The Advantage of Entrepreneurs in Nigeria and Africa at Large Amidst Economic Crises : How To Take This Advantage
It's no secret that Africa, and particularly Nigeria, has been plagued with economic crises for decades. However, these crises have created a unique advantage for entrepreneurs who are willing to take a risk and start their own businesses. Here are some of the benefits of being an entrepreneur in Nigeria and Africa at large during times of economic turmoil: 1. Necessity Breeds Innovation: When times are tough, entrepreneurs are forced to think outside the box and come up with innovative solutions to problems. This leads to the development of new products and services that can help to address some of the challenges facing the country, and can also create opportunities for future growth. 2. Less Competition: During economic crises, many businesses close down, leaving a gap in the market for entrepreneurs to fill. This means that there are fewer competitors in the market, making it easier to establish a foothold and gain market share. 3. Lower Costs: Economic crises can ...