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Information Technology Business Plan in Nigeria

Information Technology Business and Financial Plan

Our Information Technology Business Plan in Nigeria is well documented and can also be used for, but not limited to:

• Grant Applications,
• Bank Loans,
• Proposal writing,
• Business Concept Note,
• Competitions e.t.c

Purpose of the Information Technology Business Plan in Nigeria

Benefits of the information technology business plan in nigeria.

The Information Technology Business Plan in Nigeria is beneficial because

• It helps in outlining the steps needed to achieve the business goals and ideas.
• It helps to articulate strategy to stakeholders who support the business.

Importance of the Information Technology Business Plan in Nigeria

The Information Technology Business Plan in Nigeria is important because

• It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business.
• It will additionally gives distinctive statistics on all components of the business, outlining the business desires and the steps required to achieve them.

Content of the Information Technology Business Plan in Nigeria

• Executive Summary
• Introduction
• Business Description
• Keys to Success
• Products and Services
• Market Analysis
• Our Target Market
• Pricing Strategy
• Competitor Analysis
• Sales and Marketing Plan
• SWOT Analysis
• PEST Analysis
• Operational Plan
• Management plan
• Financial Plan and Projections
• Financial Diagnostics

Download The Complete Information Technology Business Plan in Nigeria

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ICT BUSINESS PLAN IN NIGERIA

ICT BUSINESS PLAN IN NIGERIA 

INTRODUCTION

ICT is an acronym for Information, Communication Technology.

Information and Communication Technologies (ICTs) is a broader term for Information Technology (IT), which refers to all communication technologies, that includes:  the internet, wireless networks, cell phones, computers, software, middle ware, video-conferencing, social networking, and other media applications and services. This business plan has a ten(10) years projection revealing plans and milestones to cover in accordance with the vision and mission of our ICT business plan in Nigeria.

EXECUTIVE SUMMARY

BUSINESS OVERVIEW

ACA computers and communication Ltd, is a company located in Akure ondo state.

We are involved in Website design, graphics designs, camera installation, hosting and development, Software and application development and installation, ICT Training and consultancy services, repair and maintenance of electronic gadgets including; computers, sales of high quality  phones and phone accessories, provision of repair and maintenance services.

Other additional services also include: printing and distribution of recharge cards vouchers, VTU, sales of bulk SMS and units, satellite television installation services, POS outlets, internet cafe, digital products sale, shopping apps, Tech gadget Rental, online research service, computer setup services, Tech consultancy.

THE COMPANY

ACA computers and Telecommunication Ltd, is a limited liability company that is owned by Mr Steve’s who is an undergraduate at the federal polytechnic Owo, Ondo state.

He is studying computer engineering, he felt the need of this business in this environment and decided to start up this company.

The enterprise will be located on the main campus of the polytechnic.

Our goals is to meet the needs of the polytechnic community and also to create job and IT knowledge for the youths in the environment, this will reduce unemployment and the recurring crime Waves.

The Financial goals and Financial projection of this business plan has been clearly expressed in the Financial plan session.

We have observed in the first year income statement a 40% profitability in the first year operation after the proposed injection of N 2,000,000 into the business, a  healthy cash flow and Balance sheet.

OUR MISSION AND VISION STATEMENT

Our vision is to be the number one computer qualitative and efficient firm in Ondo state

Our mission is to offer professional computer services through the help of capable, spirited and highly motivated staffs.

Our business objectives

• Achieve healthy returns in the first year of operation.
• To have a good gross margin throughout the entire operation.
• To maintain detailed inventory levels, or 11 turns per year.
• To increase sales modestly and steadily in the second and third years.

Benefits of our business:

• We improve customer service through software development and installation for our clients
• We aid greater and virtual collaboration
• We improve financial performances of firms that are our clients.

OUR TARGET CUSTOMERS

• Teachers/ tutors
• Primary/secondary school students and staffs
• Corporate bodies
• The entire polytechnic community
• Young school leavers, undergraduates, graduates, NYSC corps members, job seekers, and a wide range of organizations are always in need of our services.

OUR PRODUCTS AND SERVICES

• High quality branded computers and phones
• phones and computers accessories
• website development and management
• Repair and maintenance of electronic gadgets including computers,
• Graphic Designs, phones, household electronics
• television and cable installation services
• Cybercafe outlet/internet cafe
• Training and consultancy
• CCTV camera installation
• Tech consultancy

COMPETITIVE EDGE OF ACA ICT BUSINESS PLAN IN NIGERIA

• The company’s competitive edge is the managements’ strong technical skills gathered during our 10 years practical experiences before setting up the company.
• Our high profile customer care services
• and our positioning as a strategic friend with our clients, who are clients more than customers, has helped us with our Customers retention. By building a business based on long-standing relationships with satisfied clients, we simultaneously build defenses against competition. We are aware that reputation is extremely important, and word-of-mouth advertising is invaluable.

MARKETING PLAN OF ACA ICT BUSINESS PLAN IN NIGERIA

• The company will engage social media in a great way to promote the goods and advertise the company’s Products.
• To promote sales ACA computer and telecommunication will connect with bloggers, online news sources and we will also run google-ads, Whats App and Instagram ads also.
• The company will register with an affiliate scheme by harnessing the power of people on the web to promote sales on our behalf.

The company will have a website designed for her to make marketing easy.

