BUSINESS IN NIGERIA - 001

PIX CREDIT: ANDY WARHOL

Nigeria is a great country. It is lacking good leaders. This terminates her youths’ financial empowerment completely. There is no good paying jobs powered by the government. This has lifted poverty level in the country by 20%. 70% of Nigerians want to start their own business due to lack of jobs and youth empowerment.

Getting loan is not that much an easy process. You must have a business or something that could stand as collateral. This makes it almost impossible for the young upcoming entrepreneurs to get loan of good amount that could empower a standard business at the beginning. But we will survive.

I have done my research and I wish to use this diary to ear mark:

1. Ways one can start a business with little startup capital.

2. List types of businesses one can venture into, in Nigeria.

3. Inspire some few business ideas.

IT MUST BE AUDIBLE TO THE DEAF & VISIBLE TO THE BLIND.

Business according to the LONGMAN DICTIONARY OF CONTEMPORARY ENGLISH is defined as the activity of “making money” by producing goods or buying and selling goods or providing services. –emphasis.

Three categories of business I would recommend:

1. Producing goods.

2. Buying and selling goods.

3. Providing services.

There are long term businesses and there are short term ones so I strongly recommend short term ones if you must start up something in the quickest possible time frame.

Long term businesses can be importation, blogging, fish farming, poultry farming and other agricultural production, etc.

Short term businesses can be buying and selling of commodities, providing services etc.

Before you think of starting any business, make sure you:

1. Make research on resources available e.g. fixed resources / essential amenities like land, water, electricity, internet connection, network service, vehicles, laptop/ computers, etc.- what do you have?

2. Study your area to know what is trending – locally and globally.

3. Study you hobby, your background, your culture, your environment.

Just make research and study your choice business well before you go into it.