We will be discussing the 15 lucrative small business ideas in Nigeria and all you need to know. Pay keen attention as we progress.
Top lucrative business ideas in Nigeria are the most trending topics online. Do you want to start your own small business but do not know where to begin? Have a look at these essential traits that will help turn any entrepreneur’s dream into reality. There are some surprising facts about Nigerian lucrative business. Let us explore them.
What are lucrative businesses?
Lucrative businesses are thriving businesses that can grow quickly and provide you with a good living. Mainly, they are small businesses that require little capital and hard work, and determination. They are also profitable daily income businesses you can venture into with less capital.
15 lucrative small business ideas in Nigeria
In Nigeria, the small business sector is a large industry that has an annual turnover of about 150 million naira or even higher. The list of top lucrative small business ideas in Nigeria includes:
- Poultry farming
- Home gas refilling business
- Ice block and pure water sales
- Car wash business
- Online and offline ICT and lesson centers
- Egg distribution and sales
- Okrika Bale and clothing business
- Small chops packaging
- Tailoring and fashion designer
- POS business
- Cake and catering centers
- Hair cut and hairdressing business
- Cosmetics, make-up training, and skincare
- Blogging and SEO content writer
- Keke or Uber driving business
About Lucrative Small Businesses in Nigeria
In Nigeria, small businesses are one of the most popular forms of work. These enterprises employ about 50% of workers and produce over 70% of GDP (Nigerian National Bureau). What kind of business can I start in 2021? The most successful small businesses in Nigeria? What business can I start with 50k? This article will explore these questions!
What kind of business can I start in 2022?
Because of the rise in the cost of food currently, it is advised now to venture into the food business or other thriving businesses. When compared to other countries in Africa and around the world, Nigerians are very active entrepreneurs, with 14 million people involved in this field. One must be careful when starting out. Businesses for 2021 include::
- Poultry and animal farming
- Farming of different seasonal crops and sales
- Online and offline tutoring
- Hairdressing and haircut
- Tutoring children in robotics, scratch, and other programming languages
- Boutique
- Real estate business
- Writing engaging content and blogging
- Affiliate marketing
- Security services
- Printing and cyber cafe business
- Rental services
What are the most successful small businesses in Nigeria?
If you are willing to look into it more deeply in the most successful small businesses in Nigeria, then there’s no question about how rewarding this can be for both yourself and future generations. The list includes:
- Palm oil storage and sales
- Poultry farming
- Seasonal Farming
- Food supply and sales
- Local food restaurants
- Cybercafe
- Fish farming
- Private lesson tutoring
- Sales of phone accessories
- Rentals and events planning and decoration
- Car wash services
What business can I start with 50k?
There are a lot of businesses to start with 50,000. They are:
- Poultry farming
- Popcorn business in a suitable site like institutions, etc
- Home cooking and food delivery
- Online and offline teaching
- Hair cut and hairdressing
- Tailoring and fashion design
- Cake business
- Plantain chips business
- Small chops business
- Call card business
- Seasonal farming
5 steps to turning a business idea into a lucrative small business
Any business idea can be turned into a physical business by identifying the steps involved in starting it. Therefore, we will list 3 steps to start a profitable small business in Nigeria. They include:
- Studying the environment and knowing the type of business that will sell
- Finding a perfect small business ideas
- Research and planning
- Getting organized and starting officially
- Finding the right financing for your business
5 things needed to turn a small business idea into a profitable business
The few things needed to turn your business idea into reality are:
- Hard Work
- Determination
- Resourcefulness
- Capital
- Planning
- Research
Related Searches- 10 roles of small scale businesses in Nigeria.
Conclusion
There are many business ideas listed in this article. Find the one that will suit your environment. Get the experience and hand-on knowledge on it. Then plan and get things up and running to turn your idea into a profitable business. When you follow the right track, you must reap the fruits of your labours.