SWOT ANALYSIS

• By utilizing its lean experienced staff, focusing on specific target markets and providing detailed project outlines, ACA computer and telecommunication Ltd provides high end consulting services at a fair and reasonable price.
• ACA computer and telecommunication Ltd is flexible, able to meet and exceed deadlines and easily adapts to changes as needed.
• Products get obsolete and technology changes.
• Substitution – many of the services ACA computer and telecommunication Ltd provides can be easily mirrored by larger competitors although have longer turnaround times, may be able to offer lower prices due to larger economies of scale.
• Customer base is limited with a potential for concentration risk should one sector become less than profitable.

Opportunities

• ACA computer and telecommunication has already attained a reputable status, making us attractive to partner with in prime government contracts.
• Continued expansion for online sales.
• Developing additional stores
• Development of wholesales/ retail distribution relationships
• Affiliate relationship with vendors
• Unavailability of funds
• National competitors might be able to reduce their prices due to efficiency in economies of scale.

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• Search ITA Search

• Market Overview
• Market Challenges
• Market Opportunities
• Market Entry Strategy
• Agribusiness
• Agriculture Sector
• Automotive Sector
• Aviation/Defense
• Construction Sector
• Education and Training
• Electricity. Power Systems and Renewable Energy
• Franchise Sector
• Media and Entertainment
• Information and Communications Technology
• Logistics Sector
• Oil, Gas, and Mining Sectors
• Safety and Security
• Trade Barriers
• Import Tariffs
• Import Requirements and Documentation
• Labeling/Marking Requirements
• U.S. Export Controls
• Temporary Entry
• Prohibited and Restricted Imports
• Customs Regulations
• Trade Standards
• Trade Agreements
• Licensing Requirements for Professional Services
• Distribution and Sales Channels
• Selling Factors and Techniques
• Trade Financing
• Protecting Intellectual Property
• Selling to the Public Sector
• Business Travel
• Investment Climate Statement

The information and communications technology (ICT) sector in Nigeria continues to play a pivotal role in the nation’s recovery in the wake of an economic lull during the pandemic years. Data from the Nigerian Communications Commission (NCC) reported that the ICT sector contributed 9.88% to the total nominal GDP in Q4 of 2021, lower than the rate of 10.58 per cent recorded in the same quarter of 2020. The figure reflects a declining shift as foreign exchange disparity widened and most organizations returned to physical business operations.

Nigeria is regarded as Africa’s largest ICT market with about 82% of the continent’s telecoms subscribers and 29% of internet usage. Sub-Saharan Africa is also projected to be the world’s fastest growing region with a compound annual growth rate (CAGR) of 4.6% and an additional subscriber enrollment of over 167 million in the next five years. Nigeria is expected to account for over 55% of this. The NCC estimates that the country has about 85 million broadband subscriptions (penetration of 44%) and 206 million lines in the voice segment (teledensity of 108%) as of June 2022.

In September 2021, the Nigerian government approved 5G in Nigeria. By December 2021, the Nigerian Communications Commission (NCC) had completed auctions for the 3.5GHz spectrum, awarding 5G operational licenses to MTN and MAFAB Communications. The NCC licensed Airtel a 5G spectrum on December 5, 2022.

The four major mobile network operators in the country (Airtel, Globacom, MTN, and 9Mobile) continue to strengthen their market share. Collectively, Nigeria has over 206 million mobile subscriptions. As of July 2022, MTN dominates the GSM market with over 79 million subscribers (38.36%). This is closely followed by Airtel with about 58 million subscribers (28.21%), Globacom has over 56 million (27.28%), and 9Mobile with 12.6 million subscribers (6.14%).

The government of Nigeria recognizes ICT as the enabler for developing other critical sectors including education, healthcare, agriculture, and manufacturing. In its drive to diversify the economy from oil and gas, the government is encouraging partnerships between local ICT companies and foreign investors. To promote these partnerships and grow an entrepreneurial ecosystem in the technology sector, the Nigerian government has supported government or private sector led incubator hubs, youth innovation programs, and science technology parks.

Much like the federal government, several states have begun to implement policies and ICT projects that may help to attract ICT investments and create an enabling business climate for their regions. The Lagos state government announced the construction of a free tech zone that would allow for growth and financing of innovative ideas and may become one of the major technology clusters in West Africa. Similarly, the Edo state government is promoting a live-work-play project that is expected to support a dynamic environment for innovation, growth, and development in technology.

Prominent among the partnerships with the private sector are collaborations with local accelerators like iDEA and the Co-Creation Hub (CC-Hub) in Lagos. These initiatives have attracted foreign investors like the Silicon Valley’s Y Combinator, who recently participated in pitches by Nigerian startups, and New York ‘s Andela, which established an incubation center in Lagos to recruit and train talented Nigerians to code and subsequently outsource them to foreign firms. In 2022, Microsoft launched its first African Development Center (ADC) in Lagos. The facility is expected to recruit world-class African engineering talent to develop innovative solutions that span the intelligent cloud and edge.

The Federal Ministry of Communications and Digital Economy has overall responsibility for the ICT sector. The ministry also has purview over three different agencies including the NCC as the regulator for the telecoms industry; the National Broadcasting Commission (NBC) regulates the broadcast industry; and the National Information Technology Development Agency (NITDA) is responsible for digital policy implementation.

