The world is now facing a new decade and there’s going to be some inconsistencies in business around the globe. Having to steer through a new business scene is always a risk for small business owners and entrepreneurs. However, if new territories or trends in business provide new and novel opportunities for small business owners in Nigeria, then it should be good.
Last decade was unusual for all kinds of business people around the world. All kinds of financial crises were witnessed globally but also various series of recovery were observed. The entire business platform of the last decade revolved around this fact.
Every business is different, so each trend impacts them differently. However, business owners in Nigeria are expected to keep up with the latest trends in tech, marketing, and other areas to stay ahead this decade. They will all have revolutionary effects though some more than others.
Trends that will run the business scene in Nigeria
- Recession – A global recession is plausible as interest rates are feared to go below zero. Businesses should be on the watch for this and get ahead before that happens.
- Sustainability and Climate Issues – Businesses and even consumers in Nigeria are beginning to get in line with environmental crises. Climate change will put pressure on resources, supply and demand will suffer. This could force millions of into hardship as reported. Consequentially, businesses are dealing with the challenge of plastic bags use and settling for eco-friendly bags.
- Growth in remote and online business in Nigeria – Running a small business does not make it easy. What makes business easier is reduced charges which enable owners to save cost. The idea of remotely running a business is on the increase and so is remote working. This is appealing to small businesses who are now taking advantage of online retailing and commercialising. More people in Nigeria are beginning to appreciate online shopping system.
Follow us on Facebook and Twitter for new posts on Africa and Business in Africa.