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Making things work in an economy that doesn't

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@young-boss-karin
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A friend of mine's working on a really awesome tech start-up. It's TikTok for jobs mobile application that incorporates a Tinder means of application, users swipe to apply for jobs. I think it's bound to be a success but the road to success is anything but smooth. Image Source The company was registered last year in the US because of how unlikely it is to receive benefits from US Investors if your company is registered in an African country. It was pricey in Naira but as of last year, he paid $800 at an exchange rate of $1 to N400.

He was fortunate to make that payment then because a few weeks after, the naira became 500 to $1 and now it's a bit over 700 to $1. However, he's been contacted to make a yearly tax payment of $600 and he's going to end up paying more than he did for registration in Naira equivalent.

Making things work here

Getting business done in these parts is hard. The rate at which prices increase makes conducting business almost impossible as income doesn't exactly increase alongside the price of goods and services.

Additionally, being on a quest to escape the system keeps getting harder as well. Tech start-ups in Africa barely have enough recognition thanks to how terrible the African market is.

I worry about the future for us most of the time but I just have to believe that things will get better in the coming years. I don't expect the economy to get better but maybe if things begin to work out well for individuals we wouldn't notice the economy this much.

About Me

Hi, my name is Karina and I'm a Product Designer. I love to write about my design process and random cool ideas I have as they come. I'm also always job hunting and looking out for projects I can collaborate on so if you'd like to work on something together, you can contact me and also check out my portfolio;

Email: [email protected] Portfolio: https://www.behance.net/karinalovet


Thanks for reading

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