The Nigerian business environment currently is very tough, that is the bitter truth. It is worsened by the recurring decline and devaluation of Naira in the global market.
The Naira’s current value is frustrating because you can rarely buy anything of good quality with a few Naira notes. You need to cough out large sum of the Naira to get something good in the market.
This situation is frustrating small businesses in Nigeria and has stifled their growth over time. However, there 20 businesses you could establish in Nigeria if you are able to save up to N100, 000. Some of the businesses would even require less.
These businesses are based on the Nigerian business environment and I am going to be a bit informal in explaining those business ideas.
1. Bedsheet/Beddings Production.
Visit Lagos Island, or Oshodi (all in Lagos) where they sell bulk materials, pick good designs and I tell you there good guys who will sew it in those same market. You can start will less than 100k and diligently grow your money.
2. Shirt Production:
This is quite similar to the first business idea. There are tailors in Lagos Island or better learn the skill, it will save you all the heartbreaks imaginable we have seen from tailors.
Visit Taiwo Street in Lagos Island, that is where you should be. You could get shirt materials ranging from N700 – 1,000 per yard, sew for N1500/2k and sell for N5-7k.
3. Boxers:
You need to find the best market where they mass produce this. I will advise you plan a trip to Aba Market.
You could get one for as low as N300; all you need is to package it in (3 in 1), and deploy a good marketing strategy. People buy 3 in 1 pack boxers N1500/2500; sell yours at the rate of N1200 and gradually grow.
Snail Farming
This is a business you can start from your backyard. Bear in mind, snails take almost a year to mature, so “Patience is Key”. However, there is usually a good return on investment.
4. E-Payments and POS Business:
This is cool if you can a get a POS machine from your bank, and activate online banking: If you live in a place where banks aren’t much you can handle e-payments for people and make returns. This business can work in Lagos because people are always queuing up to withdraw money via the ATM machine.
5. Mobile and Electronic Accessories:
Mobile and electronic accessories such pouches, chargers, USB cables, HDMI cables, earphones and more, can be sourced on Alibaba, Ali Express, Deal Extreme, etc.
The more you buy the lower the price. And they are light items, so shipping won’t be a burden. Open a store on ecommerce sites and sell.
6. Popcorn:
We all know this guy! We buy every time. Buy bags of corn in Mile 12,Lagos; branded nylon, sugar, salt & butter. The beauty of this is when properly made, its aroma will attract customers. Manual sealing machine -N7/9k, Popcorn Machine is 65k on Jumia. It costs less than N40 to make a pack of popcorn
7. Branding – Sales and Customizing
Sales and customization of jerseys is a business that has been in vogue for a while and people are making money from it. There are places you could learn the skill and set up. You don’t even need up to N100,000 to start
To be continued…
