The majority of small businesses in the informal sector, accounting for 42.7 per cent of small business owners, have been operational for less than five years, a new report has stated.
The sector which contributes to over half of Nigeria’s Gross Domestic Product has been faced with challenges of multiple taxation, and access to credit, stifling its growth.
This is according to the 2024 Informal Economy Report released by Moniepoint.
The…
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