small scale business plan in nigeria

50 Best Small Scale Business ideas in Nigeria

By: Author Tony Martins Ajaero

Do you want to start a business in Nigeria with low capital? If YES, here are 50 best small scale business ideas & investment opportunities in Nigeria .

Starting a business isn’t a luxury but a necessity for anyone whose aim in life is to make good money and become a millionaire fast in Nigeria. This is one of the reasons why you have got to look at starting a business in Nigeria.

The ground is so fertile and there are loads of people to patronize you especially in cities like Lagos, Abuja, Onitsha, Portharcourt, Aba, Kano, etc.

Even though entrepreneurs complain of the heavy taxes they are subjected to pay, it cannot be compared with doing business in some other countries. Here are some very lucrative business ideas to look at;

Best Small Scale Business Opportunities in Nigeria

Cities: lagos | abuja | portharcourt | ogun, raw food stuff business.

This is one profitable business that can bring in good returns on investment in Nigeria. Nigerians are people who love to eat more homemade foods than the fast foods, unlike their foreign counterparts. Things like rice, beans, garri, amongst other things are what would be sold.

Call Card Business

This type of business is also known as the recharge card business. There is hardly any adult In Nigeria who doesn’t own a phone. This is one of the reasons why those in the recharge card business are doing so well. You too can join the train as you begin to tap into the market.

Daycare Business

There will always be the need to make a living even after giving birth. This is one of the reasons why day care centers make good money. The services they render is second to none and is indispensable. If you have a penchant for babies and kids, then you can consider starting a day care center.

Dry Cleaning Business

This is one of the fastest growing businesses in Nigeria. A lot of people have done really well in this business and still are doing well. There are a lot of people who are too overwhelmed by work that they may not have the time to wash their clothes. Therefore, you may want to look into starting a cry cleaning business.

Restaurant Business

In Nigeria, the restaurant business have always been on the rise. This means that it doesn’t go out of fashion. If you think that you are a great cook, you can start a restaurant business. You will be required to do a lot in the area of cooking very great meals.

Car Rental Business

Cars all over the world isn’t a luxury but a necessity. There are times however when some people may be in need of car services. This is where a car rental business comes to fore. Be sure you understudy an expert who can make you learn all the ropes within time.

Bakery Business

People all over the world love to eat baked things. Nigeria is one of them. Before you start out it is vital garner all the necessary information that you will need along the line. You will need to go to a school that offers baking services if need be. You will need other things too to get started.

Hamper Business

In Nigeria, there are seasons when the hamper trade is really an all-time high. If you know you have the knack for gifts, then you can look into starting a hamper business. You will need to decide if you want to deal in already assembled hampers, or if you want to be the one assembling it.

Film Production Business

Nollywood is one of the fastest growing film industries in the world. Every often block buster movies are being churned out and those who are the helms of affair when it comes to film production are doing all they can to see that great movies are produced. You too can join the bandwagon when you start a film production business. You do not need any qualification to join the train.

Graphics Design Business

If you are arts inclines and are looking for an arts related business to start, then you can look into the graphics design business. One of the good things about this business is that you can acquire the skills that is involved from the scratch and then expand on what you have learnt

Phone Repair Business

There is hardly any adult who doesn’t have a phone in Nigeria. This only goes to show that the phone business and other businesses surrounding it is really a worthwhile one. You can garner the phone repair skills so that you can delve into the huge market that is in existence.

Gym Business

Fitness has always been a source of concern to Americans, and Nigerians have also caught the bug. This is because of the high rate of cancer that continues to ravage people. If you are a fitness and health enthusiast, then you can look towards starting a gym related business. You will need to have enough finance to equip your gym center.

Wine Bar Business

From clubs, to restaurants and even in homes, wine is usually consumed. If you know that you are a wine connoisseur, or are in love with wine, then you can look into starting a wine bar business? You have to make sure that the location you choose for this business is a good and promising one.

Internet Radio Business

If you are interested in going into the internet radio business, then you should be conversant with the fact that it is a different kettle of fish from the traditional radio business – especially as the source for your internet radio business is a computer. Before starting this business, you should know what topics you would need to discuss to appeal to your target market, and what kinds of business you would be concentrating on.

Transport Business

The population in Nigeria is huge and a lot of people are looking for a good living. People move from one spot to another to make ends meet. You can be the problem solver by starting a transport business. Before you start, you will need to determine if you want an interstate service or an intra-state shuttle.

