Money Making Monday: Some Patterns and Challenges that Hinder Business Growth in Owerri

 

In Owerri, the streets are bustling with small and medium-sized businesses ranging from fashion boutiques to customer service companies, Media houses, eateries, tech hubs, etc.

Yet, many of these businesses struggle to reach their full potential compared to their counterparts in other cities like Lagos, Abuja, or even Port Harcourt.

While environmental factors such as infrastructure and market saturation play a role, deeper systemic issues lie within how businesses in Owerri are run.

This article explores some of these patterns and challenges that hinder business growth in Owerri.

One major issue plaguing businesses in Owerri is their hiring approach. Many employers prioritize hiring individuals they can afford to pay over those qualified for the job.

For instance, a role requiring a professional is often filled by someone less skilled simply because the employer wants to save costs. Qualified individuals, unwilling to compromise on fair pay, often decline these offers.

The result? Businesses end up with underqualified employees who lack the skills or passion for their roles.

This is glaringly obvious in customer service companies, where employees are rude, reluctant, or simply inefficient in dealing with clients. Such attitudes alienate customers, which negatively impacts the growth and reputation of these businesses.

Conversely, businesses in other states are willing to invest resources in hiring the best hands, which drives better customer satisfaction and business growth.

Another critical issue is the lack of focus on human capital development.

In Owerri, many business owners see investing in employee training as a waste of resources, fearing that workers might leave once they gain new skills. Workshops, conferences, and training programs are rarely organized, leaving employees stagnant in their roles.

However, employees are the backbone of any business. Their exposure to best practices, industry trends, and professional development opportunities directly reflects on their productivity and overall contribution to the organization.

Businesses in other cities recognize this and prioritize employee development, which is why they stay competitive and innovative. Until Owerri businesses adopt this mindset, many will remain stuck in the same spot for years.

There is also the issue of absence of a Structured Work Culture.

Many businesses in Owerri operate without a clearly defined work culture or standard operating procedures.

Job descriptions are vague, and roles overlap to the detriment of employees’ productivity. For instance, someone hired as a front desk officer often ends up performing additional tasks like cleaning, messaging, or even managing inventory, tasks that should ideally be handled by separate individuals.

Such practices lead to burnout, resentment, and a drop in morale. When employees feel overworked and undervalued, their productivity decreases, which ultimately affects the business.

A well-structured work culture with clearly defined roles is crucial for ensuring efficiency and fostering a healthy workplace environment.

Another serious issue is Family-Owned Business Syndrome.

The concept of running businesses as family empires is another major challenge. Many business owners in Owerri fill key positions with family members or friends, regardless of their qualifications or competence. This often leads to a lack of accountability and professionalism.

For example, consider a gas plant where the cashier is the owner’s sister-in-law who has no basic knowledge of accounting or even book keeping.

Instead of adhering to company policies, she reportedly asks customers to pay into her personal account and resists correction, claiming her relationship with the CEO shields her from consequences.

This kind of nepotism breeds resentment among other staff members and compromises the integrity of the business. Such practices are rare in thriving cities where meritocracy is prioritized over familial ties.

Owerri is brimming with entrepreneurial potential, but systemic flaws in how businesses are managed often prevent them from thriving.

Addressing these issues, such as hiring the right people, investing in employee development, establishing structured work cultures, and avoiding nepotism, can significantly improve business outcomes.

The success of a business is not just about the location or resources, it’s about the people, processes, and principles driving it.

There are other factors, but we are making due with these ones for now.

Until these areas are addressed, businesses in Owerri may continue to lag behind their counterparts in other regions.

I have something to say about Owerri employees, watch out for my next article on Owerri businesses.