The Cost of Staying Small: Why Growth Stalls for Most Nigerian MSMEs
Many Micro, Small, and Medium Enterprises (MSMEs) in Nigeria start with great enthusiasm. Founders invest their time, resources, and energy to launch a product or service that fills a gap in the market. But after two to five years, many of these businesses hit a plateau. Revenue stagnates, the customer base doesn’t grow, and operations remain stuck at a basic level.