90% of the businesses started in Nigeria this year will fail before 2022. And half of the surviving 10% will close shop before 2026.
Alarming statistics, no doubt, but not so alarming when you know how to keep your business alive and healthy.
Businesses that thrive in the Nigerian economy know three things:
1. A large revenue can be swallowed up by an even larger cost of operation, so they keep running costs at a minimum.
2. Cash flow is everything and profit isn't profit if it is not money sitting pretty in a bank account.
3. The only way to win is to keep an eye on the important figures: revenue and cost.
And the space between revenue and cost is called the MARGIN.
The wider that space is, the more likely it is that a business will survive.
Designed by Venia Business Hub, MARGIN delivers practical advice and resources to help Nigerian entrepreneurs build and maintain profitable businesses.
We do not offer untested theories or useless information, only first-hand truths and actionable methods from the heroes behind Nigeria's most successful businesses.
As a member of the MARGIN community, you will have access to exclusive local insights and business advice free of charge. You will also receive invites to our events where you can interact with superstar entrepreneurs and take your business further.
You are welcome to join us.