Jewelry Line Business

Sourcing for materials to use for your jewelry line business will mean you looking for reliable suppliers and getting your materials in bulk so as to cut down on overhead cost, and make your jewelry affordable. You would also need to create an inventory system for your materials so that you could be alerted when they run low.

Mobile car wash Business

Mobile auto car wash eliminates the need for a physical business location, therefore limiting start-up costs considerably. Start a mobile car detailing business with inexpensive supplies and tools and grow as needs arise. As a mobile detailer, you will perform jobs in customer parking lots, driveways and garages, giving you the advantage of visibility for marketing purposes. The downside includes not being able to work outdoors in inclement weather and the limitations of having to travel with all necessary tools and supplies, including large quantities of water.

Party Rental Business

A party rental business is indeed a good way to make extra money and in the long run can turn into a lucrative, full-time business. People love to have party in Nigeria, and there are times when some party rentals might not give one what they want. You can bridge the gap by starting a party rental business.

Pizza Delivery business

Starting a pizza delivery business is a profitable business venture, and can yield a high profit margin for any entrepreneur who is serious about the business. With pizza, you get to be creative as well as learn how to cook. You would also need to be as creative as your mind can possibly conceive; pizzas come with different options such as chicken pizzas, Hawaiian pizzas, Italian sausage pizzas, barbecue pizzas, as well as other traditional cheese, and hamburger pizzas.

Nursing Home Business

Home nursing businesses are a growing field with increasing demand driven by an aging population. Today’s health care offers more forms of surgeries, interventions, and elective procedures–often leaving patients needing temporary home nursing care.

In addition, members of the elderly population who don’t want to leave their homes for an assisted living facility or nursing home often elect ongoing home nursing care. For an entrepreneur looking to get into the home nursing market, establishing the business is usually more challenging than finding a customer base.

Poultry farm Business

Starting a poultry farm might appear easy but starting it as a business too is something entirely different. This means that you are not only just a chicken farmer but an entrepreneur as well. Starting this business you would need to define your target market. And the part of the chicken industry you intend to go into. The chicken industry has two main parts; Layers, where the chickens bred also lay or produce eggs, or Broilers, where chicken are bred mainly for meat.

Cosmetics Business

If you love beauty, then going into the cosmetics business is one of your bet. For you to do really well in this business, you will need to engage in some deep research. Why is this important? This is important because you will need to learn new things about the cosmetics industry that will help your business.

Microfinance Business

If you have the capital or are sure to get well-meaning partners to float your microfinance business, then you can look at starting a microfinance business. You have to have a good business plan to do this. A business plan will help you know what and what to do per time .

Tailoring Business

The art of tailoring have been in existence from time immemorial. This means that it didn’t just start recently. If you have an eye for fashion, then you can begin to work on delving into the tailoring industry. One of the good things about this trade is the fact that you will beautify people for a fee.

Insurance Agency Business

The idea of creating a niche to grow your book of business for insurance agents is certainly not a new idea. However, It is often heard from insurance agents wanting to find their niche market, but unsure of where to start.

Tomato Farming Business

Starting a tomato farming business is a rewarding business that is not too expensive to start up. However, before you start your tomatoes business, find out what kind of tomatoes people usually want. This information can be gotten from those who supply seeds, as they will be able to tell you what is popular and what isn’t. Also, they will let you know the varieties that sell well; however, you will also need to ensure that the seeds you finally pick will grow well in your climate.

Wood working Business

Starting a woodworking business is a great way to turn a hobby you enjoy into a money-making venture. Wood items are popular and make great decorations and gifts. But starting a woodworking business involves more than creating wooden objects. It requires research and planning particularly in marketing and business management.

Agricultural Business

If you think that the idea of starting a commercial farming business goes down well with you, then you can start an agric related business. One of the things that you should have at the back of your mind when you want to start this business is the fact that you have to first of all come up with the crops that move pretty well in the market.

Fish farming Business

Delving into the fish farming business means that you must have knowledge about the business. Why is this important you just might ask? This is especially important because you do not want to come across as a dullard who is in business. You can start out by carrying out a thorough research on the internet .

Organic farming Business

A lot of people because of health reason are opting for only organic products. These products take time to mature unlike the hybrid counterpart. If you have a penchant for healthy living, you may then consider starting an organic farm business.

