Doing business in developing countries! right or wrong.

[CALVINDOL]

Not all countries of the world are considered to be developed because presently we still have developing and underdeveloped countries some of which exist in areas of Africa mostly West Africa. But even with that in most developing and underdeveloped countries there are still businesses existing in them in one region to another region. The country Nigeria which is one of the countries residing in West Africa is basically considered to be a developing country and in fact it is considered that two-third of the countries population is occupied by businesses as a result of the high rate of unemployment existing in Nigeria presently. A foreign investor might want to establish a business in Nigeria but before doing so he or she is expected to carry out considerable factors to determine whether it would be good to establish a business in a developing country like Nigeria.

Nigeria itself is a very richland in all forms of mineral resources or raw materials, but the only thing is that our leaders and those whom we the citizens look up to and misusing the country's wealth and resources. As a foreign University developing a business in Nigeria can be a good idea since it will aid in creating local employment for the people, and most importantly, you may be granted tax incentives by the government despite being a foreign investor. You can also get access two large rate of labour in a country like Nigeria that is because 90% of the country's population, are unemployed.

 

[Holicent]

My first point is that, as a general rule, a multinational corporation or business should not do business in developing countries unless it has a reasonable expectation of making money out of it. If this is not the case, then it will probably not be willing to invest too much in the country. In fact, in many cases it may prefer to invest its resources in other parts of the world where there is more potential for future returns (but where there are also higher risks).

Second, if you want to do business in developing countries, then you need to know what you are doing and how to achieve your goals. The best way of doing this is through experience and hard work; but if this doesn't work then there are plenty of ways which can still get results without great effort (for example, by using technology).

Finally, if you want your company's name associated with something positive then try to make sure that what you are involved with does have some sort of long-term benefit for society (rather than just short-term profits for shareholders).

 

[Jasz]

There are so many things that you can do in developing countries. You can start a business, build a house, open a school and many other things. The first thing is that if you want to do business in a developing country then you should know very well about the laws of that country. The laws of that country will be different from ours and there will be some rules or regulations which will make it difficult for businessmen to operate their business in this country.

Second thing is that if you want to operate any type of business then you should also have proper knowledge about the market conditions in which your business is going to operate and also how much profit the company is going to generate on average per month.

Third thing is that if you really want to operate your business successfully then you should have proper accounting system in place which will help you track all your expenses properly and also generate correct reports on daily basis so as to keep track of all your profits/losses at every stage of time.

 

[moonchild]

As an entrepreneur just starting out, being in a developing country provides you with a lot of opportunities that you otherwise won't have, you will be able to test many businesses because there isn't much laws around starting a business, there are several odds in your favor if you play the card well.

In a developing country, labor is very cheap and you will be able to hire people for a little amount of money, because most developed countries are plagued with unemployment, there are different and many ways you can actually benefit from it, I believe that whatever way you choose to base your own thoughts that is what will eventually become through.

There are many people in developing countries who thinks they are been served a bad hand because the infrastructure isn't working and there are not enough capital loans they can get to kick start their ventures, to me they are just excuses.