Why Most Businesses In Africa Never Last For More Than 5 Years

Posted by: lukwago J in Business August 29, 2022

I have noticed that most people who call themselves business people in Africa are not actually entrepreneurs but opportunists who are just scouting for opportunities. This is the reason why most so-called businesses never last for more than 5 years.

It’s either the person is depending on political power connections or depending on a relative who has power and authority in a certain organization. This is the reason why you find most African entrepreneurs spending more time trying to connect with powerful people so that they may use such opportunities to gain themselves.

Most companies are created after one has heard that the government is going to offer tenders for a certain service or after a manager relative from a certain organization has information that we will need some services. Now the danger of such an arrangement is that, once the source of power is removed, that will be also the end of the company.

It doesn’t matter how long it may take but eventually, it will come to an end. That’s why people are failing to build companies that may continue to exist even when they are gone.

Businesses should be based on long term vision.

A company must be built on a strong foundation of good moral business ethics. This will give a long-term vision supported by systems that will protect the company and its assets.

The government will come and go, people will come and go, and opportunities will come and go. However, if businesses are based on a long-term vision, they will surpass all the calamities that may come along the way.

If you ever see yourself looking for opportunities without a plan then you are not an entrepreneur but an opportunist. Don’t get me wrong, there is nothing wrong to take opportunities when you see them. But it should not be at the expense of others. It must not be the main goal to wait for opportunities.

It must not make you lose morals. Ask yourself, are you an opportunist or an entrepreneur?

By B. Marambire

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