Tuesday, 22 December 2015

7 Secrets of Lagos Entrepreneurs

 
Lagos Entrepreneurs have many things working for them despite the heavy traffic,  epileptic power supply, high cost of setting up businesses especially rent and complaints of heavy taxation. Yes! They are not discouraged. Hundreds of entrepreneurs launched new businesses daily. The most crazy or unheard story of a lady cobbler to a lady mechanic. Lagos is trending because of the large numbers of businesses powered by innovative Entrepreneurs. Currently, Lagos has more small and medium enterprise compared to other states.
Let's look at what is actually working for the Lagos Entrepreneurs:

Profitability
A Friend once told me that Lagos has room for everybody. I have seen businesses been set up even in the most unthinkable places. What is the motivation? Profit. Even the people that sells fairly used cloths
along the road makes an average of 5k every day.



Large population
Lagos is home to nearly 20 million people. An average Nigerian has a dream to come reside in lagos some day. Hundreds of people migrates everyday to lagos to hustle. It means demand for goods and services will keep increasing

Availability of Raw Material
More businesses more raw materials. The end-product of one company is the raw material needed for other company.

Markets
Lagos Mega city has markets for every product. Special markets from mandilas, Idumota, Computer Village, Alaba International, Badagry snake market to the online platform like Jumia, Konga, Kaymu and lots more. Yes! Traders easily find markets for their products.

Proximity to the border                                 
Lagos is host to Nigeria's largest seaport and border to Cotonou, Benin Republic. This implies that imported goods first arrival point is Lagos

Focus
An average Lagosian has a target to become very rich. The popular Lagos adage "we no come Lagos come count bridge ooo" shows how determined and desperate is an average lagosian. However, Most of them does their business in the most innovative and honest way.

Entrepreneurial spirit
Lagos is a land of opportunities but it is only those who are business savvy that can discover it. The only thing that is synonymous to Lagos is entrepreneurship.

Let get some comments. What do you think is working for Lagos Entrepreneurs?


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