4 Interesting Ways To Improve Your Business In A Down Economy
Nigeria, South Africa and Angola, among others, have been hit with varying degrees of economic challenges, and have struggled to limp out of recessions.
Times have been really hard for both small and big businesses. Hard economic times affect customer demand, which affects sales. And the adverse foreign exchange situation has skyrocketed the cost of doing business.
But even in these hard times, it’s very easy for entrepreneurs to get caught up with blaming external factors for our business woes.
We say things like:
“The government is not creating an enabling environment for small businesses.”
“I don’t have access to credit.”,
“My business is not located in a prime spot.”
And if you’re in my country – Nigeria — you might say “I don’t have 24-hour power supply”.
Most entrepreneurs believe that their business fortunes will turn around if all these “external” factors could work in their favor.
The list of could haves, should haves and would haves are endless. And if you’re doing business in Africa, it’s very easy to come up with perfectly valid excuses to explain why your business is in a rut.
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