Topic: One major business challenge (Read 404 times)

The lack of reliable electricity is a significant challenge for businesses in Nigeria, and it's heartbreaking to see entrepreneurs struggling to keep their ventures afloat due to circumstances beyond their control. It's necessary for the government and stakeholders to address these challenges to create a more conducive business environment, encouraging entrepreneurship, innovation, and economic growth.

But Challenges are inevitable part of business growth, Especially in Nigeria. How you respond to them that sets you apart from others. Embracing challenges as opportunities to innovate and differentiate yourself can lead to success. Planning and adaptation is necessary in business,  especially in environment with unique challenges like Nigeria energy. Entrepreneurs in Nigeria have to learn and adapt, in response to the country's energy challenges. It's impressive to see the growth of solar companies offering various solutions to cater to different needs and loads.

One of the major challenge in business is what I learnt to be targeted market. The targeted market here means the set of people and the environment that your products or services will be consumed. Starting a business is not an issues but identifying the environment were your products and services are needed is on of the challenge. So many business today are not doing well as a result of this. The owner of the business fail to identify if their products or services are needed in the environment where they are operating. It is advisable to put this into consideration before starting a business in a particular place.

Nigeria has been facing the problem of light for God knows when and the government are not ready to handle it and we have been use it.
People were born to see the situation of light like this in Nigeria and I think when starting up a business light shouldn't be seen as a problem anymore because you already no the situation of things.
When there is a challenge there is also a remedy is either you use the remedy or you switch to another business to avoid issues.

Nigeria was to embark on IPP project many years ago so we could have 24 hour power supply the plan was to convert our gas to power and this method has been working in some part of Nigeria for example a local government in Rivers State called Onelga which has to be my local government we have 24 hour power supply which was done by 2 oil company in Onelga, but the Nigeria government has refused to sign the project, the issue of power supply is a very small challenge but the government is just being wicked.

There many factors affecting the growth of a business in Naija,most especially the poor electricity supply.Like 50% of businesses needs power supply to power electric appliances and when the power supply is lacking it's affects the business negatively.Almost all the communities in Nigeria has poor electricity supply and those businesses that makes use of light to power their appliances are affected due to poor electric supply.When starting up a business it's wrong to look at the challenges because there's no business that doesn't face one challenge or the other,when the challenges are overemphasized by a person that wants to start up a business it's creates indecision.Funny enough that most challenges that affect one business might not affect another business,for instance this paycharge business unsteady light can't affect such business from growing rather it promote it's growth.

Electricity can be a major challenge for any business that uses machines and right now the old solution of having a generator just got expensive because of the fuel scarcity we are facing now and other alternative are too expensive for a common or average person to afford like solar energy that can power high duty machines.

Many business men and women need light to carry out their activities before buyers will have access to their products in the market, and the challenges of light has made many companies to reduce their production because the amount of money spending on solar or generator to ensure there is light for their companies to function has made many businesses to collapse.

Those that have the plan to go into some business that requires light before they can carry out their business activities in the country, has changed their mind because this inflation has affected some countries not to make their light stable as before.

You can over come the challenges, if you have money to buy solar to use for your business because there are some standard solar you will use for your business, it will make your business function well, but it will make you to spend more than the government light.

You speak well because anyone who wants to start a steady business should get light solutions so that he does not have to rely on government light, before he can do business, technology as gone fa now Any electricity as solar power, can now used it and he will be working smoothly without a Nepa light in the background. Everyone knows say light is not something that is 100% you will be getting every day, since light know dey government side anymore you won't enjoy it, I think is private now, so my bro light is not a problem that can stop you from running your business in the country, any problems as well as solutions to it, except you don't know about it nothing you will do in life that he will be very difficult for you that you can say you don't have choice to it. some companies as turnover to solar system that 24 hours light will stay without worries about normal light and he will safe them from spending much, and they will have light every time expect Sun did not come out that day and he can't be possible that sun won't come out.

