9 SURE STEPS TO SET UP YOUR OWN BUSINESS IN 2016

Nigeria’s population is estimated to be around 180 million and it is established that 60% of the population are youths; incidentally, 70% of the youth population are unemployed, underemployed or unemployable. If these figure is anything to go by and the trend continues unabated, am afraid the future of Nigeria economy will still be bleak in a long time to come.

A small Business venture is the perfect alternative to generating residual income for both the government and the entire working population at large. The FEDERAL GOVT OF NIGERIA having realized these small business potentials has created some machinery for driving the economy by creating avenues for accessing SMEs funds. Such initiative could be found in F.G Youwin! Grants; SME development fund; SureP;SMEDAN Fund; Bank of Industry; FIRRO Oshodi; Bank Of Industry Agro cottage funds; Tony Elumelu foundation; Dangote Foundation/Trust Fund; Theophilus Danjuma Foundation/Trust Fund;etc.

If you have been thinking of starting your own business but with a little information on how to make the first step, then, you have to answer the following questions.

ü Would you like to be self sufficient and make steady income in the year 2016?

ü Do you want to be financially independent earning from your passion?

ü Do you desire a flexible work schedule where you determine when you start and when you stop?

ü Do you wish to help someone out of poverty?

ü Do you want to be less dependent on others for sustenance?

ü Do you want to have your own BRAND NAME in the marketplace?

ü Do you wish to contribute to Nigeria’s GDP?

ü Do you want to be a millionaire using legal business means?

ü Do you want to make extra income while still holding your paid job?

ü Do you want to learn how to make money from the NEW ECONOMIC AGENDA come 2016?

ü Do you wish to quit your paid 5am-9pm job/employment for your own company?

ü Do you need a perfect gift for yourself, family, friends, colleagues, neighbours and well wishers?

Follow these simple, tested and proven guidelines and you will be glad to have this information FREE OF CHARGE.

1. DECIDE WHAT TYPE OF BUSINESS YOU WANT TO PUT UP. You may ask from some of your successful friends what type of business to start with. Well, they might suggest some, but the right answer is in you. Deciding what type of business you would put up means reflecting deeply the things you want to do and things you are good at. Look ahead and ask yourself these questions: Am I willing to do this business everyday for years? What do I love to do? What are the things that are both profitable, at the same time, things that I find enjoyable? These questions will lead you to specific type of business you want to put up. Take your time. See help here….http://hollalaycan.blogspot.com.ng/2015/10/top-129-small-businesses-you-can-start.html

2. DO RESEARCH. Once you have determined a particular type of business you want to put up, study its profitability. You simply don’t put up a business you love, don’t you? You still have to think if the business will click. Feasibility study would do the job. In other words, study if the business you are trying to put up will return to you the investment you have given. In here, you have to decide where to put up your business. Remember that a certain type of business would hit big time in one place but not in the other places, so make sure that the place you chose will give you good sales once you have opened. 
See also…http://hollalaycan.blogspot.com.ng/2015/09/surest-way-to-build-successful-business.html

3. DECIDE ON THE BUSINESS NAME. Create a name that is EASY to pronounce and remember; the name that will put every element of your business in a nutshell. A name may or may not be short as long as it distinguishable. 

See related articles…http://hollalaycan.blogspot.com.ng/2014/07/how-to-register-your.html

4. DECIDE ON THE FORM OF BUSINESS. Form of business means that you will have to choose between, incorporation, partnership, and sole proprietorship. Know the difference between the 3 and what are their advantages and disadvantages to you.

5. BUSINESS REGISTRATION. Most businesses must be registered and there are processes to follow. You need to conduct availability check for the business name and

registering your business. Make sure to have as much as three name options to enter for name search availability because it is increasingly becoming difficult to get name approval at the Corporate Affairs Commissions. 

Read also.. http://hollalaycan.blogspot.com.ng/2014/07/how-to-register-your.html

6. DECIDE ON THE BUSINESS LOCATION.  Where will people look for you to get your products and services? Having an office or physical location for business is determined by the type of business enterprise you chose to operate. The level of technological advancement has helped a lot of small business to operate from virtual offices. Again, you may decide to operate your business from the comfort of your house.

7. GET YOU EMPLOYEES READY. Having an employee helping you will certainly give additional boost on your business. It may be the last thing you would think about at the early stage of business but it is nice to know that when you have an employee, you know there is someone who can assist you as you go along the way. However, if you are starting with little or NO capital at all, you may decide to do it all alone at the start of the business.

8. MAKE PROVISION FOR ALTERNATE PLAN. Little challenges of start-ups may knock you off your feet if you do not make provision for alternate plan. Make provision for a way out in case the business fails to germinate, set aside plan B in case plan A fails, diversify in case there is change in trend, seek for support from family and friends once you fall from the sky. Research on the type of business options that you can venture into should your original plan fails. 

Related.. http://hollalaycan.blogspot.com.ng/2015/06/no-capital-or-fund-7-ways-to-earn-money.html

9. GET STARTED. Give a good start and keep your name clean. You may want to study more on the principles of entrepreneurship as you go along.

Although all these may sound easy or awfully hard task, you still need to understand how the business world works. Yes, having read this would not mean that you would instantly become a tycoon. These are only your initial steps; somewhat the basic information you need to know when you decide to start a business of your own. To become a successful entrepreneur, you need to dedicate you whole heart and soul to the business you love. Before you know it, you are a growing businessman.

Like our page....https://www.facebook.com/prospectiveideas/ to ask for FREE Business Consultation and Marketing ideas on any start-up business of your choice. I will endeavour to bring on board business consultants with diverse interest who will provide insight and solutions to challenges of small business. 

Once you have started, never disregard the chance of failure. And this should not demoralize you. It is just part of the game. Learn how to adapt to the business and charge all your failures to experience. You will learn as you go along. Successful people never give up. Remember, always head forward but have time to look back and learn from the past.

For your Business Registration, Brand Marketing, Business Proposals,

Strategic Business Development, Content Management,SMS and E-mail

Marketing, Expatriate Quota/Work Permits, SMEs start-up.

Contact us at:

Prospective Ideas Nig Ent

5, Atunwa Street Off Unity Rd,

By Custom Training School

Ikeja

Lagos-State.

+2348034201291; +2348170327317

ideasandprospects@gmail.com;

lekanolanite@gmail.com.