Choosing Longevity Over Short Term Gains; How Economically Inclined Are Nigerian Business People?
The growth of a business is what happens with effort, the right conditions and time. When a business develops it naturally attracts customers she consumers because it has been tested and trusted. Nevertheless the reasons people are in business is to firstly make profits but then growth and longevity with the right marketing tools is what eventually makes businesses attains economics of scales.
Petty trading is one of the most lucrative venture in Nigeria because petty traders are the most direct and reachable form of retailers out there but the reasons why most petty traders don't reach that peak or that stage of growth is because they're into business for the short run, they have no human relation skills, they just want to make profits daily rather than taking time to build a customer-base, expanding their businesses and stopping to earn money per unit, but bulk.
The situation of the country's finaces is the shambles and this makes people want to make profit only a daily basis, maximizing their returns at the expense of growing overtime, I talk about all these and more.