I no think say e get person wey dey wey no need light and like you talk am, light dey help people relax and live a lesser stressful life. Only to watch television self na a way of relaxation both for young and old. Old people dey even like watch comedy films or home movies to take relax. Talking about food, sometimes we no really need to go market daily but to buy and keep for fridge but as light no dey, na so people dey stress demselves always to go market. Na solar people wey fit afford am dey go for now but if you can't, see you see heat.

Omo no be lie, the cost of running business for naija dey very expensive because you go virtually provide everything for yourself and at high cost, from light like generator or solar, to high cost of transportation to get your raw materials and produce and sell.

A country wey no get good and cheap electricity will not grow economically and technologically because na electricity dey ginger most of the economic indices. Like manufacturing sectors go die a natural death where electricity no dey and na wetin we dey see and face for naija.

I know it's not all country that is facing this light issue but if I may ask you which board is this, isn't here Naija board so why saying not all country that is facing this light issue, I am referring to Nigeria off cause. You made a valid points with those factors you listed but I still see what I said as the major challenge because it is something that business men and women face almost everyday but wars, Natural disaster, political instability are factors that doesn't affect business men and women almost everyday like light. Yea, I was actually planning on giving more point but I didn't see them as pressing.

As a business person, it is good to have a passion for what you do so it doesn't cause you so much stress, else a country like this that you probably grew up in, with all this lapses in government and economy that's a repeat of past government; you would have better learnt by now that from the instance you started the business, to be an independent supplier of electricity by either being creative and use alternatives like solar panels and renewable energy sources is the focal point of any potential successful business currently in this country.

It's a challenge you have to solve and am sure you would enjoy business growth once you can find a creative and cost efficient means of providing electricity without spending so much on PMS or diesel and oil.

Even Local governments needs to help in Nigeria oo If they can. Because, the community where I live in dark and challenging ehnn.... Years after Years.  One has to save a while lot of funds to cater for fuel generators.

I believe say anybody wey one start up any business wey need steady light go don make arrangement on how he go survive the business even though light no dey because everybody for Naija know say our government and light no be friends.

This na e make so many solar companies don dey produce various solar products base on their sizes and the load wey them go fit carry. If you dey do photocopy, you go only on generator when you won photocopy and off am when you don finish. You need to get laptops wey their batteries dey last so that you go fit use am when light no dey. Life na planning, and na so business too be.

Lights now one kind Major issue way the affect business to strive mostly in our nation as it value almost equivalent to petrol in the society,as mist small scale and most large scale depends on light, for instance business like perishable food items to business men or women that have not properly strategize before venturing into such business. But must challenges is another door opening for business man who is highly articulating on his business to strive, in the choice of business one need planning by considering all factor that may hinder the business before engaging into such business if your to go into perishable food items first solved the problem of how to get steady light and refrigerator that is where there is difference between two persons in the same line if business is base on planing and having good strategies.

We understand and comprehend the market, always knowing what to do next for the purpose to keep the market making these bold moves. There are challenges in business but we ought to become very careful when the slightest assignment, that's completely most of these previous businesses. I already know my fate in the system, ready to withstand these crucial scenarios and hoping to retest back to the top

No be small problem wey this electricity matter dey cause for people business oo and true true na the government na dey really cause am because one thing I know Nigerians for be say dem no fail to comply for anything wey gats to do with their business especially when the thing go make their business dey well. Some business dey wey many peeps for start for the country wey involve constant electric but dat now don turn disadvantage for People to do am.

There are more challenges to business than just one, e get some kind communities and places for naija wey e be say light dey dey on a steady, but for these communities, businesses wey still dey there, some nor dey do as well as you go still expect, so na big evidence to show say challenges wey dey face business pass just light, although say if light dey and nor be problem, many problem dun first solve. If as individual wey wan do business wey light na essential, try make sure to find office or store space for area wey get good light schedule. E go cost more o, but you go dey save money.