The Nigerian government in November 2019 launched the National Digital Economy Policy and Strategy (2020-2030) aimed at repositioning the Nigerian economy toward opportunities that digital technologies provide and to diversify the economy away from dependence on the oil and gas sector. The program is based on 8-pillars for the acceleration of the Nigerian economy:

• Developmental regulation
• Digital literacy & skills
• Solid infrastructure
• Service infrastructure
• Digital services development & promotion
• Soft infrastructure
• Digital society & emerging technologies
• Indigenous content development & adoption

As part of measures to achieve this objective, the NCC rolled out the National Broadband Plan for 2020-2025.

The Broadband Plan is designed to deliver data download speeds across Nigeria of a minimum 25 Mbps in urban areas, and 10 Mbps in rural areas, with effective coverage available to at least 90% of the population by 2025. As part of the initial broadband expansion plan, Nigerian government is seeking private sector infrastructure partners in expanding last-mile access. To deepen broadband penetration across the country, the NCC granted licenses to telecommunications infrastructure companies (infracos) to provide telecommunication broadband infrastructure across the various geo-political regions of the country, especially the rural populace. The infracos include:

• MainOne Cable Company (Lagos zone)
• IHS Holding Limited (north central and Abuja zone)
• Zinox Technology Ltd (southeast zone) BCN (northwest zone)
• Brinks Integrated Solutions Ltd (northeast zone)

Nigeria aspires to become one of the top economies in the world and the country recognizes ICT development and broadband access as critical requirements to achieve this vision. This ambition, however, remains far from being accomplished as several hurdles have encumbered broadband expansion and investment opportunities for the sector.  Some of the major challenges that have affected the sector include long delays in the processing of permits; multiple taxation at federal, state, and local government levels; multiple regulatory bodies; damage to existing fiber infrastructure as a result of cable theft, road works and other operations; and right of way (ROW) charges implemented incongruously by several state governments. This typically leads to the high cost of leasing transmission infrastructure. Following criticisms and outcry by several stakeholders, the federal government has been pushing for the states to review ROW charges as part of promoting ease of doing business and attracting more investment. Currently, many states have started reviewing the charges above the federal-approved rate of $0.37 (145 naira) per linear meter. Some states are providing zero cost for laying broadband or any other telecommunications infrastructures to boost digital infrastructure rollout outside of urban areas.

Following the rapid growth and progress in the country’s ICT landscape, the country’s international connectivity improved from a single international submarine cable system with 340 GB total capacity installed in 2001 to a total of five cable systems with a combined overall capacity of over 40 terabytes.  However, much of this remains unutilized because of inadequate distribution infrastructure and channels to areas of need inland. This holds huge potential for Nigeria as increasing data capacity.

The future looks promising for this segment. The Nigerian mobile network operator and owner of the GLO 1 submarine cable already announced ongoing work to launch a second submarine fiber cable – GLO 2. GLO2 is expected to have a capacity of 12 terabit per second and be the first submarine cable in Nigeria to land outside Lagos when completed. It is also intended to scale up for further expansion southwards, including to Cameroon, Equatorial Guinea, Gabon, and Angola. Meta announced its ‘2Africa’ project, laying subsea internet cables that will stretch 22,990 miles and interconnect Europe to about 16 countries in Africa with 21 landings points, including Nigeria. Facebook notes that the cable, upon completion, will provide nearly three times the total network capacity of all the subsea cables serving Africa today, as well as support growth of 4G, 5G, and broadband access for hundreds of millions of people. In April 2022, Google landed its Equiano subsea cable in Nigeria. Google’s Equiano cable is expected to have nine branching units creating room for more international connectivity. In the Nigerian terminal point, it is expected to yield about 20% reduction in internet retail prices, a sixfold increase in internet speeds, and a 6% increase in internet penetration.

There are several other huge capital projects being championed by U.S. multinationals. U.S. firm Equinix acquired MainOne, which had been one of Nigeria’s major tier-III data centers, with footprints in Ghana and Cote d’Ivoire. Corning recently collaborated with Nigerian cable manufacturer, Coleman Technical Industries Limited, for local manufacturing of fiber optic cables. Cisco Systems got the approval of Nigerian government to develop six internet of things (IoT) labs across the country, with the focus of building the necessary skillset among students. IBM is championing its Digital Nation Africa (IBM DNA) program focused on empowering youths on the continent. The platform is designed to provide digital knowledge with practical understanding and enhance digital careers.

The growth of e-services and cloud computing has fueled the demand for data services, simultaneously creating the need for more reliable and high-quality broadband from service providers. The enterprise application software (EAS) market is currently dominated by products from Asia and Europe, with some imports from the United States, but the market segment for high quality products remains largely available.  

Nigeria has been able to maintain footprint in space through its communications satellite (NigComSat-1R), which was launched in 2011. The satellite is expected to be retired around 2025. In March 2021, NigComSat announced its call for expressions of interest (EOI) for additional communications satellites from competent manufacturers, contractors, vendors, and partners in the satellite industry. Firms will be pre-qualified for consideration in the implementation of the design, manufacture, launch, in-orbit test, and commissioning of a high-through satellite (HTS). The statement from the agency notes that it intends to increase its fleet of satellites to address a broad array of the communication needs of the country in the areas of broadcasting, broadband, and internet services by procuring the manufacture and launching of an HTS. 

Leading Sub-Sectors

Fiber on air and fiber to the home (FTTH) is receiving interest following the increased bandwidth capacity now available in the country. Local internet service providers (ISPs) in Nigeria are providing improved high-speed wireless to the home (WTTH) services.

