1000$ Plan _ Not Just Spending.
If today I suddenly had 1000$ omoooo, no jokes here , there's a lot of things I would do with that money, sometimes when money comes to people's hand , their first thought is to spend to buy all what they have been craving for, but trust me , I'm wise , I wouldn't do that if I suddenly came across that kind of money.
First thing I would do is to start my business, I have been meaning to start a clothing line business for a while now ,but it requires alot of money and if I had this money I would remove a part of it and start this business, I don't need a shop to sell,it's just to go to the market and source for products that are high in demand and start selling online and offline, take it to Church,school, meetups etc and advertise what I'm selling, just the idea of having something that's brining you daily monet is actually so nice to think of.
I have learnt that it's always wise to divide money wisely, that's why I'm not going to put all in the business, yes a good part of the money will be for the business, knowing fully well that I will be selling and restocking again.
Next is investing some part of it, you can never go wrong with good investment plans, instead of your money to just sit there Doing nothing, put It into good investments that you might have made good research on , now people go into investments without proper checks and that's wrong, so do proper checks and put the money in invests that would also yield increase, over time it would become something huge.
Okay , next is saving , I would put a little into saving, yes saving , something you can fall back on , saving for the future,life has a way of surprising us with unexpected surprises,so it's for things like this.
So having 1000$ will be like an opportunity to build a name for myself, something big for myself and yes I will not take it for granted or anything, it would be somewhere that my kids and partner would benefit from a great deal.
Sometimes it is not really about how much money you have, but how wisely you choose to use it, and with the right decisions, even $1000 could be the beginning of something meaningful.
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It's crazy that over here, $1000 only barely covers a month of bills if you live in a normal house and have a car, but where you are, it's enough to start a business.
It's enough to start a business here,a big business that would sustain someone.
I guess it helps that the cost of living is lower, although I'd love to know how it relates to earnings. If the cost of living is half that of the UK, but earnings are also half, then it kind of balances out.
It's a shame that there is a perception that investing in small or startup businesses overseas is so risky.
What kind of challenges do Nigerian small businesses face ? Here, I have significant issues with over-regulation, high (and over-complex) taxation, dealing with large suppliers (e.g Royal Mail, utility companies etc), and general crime (false non-delivery claims and other forms of theft/fraud).
Corruption isn't a direct issue here, but indirectly it has a massive impact - it's a game that only some can play, but drains massive amounts of money from the economy, which is being reflected in crumbling infrastructure and general inefficiency. We've had a saying for a few years: "nothing works any more".
What I really admire in the Nigerian businesses I see posting here on Hive is their incredible resilience, adaptability and hustle mindset. Something the English could definitely learn from !
Okay let me explain this, so while 1000$ might feel like a lot of money for an average Nigerian is because
They aren't living an expensive lifestyle, you only get to say that 1000$ isn't enough for you if you live in a very big house that you have to pay alot of rent for ,it you drive big cars, that's for that
When it comes to business 1000$ is actually a good amount of money to start a good business, you don't issues of tax or stuff, it's only recently the Federal government said they will deduct 20% thereabout for everything bank account that earns up to 800,000 naira.
So doing business is really good idea,but then your have to know your target audience for whatsoever business.
Corruption will still be a thing here, but then having your business as a Nigerian is like a big deal , especially one that brings money in.
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