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SURVEY On Identifying The ROOT CAUSES of BUSINESS FAILURES in NIGERIA
 
 
A: SURVEY PURPOSE
This Survey aims to identify leading causes of business failures in the country as an input to better planning and preparation by entrepreneurs and business leaders. The Country's Strategic National Infrastructure improvement initiatives and projects also stand to benefit from survey results

B: SURVEY DURATION
7 - 10 minutes

C: REWARDS
- All respondents shall receive the summary report of the survey on completion.
- Respondents shall also receive a copy of our e-magazine on Entrepreneurship and business profitability.
- Business Plan Develoment for 10 Respondents.
- Project and Risk Management Plans for 5 Respondents.
- These rewards are applicable to respondents who
express a need for Business or Project Management Plans. Recipients shall be selected randomly from all respondents. Preference shall be given to early respondents and those who turn in their completed survey forms before March 31, 2011.
- Are you interested in consideration for Business or Project Management Plan Development? YES/NO


D: CONFIDENTIALITY
Your survey responses will be strictly confidential and will not be revealed to third parties but only combined with many others in a summary data on the prevailing perception, experience and knowledge.

E: SURVEY ORGANIZERS Business Risk Solutions

If you have questions at any time about the survey or the procedures, you may contact the Survey Coordinator;

Pamela Chukwuemeka
Research and Development Unit
Business Risk Solutions
Website : www.business-risksolutions.com
E-mail - pamela@business-risksolutions.com
Tel: 07087814760, 01-7386851


 
 
Who referred you to this Survey? (Please Provide Name)
 
 
 
Contact GSM No of Referral:
 
 
 
 
SURVEY PART A : ROOT CAUSES OF BUSINESS FAILURE IN NIGERIA
 
1A.
In your opinion, which of the under listed factors contribute to the business failures in Nigeria (Select all that apply and indicate relative contribution to the business closure)
Major ContributorMinor ContributorNot a Contributor
- Poor Leadership in the country
- Poor/Expensive Power Supply
- Difficulty in company Registration Processes
- State or Federal Taxes/Levies
- Inadequate start-up Capital
- Poor Worker Commitment/Attitude
- Low Employee Skills/Competence
- Difficulty in obtaining loans from banks
- Tendency of Financial Institutions to overlook Start-Ups
- High Interest Rates
- Bad Roads/Poor Infrastructure
- Poor Business Management Skills
- Small Market size
- Influx of Cheap imported goods(Asia, Europe etc)
- Lack of reliable market data for proper planning
- Poor Market assessment prior to starting
- Customers not paying for goods received on credit
- Difficulty in tracking creditors
- Tribalism
- Low standard of Education
- High property costs
- Get Rich-Quick mentality
- Selecting the wrong location
- Poor product/service pricing mechanism
- Poor Legal framework
- Lack of unique ID for easy person identification/tracking(As in Social Security Number in advanced countries)
- Monopolistic practices by Heavy Industry players
- Importation of Substandard equipment & Materials
- Poor/Low value for business planning(Business Plans, Risk Assessments, Market Research, Strategy Planning etc)
- Difficulties in managing partnerships
- Bribery and Corruption
- Stealing in the workplace
- Invoice Fraud
- Contract Inflation
 
 
1B. Please give other reasons you think may be a major contributor to business failure
 
 
 
2.
Have you operated a business before?
 
 
3.
If your answer to #2 is NO, Do you plan to start or run a business someday?
 
 
4. In your opinion, what is the most important advise you may give anyone or group planning to start a start a business in Nigeria?
 
 
 
SURVEY PART B: CONSUMER PREFERENCE
 
 
5. Favourite Toothpaste *
 
 
 
6. Favourite Soft drink *
 
 
 
7. Favourite Food *
 
 
 
8. Favourite TV Show *
 
 
 
 
9. Favourite Car *
 
 
 
10. Favourite Movie *
 
 
 
11. Favourite Song *
 
 
 
12. Nigerian Hero (Someone who has demonstrated remarkable attributes, personality, value and impact to you and the community.He/She may not be widely known but this measure is based solely on your perception. Name the person who you think should be recognized or represent a role model for the Nigerian youth. You may briefly describe why you think he/she deserves commendation or recognition) *
 
 
 
13. Most Admired Nigerian Personality *
 
 
 
14. Favourite Politician *
 
 
 
15. Favourite News Broadcaster *
 
 
 
16. Favourite fast food outlet *
 
 
 
17. Favourite Quick Meal *
 
 
 
18. Favourite Radio Station *
 
 
 
19. Favourite Presidential Candidate *
 
 
 
20. Most Admired Political Candidate *
 
 
 
21. Favourite Sports Personality *
 
 
 
22. Favourite Mobile Cell Phone *
 
 
 
23. Favourite Laptop/Manufacturer *
 
 
 
24. Favourite Overseas Country(Infrastructure, Development) *
 
 
 
25. Favourite GSM Network *
 
 
 
26. Age *
 
 
 
27. Sex *
 
 
 
28. Name *
 
 
 
29. Email Address *
 
 
 
30. Location (Town/State/Country) *
 
 
 
31.
Employment Status *
Thank you for taking the time to complete this survey