Cloud computing is fast becoming a necessary aspect in the operations of large businesses and some government agencies in Nigeria. There are several data centers across the country; Nigeria currently has about four enterprise-grade and multi-tenant data centers categorized as Tier III or Tier IV. These provide any or all major data center offerings:

• Software as a service (SaaS)
• Platform as a service (PaaS)
• Infrastructure as a service (IaaS)
• Back-up as a service (BaaS)

Commercial activities within this segment of the market are expected to remain buoyant as the government is pursuing a data localization policy. The National Information Technology Development Agency (NITDA), the Nigerian government’s body responsible for data protection, is requesting all telecommunications companies host all subscriber and consumer data in Nigeria. Further, they request all ministries, departments, and agencies of the federal government to host their websites locally under a registered.gov.ng domain, along with all sovereign data. 

Fintech and digital financial services in Nigeria are gaining widespread use and acceptance as the government continues to campaign for a cashless economy. This is also being fueled by the increasing adoption of mobile phones. NCC, in conjunction with the Central Bank of Nigeria (CBN), now allows mobile network operators (MNOs) be licensed and perform mobile money payment services. The CBN issued an approval to two of the nation’s MNOs (MTN Nigeria and Airtel Africa) to operate as payment service banks (PSB).

With growing interest in online commerce, Nigerian fintech operators are also gaining traction. In October 2020, U.S. financial tech outfit, Stripe, announced the acquisition of Nigeria’s Paystack to accelerate online commerce across Africa. The acquisition, worth about $200 million, is the culmination of a close partnership between Stripe and Paystack over the last several years. The CBN recently announced that Nigeria’s fintech firms attracted an investment of $500 million between 2015 and 2020 owing to improvement in the ecosystem.

So far, digital financial services in Nigeria mainly provide savings, lending, and payments. The payments acceptance market, especially merchant and bill payment services, is fast becoming dominated by third-party aggregators and other nonbanks including switch operators. Major participants in the space are Cellulant, Flutterwave, Paystack, Systemspec, WebPay, Paga, etranzact, Quickteller, and Payarena.

The viability of Nigeria’s tech industry keeps growing. With five out of seven of the continent’s tech unicorns, Lagos remains the top destination for investments going into what has been dubbed “Africa’s Silicon Valley.” Accounting for over a third of the continent’s tech investment in 2022, Nigerian fintech start-ups raised over $1.3 billion in 2022 out of the $4 billion invested in Africa. The United States remains the leading source of investment, with nearly 60 percent of all fintech investment flowing into Nigeria.

Smart mobility and last-mile logistics is another part of the tech ecosystem that has gained some popularity. Following the launch in Nigeria of Uber’s ride-sharing service in 2014, several other models have been introduced and adopted, including motorbike-hailing services. Smart mobility is a disruptive market force in the global transportation technology sector.  There are huge prospects for the vehicle technology industry in Nigeria, especially within the automotive aftermarket space including GPS navigation systems, telematics, mobile electronics, camera systems, security control, and tracking systems.

Opportunities

There are several investment opportunities in Nigeria’s diverse information technology sector for U.S. investors. Nigeria’s cloud service market terrain is still nascent as there are only a few participants currently involved in enterprise-grade deployments. Industry analysts see activity increasing for partnerships, as well as equipment sales and technical services. Also, the digital financial services and financial tech sector is continually evolving with new participants and product launches. This is spurred by both government policy to promote a cashless economy and the high number of digital natives in the ecosystem. 

Additionally, there is huge potential in the country’s fiber optic and broadband market given the continued expansion of Nigeria’s international submarine cable system. The landscape currently has a combined overall capacity of over 40 terabytes with other projects proposed to be launched soon. Further opportunities may be explored in the satellite internet and television white space (TVWS) segments as the roll out of terrestrial fiber across the country may not provide the much-needed nationwide coverage, hence the need for alternative technologies. U.S. information technology companies, original equipment manufacturers (OEMs) and internet service providers (ISPs) may also consider the emerging needs for supply of required devices (antennas, solar kits, cabling, diverse range of wireless communication, and radio products for high-capacity data and voice delivery) in this space. 

The Nigeria Startup Act initiated by both the Presidency’s Office of the Chief of Staff and Office of the Minister of Communications and Digital Economy was signed into law October 19, 2022. The Act oversees policy guidelines and regulations in the Nigeria tech space and aims to create a conducive environment for Nigerian startups to launch and scale products, attract foreign capital, and prevent setbacks from events that have occurred in the past like the ban on cryptocurrencies.

In 2020, Lagos State began their Smart City implementation, a that project entails the deployment of metro-fiber infrastructure, intelligent transportation systems, and digital workflow systems for the state government. In a bid to drive further civic digitization and technology outcomes, Lagos state signed an MOU with Microsoft in December 2022 to partner in technology development. This agreement will see Lagos leverage opportunities on Microsoft’s Azure cloud platform to develop technology solutions in the healthcare, education, and energy sectors. Additionally, Lagos and Microsoft propose to explore technical collaborations in data Analytics, machine learning, artificial intelligence, and privacy solutions.

Though Nigeria remains a major ICT powerhouse on the continent, there have been reports of a recent slow-down of the sector caused by rising exchange rates and constrained access to the foreign exchange necessary for the import of inputs. Downstream effects include foreign exchange scarcity, wide disparity between the dollar and the local currency (naira), impacted investment, and increased cost of equipment procurement.

