New Business Opportunities & Emerging Business Ideas You Can Invest Into In Nigeria This Year And Many More Years To Come
In spite of all the business opportunities we have at our disposal in Nigeria, I strongly feel for the thousands of Nigerians who still remain ignorant. Truly, there are a lot of businesses in Nigeria that really yield huge profits and some of these business opportunities are mentioned in this article.
A common challenge that prevents most people from starting their own businesses in Nigeria is start-up capital, whereas, not all businesses require high capital for start-ups. There are businesses you can venture into with a start-up capital of N12,000 only, whereas, other businesses may require N20,000, N50,000, N200,000, N2,000,000 or more for the start-up. It depends on the type of business and its level of operation.
If you’re planning to start your own business in Nigeria, here are 12 new business opportunities you can venture into:
- Furniture making
- Online tutoring
- Mini importation business
- Bakery business
- Laundry business
- Recharge card printing
- Web design
- Private nursery and primary school
- Freelance writing
- Food exportation business
- Printing and publishing
As a furniture maker, you can make a lot of money building furniture for homes and offices. To start the furniture making business, you don’t have to be a furniture maker at all. You can employ the paid service of a furniture maker to do the job for you while you take care of the marketing aspect.
In Nigeria, we have some university graduates who make money from furniture making doing this at their leisure. The wisest among the jobless graduates take such actions on time. A furniture maker who happened to be a Physics graduate of the Obafemi Awolowo University (OAU) was interviewed recently on how he became a furniture maker in Nigeria.
In his response to the interviewers, he said the idea of becoming a furniture maker occurred to him when he couldn’t get a job for the whole of the years after which he came back from the youth service.
Online tutoring is another business opportunity in Nigeria that pumps a lot of money in. So far you have a laptop computer with access to the internet; you can start the online tutoring business and start making money in earnest.
If you’re good at Physics and Chemistry, you can connect to experts in other fields to form a team towards tutoring online. One of the greatest ways to maximize this business opportunity is creating an online portal for the business.
Mini Importation Business
This is the kind of importation business that you can start with as little as N10,000 only. Some of the items you can import into Nigeria that will help you earn huge profits include blackberry phones, phone accessories, androids, iPad and iPhones.
Because most Nigerians are desperate about the use of phones, they wouldn’t mind using their meal tickets to buy those items.
In every community you visit or find yourself in Nigeria, only a very few people are actually involved in this business thinking that the capital required for setting up a bakery business and marketing would be costing up to N2,000,000, whereas, there are a lot of people out there who didn’t spend up to N100,000 before they started out.
If you’re passionate about dry-cleaning, this is another lucrative business opportunity particularly in the urban areas. People make a lot of money helping others wash their clothes and dry-clean for them. We have classes of people in Nigeria who don’t have their time to do the cleaning themselves, but would rather love to use the service of a dry-cleaner. Examples of such people are bankers who stay in office till about 8pm doing computations and all of that.
Recharge Card Printing
It’s really profitable printing recharge cards in Nigeria as almost everybody has no alternative to buying recharge cards every day. People have to call, send text messages, and browse with the card daily. It’s indeed a great business opportunity. Though the gain is little, it sells fast and the token profits accumulate fast to an appreciable amount of money.
Blogging has been my favorite business opportunity ever as it gives the opportunity to build up a multi-million dollar brand and a virtual real estate creating helpful and informative content as well as building engagement with the readers.
WordPress has been the best and most integrated blogging platform used so far by hundreds of internet entrepreneurs in all parts of the world. It helps your blog rank faster in search engines due to its in-built SEO plugins.
Without spending a huge amount of money on web design training, or without pursuing a university degree in Computer Science and Engineering at all, you have sophisticated web design training resources online at your own disposal.
Private Nursery and Primary Schools
In some towns in Nigeria, almost everybody has ventured into the business of running a private school as there is no industry around to create job opportunities for the people. So, most people have become proprietors and proprietresses just to be able to make a living. Once the school is located in a cool and open place, getting turn-ups is guaranteed.
Freelance writing has become the easiest and most available job opportunity in the online today even for newbie and veteran entrepreneurs. Blogging starts from freelancing and it grows to a virtual real estate which is the visualized financial freedom. Currently, there are hundreds of job openings for Nigerians who are passionate about writing.
Food Exportation Business
For those who have been to the US, UK, Canada, and elsewhere to work and live, there are African kitchens all over the places for Africans and there’s no single person planting African food crops over there. So, the only means to make these African food items available for Africans is through exportation.
To start exporting food items, create a personal website and install automated tools through which people can place orders for food items online and have those items delivered in 3-5 business days.
Printing and Publishing
Publishing is now one of the most lucrative entrepreneurial businesses in Nigeria as companies, schools, industries, offices, and other people have a lot of documents to print and publish. Companies print and publish manuals for their basic manufacturing, marketing, and cooking operations. Schools print payment receipts, diaries, school registers, class attendance records, notebooks, reference books, and other statutory records for their staff.