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:

challenges of small business owners in Nigeria

 

We also looked at the challenges faced by individuals that do not own a business but want to start one.

Challenges of starting a business in Nigeria

 

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.

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kpakpakpa Inc

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kpakpakpa Hand is the ever helpful hand for kpakpakpa.com - facilitating knowledge-sharing among Africans across the globe.

2 thoughts on “5 challenges facing small businesses in Nigeria

    • Yes. That’s what should be expected especially since the lack of consistent power affects the productivity of all businesses in Nigeria. We think that a lot of business owners in Nigeria have become so used to the lack of consistent power that they just include it as a norm of doing business here – hence it is not a priority challenge. However, as you pointed out – the sample size is relatively small. We could find that the next time we do this survey with a bigger sample size, infrastructure could easily be the leading priority.

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