Small Business in Nigeria - 2742 Words

Table of Contents Introduction------------------------------------------ 1 Constraint in small business : 1) Exchange rate-----------------------------------2 2) Access to loan -------------------------------2 - 3 3) Infrastructure --------------------------------3 - 4 4) Technology ----------------------------------4 - 5 5) Taxation -----------------------------------------6 6) Regulation --------------------------------------7 7) Policy---------------------------------------------8 Conclusion-------------------------------------------9 Recommendation----------------------------------9 Reference list-----------------------------------10 - 12 Introduction Nigeria is a country with 923,768 sq km (†¦show more content†¦2001. From above the diagram, we can see that there are many African countries still have inadequate facilities for their business. The infrastructure in Nigeria is considering disabling and until now there is no any change in that area. There are only 6000 megawatts can be produces by the state-run National Electric Power Authority. ( Nigeria’s economy at the crossroads 1999 ) It make the electricity in Nigeria is not stable and very limited especially in rural areas as It make the business cannot product their product successfully as there are no electricity then production process had to stop. High cost of electricity cause the business cannot run many generators at the same times in order to produce more goods. It makes the entrepreneur need to increase the price of goods to cover the high production cost. There are several problems that happen to the wireless deployment in Nigeria. Unstable electricity 3 makes the wireless deployment need to depend on the power backup system. However, the backup can last long for 2 to 8 hours in case of fixed wireless system for subscriber terminal and it could be stretch to 12 to 48 hours when there are power failure occur. (Ndukwe 2000, 4) This situation cannot be acceptable if there are more cases happen continually Technology Telecommunication can be one of the key elements to stimulate the business growth rate. How can people connect with others when they are travelling? By using theShow MoreRelatedSmall Business in Nigeria2732 Words   |  11 PagesTable of Contents Introduction------------------------------------------ 1 Constraint in small business : 1) Exchange rate-----------------------------------2 2) Access to loan -------------------------------2 - 3 3) Infrastructure --------------------------------3 - 4 4) Technology ----------------------------------4 - 5 5) Taxation -----------------------------------------6 6) Regulation --------------------------------------7 7) Policy---------------------------------------------8Read MoreThe Role of Cost Accountants in Small Scale Manufacturing Industries in Nigeria1259 Words   |  6 PagesBACKGROUND OF THE STUDY The preponderance of vast number of small scale industries in Nigeria suggest that the situation offers substantial opportunity for the intensive development and improvement of this sector, with appropriate injections of technology, improved management, efficient marketing techniques and so forth (Echu, 2002). 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