Starting a business in 2021- David Oke


David who is the DG of Badagry Chamber of Commerce with many years of experience in business management proposes two ways of getting a business idea.

  1. Solving a problem or bridging a gap in a certain market by looking around you
  2. Looking inwards and thinking of solutions to problems peculiar to you.

The best way to get funding for your business is by bootstrapping. This means using your personal savings. Getting a loan from private entities is not always advised when starting a business. This is because businesses don’t always make profit in the first few months of startup. Family and friends may be of help as well.

Drawing up a business plan is key. A business plan helps you make research on your intending field and market. It also helps put things in perspective and gives you a realistic idea of how businesses work.

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