If you run a small or medium scale business in Nigeria, then you’ll know that there’s a litany of challenges assailing every small business owner. From inadequate working capital, stiff competition from larger companies, difficulties in sourcing raw materials, low capacity utilization, lack of management strategies, the list is endless.
And little wonder why 80%of businesses under the Micro, Small and Medium Enterprises (MSME) in Africa fail within the first five years of their existence despite having the highest entrepreneurship rate in the world.
However, despite these challenges there are countless inspiring stories of entrepreneurs who have defied the odds and built successful ventures with incredible growth potential. So the question is, what did the outliers do differently?
Laurin Hainy, CEO and Co-founder of FairMoney, as well as Tomi Ayorinde, CEO of PayForce by FairMoney, aims to shine a spotlight on these entrepreneurial heroes and their remarkable journeys through the “Doing Business” podcast, powered by Payforce by FairMoney.
In the debut episode, hosted by Laurin Hainy, we get a sneak peek into the world of the MD of Nuts about Cakes, as she shares her challenges, wins, and future prospects.
Doing business in Nigeria comes with its fair share of hurdles, and the debut episode of this podcast dives in headfirst. The MD of Nuts about Cakes shares her struggles of running a business in a weak naira economy, where most of their ingredients are imported.
As a Payforce by FairMoney initiative, the “Doing Business” podcast not only shares captivating stories but also showcases practical tools and resources available to Nigerian entrepreneurs. With each episode, the podcast highlights how businesses like Nuts about Cakes leverage Payforce by FairMoney’s seamless payments via seamless transfers, QR codes, and even POS to streamline their payment processes, providing valuable insights into the ways entrepreneurs can manage their finances efficiently and effectively.
Want to get insights into Nigeria’s burgeoning business industry? Join Laurin and Tomi in this captivating series that brings to life the experiences of Nigerian entrepreneurs who have dared to dream and overcome obstacles.