SMEs, and suppliers

Business in Nigeria has changed immensely thanks to technological developments in recent years. Almost every day, new businesses emerge all trying to take advantage of digital and social media platforms to reach out to customers.

Technology has created a new and advanced way of doing business transactions online. This makes things easy but also comes plenty of security risks. Unlike before when most people would rent shops and share fliers to attract customers, these days a person can just advertise goods online using really nice pictures. Sometimes a vendor may not have the goods physically but may have suppliers to purchase from as needed by the customer.

It is not new to hear stories of suppliers who default in supplying the correct quantity of goods, or the agreed quality of goods or even supplying at the right time. Sometimes it could be as a result of unforeseen circumstances but most times these acts occur out of sheer nonchalance and lack of professionalism. As a vendor, this can make you lose money, loyal customers and can give you a bad reputation.

Ordinarily, you might want to take legal action against such supplier to compensate you for your loss, but here’s the disadvantage in that, IT TAKES SO MUCH TIME. Now, this is where mediation comes in.

With Mediation, these disputes can be resolved in 3 sessions or less depending on the willingness of both parties to reach a settled agreement and it is possible for all 3 sessions to be held within 1 or 2 weeks depending on the availability of parties.  

For more information about how you can use mediation for disputes in your business, feel free to send us a message on our WhatsApp phone line (+2348163539286) for free consultations.