Are you an entrepreneur or investor looking for where to invest your money to get good returns? do you want to know where to find fast growing business ideas in Nigeria.
Initially Nigerians weren’t serious about tapping into business opportunities and left all businesses to foreigners.
Even Nigerians abroad who has stayed over 10 years and made a lot of money are scared of coming too invest in Nigeria, rather than taking the currency advantage between the naira and dollar, euro or pounds they rather stay abroad because they fear the uncertainty of doing business in Nigeria.
Thankfully Nigerians have woken up,many people are coming up with intelligent business ideas and setting up lucrative business.This is not unconnected to the fact that the federal government have in recent years encouraged and rigorously supported the establishment of small and medium sized businesses as a strategy for stimulating Nigeria’s economic growth.
So the question remains, what are some small sized businesses I can do in Nigeria in 2018?
Agriculture remains one business that can never die out. Agriculture here entails crop farming and animal husbandry.Investing in agriculture is a smart one, because some items such as poultry, fish and groundnut oil and are regarded as contra-band, this however gives room for investors to make huge amount of money due to limited competition from foreign countries some the items you can produce for sale include rice, Frozen poultry, fish, live stocks e.t.c .
2 .Web design or development
If you have passion for tech and can stay on your PC,web designing is just for you.
In this era where businesses are being taken to the internet web designers remain indispensable.
This is one of the fastest growing business in Africa especially Nigeria.A lot of people have done really well in the laundry business.There are lots of people who are overwhelmed by work loads and do not have time to wash their clothes, your service to them would be very essential. A clear example of a successful laundry business is prime wash.
4 .Phone repairs
Nigerians are exceptionally good in changing smartphones,there is an unending market for smartphone repair, in a country where you hardly see an adult without a mobile phone. This indicates that this is a huge market in which you need to delve into.
In a country of over 160 million people you, where lots of individuals are looking for greener pastures, people tend to move from one location to the other in order to make ends means.
You can actually be a problem solver if you start a mini transportation business ,you can start this transportation business within a state or inter-state service
To demonstrate the good mind that exist in the transportation business,where I live in port Harcourt an average capital accumulated by the by the conventional Keke-napep witin the range of 10-15 thousand Naira( Fuel inclusive and others).
6 .Restaurant business
In Nigeria restaurant business has continued to flourish. This sector can never go out of fashion because “man must chop”.
You could set up a good restaurant in the densely populated area, where there are few restaurants or close to a company that has large workers base.
7. Export business
Exportation business is an industry that contribute 23% of the country’s gdp.
Wouldn’t you want to tap into this Goldmine and make mad profit.
Firstly you will need to :
- Register a business name.
- Find the products to export.
- Determine the price of your product.
- Source for foreign buyers of your product.
- Find suppliers of your products.
- Get logistics.
7. Internet Service Provider
Starting an internet service provider business is not an easy task but if planed well and having accessibility to the right resources- it is neither impossible.The biggest challenge of becoming an ISP is the huge amount of initial capital required for licensing, procurement of equipment and infrastructure.
The demand for fast internet with 24/7 up-time in Nigeria would move any smart minded entrepreneur to venture into this sector. A very good internet service provider in Nigeria is the smile network, which is extremely fast and considerably affordable
There is one thing that is certain in life ,everyone wants to look good especially the ladies.Ladies can go extra mile just to look attractive in the eyes of men and even compete with fellow women to make them envious .
The hair is just one of the major part of the body that can bring out one’s beauty,women in particular are very passionate about their hair.When you list out businesses that brings out instant revenue hair-dressing would be among the list.
With the inception of digital photography, Photography business in Nigeria has become a lucrative one.The photography industry is extremely demanding in terms of work hours but extremely rewarding also. So if you have a passion of taking photos, This is a perfect industry for you.
Small and medium scale enterprise is the back bone of any country. There is money in these enlisted businesses if only there is a proper management and patience in order for your business for your business to grow.
To get more detailed list of other business you an start up in Nigeria which are profitable on Kindly follow the link below.