Types of Business Insurance
Types of Business Insurance. Insurance, previously presented as a risk transfer mechanism, is one way, among several others, by which a business owner can use to manage his risks. What then is insurance? What types of insurance are available to aid entrepreneurs in the management of their risks? Is it every risk that the entrepreneur…

Characteristics of Public Corporation in Nigeria – Advantages and Disadvantages
Public Corporation Advantages and Disadvantages. Government, like individuals can establish and run business organizations. These organizations are usually established by an Act of Parliament or Decree to perform pseudo – commercial ventures. Public corporation can therefore be defined as business organization established by Acts of Parliament or Decree to carry out quasi-commercial activities under the control…

Types of Limited Liability Company Advantages and Disadvantages
Kinds, Advantages and Disadvantages of Limited Liability Company. Limited liability company also known as joint stock company (JSC) is a business organization owned by 2 to limitless number of persons. This form of business organization is managed by directors who are usually appointed democratically at Annual General Meetings (AGM). Kinds of Limited Liability Company. There…

Drawbacks and Benefits of Co-operative Society in Nigeria
PROs and CONs of Co-operative Society in Nigeria. Here are some of the advantages and disadvantages of cooperative societies in Nigeria and around the world. Advantages of Co-operative Society. Below are the advantages of co-operative societies: Stability of trade due to patronage rebates and need to finance one’s prestige and safeguard the society. It engenders…

Meaning and Features of Cooperative Society
Types of Cooperative Society in Nigeria. First of all, co-operative society is a form of business organization usually established to cater for members. It ensures communal living with collective interest. It is an association of people with common social and economic interests who engage in the creation and sale of things of value to members…

Partnership Business Advantages and Disadvantages
A partnership can be defined as an association of two to twenty persons carrying out business in common (in Ordinary businesses/ and ten persons (in, banking businesses) with a view to making profit. This type of business ensures and assures cross fertilization of Ideas, talents and experiences; more importantly it ensures increased capital base. The…

Advantages and Disadvantages of Sole Proprietorship as a Form of Business
Sole Proprietorship Advantages and Disadvantages. The sole proprietorship is also called one-man business. It is usually owned and managed by one man. It is found mainly in small business areas such as craft, GSM services, legal services, transportation and trading businesses. No restrictions are imposed on the establishment of this type of business. Those who…

Roles of Successive Governments in promoting Entrepreneurship in Nigeria
Federal Government Policies and Programmes that Accelerated Entrepreneurial Growth in Nigeria since 1960. General Yakubu Gowon Administration (1970 – 1975). The General Yakubu Gowon regime (1970-1975) introduced the second National Development Plan 1970 1974 the objective of the plan was to achieve a united, strong and self-reliant nation, a just and egalitarian society and a…

Nigerian Environment and Effects on Entrepreneurship Development
Environmental Effects of Nigeria on the Entrepreneur. The term environment biologically refers to the sum total or aggregate of the conditions, agencies and influences, which affect the development, and growth of living organisms. The environment could be physical or social. The physical environment includes the atmosphere, relief features, mater bodies, land, vegetation and wildlife, while…

6 Great Ways To Get Business Ideas
How to generate Business Ideas. Business opportunity can mean a good or favourable change available to run a specific business in a given environment at a given point of time. In general sense, the term opportunity implies a good chance or a favourable situation to do something offered by circumstances. A business opportunity can involve…