Business News

You've just had a wonderful idea for a startup company. It's been spinning around in your head for months now, and you just know that you have something special on your hands. Your thinking is, "If only I could make it work" or "If only someone would give me the money to get it off the ground!" Well, guess what? No one's going to hand you a sack of cash. But the good news is that you don't need anyone's money if you can't find anyone to help fund your business idea. Here are the steps you need to take…
Tax payments from local companies in Nigeria saw a massive 249.2 percent jump in the second quarter (Q2) of 2024, according to the latest company income tax (CIT) report by the National Bureau of Statistics (NBS). The CIT, also known as corporate tax, is levied on the profits made by companies operating in Nigeria. It is regulated by the Companies Income Tax Act (CITA) and enforced by the Federal Inland Revenue Service (FIRS). Currently, the tax is charged at 30 percent for companies with more than N100 million in turnover, and 20 percent for companies with a turnover ranging between…
Moniepoint, a financial technology firm (fintech), says 58.9 percent of women-owned businesses in Nigeria struggle to access funding. Moniepoint, in a report focusing on funding for women-owned businesses in Nigeria, said 40.2 percent of women use their funds and savings to run or start their businesses. The fintech said while 16.7 percent of women manage to get access to loans from their financial institutions, 83.3 percent are left to rely on family, friends, and personal funds to start or keep their businesses running. “For many women-owned businesses, sources of funding are few. With a financing gap of 32%, women are…
Melody Wilding “Eric” is a program manager at a fast-scaling tech company. He’s hungry for career growthand perfectly positioned to take on more responsibility. He’s eager for exposure to senior management and hopeful he’ll eventually advance to a director-level position. Yet despite his ambition and potential, Eric finds himself constantly repeating two toxic words: I’ll wait. “I’ll wait until I’ve finished this major project rollout,” he tells himself when a new leadership opportunity opens up. “I’ll wait until after my quarterly review to bring this up,” he decides when considering whether to pitch an idea to his boss. “I’ll wait…
Recently, I saw a video on social media that showed a public figure in a bad light. That person's voice and face were easily recognizable, so people ran with it, sending an onslaught of negativity their way.The video was later debunked as an artificial intelligence deep fake, but by that time, thousands of hate comments had already been posted. Misinformation like this is a major problem facing today’s young people, Bill Gates tells CNBC Make It. He’s tackled issues from climate change to poverty — yet, online misinformation has him stumped.“Misinformation is the one where I, a little bit, had…
Financial stability often seems elusive for many in the lower middle class. Despite working hard and having steady incomes, numerous individuals are caught in a cycle of economic struggle. This article explores ten everyday habits frequently hindering financial progress and offers practical advice on overcoming them. 1. Living Beyond Your Means One of the most detrimental habits is spending more than you earn. This often manifests through excessive credit card use and taking out personal loans for non-essential purchases. When you consistently outspend your income, you deplete your current resources and mortgage your future financial stability. For instance, using a…
Founded in the year 578, Japan’s Kongo Gumi construction company is recognized as the oldest continuously operating company in the world. Thousands of companies are founded and liquidated daily around the globe, many of which only operate for a few years, maybe even months. The world’s most valuable companies have only been around for a few decades and with technology changing the business landscape at breakneck speeds, who knows how long they’ll be around. Today, there are only a few thousand companies older than 200 years, and even those seem relatively new compared to the world’s oldest continually operating company,…
Dangote Oil Refinery has begun processing petrol after delays caused by recent crude shortages, an executive said on Monday. The $20 billion refinery on the outskirts of Lagos, built by Nigerian billionaire Aliko Dangote, began operations in January with output of products including naphtha and jet fuel. With a capacity of 650,000 barrels per day, Africa's largest refinery promises to ease oil producer Nigeria's costly reliance on imported oil products. "We are testing the product (gasoline) and subsequently it will start flowing into the product tanks," said Devakumar Edwin, a vice president at Dangote Industries Limited. He did not say…
Tuesday, 03 September 2024 04:50

4 retail marketing strategies for small shops

Key Takeaways Marketing your small retail business involves a creative, multichannel approach. You can maximize both in-store and online opportunities by using the simple yet effective marketing strategies listed in this article. As a small retail shop owner, you have big ambitions but, perhaps, a tight budget. You want to attract more customers but not blow all your means on expensive ads or social media marketing. What are some strategies to implement now and attract more customers? From the in-store experience to upping your digital "curb appeal," here are some simple yet effective ways to market your retail store. 1.…
Technically, Sophie Riegel didn’t spend a penny starting her side hustle. She began with items she already had, searching through her closet for old clothing to sell online. After making $200 off her own used clothes, she turned to some of her favorite places to shop: thrift stores. “I’ve been a thrifter my entire life, because I don’t like spending money,” says Riegel, 23. “I’d much rather spend $5 than $100 on a pair of pants.” Since April 2020, she’s turned that habit into a lucrative side hustle. Riegel brought in nearly $123,800 in revenue last year reselling items she…
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Oil prices jump on US storm, Israel-Iran fears

Oil prices jumped about 4% on Thursday on a spike in U.S. fuel use before…
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Atiku slams Tinubu over latest petrol price hike, calls president trending nickname

Former Vice President Atiku Abubakar, on Thursday, mocked President Bola Tinubu over the president’s handling…
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Here’s the latest as Israel-Hamas war enters Day 371

Senior Hezbollah official survives Israeli assassination attempt, sources say A senior Hezbollah official eluded an…
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LUTH begins bone marrow transplant treatment for sickle cell patients

Following years of research and planning, the Lagos University Teaching Hospital (LUTH) has successfully launched…
September 22, 2024

Dubois knocks down, knocks out Joshua to retain IBF heavyweight world title

In an astonishing upset, Daniel Dubois delivered a career-defining performance, defeating former two-time world heavyweight…

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