There has been ongoing debate regarding the Nigerian government’s plan to regulate the use of social media. Nigeria currently ranks 120th in the 2021 World Press Freedom Index, down from 115 in 2020.

Significant and frequent policy shifts in Nigerian government’s positions toward ICT are common. Ride hailing services including Uber and Bolt have continued to face threats of stiff regulations in some of the country’s regions. In 2020, Lagos state government, citing safety and security concerns, imposed a ban on the budding two-wheel ride-hailing platforms – Gokada, Max.ng, and ORide. These firms were banned from operating in the city’s central commercial and residential areas. Most of the affected operators now focus on deliveries and other logistics businesses.

In February 2021, the CBN cautioned all banks and financial firms against facilitating the use of cryptocurrency and reminded them that “dealing in crypto currencies or facilitating payments for cryptocurrency exchanges is prohibited.” CBN’s notice also required all recipients to identify persons operating crypto exchanges and ensure their accounts are closed immediately. After sustained chaos in the crypto market, the CBN clarified that the notice did not constitute a total ban, nor was it meant to discourage people from trading cryptocurrency. Instead, the Bank argued, it was merely reiterating a pre-existing ban on banks facilitating crypto transactions that was implemented in 2017, and which was part of the government’s drive for Nigeria to become a cashless society. Nigerians, however, still remain among the most active cryptocurrency traders in the world. In June 2021, the Nigerian government imposed a ban on the use of Twitter in the country, accusing the site of not curtailing content from a successionist movement. Media reports connected the ban to the company’s removal of a post by the President. Twitter’s service was restored in January 2022 with a requirement to appoint a local representative, register with Nigeria’s Corporate Affairs Commission as a legal entity, comply with tax obligations, and abide by regulatory and legal demands. This injunction also applies to other interactive computer service platforms and internet intermediaries.

Local Industry Events

• Digital Africa Conference; Location: Online ( https://www.digitalafrica.com.ng/ )
• NigeriaCom Conference; Location: Online ( https://tmt.knect365.com/nigeria-com/ )
• Social Media Week; Location: TBD ( https://www.smwlagos.com/ )
• Nigerian Communications Commission

For further sector information, e-mail: Ambrose Thomas, Commercial Specialist, U.S. Commercial Service, Lagos, Nigeria at: [email protected]  

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How to Write a Business Plan in Nigeria

• Startup Businesses , Career Development , Business Financing

Thinking about how to create a business plan for your small or medium sized business? Learn how to write a business plan in Nigeria from the professional business plan consultants. Most Nigerian entrepreneurs and companies do not have or implementation business plans when starting or growing up their businesses. They perhaps believed that business plan is just a document or paper that will not give them the most need capital to scale up their business ideas or investment.

Of course, a business plan is a written document that describes a business, its products or services, strategies and procedures on how it will galvanize it scarce human and material resources in a day-to-day operations in order to make profits. A business plan would contain everything a reader may want to know about your business , starting from the title page, the executive summary, the company description and to the appendix page.

Our accounting and taxation consultants can fill tax returns for your business, project your capital expenditure budgets and compose other business development and small business administration (SBA) or legal documents that set-up your business in the right way to success. We provide business profiling services such as writing of your Vision and Mission Statements , brand positioning statements, employee handbooks, and provide web designing , corporate branding and packaging services.

4 Reasons Why you need a Professional Business Plan in Nigeria

#1. it helps you prioritize your business goals.

When you setup and go into your own business without proper business planning and research process; they end up investing in a business for the wrong reasons.  And before the first two to three years, they would be forced to close down. Why?  Because they believed that writing a business plan would not stop the money from coming as they expected, until they ran into management or business ownership crisis.

#2. It Helps You Avoid Initial Startups Mistakes

To help business executives avoid failures in the future, we develop winning business plans that prioritize your company deliverables right from the start-up stage and meet all your business needs. This will help us build a sustainable leadership culture and business structure for you.

#3. It Provides Go-to-Marketing Insights and Strategies

While there a lot of steps involved in starting a business; these can be overwhelming to any small business owner and startup entrepreneurship. Connect with best business plan writing professionals in Nigeria who understand the Nigerian consumer markets and viable business environments. We offer valuable assistance to bring your brand products and services into reality.

#4. It Provides Answers to Your Startup Questions

Many Nigerian entrepreneurs who have brilliant business ideas usually ask us these important questions and here are some of our answers:

• Why do I need a business plan to start my business in Nigeria?
• Do you write business plans for new business or existing businesses?
• How much does it cost to write a good business plan in Nigeria?
• Can I use my business plan to get a business loan from the banks?
• How can I use my business plan to secure new investors for my business?
• Can you create free sample business plans for my type of business?
• How long does it take your company to writer winning business plans?
• Can I get full script or hard copy of the written business plan from you?

How We Do Expert Business Plan Writing in Nigeria

Asking what is the cost of writing a business plan in Nigeria? Well, most professional business plan experts would charge between ₦100,000 and ₦250,000 Naira for fully researched business plan writing services. We create custom business plan that is specifically developed for your business industry from the scratch.

Asking about free business plan samples, we offer easy to use pre-written business plan templates at affordable prices. If this is what you want, such samples will help you organize your unique business idea and set out an amazing business plan for your sole proprietorship business, enterprise or limited liability company.

Asking if you need a business plan for new and existing businesses? the answer is YES! We build successful business plans for all kind of businesses; be it beauty salon business plan, pharmacy shop business plan, wellness and transportation industries, hospital business plan, travel and hotel business plan, agriculture business plan and fish/poultry farming business plan.

