5 Important Factors Every Startup SME Must Consider
Are you one of those people that say, ‘The current economy is not favourable to start a business?’ Starting a business is always a risk. A small-scale business is a privately owned business with a small employee capacity. It ranges from operating a small shop like a bakery, saloon, restaurant to online businesses and to professional firms like an accounting firm or a law firm. Small-scale businesses in Nigeria face a lot challenges, but the major ones include bankruptcy, social responsibility, and quality of job. Most consumers would rather use a ‘known brand’ or buy from a ‘trusted brand’ than use a new small-scale business. This is because your brand is probably yet to prove its job quality capacity. Small-scale businesses plays a major role in building an economy. It help stimulate local economies by providing local individuals with jobs, as well as products and services to community members. 1) Innovation One key fact is that, no idea is original. This means whatever ...