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…

Top 6 Entrepreneurship Success Skills
Skills Needed to Succeed as an Entrepreneur. The entrepreneur is creative and self-employed person who promotes free enterprise and self-sufficiency by creating and spreading wealth to the grassroots levels as a contribution to economic growth, employment generation and social progress. Self-employment may be described as the seizing of available opportunities to generate or getting involved…

How To Register a Business Name with CAC in Nigeria
Business Name Registration in Nigeria Guide. Here we will explain the procedure and requirement for registration of a business name in Nigeria. But first, let’s talk about the benefits of registering a business name in Nigeria. These benefits includes; Opening of a corporate account in any commercial bank. With a registered business name, you can…

Guaranteed Offtake Bulk Products Purchase from MSMEs
The guaranteed offtake scheme is one of the interventions initiated by the Federal government of Nigeria as part of the newly lunched survival fund targeted at MSMEs. The Nigerian government plans to do a bulk purchase of products from about 100,000 MSMEs in Nigeria to protect jobs and livelihoods through the guaranteed off take program.…

Survival Fund MSME General Grant
The general grant program is an offshoot of the Nigerian government’s newly lunched survival fund scheme. The federal government of Nigeria will assist MSMEs struggling from the effect of coronavirus by giving out over 5 billion Naira worth of non-refundable grant through the survival fund general grant program. Through this program, 100,000 businesses most affected…