When creating a business plan with us, you will get a top notch business plans for food processing and supply chain businesses, fashion design, café and restaurants business plan, automobile mechanic and car driving school business plan, fintec business plan, waste recycling and water treatment and ICT business plan, print shop business plan, event planning, supermarket and ecommerce retail business plan.

When preparing to write a outstanding business plan that fits your business objectives, we conduct industry research, carry out competitor analysis and include our carefully crafted parameters in your business plan format . We consider how to write the Executive Summary that will capture the attention of your target audience. Base on our target market analysis and your input, we write Company Description, the Business Organization, Management Structure, and Product Line or Company  Services.

Our marketers know how to package your startup business ideas on your business plan documentation in order to help you get that nodes and supports you need from potential investors or financial institutions. We design professional websites, marketing plan and employ qualified accountants who can use the available figures and market findings to calculate your business funding requests and future cash-flow financial projections ( whether in the next three or five years).

As Lagos based corporate branding and business plan writing company in Nigeria , we help business individuals and companies to plan and develop their businesses from business proposal to business plan writing, project feasibility studies and target market research. We offer business SWOT analysis, booking accounting services , and investment management software development.

Contact us for more free business advisory services or information on how to write a business plan in Nigeria.

Related: How to Start a Business in Nigeria 

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Comments (4)

I need a professional business plan for my new pharmacy company. What is the cost of writing a good business plan form me?

Please contact us today to request a quote.

Please am starting up a seafood business in Nigeria, I need help with a sell out business plan. How do I achieve that

I can help you write a compelling and comprehensive business plan.

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INFORMATION AND COMMUNICATION TECHNOLOGY AND BUSINESS EDUCATION IN NIGERIA

Technological change and globalization have created a new global economy with Information and Communication Technology (ICT) occupying a complex position in relation to globalization. The emergence of this new global economy has serious implications on the nature and purpose of educational institutions. The paper is basically a theoretical discourse. Data for analysis were obtained from secondary sources. The paper found that significant challenges confront the integration of ICTs in education in the areas of educational policy and planning, infrastructure, language and content, capacity building and financing in Nigeria. The paper concluded that business education needs to be well equipped to anticipate and respond to opportunities created by ICTs in order to participate productively and equitably in an increasingly technology-rich and knowledge-driven world. The paper recommended, among others, that the investments in ICTs should be used to promote the development of basic skills, problem-solving and communication skills and the professional development of teachers.

Related Papers

Muhammad Muhammad Suleiman

Information Technology (IT) increasingly becomes enablers of change in all aspects of human endeavour, particularly education. IT is very relevant to the objectives of increasing Business Education students’ participation in the educational processes and of promoting life-long learning. This paper attempted to discusses the concepts of IT and how IT tools, such as computers, projector, e-learning, video conferencing, multi-media and other audio-visual equipment that can be used for teaching and learning of Business Education in Nigerian Colleges of Education. Among others, this paper recommends that government should release more funds to train and retrain of teachers as well as recruitment of adequate personnel, both teaching and non-teaching staff also government should release funds for purchase all essential IT resources and networking the entire Colleges of Education in the country. Keywords: Information Technology, Business Education, Computer

IOSR Journals

Information and Communication Technology (ICTs) occupies a complex position in relations to teaching and learning of Business Education in Colleges. The emergence of ICTs has serious implications on the nature and purpose of educational institutions. The researcher is basically concerned with academic performances of students if ICTs is used as a tool for teaching. Data for analysis were obtained from a test given to the students in both experimental and the control groups. The data was analyzed using Pearson moment correlation coefficient and t-value was also used for the test of significance. The researcher found that significant value was obtained between the experimental and the control groups. The researchers concluded that business education needs to be well equipped to anticipate and respond to opportunities created by ICTs in order to enhance academic performance of students. The researchers recommended, among others, that the investments in ICTs should be used to promote the development of basic skills, problem-solving, communication skills and the professional development of teachers.

Zaira Hassan SBBU-SBA

Professional Development in Education

Professor William J . Ubulom

Johnny Ogunji

Wokocha Da-kaladokubo

The study examined the Information and Communication Technology (ICT) challenges encountered in teaching business education in Rivers State tertiary institutions. The research adopted a descriptive survey design. Two research questions and two hypotheses were posed to guide the study. The population for the study was 99 Business Education lecturers and the sample size was 70 Business Education lecturers that was randomly selected from three selected tertiary institutions in Rivers State, namely; Rivers State University of Science and Technology Port Harcourt (RSUST), Ignatius Ajuru University of Education (IAUOE) and Federal College of Education (Technical) Omoku (FCET). The Instrument used for data collection was a structured questionnaire titled " ICT Challenges in Teaching Business Education Questionnaire " (ICTBEQ). The reliability of the research instrument was obtained using test-retest method, the Pearson Product Moment Correlation coefficient of .87 was obtained. The instrument was validated by two experts from the department of business education, Rivers State University of Science and Technology. All 70 copies of the questionnaire were retrieved and analyzed using mean for the research questions and analysis of variance (ANOVA) for the hypothesis at .05 level of significance. The results obtained indicated that business education lecturers are yet to fully apply ICT facilities in teaching and this is as a result of the challenges confronting its application. Thus, it is required that both government and relevant stakeholders must come together to put in place the necessary ICT facilities in order to improve its use in teaching business education.