I love the fact op emphasize on power supply as an example, lack of power supply can be annoying mostly if the business can't do without the supply. Business is something you take your time and plan first cause a business owner must be committed and devoted so for example before creating a business we should consider some common factors first e.g

• the first business challenge I see people battle with is location, where and what area is suitable for my business idea should be consider first. For example, POS business is very common in Nigeria almost every pos owner will open their shop close to their neighbour meanwhile old pos owner will benefit while the newly shop owner will find it difficult to earn profit in such area due to customer favorite etc. Secondly my thought towards business location and the disadvantage involve, we should not expect to see an expensive and luxury hotel in a village cause it's obvious 50% of people living there can't afford the standard
• attention, for business to move forward attention and dedication is needed, price of goods sometimes can reduce the growth of newly business if care is not taken cause everyone will love to buy a product with cheap price compared to other price. Concerning the tax in Nigeria, do you think taxation can hinder little business or newly open business from growing.

There has to be challenges for a business to grow, na from the challenges wey go make you dey different from others because e no get any business wey na only you wey go dey do am but you fit do sometimes in a different way wey go give you the upper hand above others, you no dey see people dey do the same business but as others dey complain, e get one person wey dey get success. No let anything discourage you from starting up the business wey you get interest in. Nigeria na very big market wey anything wey you wan sell fit get buyers dem plenty. Take people wey dey sell Timberland, dem been no get hopes say the brand go comeback to trending form again but tiktok dun bring am back to life and dem dey make plenty money like this.


This na big problem no be lie but other sources of light dun come out as people dey talk already for this thread wey you fit use instead to dey burn fuel everyday, reachable battery dey too and  reachable devices wey you fit use instead of only using those that depends on light before it can be used. Out of problem na when entrepreneurs are being born so make you no dey see the light challenges for the country as a problem but as an opportunity to make something out of a problem and get rewarded with wealth for that.

You've made a clear point likely from my mind so while I don't have to spam on it, I'd just key in a point which is location where these enterprise business people are situated as their venue (shops).
The government has frustrated lot of these business people in the name of extending developments where they destroy their shops and asked them to evacuate to other places.
Right about it becomes frustrating for the affected business people to begin afresh seeking for vacancies where they can settle and start up again.
This is as much leading to excessive costs to the investors or business people as they encounters as follows...
1) Demands for shop and land vacancies becomes extortbitant and expensive to be afforded.
2)The encounter of lost of previous customers after relocations.
3) Faces emotional breakdowns to restart up.
4) Leads to dump and or diversify to other nature of unplanned nature of business.
5) Encouragement to consider taking loans and expenses can be effective to depreciation on their bankrolls.

You are right, and I agree with u, that is major challenge we have in terms of business because majority of the businesses in this Nigeria are business that require electricity for it to function well, that is why are a lot of generator in this country just to make sure that light is stable and not to also get their goods spoiled, and it also making business men and women to be spending more and leave them with no choice than to be selling things at a higher price, so in this case they are not to be blame rather its the government, they are to be held responsible especially in this electricity case, they should try to provide electricity for us free of charge even if they rationing it, we don't have problem with that but let's just be having light to make things easier for everyone.

Generators acts as a back-up source of electricity only and not something that someone should rely on at all times because as you said, they are not cheap and then they are not easy to operate. It's pretty hassle in short. If our business is already struggling due to electrical issues, it's not a solution but we can only speed up the collapse of our business.

It's great if as a business operator we can ask a help from the government and some private sectors and they will lend us something but I think most businesses are not like that. Other than generators there are those you said like solar, wind, water, etc.. energy but I think they are not totally reliable and having the right tools to generate a good amounts of electricity from them can also be costly.

The reliance on generators due to unstable power supply not only adds significant operational costs but also hampers productivity and growth. It's a vicious cycle where businesses struggle to stay afloat amidst rising expenses and uncertain revenue streams. It affects customer satisfaction, employee morale, and overall economic development. It's a pressing issue that requires urgent attention and sustainable solutions from both government and private sectors.

