Tag: Growth

July 15, 2026

10 PROVEN STRATEGIES TO SLASH HIGH OPERATING COSTS FOR SMALL BUSINESSES

High operating costs can pose significant challenges for small businesses, impacting their profitability and sustainability. Several common causes contribute to these high expenses: · Labor Costs: Wages, salaries, benefits, and payroll taxes can account for a significant portion of operating expenses. Hiring and retaining qualified employees, providing competitive wages, and offering benefits can all contribute to

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July 15, 2026

UNDERSTANDING BUSINESS CREDIT: TIPS FOR BUILDING AND MAINTAINING A STRONG CREDIT PROFILE

Establishing and maintaining a strong business credit profile is essential for the financial health and growth of any company. Just as personal credit history impacts individual financial opportunities, business credit plays a crucial role in securing funding, negotiating favourable terms with suppliers, and accessing essential business services. In this article, we will delve into the

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July 15, 2026

The 4 Fundamental Principles of Business Success: Strategy, Execution, Culture & Structure

Introduction What makes a business successful? Why do some businesses thrive while others fail, even within the same industry? These are questions that every business owner grapples with. According to a report by the African Development Bank, approximately 70% of small and medium-sized enterprises (SMEs) in Africa fail within the first three years of operation. In

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July 15, 2026

5 Key Factors that Will Influence the Success of Nigerian SMEs in 2025

In 2024, Nigerian small and medium enterprises (SMEs) faced significant economic challenges. High inflation, a weakened Naira, and rising costs of transportation and energy severely impacted businesses, with the small businesses being most affected. The tightening of monetary policies by the Central Bank of Nigeria (CBN) further constrained liquidity, leading to high borrowing costs that

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July 18, 2026

5 FACTORS BUSINESS OWNERS MUST CONSIDER TO AVOID BUSINESS FAILURE

5 FACTORS BUSINESS OWNERS MUST CONSIDER TO AVOID BUSINESS FAILURE There is this general notion that 90 out of every 100 SMEs die within the first 5 years of their formation, while 9 out of the remaining 10 start winding up after year 5. While the source of these widely publicized statistics may be unconfirmed,

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