Odds are really against small and upcoming entrepreneurs in our country. The question of 'what future does small scale entrepreneurs have in the country was one of my throw puts in my last article. I was discussing the current issue of high data bundle subscriptions and how it is affecting business at both ends. Entrepreneurs and online users are making lots and lots of adjustments and it seems the entrepreneurs are the most disadvantaged.
check out my recent article, high data plans and online marketing for more. That said, this leads to another real interesting question of can't we react to these inconveniences?. Without pointing much fingers, we should know how things are operated; when it doesn't affect you, then it is none of your business. This is where we are facing much of our national challenges. I feel there are so many inconveniences that can be put to a stop only if those in authority are interested.
Let's say the prices of bread just increased from assumed N1000 to N1500. This remains the duty of government agencies to find out why. We should know how price changes easily spread, it will move from bread to transportation to other eatables. Maybe it could be that the price of flour has increased. Why? It is from asking such and such concerning questions that interventions will surface. But no, the reverse is always the case. The price of bread just changed by a whopping 50% and that man in office asks himself; can I still afford it? And when the answer stands at a yes then there is no problem about that.
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That was by the way, although my main concern in this article is something similar. When it comes to entrepreneurial buying price inconvenience, it is mostly sponsored by big names. I once talked about such a related scenario in the egg wholesale business a friend told me of. How the prices of these products keep going up in the farm without them being able to counter it. Why? Simple, big buyers are always ready to pack it up at any price. Small entrepreneurs are left to comply or go out of business. The choice is absolutely yours although yes it is very painful.
It is something I keep saying, the future of entrepreneurship belongs to big businesses. Rich Dad was very right when he told Robert Kiyosaki 'don't be medium' in his famous book 'Rich Dad Poor Dad'. This is why I keep trying my best to push my business beyond the medium scale boundary. It is not easy, time, experience and finances sums up it ALL. The current economic situation of the country is not allowing small entrepreneurs to focus and build. Currently, our online market space has been invaded by high data plan costs. This is something I took time to discuss in the article I highlighted above.
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We don't have a say, big companies are buying to continue transacting their voluminous business daily demands. To you it seems a big deal but that is not the same with them. Adding to that, the rules of 'customers pay for expenses' is to their favor. I told my copartner, if we were to cut all expenses and put it directly into our services, it will be very high that we will be losing lots of customers. I have to be very sincere, we do not currently have such influential gears.
We are facing high electric cost, high transport cost (affecting our pick up and delivery services), high energy and maintenance cost and now we are talking of the issue of high network data which of course will add to shrink advertising. As I said, the big names are complying so we are left to join up or fold. Small entrepreneurs are really in one hot seat in Nigeria presently. I am just imagining how many small businesses will be able to survive the next nine months, not to even talk of those that will advance to the next stage. The epicenter of a good business is always the customer, but that has really shrinked.
To conclude, let me add, aside from customers, pricing matters. Small businesses are not able to raise selling prices anyhow. Without any compliances between the small and large enterprises to challenge the cost of production and service delivery many are likely to drop off this lane soon. Who is to be blamed? The big businesses? They are minding their business, as long as they still meet up with good returns they can resist anything. Nevertheless, we need to also turn and look at the impending dangers of sweeping off the SME sectors, it has really been a big driver of the Nigerian economy
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