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RE: SLC | S21W4 | Costs for entrepreneurs - Budgets
Finally, after the 4% adjustment, we reached the adjusted cost, including all expenses. I always insist that we should keep a portion of our profit for emergency funds, which comes in handy at such an occasion; otherwise, the inflation will force us to reduce the production or reduce the weight of the finished goods.
As a result of the hyper inflation in Nigeria, even emergency funds are not meeting up and it’s forcing a lot of big companies to back out from the country. The more they increase price of products, people go for alternatives and it’s affecting business decision. They are forced to reduce the quality of products to meet up.
I agree the world is facing inflation due different reasons including the wars going on for no reasons. I also agree that the politicians' greed has reached the extent where they see nothing beyond their self interests. I think your country is suffering from both these reasons. I must say, we have such politicians in our country too but luckily they are not in power.