Three-quarters of that growth is likely to come from manufacturing to substitute imports and meet burgeoning local demand. Africa is ripe for a green revolution. A luxury boat cruise or tour operatorship could be a great idea.
Primary Sidebar
What are the best small scale business ideas in Nigeria? What is the best business to start in a harsh environment like Nigeria or Lagos for ? What are the best small business opportunities for Nigerians Investment Opportunities living in Diaspora or oversea? For quite sometime now, my email box has been filled with request from fellow Nigerian entrepreneurs asking for the fastest growing business opportunities in Nigeria which they can invest in. Before I proceed with any detailed explanation, I want top 5 investment opportunities in africa for 2020 state clearly that there are untapped small scale business opportunities in every industry both in Nigeria and all over the world; you just need to dig deeper to find such niches. Now for those landing on this blog for the first time, i think it is important i introduce myself briefly. I am Ajaero Tony Martins ; an entrepreneur and investor, with a passion to share my knowledge and also learn from .
You may also like
In , it became a regional competition. Are you a young African between the ages of 18 and 28 and currently residing in Africa? Here is another chance for you to have your say on building your nation and continent! Empowering women to prevent early marriage and pregnancy for adolescent girls is one of the World Bank Africa Human Capital Plan objectives. Sub-Saharan Africa has the highest prevalence of child marriage in the world. These young girls are having their childhoods cut short, but this goes far beyond a moral issue.
More about this
What are the best small scale business ideas in Nigeria? What is the best business to start in a harsh environment like Nigeria or Lagos for ?
What are the best small business opportunities for Nigerians Investment Opportunities living in Diaspora or oversea? For quite sometime now, my email box has been filled with request from fellow Nigerian entrepreneurs asking for the fastest growing business opportunities in Nigeria which they can invest in. Before I proceed with any detailed explanation, I want to state clearly that there are untapped small scale business opportunities in every industry both in Nigeria and all over the world; you just need to dig deeper to find such niches.
Now for those landing on this blog for the first time, i think it is important i introduce myself briefly. I am Ajaero Tony Martins ; an entrepreneur and investor, with a passion to share my knowledge and also learn from. A company i control own the biggest business blog network in Nigeria and probably the fastest growing entrepreneurship blog in the world. Now from my personal experience and interaction with Nigerians both home and abroad, I came to observe that many people are interested in investing in Nigeria by setting up their own companies but fear seems to hold them.
I have met individuals who have been living and working abroad for over ten years; they have made a lot of money over. But rather than come back to Nigeria and start a business, taking advantage of the currency exchange difference between the Naira and Dollar, Euro or Pounds; they would rather stay abroad because they are afraid of the uncertainty of doing business in Nigeria. Some even tried to invest in the stock market and they lost their money, not because the stock market is bad but because they lack the needed experience and knowledge to invest in the stock market.
Well, I still invest in the stock market regardless of its ups and downs; because I have the needed technical know-how.
Well, if you are one of such individuals that is scared of coming back to Nigeria to establish a company, the points below will help quell that fear. Now Nigeria still remains a hub for most entrepreneurs and investors. In fact, Nigeria is now the largest economy in Africathe number one destination for Foreign Direct Investment in Africa and one of the fastest growing economies in the world. The list goes on and on but the point I want to stress is that this is the right time to invest in Nigeria.
Please if you are in doubt of any of the information listed above, Google is your friend. Just do a search. There are over million people resident in Nigeria and the population in Nigeria is been predicted to overtake that of United States by Now what this means in essence is that the market is big enough to absorb any product, provided enough marketing and awareness is created.
Another positive impact of this population statistics is that there is cheap labor. One of the reasons China grew to become an industrial hub is because of her large population, which in turn can be an advantage, with respect to cheap the cost of labor and market availability.
Nigeria is fast developing and there is a huge need for innovative products. If you are resident in Nigeria, kindly reflect on the position of Nigeria ten years back and compare it with her present state; you will agree with me that there is a huge change.
Between andnew companies were launched in Nigeria that disrupted their various industry. Nigeria is currently riddled with problems and the government is currently battling to tackle these problems.
I am talking about challenges such as falling oil prices, security, infrastructural decay, unemployment, power failure, corruption, fall in education standardaccommodation. The average minds believe these problems can never be resolved and if it is to be resolved, it should be done by the government.
However, people with entrepreneurial mindset know that these problems are opportunities; and only those who act will turn these opportunities into profitable businesses. Between andnew private universities and higher institution of learning are springing up to bridge the gap.
In all honesty and humility, I want you to know that I am currently profiting from the security situation in the country by providing a solution to a specific security challenge.
The government is working to improve the economic condition of the country, by implementing several policies aimed at encouraging local content production and small scale enterprises. If you are well positioned to take advantages of such opportunities, you will make something from it. The eye of most entrepreneurs and investors doing business in Nigeria is usually on Lagos, Abuja, and Port Harcourt. Take for instance Nairaland is being run from Ota, Ogun state.
Yudala was launched in Owerri, Imo state. Innoson has its headquarters in Nnewi Anambra, same for other numerous companies. I am equally not moved by the politically inclined propaganda promoted on the media about Nigeria.
I am an entrepreneur on ground, and I have personally assessed the situation on ground and charted out ways to harness it. I would rather work with my own hard facts and proposed solutions than work with the media statistics. I think I have said. So without wasting your time, below are some small scale business ideas and opportunities in Nigeria you can invest in today. Now for those who are eager to start a business or invest in Nigeriathere are a few criteria you must meet; so as to ensure you are well positioned for success.
Yes, I have had so many people call me to talk to me about the possibilities of starting a business in Nigeria while running it from overseas.
