Below are 6 important business which will do well and bring a lot of income to every individual who intends to go into business.
2016 and 2017 were years filled with so much challenges that people were not prepared for, and surviving it is a great reason why you need to invest wisely this year. To this effect, we have brought you 6 business which will boom this year and bring a lot of good returns.
Weather we like it or not, movement is part of life, and every businesses requires moving from one point to another, either to deliver goods, or to render services , etc. 80% of this movements requires using a means of of transportation either by air, road or sea.
But in this section, I will be telling you how to invest in road transportation.
Investing in road transportation as a transporter or a driver or rider, etc…. Requires that you are moving people from one point to another or to their different destinations, in so doing you make money through transportation fares. People usually wonder which of this type of road transport gives more money ?
The truth is that any inter-state transportation is the highest in terms of more income, followed by tricycle or the popularly called “Keke Napep” or “Maruwa”. After this you get other road type of transportation.
Every Vehicle no matter who manufacturers it, at some point in time, usually break down, and as a result requires spare-parts to fix them in other to work normal…to this regards, spare-parts business is very lucrative and gives a lot of income.
Investing in it this year will bring you a lot of income and to achieve this, requires the environment or location you find yourself. The types of vehicles plying that route.
This year, e-commerce business is going to be one of the key major areas that will do well this year. To this effect, it is very important to look around your area and fine that which requires immediate solution by providing an online services.
The rise of oil in Nigeria, shifted the nation’s attention from agriculture, which is a strong pillar of any economy, and a mass employer of labour. The recession exposed this weaknesses, and at the same time made agriculture more attractive. In 2018 agric-related businesses is going to boom. Scarcity of dollar, will force many people to patronize our local produce. Besides, poultry eggs imported from South Africa, are not better than poultry eggs produced in Nigeria. Some species of local rice are now competing in quality with foreign rice especially after processing. The introduction of the deadly plastic rice should encourage more people to try premium local rice. However, local rice farmers should add value to their rice, by cleaning it and processing it further, to improve the quality. Agricultural research centers in Nigeria should also improve the breed of rice seedlings so we can produce similar quality of rice like Thailand.
Anyone who desires to go into farming, should identify products that are previously imported and delve into such sectors on a big scale. Rice, Tomato, Poultry, Fish etc.
Another lucrative area in agric-business for 2018, is food processing. Despite recession, Nigerians have taste. Top supermarkets like shoprite are now looking to source most of their groceries locally.
However, they will never display it, the way it is seen in local open markets. Smart entrepreneurs should seize this opportunity to package local foods properly and seek for partnership with both international and local supermarket chains.
The third aspect of agric-business that will do very well in 2018 is exportation. Some farmers have been exporting their produce for our brothers and sisters in diaspora and for the international market. However with the increase in dollar price, any export based business will be swimming in cash this year.
The recession hit hard on big manufactures that needed imported raw materials to produce their goods. This led to the closure of several big manufacturing firms in 2016 due to scarcity of dollar to import their essential raw materials. In 2018, this area presents a great opportunity for smart entrepreneurs. This is because the scarcity of dollars also made every imported product very expensive. Local manufactures who do not need require foreign raw materials are swimming in cash and 2018 will be a bigger year for them. Eva wine originally made in spain, is now produced in Aba. The good thing is that previously, many people will not buy drinks made in Aba, but today Aba manufacturers are proudly displaying their names on wine bottles! There are so many small things you can manufacture in this sector that will boom this year. Look around you and apply critical thinking.
We love Italian furniture, but the price tag today, is driving even the big cats to the local market. Smart entrepreneurs, will have a windfall this year, if they invest in local furniture. Packaging is everything. Some of our highly talented carpenters, can effectively duplicate Italian furniture. Smart entrepreneurs will package it and sell in high urban areas for greater margin. Remember, the current chairman Mrs Ibukun Awosika, made her wealth on furniture, through her company SOKOA Chair centre Ltd.
2018 will see the rise of many local fashion designers. A friend of mine, who usually buys all his shirt from USA, completely abandoned the habit in 2016, because the current cost of such foreign shirts, really makes little sense, when you discover that local fashion designers can make something similar, at a fraction of the cost.
The truth is that 2018 is the best year for anyone to launch into entrepreneurship. The market is now ready to accept local services and products, more out of necessity than patriotism. Before the year is over, the market will be convinced that Nigerian are not lazy nor dumb, and can produce similar or even better quality of goods and services to china.