. Also, keep in mind that customers and suppliers can be just as difficult to deal with as that boss you hate.

    3. You’re in it for the Money
    Don’t hold your breath waiting for easy money. When you start your business, you will face challenges that require you to have resilience, passion, and stubbornness. If you’re just in it for the money, it’ll be much harder to meet those challenges, especially if the money isn’t pouring in yet. If you are truly doing what you love, the money shouldn’t matter so much.

    4. You Want to Work Less
    Running your own business is time-consuming, especially in the beginning. You are always on-call. You can’t clock out from work at the end of the day like you can when you are employed by someone else. There is always work to do, and you are the only one who can make sure it gets done.

    5. You Want More Flexibility
    If you are expecting to only work when you want, you will be disappointed. You may now be your own boss, but your customers don’t care about your sleep schedule or vacation plans. Your customers will want what they want when they want it. And when they do, you have to be ready for them.

    6. You Think It Will Be easier Than a Corporate Job:
    The hardships you experience at work are a result of your job being just that: work. As mentioned above, starting your own business will be a lot of work. Entrepreneurship may entail a different set of challenges, but it is in no way easier than having a corporate job.

    7. You Only Want to Answer to Yourself:
    As an entrepreneur, you answer to no one and everyone. Technically, you won’t have a boss, but you’ll still have to answer to your customers, your suppliers, and your employees. You can cut yourself as much slack as you want, but any slack you cut yourself will have a direct effect on your business.

    8. You Want to Have Fun: Although starting and running your own business can be a lot of fun, you are bound to come across tedious tasks. At times, the workload will overwhelm you. To be a successful entrepreneur, you will have to face both the good and bad with a relentless fervour. Enjoy the good times, but don’t depend on them to keep you going.

    9. You Want to Be Famous: Building awareness about your company within your target audience is necessary, but you need to look at publicity as a means to an end, not your end goal. Being an entrepreneur is about building a successful business by creating and delivering value, not by becoming a celebrity.

    10. A Friend Wants to Start a Business with You:
    Just because someone you know or admire wants to work with you, that shouldn’t make a business opportunity attractive. Furthermore, even if a friend or a family member has a great business idea, mixing business with personal relationships can be problematic.

  • American Business Council admits new members in Lagos

    American Business Council admits new members in Lagos

    The American Business Council (ABC) in Nigeria, an affiliate of the United States Chamber of Commerce, on Sunday admitted eight new corporate members into its fold.

    Those who came onboard during its first special event in Lagos included Jumia, Cisco, J.P. Morgan, Africa Resource Center, U.S. Soybean Export Council, amongst others.

    ABC was founded in 2005 as the voice of American businesses in Nigeria to promote trade and investment between both countries.

    Claire Pierangelo, the Consul General of the U.S. in Lagos, said at the event that the council had since its establishment played a key role in trade and investment.

    “The council has brought together potential business in Nigeria and the U.S.

    “This has in turn helped to strengthen the commercial ties between both countries.

    “Nigeria remains one of our largest trading partners in Africa and we are excited about the partnerships that will be coming up in 2020,” the US envoy said.

    ABC Chief Executive Officer, Margaret Olele, said that the council was working with partners to create an enabling environment for U.S. companies in Nigeria

    “The environment is getting more complex in terms of advocacy issues but we’re hopeful that 2020 would be a better year.

    “We would be engaging the government a lot in different sectors to ensure that solutions are found to all issues,” Olele said.

    Similarly, President of the Council, Dipo Faulkner, said that 2019 had been an eventful year considering growth and the louder voice the council had in terms of advocacy.

    “We hope that the efforts put into this year will yield more results in 2020 because we not only work with the U.S. missions in Nigeria, but also speak as the voice of American businesses in the country.

    “We create a platform for them to speak about their problems, we not only listen to them, we also put them in front of the right audience,” he said. (NAN)

  • 5 Things to consider before having a business name

    5 Things to consider before having a business name

    A name, just like a business logo, is super important and goes a long way at determining the level of patronage, awareness, publicity and positioning of any brand.
    As an entrepreneur, here are five important factors you need to note while giving your business a name.

    1. Suggestive
    Your business name should suggest something about the brand. People should see it and be able to tell to some extent what exactly it is that you do.
    Using Monster as an example, the name will definitely inform you that it is fierce and seeing it on a can or bottle sends the signal of it being an energy drink to your RAS.
    That’s how suggestive a name should be.

    2. Rememberable
    Pick a name that is easy to pronounce and remember. It doesn’t matter the language in which it is named, just make sure that it is very relative, easy to remember, not difficult to spell and very easy to pronounce.
    This simplicity makes it easier for the name to stick in the minds of your potential clients.

    3. Distinctive
    Your brand should have a name that is very different from that of your competition. Never should both names be mistaken for each other.
    This means that your brand name and that of your competitors shouldn’t be the same word in different tenses of even have the same meaning.
    Just make sure the name is distinctive, unique and different.

    4. Extendable
    Amazon started out as a website on which anyone could purchase books and books only. However, over time, there was need for expansion and it went on to become a store where you could purchase anything at all.
    If they had limited their name to books.com , there would have been a need for change. Hence, we can say that the word “Amazon” is extendable.
    Every brand name should be extendable, such that if the business expands and branches out to other fields, such name can still be kept.

    5. Registerable
    In Nigeria, every business name must first be approved by the Corporate Affairs Commission (CAC). This is in order to ensure that no two companies have the same exact name.
    Before you go on to name your business, carry out a “search” with the CAC to ensure that your intended name is original and has not been used already. It will save you from future legal issues.