Nigeria has become a fertile ground where many small enterprises have sprung. These businesses have turned out to be a source of income due to the dominant menace called unemployment in our society. Similarly, the lack of options to find a well-paying job that would enable these business owners to support themselves and their family has fostered its existence.
Numerous people are unemployed in Nigeria due to the reasons stated above and being financially dependent in this trying time is suicide in itself. Nevertheless , if you’re clever, you can launch your own company and you know what you’re doing, you’ll be making your own money in no time even hiring other people.
To launch a business, you do not need to be extremely wealthy. The business concepts we outline on this page can be pursued with modest or substantial funding. Everything is based on your capacity.
Starting a business in Nigeria has a lot of benefits. You start by taking control of your own future. No boss can come up to you tomorrow and give you the bad news. Job security exists.
The chance to develop and create a personal brand is another factor. You develop a brand when you own your own firm. Your brand gets bigger as you expand.
Most profitable businesses you can venture into;
- Agriculture business
Aside from being one of the most profitable industries in Nigeria, agriculture is a sector that will never go out of style. It never ages or deteriorates. Agriculture business will persist so long as there are people. As a result, it becomes a crucial and strategic enterprise. The fact that there are several loan or financing choices accessible for Nigerian agribusiness entrepreneurs is one factor that makes this industry so alluring. The Federal Government, through the Ministries of Finance, the Central Bank, and Agriculture, runs a special Bank of Agriculture. To learn how to apply for a loan from the Bank of Agriculture, click here. The agriculture industry is given a lot of preference by commercial lenders.
Poultry farming, snake farming, cattle farming, palm oil farming, cassava farming, and snail farming are among the agriculture businesses you can start with little cost.
- Food business
There is no possibility that the food industry won’t rank among Nigeria’s most valuable industries. This industry is always in demand. Everyone will need to eat! Food is one thing that people can never live without, regardless of how bad the economy is. If run successfully, this company has the potential to make you wealthy. Additionally, gaining repeat business is really simple. As long as your meal is good, customers will continue to visit. You can run a profitable food business if you can find a great site, get the necessary employees, and resources. This industry has no season. It is constantly in demand. You can diversify by supplying food, small scale food selling and franchise.
- Real Estate business
One of the most valuable industries, both locally and globally, is real estate. There is no question in my mind. The need for a roof over one’s head will never go away. Real estate will continue to flourish as long as the population grows. This industry continues to flourish as more people move to cities. The real estate industry offers a lot of options. As an agent, you can work finding homes and apartments for renters while receiving a fee or commission. Additionally, for a fee, assisting landlords and property owners in finding tenants or buyers. You can create properties in a location that is in high demand for sale or rental. Likewise, you can purchase land to develop or sell for a profit.
- Social media marketing
Social media marketing must be among the most lucrative businesses in Nigeria because so many individuals spend the majority of their time on social media. Utilizing social media to generate leads for businesses is the core of social media marketing. You can use social media to advertise and sell products on your own or work independently to assist businesses in using it to its fullest potential.
The fashion industry would undoubtedly rank among Nigeria’s most lucrative industries. Whether it’s a wedding, a birthday, or an end-of-the-year celebration, Nigerians love to celebrate. Even during the burial ritual, we still manage to hold a party! There are uniforms for each of these occasions.
The fashion industry is in high demand. Clothing will always be worn by people. People require clothing to go to work, school, and even to sleep. Demand is really strong.
You can pursue a career in fashion design and create stunning clothing. You will receive a lot of business from several sources. Additionally, you might start a boutique where you’ll offer locally and imported fashions. You can print on t-shirts, caps, and printing services.
- Dry Cleaning business
In the city, this business is highly successful. The majority of busy workers outsource their laundry needs to dry cleaners. Services for dry cleaning are frequently used by businesses and organizations. If you are in the correct place, you will always have customers in this industry.
- Drop shipping business
The drop shipping industry is quite lucrative. It allows you the chance to manage your own internet store without the requirement for a warehouse or any inventory.
Simply create an online store, copy the inventory from suppliers or manufacturers, and then paste it into your site. If someone places an order, the provider will ship to them, and you’ll get paid!