Prof. Amaka U Okeke

The need to ensure quality in business education towards enriching graduates' competitive ability in the global workplace of the current era necessitated this study on assessment of information and communication technologies (ICT) utilization for quality in business education programme in universities in SouthWest Nigeria. Two research questions guided the study and three null hypotheses were tested. Descriptive survey research design was adopted for the study. Population was 550 (52 lecturers and 498 final year students). Purposive sampling technique was used to draw a sample size of 302 (all 52 lecturers and 250 students) for the study. A five-point rating scale questionnaire containing 24 items in two clusters which was validated by three experts was used for data collection. A pilot study was conducted involving 30 (10 lecturers and 20 students) of business education from universities outside the area of the study to establish the reliability of the instrument. Data collected were analyzed using Cronbach alpha and coefficients 0.85 and 0.82 were obtained for the two clusters with an overall reliability coefficient of 0.83. Mean and standard deviation were used to answer the research questions and ascertain the closeness of the respondents' views while z-test was used to test the hypotheses at 0.05 level of significance. Findings revealed a small extent utilization of ICT resources by the subjects, status and institution ownership significantly influenced the respondents' mean ratings but gender did not. Based on the findings, it was concluded that the training of university business education students in southwest Nigeria is not adequate to give them competitive advantage in the global workplace of the current information age which is powered by ICTs. Therefore, it was recommended among others that management of the institutions should ensure adequate provision of ICT resources and sponsor their business education lecturers to retraining programmes to enhance their effective utilization in order to equip the graduates with relevant competencies for the 21 st century global labour market demands.

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How To Write A Business Plan In Nigeria (Free Samples And Templates)

This post concludes is the last of the series on “How to write a business plan” . The major challenge when it comes to writing a business plan is knowing where to start from. This most business owners and entrepreneurs don’t always get right. Looking through existing business plan templates gives a clear picture of what your business plan should look like.

This post contains a long list of free sample business plan templates that will give you the easy start you really need to write your own business plan.

1. Catering Business Plan

If you love to cook and are thinking about starting a business, combine the two and start a small catering business. But how do you start a small catering business? It’s by having a great business plan detailing every aspect of the business before you get started.

2. Event Planning Business Plan

Starting a catering business in Nigeria is a lucrative business with very good returns, with thousands of events and parties happening every weekend across the country. Event planning business requires a combination of education if necessary, an experience and excellent networking.

Also Read: How to Write a Business Proposal for Clients in Nigeria.

3. Hair & Beauty Salon Business Plan

Salon Business is one of the best and lucrative business in Nigeria right now because it does not cost much and requires little capital to start. Either a barbing salon or beauty salon for women pay a lot because it requires no college degree to start one but skill.

4. Day Care & Child Care Business Plan

Many Nigerian mothers are working at paid jobs or running their own small businesses which consume most of their time. As a result of this trend, there is a growing opportunity for convenience services like child and day care center businesses.

5. Driving School Business Plan

Are you an expert driver? Can you successfully teach others how to drive? If yes, you may be qualified to start a car driving school. There is a great opportunity in this business because most Nigerian are looking forward to owning their own cars. School leavers are also eager to learn how to drive.

6. Agriculture Farm Business Plan

Nigeria is blessed with a favorable soil and climatic condition that can accommodate crops such as onion, carrot, cocoa yam, pear, potatoes, okra, vegetables, beans and so much more. Starting an agriculture farm business is a profitable business opportunity with so much market to serve.

7. Feed and Farm Supply Business Plan

The feed farm production industry has been largely promoted as one of the most profitable agribusinesses to venture into. Africa, especially Nigeria, has a major impact on the worldwide production and distribution of livestock feed.

Also Read:  [PART 1] How to write a business plan – Tips when writing your business plan.

8. Fitness Gym Business Plan

Health they say is wealth; the need for health is the need of all both young and old, both for the rich and the poor alike. Would you like to invest in the fitness business, or are you thinking of a business to invest in? You should consider this business option.

9.Pharmacy Business Plan

Pharmacy or drug store business, whether we like or not, has become an integral part of the Nigerian economy today. In a nutshell, drugstores are described as retail establishments that market drugs, be it prescription-based, proprietary, or nonprescription medicine.

10. Fast Food Restaurant Business Plan

The fast-food business in Nigeria is a very profitable business. Food is something we cannot do without even if it’s once a day. The growing population of Nigeria with over 180 million people is also a high contributing factor to the profitability of fast food business in Nigeria. Amidst the current global crisis, one line of business in Nigeria that continues to promise greater returns on investment is the fast food business.

11. Bakery Business Plan

The consumption of bread and other bakery products such as biscuits, chin-chin, gala and meat pie among others, has created a huge market for the wheat flour industry. This sector has provided a lot of opportunities while more opportunities are still open for interested investors that are willing to invest some cash.

12. Internet Cafe Business Plan

The demand for internet cafe services in Nigeria is high especially in business enabled environments like tertiary institutions, offices and in different work areas. This business is one of the profitable medium scale businesses in Nigeria; the business can give a high-profit margin when managed properly.

13. Clothing Boutique Retail Business Plan

Starting your own clothing shop boutique is a good business idea in Nigeria because the fashion industry is one powerful sector that will always be vibrant in any economy because all over the world, people have a basic need for clothing. Beyond this need, fashion is also evolving on daily basis due to the huge and diverse interest in styles.

Also Read: [PART 2] How to write a business plan – Basic template contents & structure.

