The main risks facing many small businesses in Nigeria revolve around internal and external factors such as customer behavior, work force, attitude, economic climate, political stability, regulation and compliance costs. Other areas of risk to businesses are input costs, compliance costs, market manipulation by some players, competitor activity, cyber-crime, and debt. The current reality of the corona-virus (COVID-19) pandemic is equally a risk to businesses. All these ordinarily will impact on business operations and its performance.
CREM has devised a method of assisting small business to be profitable. Businesses are most likely to be successful if they are developed keeping in mind the demand and supply forces operative in the target market. Through feasibility studies and environmental scans, organizations can be assisted to obtain insights about market capabilities to absorb new products. Such insights can then be used to develop customer-centric and client friendly products. Why not contact us for more information on such possibilities on info@cremnigeria.org.
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i) Drucker, P. F. (1999). Management challenges for the 21st century. Harper Business. ii) Kolb,…