Factors Affecting The Success Of Online Business In Nigeria and How to Overcome Them.
Thinking of starting online business in Nigeria? That sounds good but yet challenging a times even frustrating due to these five major factors explained below.Get your content seen by many people
1.Lack of Finance
2.Unsteady power supply
5.High cost of mobile Data
LACK OF FINANCE
The major factor affecting starting online business in Nigeria is lack of fund for start up.Because of economic hardship facing the country presently and high cost of living,starting up a new business online or taking an existing business online has never been easy.
For instance, it requires money to get at least the gadgets needed to kick start your business online.it also requires money to pay for online subscription bills such as mobilSUPPLY .it takes money too,to set up your Online presence such as creating websites, blog or Apps for online business. It takes money also to let people know what you do online through advertising and promotion of your services.
Another Major factor affecting online business start up in Nigeria is unsteady power supply-That is Electricity.
UNSTEADY POWER SUPPLY
Lack of power supply or electricity makes it difficult for online businesses to thrive in Nigeria. Because it is called online business and online businesses are done Online 24/7 and not offline. Now imaging a beginner trying to put somethings together and before you know it the light is gone! That could be disappointing and discouraging isn’t it? Yes, Sure!
Secondly, it cost so very high to run feul generators or to secure solar panels for steady light especially for newbies.
Time Factor is another issue affecting starting online business in Nigeria.
Working Online is not easy,it can be time consuming especially when you are running it alone,perhaps because there’s not enough money to higher workers or freelancer
ln such situations to set up your Online job tasks,handle marketing and so much more could be very daunting.Caring for other social activities and house chores can equally affect your Online business goals.
Lack of sensitization about Online business is another major factor affecting online business in Nigeria
Most Nigerian’s lack adequate sensitization of Online business and how to venture into it thereby increasing the height of unacceptable of Online business in Nigeria and that is another strong factor.
Most Nigerian’s have not seen Online business as a way to curb the job insecurity mishandling the country and its economy.
Some see every online business as fraudulent so far it is done Online.
HIGH COST OF MOBILE INTERNET DATA
The last but not the least we want to talk about is internet mobile data for surfing the net.
Because of the exorbitant charges of data subscriptions from the telecommunications service providers in the country ,doing business online becomes a big problem.
Working online requires spending long hours in other to accomplish your set out plan for the day and when your data subscriptions finishes so quickly without you achieving your desired goals it can be disappointing.This is true especially newbies who haven’t started earning much or at all online from their business.
Having Identified These Five Factors Slowing down the success of online business in Nigeria, we want to now look at what possibly we can do to overcome them if really we want to think outline.
LACK OF FUND
Granted lack of finance hinders so many people from taking their existing business online or entirely starting a new online business. Thinking about huge amount of money involved in designing a financial website, web hosting, email hosting and hiring a professional freelancer to write engaging contents for you, going online becomes a problem.
What about marketing and advertising your new online business?
Surely, getting new customers to your business is a challenge without qualification advertising services. Hence running such ads requires huge capital.
But the good news is that you are not alone, yes there is help, and there are a lot of free online services you can utilize and grow your online presence gradually.
If lack of fund is the challenge holding you back from taking your business online or starting online business today. Check this options that has helped many business owners today to succeed.
Source for grant/loan
Start with Free Online tools
Get Free Online Business Training
A lot of Organizations, Governments and Banks in Nigeria are giving out loans and grants for small and medium enterprises. Join one and source for loan or grant to run your online business.
UNSTEADY POWER SUPPLY
If there is no power supply like electricity to power your phones and computers, there will be no online business. Hence power is a necessity while thinking of your business online. Considering the unsteady light system in Nigeria, online business is almost impossible, yet you can succeed.
Three electricity alternatives can be a remedy to that:
Consider Setting Up Solar Panels
HIGH COST OF MOBILE/INTERNET DATA
To be steady online and run your business requires huge amount of data subscription. Hence the challenge here in Nigeria is that the telecommunication companies are selling instant data at a high rate and before you know it your Data will be exhausted.
Yet you can succeed. The remedy has an option for higher data bundles which gives you the opportunity to buy greater amount of Data at reduced prices as well as Data Bonuses.
Buy data @ cheaper rates here
Misconception about online business and about people doing it in Nigeria is a strong factor affecting online businesses.What is the remedy to it?
Avoid Misinformation of what you don’t know
Get sensitized by an online business expert to put you through.
Make Thorough Research by Yourself
Running business online requires a lot of time and especially when doing everything yourself. You think about setting up your Website, blog writing or App, you think of filling them with engaging contents, you think of designing and ads posting.
Doing all of these, all alone can be very stressful and time draining leaving you exhausted at the end of the day, sometimes you may not even get the job rightly done.
What you should do
Organize yourself and set a target.
Engage Freelancers to help you do some certain jobs.
The cost of getting them done may surprise you, that way you create more time for yourself and family doing what you love socially.
Need a Freelancer now? hire one here.