14. Automotive Car Repair Business Plan

Nigeria is and will always be a big market for cars, both used and new ones. Compared to other African countries, Nigeria alone spends up to $5 billion dollars every year importing vehicles (especially second-hand) from the USA, Canada, Europe, and Asia. Which makes the industry an area worthy of investing.

15. Car Wash Business Plan

The good aspect of this business is that it does not necessarily require a large amount of capital or funding especially when you intend to start. For those who have enough money to invest, this will be a good decision as with more money invested, the business can grow much better and faster leading to better and profitable returns.

Other business plan samples and templates include;

16. Used Cars Sales Business Plan.

17. Online Print Shop Business Plan .

18. E-commerce Retailer Business Plan .

19. Coffeehouse Business Plan.

20. Night Club Business Plan.

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Business Plans Nigeria free PDF Docx Download

Business plans nigeria free pdf docx download:.

In this post, samples of free business plans will be provided for users for free download and use. You can download and use the Business plan to give a prototype of business you are thinking about. Or even for the sake of assignment for those that want to submit a school assignment.

Whatever you are planing on doing with the business plans, this post will help out with some random samples that you can check out.

So you can also come up with your own unique type. Business plans may come in different formats. All depending on the individual behind it. But, generally, business plans take the form of a general introduction of the business, location, description of the business, body, implementation, target market, pros, cons, expenses, challenges, tactics, competitions, profits and conclusion.

Therefore, if you are writing a business plan for proposal or just to have a glimpse of what the business might entail. It is important to have one two of the elements listed above or even more.

Most times a comprehensive business plan will give you an overall view of the whole business which generally serves as a guide for starters to have an idea of what to come.

Business plan helps not to deviate from the main business idea. But, to focus on the plan. As the general saying: “When you fail to plan, you plan to fail”.

Without further ado, here are samples of different free business plans for your perusal.

Business Plan List:

• Agro Business Plan
• Shea Butter Production Business Plan
• Restaurant Business Plan
• Cat Fish Business Plan
• Fabric Material Business Plan
• Malaria Business Plan
• Bakery Business Plan

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14 different types of business plan for you in Nigeria

• Post author: Ane
• Post published: March 27, 2020
• Post category: BUSINESS-PLAN-AND-FEASIBILITY-STUDY / Business Tips / Feasibility Study
• Post comments: 0 Comments

The need for business plan grows every day. This is actually affecting what we regard as types of business plan. Are you a business man or an intending business man? Do you want to succeed in your business? Do you have any business idea in your “Head” right now? Don’t worry, any of these 14 business plans will push them forward. Therefore, I present to you 14 different types of business plan you can develop and use. They are adaptable for any type of business. So, here are 14 different types of business plan for you in Nigeria

As a matter of fact, this write-up is meant to benefits business men and women, students, fellow professionals and the general public. In fact, every one of you is taken care of here. Just click to read on .

WHY NEED A BUSINESS PLAN?

Table of Contents

As a matter of fact, a business owner or prospective business owner needs a business plan to clarify each aspect of his business targets. These include describing the objectives that he/she anticipates will propel his/her business establishment or growth. Therefore, every savvy business owner writes a business plan to guide management and to promote investment capital.

Furthermore, every successful business organization uses good business plan to visualize organisational goals. It includes projecting how much money to invest in each step of the project development. In addition, it gets to know who does what and when the next expenses, first/next profit is to be expected.

In addition, having a business plan helps you find partners/collaborators or investors for the business. So, it helps you get a loan for starting o r developing the company.

14 different types of business plan for you in Nigeria – What Next?

Furthermore, now that you know why you need a business plan, here are the 14 different types of business plan you may need. I have been able to classify them into this 14 types because no two business plans are the same. Business plan is case sensitive. So, do not think you can copy from a friend or another business to use. In fact, if you are at such a cross road, please contact us on +234 34347851 or [email protected] . We are ready to help out at any time at a minimal cost.

The 14 business plans in Nigeria:

• Investment business plan
• Enterprise business plan
• A grant  business plan
• Industry and company Analysis
• Manufacturing/processing
• Service Offering business plan
• Start-Up Business Plans
• Export Business Plan
• Internal  Control Business Plans
• Strategic Business Plans
• Feasibility Business Plans/Analysis
• Operations Business Plans
• Growth Business Plans.

Do not be confused, you can still group these into Strategic plans, operational plans, internal plans, Lean Plans or specific project plan.

On the other hand, if what you need is the feasibility analysis part of the business plan only, do not hesitate to contact us immediate.

Click here for more business plan topics.

14 different types of business plan for you in Nigeria – BUSINESS PLAN COMPONENTS:

In this regard, depending on who your audience is, every business plan must contain some of these major components of business plan. Lean business plans don’t need all of them. These are:

• Executive Summary.
• Company Description.
• Product and Services
• Market Analysis.
• Competitive Analysis.
• Management Team
• Marketing Analysis
• Financial Analysis

Please Share for Us:

Finally, can you share for us? Help us in this our little way of helping the public out of our years of knowledge and experience. You know it’s costly to be a professional in a fiend of endeavour. Yet, the knowledge we dispense here is free. So, help us reach others. If you click any of our social media buttons you will do that. Like us on our Facebook platform for your good. These are 14 different types of business plan for you in Nigeria.

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.

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Key Business Plan Assumptions Template

Sample cleaning services company business plan, leave a reply cancel reply.