Thebossoffice was borne out of a strong need to salvage the prevalent economic challenges in Nigeria and other African countries. From our findings, Nigeria has well over 40 million micro, small and medium business enterprises which employ over 80% of Nigeria’s labour force and is the biggest contributor to Nigeria’s non-oil GDP. Our findings also reveal a 73% business death rate within this same sector within the first three years of operations.
Our research attributes the high failure rate in the SME sector to two key factors – poor funding options and poor leadership and management skills the small business owners possessed.