Contrary to what some folks may speculate, Nigeria hosts a good number of business opportunities whether you seek a side hustle, or you belong to the unemployed sector. We’ve considered some factors including trends and demographics to bring to you just about 10 viable small business opportunities in Nigeria. They are as follows
With a population of more than 170 million folks, the Nigerian agribusiness market is among the biggest in Africa. A population explosion within the next couple of years has been predicted, making the agribusiness industry a far more profitable business option to check.
Currently, many sub sectors of the market as poultry agriculture, fish agriculture, farming, cassava agriculture, palm oil farming happen to be churning in millions for successful farmers in the fields of theirs. You will find a huge number of business ideas that are small in farming to venture into. This resourse contains useful info on
2. Web Design Agencies
Nowadays, almost all businesses are jumping over the internet scene. This implies one thing – they all need sites and that’s where you are able to are available in. This gap within the net design space poses a chance for many web design agencies or perhaps aspiring business owners aiming to get into web development.
As a net designer of Nigeria, you can promote your agency through SME functions, blogging, social media sites like LinkedIn, and many other channels. Assisting the millions of businesses that are small springing up to produce excellent web models and create blogs on Blogger or WordPress can be real money spinners.
What you need: A personal computer, great web design abilities, a profile, and then different routes to reach prospective customers.
Nigerians (especially those who could pay for it) take training seriously. The typical sequence is Daycare Centres, secondary schools, primary schools, Nursery schools, and colleges. This’s definitely one great investment potential for just about any entrepreneur.
What more, you are able to opt to invest in the non traditional education sector like special learning, educational technology, educational websites, adult education, as well as educational resources. There’s a really great range to cover in this market to help keep the money coming in.
What you need: Pick a training niche for trained for it. Begin investing.
4. Retail Stores
With basic requirements of clothing, a lot, medication, and groceries more, becoming a part of the average individuals day life, the local store market in Nigeria warrants a second appearance regarding investments. It does not need to be big, despite a small retail shop, you can still generate sizable revenues.
For a begin, you set up a little shop which focuses on food, fashion products, or one of the other several groups. Starting a local store carries it is very own cost implications but it’s so lucrative all of the same. Ask SPAR, Health Plus, Shoprite, and also the likes.
What you need: Understand the industry, understand what offers, and job yourself to get a bulk of the buyers.
5. Digital Advertising Agency
With a huge selection of businesses that are small cropping up in every field, staying afloat might be an enormous job. This’s exactly where advertising agencies are available in. As an advertising company like
Wild Fusion or anakle, you are able to help companies grow the customer base of theirs by producing compelling online and not online campaigns.
Businesses are usually excited to pay lots of cash to produce their brands faster. Thus, in case you’re a seasoned copywriter, partnering with a couple of additional copywriters and a truly great artist could get the creative agency of yours running in a short period.
What you need: Figure out how to develop games or apps and also have good understanding of how you can manage quality/creative campaigns that could go viral.
6. Mobile App Development Agencies
While only some Nigerian companies use custom built mobile applications to participate with the customers of theirs, thousands are always searching for competent mobile app developers to take the ideas of theirs to life. This particular demand for mobile program improvement in Nigeria is now high, rendering it truly lucrative.
An typical movable app of Nigeria might cost you between N300,000 to N3,000,000. Handling several tasks at the same time might mean bringing in millions. What you need: Being tech savvy, mobile application development ability and also multi tasking skills.
7. Mobile Phones
List or even web based mobile phones store owners large numbers from merely marketing mobile phones to the ever growing Nigerian market. Companies as SLOT hold the goodwill, the largest the money and customer base from merely selling phones.
With a well known and lucrative little business this way, you are able to try out different marketing strategies like offering cell phone deals to entice many more people to patronize your smartphone internet business.
What you need: Start by promoting inexpensive mobile phones.
8. Real Estate
With a few real estate businesses in Nigeria currently focusing on either residential and business real estate, the chances in the market are simply growing. In Nigeria, real estate companies are generally accomplished through main street sales channels, though you are able to create an online offer and channel thousands of properties for sale. Examples of some profitable online real estate businesses in Nigeria are ToLet, Lamudi, and Private Property. What more, you can serve as a real estate agent and obtain a commission on every sale you bring to a genuine estate business.
What more, you can serve as a real estate agent and obtain a commission on every purchase you bring to a genuine estate business. What you need: Customers program abilities, sales letter abilities, and staying in touch with everyday real estate information.
9. Startup Loan service
In case you’ve a little dollars to spare, you can start up a loan program for small business people that hit gridlocks while attempting to secure loans from banks along with other financial institutions. Because of the heavy load demands set by these financial institutions, a lot of startups are hardly eligible for loans.
As a startup loan program company, you are able to provide short term loans with much lesser restrictions to budding companies.
What you need: Additional cash, a lawyer, and risk tolerance.
10. The Stock Market
Obviously, there’s the inherent threat of heavy losses, though the stock market is somewhat profitable in case you are making good stock bets. Before choosing what stocks to purchase, study the
company’s long-term and short development, talk to your stockbroker, an economic expert, and on occasion even a friend that is been trading properly within the stock sector for a long time.
With the proper predictions, purchasing stocks are able to allow you to be a millionaire.