It's not just businesses that are affected by this, but also freelancers or those who work from home like remote or hybrid workers. It's difficult when there's a power outage, especially if it happens frequently and unexpectedly during important moments like being in the middle of a meeting and presenting something. What will your boss think of you then? Not everyone can afford to provide a generator. All your resources are affected, like your router, monitor, and others.

But exploring alternative sources of energy, such as solar or wind, which can be more reliable and cost-effective in the long run.

That's why there are renewable energy sources that many countries have been implementing. And even if you're in a place that doesn't have much sunlight and you can't get source from the sun for the solar energy to sustain all of those business appartus and equipment for production and services, there can also be alternative source for that but with that, it's up to the local government that you're having and there are great professionals that will do the thing to help you out if you're one of these businessmen that are having this challenge.

You nailed it. I'm actually expecting that there will be some more since he numbered 1. 

A writing tip: You don't need to add numbering if you are going to discuss just one point. Numbers are added when there is more than one header and you separate them with numbers like 1, 2, 3, etc.

Coming back to the topic, the problem you have discussed is found mostly in third-world and developing countries. You can't see any unnecessary electricity outages in developed countries because they have all the basic amenities available at all times for all their citizen.

When we talk about running a business in a country where electricity outages are a common problem, I believe a person or a group that plans to start a business should keep this in mind beforehand and should plan their business accordingly. If I know there will be such a problem, I should evaluate all the situations after I start my business and see if I can overcome this problem and whether my budget and the revenue my business would earn can cover the costs of running electricity generators when there is no electricity available.

I should only start the business if I know it is possible for it to cover everything, and if it can't, I should look for something else to avoid facing issues.

However, governments need to tackle such issues to make their country and people live at ease.

Electricity problem is mostly in developing countries. Many times we see in the news feed that there is not enough supply of electricity in various developing countries due to which the people of those countries are getting electricity supply for three to four hours in 24 hours. If the main power grid of a country does not have enough power supply, it cannot supply the customers from there. I have read about many countries where 12 to 15 hours of load shedding per day is quite common in countries where power supply is one third of demand. You can't blame anyone for this because the government is doing enough but those who are not able to meet the demand of electricity. If the government didn't try, you could say everything to or against the government.

I feel you were planning on giving more than one point
And next time try to place spaces and maybe bold the sub title to make it appealing in the eyes.
Okay just started the thread and can tell you Nigerian
This would be better moved to our local board.
It's not all countries that are facing similar issues we do here
Some are wars, natural resources, political instability among others.
One of the biggest challenge to me everywhere should be capital and innovations.
Besides not all business explicitly or primarily requires the need of light.
A store that's sells Aluminum and glass wouldn't take having light as a priority but space and security.

There are so many challenges business men and women are facing in the country right now that is making most of them not to grow and sometimes people that wants to start up a business will feel discouraged because of those challenges. One of the challenge is;

1. Unsteady light: this is one of the major challenge business men and women are facing, imagine people who has computer center, hotel, provision store etc and there's no steady light, how did you expect there business to move forward especially now that the price of petrol has gone up and the annoying part is they will be paying for light (PHCN) yet they won't give light steady. How did you expect someone that is doing photocopy and printing to be buying petrol to put on his or her generator, that doesn't make any sense the money they will use to do photocopy and printing can not even buy the petrol. Hotel owners too, same thing imagine buying petrol for lister that will be generating electricity to 30-50 rooms with ac inside all the rooms that's very expensive and most customer can't stay without ac. Provision stores, you must make sure your drinks and other things get chilled else customer won't buy. The inability to make all these things available in your business will result to shutdown of business and providing them will still result to little or no profit. Even if the country wants to be porous, hard etc they should at least make light available, light is somehow therapeutic in the sense that sometimes you feel dull and lazy but the moment you see light you become relief and there's this vibe that light always give. Light doesn't just affect business people but everyone who need's it.