Still Running Away From One-Man Businesses?

by | Dec 21, 2018 | General | 0 comments

I do not have Nigerian statistics but I am certain there are huge similarities between our business structure and that of the USA.

According to Michael Gerber, 98% of all businesses in the USA have 20 employees or less. 90% of those have less than 10 employees, and most have less than five employees. Today, 67% percent of all companies in the U.S. are sole proprietorships, or one-person operations.

I suspect Nigerian statistics will be similar to the USA in terms of number of small businesses (98%) but higher (upwards of 95%) in terms of the % of one-person operations.

Sadly one-man businesses face a lot of challenges that make them unattractive. A lot can benefit from help from private sector and Government initiatives.

Many job seekers tell me they don’t want to work for one man businesses. I hear this all the time and I see people outrightly reject opportunities in one-man operations. However, the statisitcs tell us that most jobs are in the dreaded one-man businesses. So fate will have it that to close the unemployment gap, majority of job seekers will need to rethink their job seeking strategy. Not a preferred option by most but the data states the reality of the situation.

Share this Post:

Recent Posts

I Tried ChatGPT

I Tried ChatGPT

Chat GPT reminds me of those people you ask for directions that aren't sure, but in their bid to be helpful, they confidently lead you in the wrong direction.Ever happened to you? My husband always...


Submit a Comment

Your email address will not be published. Required fields are marked *