Shipping Company

The major factor that encourages to venture into this industry is its viability as a profitable venture. The lucrative nature of the industry is unparalleled and it’s indeed one of the few industries in the world which has the highest number of turnover in terms of profit and otherwise.

Real estate Investment Business

Real estate investment is a very attractive avenue for wealth building , as there are few other business opportunities where the potential for income is so high. However, it can be a very risky endeavor to step out on your own and jump into a volatile market. Navigating the financial and legal issues surrounding real estate investment can be an incredible hassle. Still, thousands of people are doing it every day and the smart ones are coming out on top.

Electronics Repair Business

To start an electric repair business is simple and you will need to learn all the ropes. An electric repair business has unlimited profit potential and a low start-up cost. This industry boasts of a lot of people who have done really well for themselves. In Nigeria, people have continued to require the services of an electrician.

Courier Service Business

There is a lot to be tapped from when you start a courier service business. What is more, there is a lot of profit in this business. If you think this is a type of business that you want to start, then you must first and foremost get all your facts together. After you have done that, then be sure to write a business plan to guide you as you start out

Freelance Writing Business

It’s very possible to become either a full-time freelance writer earning a living, or to be a part-time freelancer supplementing a regular paid income. Another role is to simply do it for fun or to build up a broader portfolio of skills. In this article, you’ll get the basics on what it takes to ease your way into freelance writing as a career or to be put properly, turn your writing hobby into a career that doesn’t affect your day job.

Motherless Children’s Home Business

Homeless kids will always seek for refuge in places where they are accepted. This is one of the reasons why you can start a motherless kid’s home. This of course will float as a nongovernmental organization, but in the process you will make your own profit and get a reward for reaching out to the needy people.

Arts and Crafts Business

If you have ever had a heart to heart business talk with a business expert, chances are that you may have been intimated on the point that being wealthy isn’t about working and earning wages at the end of the week or month. It is about having various streams of income. Being wealthy and successful is no child’s play at all. As a matter of fact being wealthy has a lot to do with how many businesses you have and how much profit you are able to rake in after a period.

Clothing Store

The clothing store (boutique) industry comprises of small retail stores that sells a limited range of clothing and accessories. The industry is defined as single-establishment stores only. Clothing stores (boutiques) can be strictly designer based (i.e. only one designer’s collection is sold there ), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market.

Chiropractic Business

There are several businesses that revolve around medicine. This means that if you have the penchant for going into a medical related business, then you may want to consider the chiropractic business. This trade has been in existence for centuries. You may want to consider this business by first learning all that needs to be learnt before venturing into the trade. This is o that you are not found wanting in any area.

Pest Control Business

If you are thinking of starting a business that can guarantee you steady income, then one of your options is to consider starting pest control business. Pest control businesses is a business that is involved in removing or eradicating potentially harmful insects, rodent and reptiles from, farms, commercial and residential properties. These days more than ever before in the world, more and more people are conscious of eradicating things that might bring ill health to them. So you will find that it is a very good business to start.

Screen Printing Business

The screen printing business is some kind of business that anyone who wishes to make good money from should look up to. This is because of the level of profit that can be acquired in this trade. If you are looking to start this business, then you have to be sure that you have ample time to learn the trade. One of things that will make you stand out in this venture is the level of know- how that you exhibit.

Gaming Business

There are a lot of people who love games. This should be one of the things that should drive you. Starting a gaming business requires that you first lean the ropes from those who have gone before you. After you have done that, then you can begin to look at how to set your own business up.

Fabric Business

The fabric business is a very wide one in Nigeria as there are loads and loads of variety of fabrics. Before you begin to look at starting operation, you have to be sure that someone who is already doing well in the business is able to mentor you. Mentoring is important so that you can start out well.

Auto-Repair Shop

All over the globe, the auto repair business is such that is important. This is because of the need to have cars fixed. One of the things that must be done before even commencing this type of business is learning all that is required to be known in the auto repairs business. This means that you will be required to go and garner some good skills in this light.

Aquaponics Business

If you have been looking to start a business that is agriculture related, then you may want to consider starting an aquaponics business. This is one area of trade that sure can guarantee good returns on your investment. However, just before you begin to build this business, it becomes expedient that you garner all the knowledge and skills that you are required to, so that you do not start out on the wrong footing.

