We cannot overstate the importance of small businesses as they are the lifeblood of any economy. SMEs today account for the vast majority of business activities globally. They also play a significant role in employment creation and global economic development. In rising markets like ours, SMEs generate the majority of formal jobs however, we see many business owners pass through unbearable challenges when growing a small business in Nigeria.

As an SME, you are always on the lookout for innovative solutions to expand and scale up. At Fluidcoins we see an entrepreneur’s success as a success for us also. This article will discuss some of the challenges individuals face growing a small business, as well as how Fluidcoins is helping to overcome these issues.

Fluidcoins is a cryptocurrency payments company with various crypto-powered solutions that enable businesses in Nigeria to receive crypto payments, sell, expand, and achieve limitless possibilities.

Some roadblocks small business owners face trying to grow today

Receiving payments

Difficulties faced trying to receive payments from customers can be an obstacle to a small business expansion. It can easily get exhausting having to keep track of various kinds of payments all the time, especially when trying to expand your business. Keeping track of all payments manually gets increasingly difficult as your customer base grows.

Lack of Time

As a small business owner, you’re often responsible for executing business plans and winning new customers. You may also be in charge of answering phone calls, filing paperwork, and dealing with vendors. In fact, the smaller your business, the more tasks you’re likely to have. Time constraints can be difficult to manage and can cause important matters to fall through the cracks. This could be harmful to the growth of your business.

Limited Online Presence

Businesses have never needed to connect and engage with current and future customers like they do today, especially online. A significant advantage of having a strong online footprint is that it makes exhibiting your products and services much easier. Most small businesses haven’t utilized the opportunities the internet provides to find customers and grow without much cost.

Ways Fluidcoins can help you grow your small business in Nigeria

Accept crypto payments and make your business global from day one

Cryptocurrencies are becoming increasingly popular around the world. Millions of people have heard of cryptocurrencies like ‘Bitcoin,’ and many more have purchased and sold some to learn more about how they work. In other words, digital money ownership is no longer a foreign concept to individuals. A significant advantage of adopting cryptocurrencies as a small business owner is that it opens up your business to new markets. With Fluidcoins, you can accept crypto payments from customers anywhere and be settled in fiat (NGN) at your end. This can help boost your revenue and growth.

In other words, digital money ownership is no longer a foreign concept to individuals.

Spend less time managing and more time selling with FluidShop

FluidShop is an easy tool for small business owners with no coding or design skills to create and manage stunning online stores. With low stock alerts and the ability to create and manage product variants, FluidShop helps small businesses minimize time spent keeping track of their inventory.

FluidShop users are able to accept crypto payments from anywhere in the world while also facilitating Naira payments through well-known payment processors like Paystack or Flutterwave.

Receive online payments from any platform with Payment links

Fluidcoins Payment links make it easier for businesses to get paid from any online platform without stress. This is a game-changer for merchants that don’t have websites as they don’t have to worry about payment integrations. Easily share links and get paid via WhatsApp, Facebook, or any other social media platform.

Payment links are a bi-product of the Fluidcoins Merchant Dashboard. They are also reusable, meaning they do not expire until you delete or disable them. You can also monitor Payment Links using the Fluidcoins dashboard. The dashboard provides insights that help you keep track of customers, payments received, and much more for free.

Stay ahead of inflation with Fluidcoins liquidity and Earn

The devaluation of the Naira has weighed heavily on the operations and personal lives of many businesses and individuals today. Business owners now find it difficult to restock their inventory as the prices of goods and services appear to be on a never-ending rise. Today, individuals are confronted with two major issues when growing a small business: rising inflation and decreasing consumer purchasing power. The devaluation of the Naira makes operating capital limited while finding buyers is increasingly becoming more difficult due to the increased cost of commodities.

These challenges were what spurred us to create Fluidcoins Liquidity and Earn. With Fluidcoins Liquidity, we’ve created an easy means for businesses to hedge their idle Naira balances in Dollar Stablecoins. Therefore, protecting themselves from rising inflation.

With Fluidcoins Earn, we’ve also created a means for business owners to save their Dollar Stablecoins and earn up to 6% returns per annum .

Businesses are not required to lock up their funds for any specific period. They can withdraw at any time. As a result, business owners no longer have to deal with Naira’s unstable value.

These are just a few ways in which we’re helping small businesses in Nigeria grow. We believe there’s room for both large-scale and small businesses at Fluidcoins. This is why we’ll keep working and innovating to create newer solutions to empower businesses to flourish. Begin your journey with Fluidcoins here.