Tips on doing business with Nigerian business partners
|December 17, 2012||Posted by Vishal under Nigeria Visa Application||
What you will need to know first of all, that is after you have arrived and settled in the country on a Nigeria business visa, is how to establish honest and reliable business contacts?
Getting a reliable business partner in Nigeria is probably just as important as obtaining your Nigeria visa. Yet, finding a local partner who is just right for you is a great deal more decisive. One of the gravest risks you could be possibly confronted with does not involve getting stuck with a business partner who may be fraudulent, but it’s rather the one who is less effectual. Unfortunately, that’s a calculated risk you would be forced to essentially accept, regardless of what country you chose for doing business in. What you can do with any degree of certainty is making sure that whoever you decide to pick as a potential business partner has been recommended through someone who is both known as well as trusted by you.
If this sounds confusing, wait till you have to deal with total strangers. For that you would need to carry out accurate research of companies and people that you intend to deal with and act cautiously and sensibly in reaching desired conclusions. The Nigerian Investment Promotion Council as well as the Nigerian Trade Commission in your locality will be glad to offer you screening services for validating authenticity of various companies that you intend to deal with.
Upon successfully obtaining your Nigeria visa, your next step should be suitably setting your business up there. And once ready to go, you will need to do the following:
- Proceed to authenticate potential candidates as proposed business partners from people that you may know or through approved local channels.
- Abstain from the practice of bribery.
- UK citizens should avoid travelling in the region of Niger Delta, especially in absence of appropriate security arrangements organized by their respective hosts in Nigeria.
- Remaining calm and building up long lasting relations as well as mutual trust with your Nigerian business partners is the sole key to achieving success.
- As far as possible, abstain from inter-state travel by road. Arik Air and Virgin Nigeria are reliable and recommended mode of domestic travel.
- Be extra cautious of sensitivities concerned with religion, especially in Northern parts of the country.
- Visit Nigeria to establish contact with your local partners. It is unwise to expect business success in absence of efforts targeted at establishing good relations.
- Don’t encourage unsolicited faxes or emails that suggest unjustifiable financial gains
- Don’t encourage unsolicited faxes or emails that request spurious assistance or cash
- Don’t disburse money against surety of receiving repayment
- Don’t disburse cash against cheque payment
This post was written by Vishal Mavadia, Business Director Visa Services London.