As we approach the third quarter of 2024, businesses start assessing their performances, and many consider scaling and expanding their operations. With rapid changes in technology, consumer behavior and market dynamics, it's crucial that businesses constantly adopt innovative strategies to remain competitive and achieve sustainable growth within their industries. So, businesses looking to bring themselves to the next level have a few different strategies they can use to achieve long-term growth. 1. Embrace digital evolution In today's fast-paced business landscape, embracing technology is not an option but a necessity. Small businesses can use it to their advantage to help streamline…

Manufacturers of fast-moving consumer goods, FMCG are in dire agony over the continued rise in unsold goods in their warehouses, a development which would lead to a further significant decline in output level in the sector.The continued rise in unsold goods is caused by two factors namely the rising cost of living and the declining purchasing power of the citizens. Financial Vanguard’s findings show that due to the downturn in the consumers’ disposable income, the stock of unsold goods for manufacturers in the fast-moving consumer good, FMCG, sector of the economy rose Year-on-Year (YoY) by 27 per cent during the…

There's no one-size-fits-all approach to promoting businesses, but there are strategies that can be used based on a business's unique needs. This CEO shares four effective and practical ways to promote SMBs. Businesses in any industry invariably encounter marketing and advertising challenges. In the U.S., small to medium-sized businesses (SMBs) wrestle with the top challenges of budget constraints and lead generation. Difficulties also arise when it comes to returns on investments (ROI), expertise and competition. In the AdTech sector, content creation, data privacy and ad fatigue are marketing pain points. There's no one-size-fits-all approach to promoting businesses, but there are…

The Director-General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, has raised concerns that rising insecurity is compelling many manufacturers to cease operations. In a recent television interview reported by Thisday, Ajayi-Kadir disclosed that manufacturers are spending more on security than on government taxes. Ajayi-Kadir also cited multiple taxation and high energy costs as significant challenges for manufacturers in Nigeria. He urged the federal government to mitigate the unintended consequences of its reform policies to improve the competitiveness of the manufacturing sector. “Insecurity is a major challenge. We have lost between 56 to 60 percent of our members in…