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Dear ,This week, we have curated the top, latest resources that proffer solutions to the current challenges you might be experiencing as a Nigerian entrepreneur. Find them below. 

TOP ARTICLES FOR THE WEEK

Post-Subsidy Tips for Reducing Costs

As a result of the removal of fuel subsidy, the prices of fuel, energy, logistics and raw materials have increased, thereby reducing your profit margin. To help you cushion the effects and navigate the current Nigerian business terrain, here are six (6) strategies for you here.

The Business Facilitation Act 2023

Also known as the “Omnibus Act”, it is aimed at improving the ease of business in Nigeria and to further create an enabling environment for micro, small and medium-sized enterprises (MSMEs) to thrive in the country. Here's all you need to know about the Act and its impact on personnel costs.

When is it Safe for a Distress Price?

Distress pricing is a decision to temporarily cut down the target selling price of a product/service to enhance liquidity, keep a significant customer segment and/or meet other urgent business needs. Find out if your products need a temporary distress price here.   

Bootstrapping your Business

Bootstrapping is a method of starting a business with your resources.

 It means your business is mainly self-funded or wholly funded by you and/or the founding team.

Learn about the processes and sustainable ways of building your business from zero to profit here.

VIDEO: 5 FREE ACCOUNTING SOFTWARE FOR YOUR BUSINESS

Tired of being unable to account for your business finances? Implement a proper accounting system. One of the ways to achieve this is by utilising accounting software to keep your books organised, presentable and accurate. Only then can you take extra care and diligence when presenting and recording your transactions. Watch the video here.

For more articles, videos, tools and templates on how to start, grow and scale your business as a Nigerian entrepreneur, visit www.msmehub.org.