Since the reactivation of cashless policy in Nigeria, it has brought a lot of instability and confusion in the economy. This has affected a lot of SMEs who depend on cash for daily business transactions.
These tips below will help a small or medium scale business owner to navigate through this hard economic time.
1) Break the barrier. This is the time tembrace technology and stop limiting your self. Install that bank app on your phone right now and learn how to operate it. In case you don’t have Android phone, learn mobile banking. That is, how to use Bank USSD codes to make transfers. It is very easy. You can do it.Also, ask for help from your bank if needed.
2) Flow with the tide and never loose a sale because of cash crunch. It is a pity how some people loose sales these days by claiming they don’t have bank account. Someone is eager to buy from you, but because he/she wanted to transfer due to unavailability of cash, you refused by claiming you don’t have bank account? If you don’t have bank account, please go and open one today. It is not costly to have one.
3) Don’t take it personal, your mental state is very important. We are all in this mess together, so sis be calming down. If we were able to survive covid-19 tsunami, be sure this will also pass.
Love you all. Stay safe
Written by Jane Nnadi