“Tips on How to Beat Recession” Nathaniel Bivan, Daily Trust, 28 January 2014

“You cannot spend your way out of recession or borrow your way out of debt”

The Nigerian Government has been facing turmoil due to the current economic recession. The Federal Government has unveiled various ways to overcome the recession & how to restore growth & reposition to the country’s economy. People are shallow minded to the extent that they feel the only source of income is from professional courses, never realising that those little ideas or hobbies could generate into something big. Every journey begins with one step. They encourage starting small, maintaining low cost equipment & discovering the best way to stand out. Secondly, selling expertise on the side is another way to beat recession. Some people out there are handy, good in one little thing or the other. There is nothing wrong with letting people know they can reach out to you with a cost attached to it. It is obvious, that in some cases there would be an affordable one. Putting up various sign posts at various places which usually costs nothing so people can solicit your services. You might not be handy, but really good with words, selling those ideas help plug those income holes, which may be one of the best ways to bounce back in this current economy recession. Also cutting down on liability expenses & unnecessary luxuries and finding ways to plough back greater income. Another way is moving business ideas to land focusing less on imports. Subsistence farming & commercial agriculture is no longer for a particular class of people anymore, Even elites venture into it. Furthermore, meet a need. Meeting a need is one of, if not the ultimate reason for starting a business. Small communities always have needs if one has a keen eye for fresh opportunities. If all these is considered a lot of change will happen.

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“Tips on How to Beat Recession” Nathaniel Bivan, Daily Trust, 28 January 2014


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