5 challenges facing small businesses in Nigeria
Last year we surveyed entrepreneurs, aspiring entrepreneurs and small business owners in Nigeria. The objective of the survey was to find out about the major challenges facing small businesses in Nigeria.
Since one of our main goals here at kpakpakpa is to facilitate knowledge-sharing, we want to share the results of our survey with anyone that might find it useful.
Here are the results from a survey with 55 respondents – although a small sample size, it is still worth sharing since we noticed some trends in our respondent’s responses to the open-ended questions that we asked.
Out of our sample size – 44% own a business, 56% do not own a business.
The 44% that own businesses faced the following challenges:
We also looked at the challenges faced by individuals that do not own a business but want to start one.
This data should be taken and used with caution. We are not saying that it represents the entire Nigerian population but we are extrapolating from our sample size of respondents – which is small and could possibly be biased towards a group of Nigerians that are more entrepreneurial than the average.
Let us know what you think about the results in the comment section below.