Funeral Home business

If you are in need of a business that will always provide services that would never go into extinction, then delving into the funeral home business should be a business you need to consider. Although most people would rather do some other form of businesses rather than opt for funeral business because of its delicate and emotional nature. However, fact remains that this business is a money spinner and it will always stand the test of time.

Pizza business

Pizzas can make a pleasant meal. In fact there are people who are addicted to it. They could have it over and over again. This is why those who are in the business have continued to make good money. Opening a pizza business might be one of the best moves to make. This is hinged on the fact that there are a whole lot of people who are into the consumption of it. Starting a pizza business doesn’t cost a fortune, as you can start with some small amount of cash and then grow with it.

Solar panel repair business

The solar panel repair business isn’t for everyone. This is because it has a very technical aspect that requires lot of patience and handwork. If you do not have a penchant for technology, then you may want to look elsewhere. However, if you do have a passion then you will excel in this trade.

Consignment Business

The consignment business dates back from time immemorial. It is a very profitable business that can guarantee nearly a 100 percent profit. It is pretty easy to start and it doesn’t require an expertise. All you need to do is have zeal to want to pursue the business.

Cupcake Busin e ss -: There are cake addicts all over the globe and Nigeria isn’t left out/. As a matter of fact it is one of the countries where cakes are consumed. Therefore the American market would serve a great m
Boutique Business-: Despite the hardship that may loom in Nigeria, people just love to look good. You can therefore, cash in on this and start a boutique business. You will need to determine where the things you want to deal in would be sourced from.

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How To Write A Business Plan In Nigeria (Free Samples And Templates)

This post concludes is the last of the series on “How to write a business plan” . The major challenge when it comes to writing a business plan is knowing where to start from. This most business owners and entrepreneurs don’t always get right. Looking through existing business plan templates gives a clear picture of what your business plan should look like.

This post contains a long list of free sample business plan templates that will give you the easy start you really need to write your own business plan.

1. Catering Business Plan

If you love to cook and are thinking about starting a business, combine the two and start a small catering business. But how do you start a small catering business? It’s by having a great business plan detailing every aspect of the business before you get started.

2. Event Planning Business Plan

Starting a catering business in Nigeria is a lucrative business with very good returns, with thousands of events and parties happening every weekend across the country. Event planning business requires a combination of education if necessary, an experience and excellent networking.

Also Read: How to Write a Business Proposal for Clients in Nigeria.

3. Hair & Beauty Salon Business Plan

Salon Business is one of the best and lucrative business in Nigeria right now because it does not cost much and requires little capital to start. Either a barbing salon or beauty salon for women pay a lot because it requires no college degree to start one but skill.

4. Day Care & Child Care Business Plan

Many Nigerian mothers are working at paid jobs or running their own small businesses which consume most of their time. As a result of this trend, there is a growing opportunity for convenience services like child and day care center businesses.

5. Driving School Business Plan

Are you an expert driver? Can you successfully teach others how to drive? If yes, you may be qualified to start a car driving school. There is a great opportunity in this business because most Nigerian are looking forward to owning their own cars. School leavers are also eager to learn how to drive.

6. Agriculture Farm Business Plan

Nigeria is blessed with a favorable soil and climatic condition that can accommodate crops such as onion, carrot, cocoa yam, pear, potatoes, okra, vegetables, beans and so much more. Starting an agriculture farm business is a profitable business opportunity with so much market to serve.

7. Feed and Farm Supply Business Plan

The feed farm production industry has been largely promoted as one of the most profitable agribusinesses to venture into. Africa, especially Nigeria, has a major impact on the worldwide production and distribution of livestock feed.

Also Read: [PART 1] How to write a business plan – Tips when writing your business plan.

8. Fitness Gym Business Plan

Health they say is wealth; the need for health is the need of all both young and old, both for the rich and the poor alike. Would you like to invest in the fitness business, or are you thinking of a business to invest in? You should consider this business option.

9.Pharmacy Business Plan

Pharmacy or drug store business, whether we like or not, has become an integral part of the Nigerian economy today. In a nutshell, drugstores are described as retail establishments that market drugs, be it prescription-based, proprietary, or nonprescription medicine.

10. Fast Food Restaurant Business Plan

The fast-food business in Nigeria is a very profitable business. Food is something we cannot do without even if it’s once a day. The growing population of Nigeria with over 180 million people is also a high contributing factor to the profitability of fast food business in Nigeria. Amidst the current global crisis, one line of business in Nigeria that continues to promise greater returns on investment is the fast food business.

