Outline
                      • Getting started: The idea, the business plan, 
                      Registration
                      • Why Start a Business
                      • Typical Business Life Cycle
                      • Business Opportunities in Nigeria
                      • Challenges of Running a Business in Nigeria
                      • Navigating the Nigerian Business Terrain
                      • Essential Business Skills For Business Owners in Nigeria
           Getting Started
           Starting a business can be a very daunting endeavor in any part of the world and Nigeria is no exception. 
           One that requires meticulous planning and decisive execution.
            The Idea                                                      The Business Plan
            •   Every Business starts with an idea                        •   Once you have conceptualized the 
            •   Ideas rule the world – including the                          business idea, the next step is to 
                world of business                                             translate it into a business plan
            •   The easiest way to conceive a                             •   This involves a lot of research 
                business idea is to focus on solving a                    •   A business plan is the blueprint of 
                problem in your community/country                             any business. It shows the goals of 
                and what you really love to do                                the business and the routes to 
            •   Every successful business venture                             navigate for success in the business
                starts with a solid idea that is backed                   •   A good plan is the starting block in 
                up with a detailed business plan                              a business (Hab 2:2)
         Registering Your Business
    This is a very important part of starting a business. In Nigeria, a business can either be registered as a Business 
    Name (Sole Proprietorship or Partnership) or as a Company (Private Company or a Public Company). 
    The Corporate Affairs Commission(CAC) is responsible for registering/incorporating companies & businesses in 
    Nigeria as empowered in the Companies and Allied Matters Act. 
                                   Choose a business name and check for the availability
                                                           1
         Submit the original copies of your                        2      Complete your pre-registration form 
         documents                                5                       to register a Business Name/Company
               Prepare the required documents         4           3        Pay for a filing fee
               for upload
    The process for registering a Business Name can be done fully online without the services of the Legal Practitioner, 
    Chartered Accountant or Chartered Secretary
    Outline
                      • Getting started: The idea, the business plan, 
                      Registration
                      • Why Start a Business
                      • Typical Business Life Cycle
                      • Business Opportunities in Nigeria
                      • Challenges of Running a Business in Nigeria
                      • Navigating the Nigerian Business Terrain
                      • Essential Business Skills For Business Owners in Nigeria
          Why Start A Business
       Nigeria is both the most populous and                                    There is a very large market for almost 
                                                                                every product and services
       largest economy in Africa 
                                                                                The economy is robust with high 
                                                                                demand for a wide variety of products 
        Population                              GDP                             and services
                                                                                There are several challenges in the 
                                                                                country, most of which can be 
                                                                                converted to viable businesses
            200mn                             $410bn                            Nigeria is fast developing and there is a 
                                                                                huge need for innovative products to 
                                                                                keep up with trends
                                                                                Every business has the potential of 
                                                                                impacting several lives
       Source: World Bank