Running a successful business in Nigeria is most times challenging due to myriad of problems. It’s even more difficult if you are just starting your business, or operating a seasonal business. Apart from the operational and customer issues that inevitably eat up your time, you also need to know where you stand financially. As good […]
One of the most frequent questions I get as a mentor to entrepreneurs is, “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to popular myth, nobody is waiting in the wings to throw money at you just because you have a new and […]
Lack of succession plan, tendency to own everything, lack of established processes and lack of discipline are some of the factors responsible for the collapse of many one-man businesses in Nigeria after their owners’ demise. These factors, among others, were enumerated by business experts during the official launch of the book ‘The Entrepreneur’ written by […]
What do we think of when we think of fiscal year end? Taxes! What else? That’s why for businesses, year end is the perfect time to do your business planning for the following year. You’re already dealing with the books so why not do some analysis and make some decisions to ensure that your business […]
Accounting procedures is the system or processes of recording and reporting financial information. Accounting procedures varies according to the time of the year whether it is the beginning or the year end. The end of the year is the time that businesses close their account and start preparing for the statutory audit. Accounting procedures for the year end provides opportunity for businesses.