As the year 2016 comes to an eventful end, many Nigerian entrepreneurs are at that point where they evaluate their various money generating vehicles to see which performed well.
Knowing that to be able to succeed in business in 2017 one would need a robust financial strategy, this article seeks to help provide 6 valuable investment options, businesses and alternatives for business owners.
Here are the top investment vehicles that will make 2017 a financially rewarding year :
6 Places to Invest Your Money in Nigeria in 2017
Bonds are not a popular investment vehicle especially among brick and mortar business owners. This doesn’t make them any less valuable.
Bonds are actually a profitable route for investing going into 2017. However there are a couple of things to note before dipping your feet into this pool.
The first thing to note is that before investing in bonds, you’ve got to have a clear and objective financial strategy. This is important for those just going into business for themselves.
As with all things money, there is need for you to clearly outline the path the funds to be invested will take and what your expected yield will turn out to be.
Bonds are a good long term fund culture room as they help to cater for the future of the business.
A second thing to note is your risk appetite. There’s a need to know how far you can go in hedging your funds in bond instruments. This largely depends on how much you feel comfortable putting aside for the long term growth of the business.
Finally and most importantly, do some much needed homework. Reading this article is a good start but it doesn’t end there. Keep up with business newspapers and other finance learning platforms to get yourself with the rules of engagement and the tenets of investment in such vehicles. You’ll be amazed at the truckload of information you can glean by being intentional in your search.
2) Real Estate
This is another top end investment option. Due to the current financial clime the continent presently finds itself in, folks are in desperate need to pay bills and maintain liquidity.
This is the right time to acquire a landed property. The benefit of investing in landed properties is the fact that their value is certain to appreciate over time.
Going into 2017, it’s important that you tie some cash in this instrument. Even if you don’t get to sell the property purchased, it can serve as a good collateral for future times when you may need to apply for a loan.
It’s also important one is enlightened on the growth and development of certain areas which can offer prime value in the not so distant future.
Your business can also benefit from such investment especially when you’d need to set up structures to support business growth.
3) Bank Instruments
Banks are in the attitude of doing promos towards the end of the year to close more accounts. You can take advantage of this. However, it’s important you pay attention to the prospectus or documents detailing the terms of the offer.
Make sure what they say is gain or of benefit to you and your business actually turns out to be so. Start by asking to have such documents and checking up with your financial advisor or anyone who has a good sense for financials.
Also, one mistake most folks tend to make is speculation. Don’t be carried away by rates and ‘juicy’ offers. Stick to the plan and make sure most importantly that you’re dealt a good hand.
4) Car Rental
This is one business that is certain to gain traction in 2017. With the acceptance of ride sharing by the middle class and the increase in the number of platforms providing such services ably led by Uber, this is the guaranteed business for 2017. No jokes!
All you need is to get a few friends of yours to contribute their funds or unused vehicles into a pool and find out the terms of these platforms for getting vehicles on their platforms.
Also, make sure that the vehicles are in good condition to avoid breakdown and consequent loss.
5) Food Business
There have been several articles written on this platform about food business in Nigeria. In 2017, food will still be bae. You don’t need a prophet or a soothsayer to tell you this.
Choose a value chain to operate in and make sure it’s one you have a reasonable competitive advantage in. Also there’s a need to make sure that you get the right location when starting out.
6) Clothing Business
People will still wear clothes whether recession likes it or not. If you’ve got a flair for clothes and fashion in general, 2017 is the year for you to throw yourself into the pool of enterprise.
You’ll need to come up with designs that will thrill your clients and customers and just get a few ‘people’ people to help you promote your works .
Take advantage of social media and promote your work viciously. That will give you an unparalleled advantage over those who don’t know how to.
There you have it! Let’s make more money in 2017 shall we?
I’d love to read your thoughts in the comments below as always.