Yes, in Nigeria, business opportunities abound so much so that if everyone in Nigeria or the majority of persons running up for tertiary education chose rather to invest on start ups and other business opportunities in Nigeria, the economy’s stability and wealth buoyancy would adjust to the most possible positive extent of stabilization within just a few months.
Sadly, this wouldn’t happen this way because almost everyone prefers to get a degree and come work for existing organisations and business companies. It has been globally acknowledged that in terms of business, Nigeria is one of such best places to be for entrepreneurial engagements. Nigeria’s richest man Aliko Dangote is an international name whose affluence and wealth value isn’t new to any informed entity in Africa.
More so, with Nigeria being among the world’s top oil producers, there’s too much international attention on the country as a very lucrative environment for Businesses of all kind.
Amidst existing businesses in Nigeria are also dormant business ideas and opportunities waiting to be picked up and developed by focused and goal-oriented individuals.
However, if you’re having a hard time identifying Business opportunities in Nigeria, then I think this article should really be of much help.
How to Identify Business a Opportunity in Nigeria
1. They are Usually Associated with Existing Problems
Business opportunities are usually linked to problems. What this means is that if you can identify a series of problems around you, the probability that you can actually develop a business idea from more than one of these problems is greater than 1. In effect, if you learn that as a result of bad road within your neighborhood, cab drivers usually drop off their passengers at a junction about 1km away from your neighborhood, you can actually develop a good transport business by looking for a second grade type of automobile or cab with which you can convey persons from that junction to the actual vicinity and with you being the only current person on that agenda, you’re definitely building a house of Gold with this. So business opportunities in Nigeria are usually linked to existing problems.
2. They Give Rise to Curiosity
There are feasible business opportunities and non-feasible ones or opportunities that would not lead to success. Because there are so many business opportunities in Nigeria, definitely not all of them are going to work for you. A good business opportunity or one that would work for you would actually get you curious about it, about understanding how exactly it operates, it’s pros and cons, what things to do to increase success and what things you must avoid to escape problem. If your curiosity is able to be satisfied by a 3rd person or you’re able to research and find answers yourself, then it’s a perfect leaf.
3. Their Success Potentials are Usually not Obvious at First Sight
Sometimes, ideas and opportunities seem too good to be true and you might be getting into a whole lot of trouble by diving into such escapades. A good business opportunity in most cases does not project it’s entire success characteristics to you, you can only have a fore glimpse or fore-idea what it entails which may or may not build your curiosity. If your curiosity gets built, it’s a good sign. You get to understand the business before the understanding of its success potential is made available to you. If something appears too good to be true, it probably and possibly may not be true.
4. They Usually Involve Physical Goods Or less Service
A good business opportunity in Nigeria requires tradable material goods, intellectual services or some other form of services. A business proposal or opportunity that does not include any of these, is definitely a fraudulent one in exemption of crowdfunding. If the opportunity available to you involves the physical exchange of trades either buying or selling or offering a service for a monetary compensation, it’s a good
sign to consider. In Nigeria, not all available business opportunities run this way, a lot has changed and many who do not operate this way are practically unrealistic and more of parasitic engagements.
5. They are Usually Overlooked
Most business opportunities that worked for people in history are usually overlooked and not even birthed. Who ever thought of making cements before Dangote birthed and developed the idea? No one, the idea was simply obscured. Then who ever thought blogging could be a career, even a lucrative one previously? Blogging was never anyone’s dream and no one really wanted to be part of something that had no monetary compensation, but Linda Ikeji took up blogging, concentrated on it even when there was no compensations coming from it, she immersed herself in it and finally it paid off, now she’s practically living large and living her dreams. So most successful business opportunities are usually looked down upon.
7. They Do not Require Much Starting Capital
There are also Business opportunities which are popular already and people are making tons of fortune from them in Nigeria but then it may not be very much easy trying to queue into a system that has been saturated already, it takes time for you to join the thriving team so the best procedure is trying to think up something that never existed or never had too much attention already. This brings us to highlighting the trait of most good business opportunities in Nigeria which is that they usually do not require much starting capital.
For instance, you would agree with me that candle sticks are still good and fast selling products in Nigeria inasmuch as we’ve gotten civilized to the point of having an electrified nation but then the incessant problems with poor electricity services means that in remote or rural areas where generators aren’t rampant, candle business is lucrative. And the surprising thing here is starting a candle production company or team doesn’t really require huge financial investments. In fact, it’s one of the less investment budget manufacturing businesses.