Is there anything more Nigerian than starting your own business?
With huge success stories of entrepreneurs around the World, and particular in Nigeria, Nigerians see what a good idea and hard work can accomplish. Nigeria is blessed with lots of business opportunities, and many regularly hear that independent streak calling them but are afraid to take a step.
In the first quarter of 2015, the unemployment rate remains around 7.5 percent, that means that many Nigerians have been unable to find a full-time job with an employer, so they may be looking for ways to earn a living on their own.
That is, about 17.7 million people, aged between 15 and 65 are either unemployed or underemployed in the labour force in the first quarter of 2015.
Is there anything more for you than starting your own business?
Starting a business in Nigeria, especially at this present tough economic condition can be challenging. It’s like a long hard slog, and statistically your new business is destined to fail. But starting is only a problem you will face if you already have a business idea.
Whatever you wish to do; whether you want to make some money on the side, run something from home, or create the next big thing, here’s a list of some successful business ideas that will get you thinking. Most of these businesses can be started on a low capital.
- Domestic Service Businesses
These are great businesses that are easy to start without any setup cost. If you are willing to serve others, then there are many untapped opportunities for you in this area.
Some examples of domestic service businesses include:
- Contract Cleaning
- House Cleaning
- Furniture Repair
- Lawn Care
- Carpet and Furniture Cleaning
- Specialist Commercial Cleaning
- Disaster Restoration Services
- Catering Services
- Personal Chef
- Gardening Services
- House staging
Domestic services offers opportunities to entrepreneurs who are motivated and energetic.
- Professional Services
On the surface, a professional service-based business may seem so easy to starting . You may have the required skills to deliver high-quality work and results to your prospective clients, so you set up a nice website and spread the word among your contacts that you’re looking for clients.
But starting a business, especially a service-based business, may not be that “easy” as it seems. You might need to spend long hours, face difficult clients, contend with frustrating projects, and many other obstacles along the way. But if you can persevere; the rewards far outweigh the challenges you’ll face along the way.
Below you will find a list of some profitable service-based ideas that you can start as a professional.
- Financial adviser
- Business consultant
- PR (public relations) services
- IT support
- CV/resume writer
In starting, you might not need to take on any investors, bank loans or order products. This will allow you to scale your services as you grow. A service business is much more flexible and adaptable than a product-based business. In addition, you can work whenever and wherever you want, you can also easily make adjustments and tailor your service to suit your client’s needs.
- Online Business Opportunities
- Affiliate marketing
- Virtual stores
- Copy writing
- eBook Creation
- Generic freelancing
- Transcription services
- Starting an agency service
- Make and flip apps
- Training services
- Virtual assistance
- Buy and sell domains
- Holiday rentals services
- Selling photographs
- Market research services
- Become a YouTube celeb
Before you get started, do more research about the particular online business idea that interest you. Build a social media presence and do some SEO to get organic traffic.