An unfortunate truth is that many businesses fail within their first five years of operation. Oluwaseyi Kehinde-Peters explores why and how SMEs can move beyond their formative years.
Reading Time 5 minutes
Growing up in Lagos, Nigeria, business strategist and social entrepreneur Oluwaseyi Kehinde-Peters couldn’t help but notice the stark contrast in the lifespan and growth trajectories of domestic start-ups versus foreign businesses.
As a hub of investment and entrepreneurship, Lagos witnessed new businesses sprouting up daily, but sadly, many of them fizzled out before they could make a significant impact. Kehinde-Peters observed that domestic companies and entrepreneur-led businesses typically disappeared within five years, while multinationals and foreign businesses with similar business models seemed to be thriving for many years. This got her thinking about the reasons behind the contrast, leading her to pursue an MBA at the University of Bradford in 2013 to unravel the mystery.
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