Nigeria: Why Most Start-Ups Do Not Exceed Five Years

Lagos — With plummeting economic downturn in the country occasioned by economic recession, the informal sector has been described as the viable and veritable option to revive the economy.

But more often than not, start-up owners managing small and medium enterprises (SMEs) have grumbled about little or no capital to jump-start their businesses, and even those with little capital to start off soon realise that the venture is dead on arrival. Experts say many start-ups in Nigeria often fail before taking off due to poor planning.

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