10 Ways N10000 Can Help A Trader Or Small Business Owner

There has been a lot of talks about how impactful the N10, 000 one of the social investment programmes of the Federal Government, Trader-Moni has on the traders. The programme undertaken by the Bank of Industry which provides an opportunity for petty traders to have access to cash to help their businesses has threw up divergent views on how useful such an amount as N10, 000 can have on any of the traders.

Here are 10 Ways N10000 Can Help A Trader Or Small Business Owner:

1. If the trader sells Pure Water, he can buy 83bags of pure water. If he chooses to sell per bag at say N150, he will make N2490 on the N10, 000 invested but if he chooses to retail it he will make N6,640 (N80 * 83bags) on the N10,000 invested.

2. If the trader operates a barbing shop, he can buy a brand new clipper to support the old one he has been using for years and that’s efficiency and you can tell that customers will be delighted, plus he can afford to do home service while his boy stays in the shop to take care of other customers.

3. If it is a "business center",the business owner operates, he can get a CPU for as low as that N10, 000 or fix his aging printer or photocopier with new ink to make the work sharper; that's a new customer experience, isn’t it?

4. A Tile cutter machine 12inches, 300MM costs N6, 000. That is far less than what his required by the Tile cutting professional to add to his equipment or even start one- do the analysis yourself

5. Take a look at an average cobbler who fixes your shoe and collects N100 and above, how much do you think all his materials will cost, your guess is as good as mine, it’s definitely less than N10,000

6. Let’s talk about the smoked fish seller, with N10, 000 that’s more Titus or Panla to smoke to delight her customers, she won’t have to tell them fish is finished before 10pm again.

7. How about that retail bread seller you quickly run to when you can’t visit your favorite fanciful bakeries to satisfy your appetite for the popular baked flour. Her total stock in a day I can bet is less than N10, 000. I f she gets this amount you can tell she can either add more bread or add other complementary goods to what she is presently selling.

8. Oooh! My favorite Suya merchant will definitely not agree with you that N10, 000 can’t do anything. Hear him speak “What? Walahi…. you give me N10, 000, my friend I go give you Suya “tasting” everyday” That’s to show the impact such investment can do to his business.

9. How about that lady or guy that does Recharge Card Business, do you know how many network N10, 000 can buy and the profit can be made from it?

10. For those who patronize relaxation spots or using the term on the street, “beer parlor”, N10, 000 will definitely buy more than 2 Crates and by the time you take your favorite brand with your usual Pepper-soup with Nkwobi, you will be willing to pay more and even leave change.

I could go on listing many things N10, 000 can do, but I believe those already mentioned is more than enough to make you see how far reaching the impact can be for an average trader on the street.

Far more than these, government now has verifiable record of traders in those markets visited and there is a requirement to open an account going forward -that is core data of a vital sect within the Nigeria business environment. These traders will be encouraged to start paying their taxes as at when due, and that’s more in the government coffers in the long run.

The truth is we can’t all be traders but those that are can enjoy this token by government and can get more if they return this N10,000 given out to them.

Rather than castigate this social investment programme, I think it’s time we all throw our weight behind this big support for a vital section of our growing economy.