‘We Are Often Under-Priced Because We Are a Startup’

For many startups, the story of how and when to start out are major challenges they always encounter at the inception of their endeavour.

Parts of their concerns are what people will say if the business fail, or if they will ever secure funding to continue the next phase of the business, Abiola Olaonipekun’s story is not in anyway different from the trepidations these startups go though when starting out.

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Abiola is the founder of BanahGrace Nigeria Limited – a specialist consumer behaviour research and data company connected to the cultural context, values and pulse of the Nigerian society that provide market research services to companies within and outside Nigeria said that she was really scared to start out, but God provided all the signs and support she needed.

She said she started the company from her drive of helping people to succeed in life. “So, while working at one of the top best research companies in Nigeria, we were unable to help some companies due to different reasons ranging from type of work, scope, budget etc. I felt we could do more.

I saw an opportunity to help people get the insights they need to make an informed decision. So, I started and now I’m able to do more than just one thing. I provide data, I introduce people to great service providers, broker relationships, recommend insights that cut across market research, publicity, advertising, marketing, user experience and so much more. It’s so exciting being in this position”, she said.

In doing their work, Abiola said they approach every assignment with empathy, respect, clarity of thought and global standard research methodology and innovation.

“We are hired because we are incisive and focused on finding the quickest and most insightful way to deliver clients’ projects. Our goal is to help our clients build their businesses in Nigeria with the actionable insights and data to power their decision making”

Though we are often under-priced because we are startup, but we don’t because of that compromise on great quality and standard that we are known for.

“We don’t allow current pay cheques to deter us from producing top-notch work to our growing client base because we believe in excellence”

Currently, BanahGrace has office in Ikeja, the capital of Lagos where they currently have clients in different industries ranging from technology, automobile, FMCG – yoghurt, milk, noodles, drinks, non-governmental organisations, banking, facility management, to oil and gas and others.

“We work with local and foreign direct clients and some research agencies also sub-contract their work to us.

It is exciting to be able to bring this wealth of experience into our work and continually learn to become better. Nevertheless, we still experience downtime occasionally. It’s been an exciting journey and I look forward to many more exciting years of bringing solutions to clients’ burning issues”

In spite of the challenges they encounter as startup, Abiola further explained that the company has two key plans for the future: to specialized products for the market and to increase human capital in the industry through training.

“We plan to design and develop market research products targeted at micro, small and medium businesses within Nigeria and foreign investors who are interested in this market. We need to make market research and data more affordable and accessible to organizations”

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Abiola pointed that the company also intend to develop training programmes for young people who that interested in gaining market research skills.

“Currently, there is a death of skilled workers in Qualitative research in Nigeria– from transcribers, client service executives, to those who are simply interested in drafting proposals and reports. We intend to grow the industry as well as empower these young people with skills that can stand the test of time”, she explained.