How to Articles & Guides for SME’s

December 2016

SME's DIY: How to Expand Your Small Business Locally

Most small businesses get the majority of customers from the local community around them. But once you’ve settled into a place, it can be hard to attract new customers. There are still several ways that you can continue to spread the word about your business beyond your already loyal customer base. Here are a few things you can do to keep your small business thriving in your local community. Get listed Make sure your business’s location and phone number are listed in [...]

SME's DIY: Small Business Logo Design Services

Don’t let the name of this section put you off – while the services listed in this section enable you to create a logo on your own, a background in design or graphic design software is not required. The upside of these solutions is the price. There’s no cheaper way to create an effective logo. The downside is the fact that the images and type (i.e. fonts) used in your logo will not be unique. That’s acceptable however as most [...]

SME's DIY: Why SME's Need to Focus on Sales, Not Marketing

JESSICA LIVINGSTON: The most important thing an early-stage startup should know about marketing is rather counterintuitive: that you probably shouldn’t be doing anything you’d use the term “marketing” to describe. Sales and marketing are two ends of a continuum. At the sales end your outreach is narrow and deep. At the marketing end it is broad and shallow. And for an early stage startup, narrow and deep is what you want — not just in the way you appeal [...]

November 2016

SME's DIY: Should I register a business name or incorporate a company?

Usually, the earliest legal question on most Nigerian Startup Founders’ lips is, “what is the better legal entity, a Limited Liability Company (that is, a company with the suffix “limited” or “ltd”) or a Business Name. My response to this question doesn’t come earlier than I have first understood the corporate strategy and vision of the business which would ultimately determine what form of business structure is most suitable for the startup. It will be useful to briefly mention the [...]

SME's DIY: The step-by-step guide to incorporating your Company in Nigeria

To register a Limited Liability Company is not difficult, although this business entity (particularly at the post-incorporation stage) is strictly regulated by the Corporate Affairs Commission (CAC), the government body charged with the responsibility of incorporating, monitoring and regulating the affairs of corporate entities in Nigeria. The best approach to registering a company is to instruct a Lawyer in this regard. The reason for this is not farfetched, apart from the fact that one of the Forms required for [...]

SME's DIY: 60+ Creative Marketing Ideas for Small Business

If you’re a small business or new startup, you don’t have money to waste on expensive advertising like your bigger competitors can. To compete on the same level but with a smaller budget, you have to market smarter. Start by brainstorming with your business partners and connections to come up with several cheap outside-the-box marketing tricks. This method produces ideas that are tailor-made for your business and already incorporate your key values and message. 60+ Creative Marketing Ideas For Small Businesses.Then, if [...]

SME's TIPs: 5 Gangster Movies Every Entrepreneur Should See And The Lessons They Teach

Gangsters became such a fascination in the early 20th century that Hollywood, always looking for a new trend, jumped on it with gusto. They haven’t stopped since. Some of the most memorable films of all time come from this genre, which touches on so many factors that make up America, including an entrepreneurial spirit. Of course, the entrepreneurs in these cases work outside the law, which is not advisable (a point all of these movies make, usually). But in watching [...]

SME's TIPs: How can SME’s Use Big Data For Smarter Business Decisions

SMEs have always been under the impression that big data analytics is for large corporates since it involves a huge budget and multitude of skills. | Hence they often fail to make proper use of big data. But now many platforms have come into the picture which can empower SMEs to make use of big data analytics. The reason behind this being falling prices of technology, new tools for analytics and the proliferation of open source projects. The benefits of big data analytics [...]

SME's DIY: How To Obtain, Update, Validate Your Taxpayer Identification Number

The Taxpayer Identification Number (TIN) is a unique number allocated and issued to identify a person (an individual or a company) as a duly registered taxpayer in Nigeria.  It is for use by that taxpayer alone as registration for tax purposes is a legal obligation of every person who is required to pay tax in Nigeria. The following necessary details for obtaining and updating the TIN should be presented to the tax office nearest to the address of the taxpayer. Requirement [...]

SME Tips: 7 Benefits of Integrating Live Chat With Your Website

Live chat is an online communication channel to interact with visitors on your site in real time. The main idea behind integrating live chat in your site is to make life easy for your visitors by solving their problems quickly and effortlessly. The chat button can be positioned anywhere on your site. Live chat can be used for prospective customers to help them with their buying decision or for current clients who are looking for support with a product [...]