Now the honest truth is that you can successfully operate a business in Nigeria without being physically present; but not in the startup phase of the business. This is one of the mistakes most Nigerians in Diaspora make. If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run the business for at least one year. Rather, I will advice you seek professional help, incorporate your company and make sure your back is covered legally.
To succeed as an entrepreneur in Nigeria, you must have skill and competence. Competence is a product of knowledge mixed with experience while skill is something you can develop over time through training. Invest time first to learn everything you can about a business before you invest your money. To keep cost low, you may choose to start as a self employed entrepreneur operating from home, a shop or an office. There is nothing wrong with starting out this way, after all; I started out as a self employed entrepreneur working from home.
But as you grow in business, you will need to bring in competent hands. You must have capital. There is no much explanation to do. To successfully setup a business in Nigeria, you must have capital. Top 5 investment opportunities in africa for 2020 is needed to get things. You can start with the little you have even if it is just enough money to get a laptop and an internet connection.
Another mistake you must avoid is starting a business whose trend is dying. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort.
So stop looking for the best business to start, instead; look for the best business you are willing to stick to regardless of the surrounding circumstances. Livestock Farming. Do you know that one of the fastest growing business opportunities in Nigeria is catfish farming?
The major players in this business are usually regional players. What this means in essence is that each major player in the catfish farming industry is focused only on a particular business terrain within the geographical location of the farm.
One this bill is passed into law by the national assembly, the local fish farmers will smile and you will be left. So w hy not position yourself now? With respect to poultry farming, the ban imposed by the federal government of Nigeria with respect to the importation of live or frozen poultry birds has only helped explode the demand. To be honest with you, livestock farming in general is a booming business in Nigeria and the trend is not dying anytime soon.
You can even start this business from your backyard. However, lack of technical know-how and the use of crude equipment are the major factors hampering the growth of this industry. If you can come in with adequate knowledge and the patience to nurture this business, you will reap immensely. Now you can choose to either venture into livestock breeding of animals or better still, you can stick to livestock feed production or equipment retailing.
Agro-products exportation. Nigeria is blessed with a lot of food and natural resources; and most of these natural resources are raw materials needed for the production of some finished products.
You can become an exporter by simply registering with the Nigerian Export Promotion Council and decide on the specific product you wish to export. A good example of a product you can buy and sell for huge profits is Palm Oil. Nigeria is blessed with a lot of mineral resources like Limestone, Coal, Iron ore, Bitumen. Aside this, the mining industry in Nigeria is set to take off because the federal government in June implemented a policy to drive forward the mining industry by declaring the importation of mining equipment duty free.
The government is also going after many dormant investors who were granted mining licenses but are not utilizing it. This act I believe, will spur the growth in the mining sector. If you have the financial capacity and a team, you can position yourself in this sector. There are lots of business opportunities in the oil and gas sector. Building a private refinery and refining crude oil is another business you should look into because there is a lot of potential in it.
In Januarythe federal government announced the partial removal of subsidy and with a long term plan to totally remove fuel subsidy. Now with the total removal of fuel subsidy, investors will now have the opportunity to set up their own refinery and produce fuel.
Are you among those that think the total fuel subsidy removal is a pipe dream? As atthe government is undergoing research and consultation to set up modular refinery an opportunity in 6 oil producing states in the south.
This is curb the activities of pipeline vandalism and illegal refining of crude oil a problem. Honestly, i understand that not everyone have the financial capacity and technical know-how to invest in a private refinery. Well, you can still tap into the oil and gas sector by setting up a filling stationstarting a mini kerosene retailing depot or establishing a cooking gas retailing outlet. Which ever one you choose, you will surely make money. Enough said. There are lots of opportunities in the transport industry and inland waterway is one of.
Nigeria has a broad network of inland waterways comprising rivers, creeks, lakes and seas; yet, transportation still remains a challenge because investors are yet to tap into water transportation. A lot of countries such as Italy, Thailand, etc have effectively been utilizing their waterways as a means of transport; thus reducing the traffic congestion on the road.
All you need to do is to incorporate a company, obtain license from the state and federal government, import or purchase some locally fabricated boats; and you are in business.
💰💰 Best Online Business To Start In 2020 For Beginners (WITH NO MONEY) 💰💰
25 Small Scale Business ideas and Investment Opportunities in Nigeria for 2020
But speed is critical. While the traditional obstacles to boosting agricultural output in Africa have been well documented including a deficit of distribution infrastructure and trade barriers among othersseveral African governments are making substantial and successful efforts in surmounting these shortcomings. Indeed, the fastest growing oppotrunities most profitable businesses in Africa typically see challenges as a spur for innovation. The latest opportunitiies returns to where it all began — focusing on the traditional and alternative sectors driving African countries to reach ever-higher levels of economic growth. Mfonobong Nsehe. An African industrial revolution is underway as manufacturers ramp tp production of everything from processed food to automobiles. Rapid urbanization 6 is one good reason why companies should make cities a central focus of their African growth strategies. The ongoing revolution among industries without smokestacks, such as tourism, 4 agro-industry, and some information and communications technology based services, can serve as a development escalator as these industries share three key characteristics of traditional manufacturing—exportability, higher productivity, top 5 investment opportunities in africa for 2020 high labor intensity. Dangote has built a shock-proof manufacturing model through vertical integration of the supply chain, on-site power generation, robust engagement with government, and an internal manufacturing academy. John Page, and Brahima Coulibaly, Electricity Pole In Nigeria. Africa has room for many more such invrstment and investors. According arrica the United Nations World Tourism Organizationtourist arrivals into Africa in the year exceeded 49 million and are likely to pass the 50 million mark in
Comments
Post a Comment