11. Bakery Business Plan

The consumption of bread and other bakery products such as biscuits, chin-chin, gala and meat pie among others, has created a huge market for the wheat flour industry. This sector has provided a lot of opportunities while more opportunities are still open for interested investors that are willing to invest some cash.

12. Internet Cafe Business Plan

The demand for internet cafe services in Nigeria is high especially in business enabled environments like tertiary institutions, offices and in different work areas. This business is one of the profitable medium scale businesses in Nigeria; the business can give a high-profit margin when managed properly.

13. Clothing Boutique Retail Business Plan

Starting your own clothing shop boutique is a good business idea in Nigeria because the fashion industry is one powerful sector that will always be vibrant in any economy because all over the world, people have a basic need for clothing. Beyond this need, fashion is also evolving on daily basis due to the huge and diverse interest in styles.

Also Read: [PART 2] How to write a business plan – Basic template contents & structure.

14. Automotive Car Repair Business Plan

Nigeria is and will always be a big market for cars, both used and new ones. Compared to other African countries, Nigeria alone spends up to $5 billion dollars every year importing vehicles (especially second-hand) from the USA, Canada, Europe, and Asia. Which makes the industry an area worthy of investing.

15. Car Wash Business Plan

The good aspect of this business is that it does not necessarily require a large amount of capital or funding especially when you intend to start. For those who have enough money to invest, this will be a good decision as with more money invested, the business can grow much better and faster leading to better and profitable returns.

Other business plan samples and templates include;

16. Used Cars Sales Business Plan.

17. Online Print Shop Business Plan .

18. E-commerce Retailer Business Plan .

19. Coffeehouse Business Plan.

20. Night Club Business Plan.

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SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA: THE PROBLEMS AND PROSPECTS

2011, The Collegiate Journal of Economics

Related Papers

Kennedy Ediagbonya

This research paper has specifically x-rayed the concept of Small and Medium Scale Enterprises (SMEs) and it was defined as a business which is owned, led by one or a few persons, with direct owner(s) influence in decision making, and having a relatively small share of the market and relatively low capital requirement. The contributions of SMEs to the economy were examined in this paper. The problems confronting SMEs and the possible strategies of combating the problems were also examined. A conceptual framework was developed by the authors and it explains/illustrates the series of variables that are integral in the area of SMEs and the effects it can possibly have on the economy. The concept of Economic Development was briefly described. A section was devoted to examining the roles of SMEs for economic Development in Nigeria. One of the major recommendations advanced in this paper was that the Government should urgently invest massively in improving the current infrastructural base in the country. 1.0. Introduction The national economy has remained a focal point in recent debates owing to the rising level of unemployment, poverty, insecurity, low productivity, human capital flight/brain drain. The need to advancing the socioeconomic , political and technological growth of any nation relies heavily on the creativity and technical ingenuity of the players/actors in that economy in transforming the available resources into productive use. It has been stressed by scholars that Small and Medium Scale Enterprises (SMEs) is a driving force in developing and developed nations alike. The emphases on SMEs remain a recurring decimal in the lexicon of Nigeria and this is not unconnected with the realization of the roles of SMEs in job creation, poverty alleviation and foreign exchange conservation (Jimah, 2011; Ikherehon, 2002; Akingunola, 2011). Agu (2001) defined SMEs as a business which is owned, led by one or a few persons, with direct owner(s) influence in decision making, and having a relatively small share of the market and relatively low capital requirement. The earliest manifestations of SMEs in advanced countries were coltage industries that later transformed into industrial complexes and tech factories. SMEs today account for the bulk of output in most countries today. It is also a proven job creator: the share of SMEs in global productivity is over 30% higher in some countries, but generally growing. In China, SMEs employ over 50% of the workforce while in the United States (US), SMEs account for over 50% of Gross Domestic Product (Ehinomen & Adeleke, 2012). In Nigeria, SMEs employ over 60% of the labour force both in formal and informal sectors. The need to have a regulatory body to control the activities of SMEs in the country led to the formation of Small and Medium Enterprises Development Agency of Nigeria (SMEDEN) in 2004 by an act of parliament towards the realization of the goals and objectives of SMEs. There is no doubt that SMEs play significant roles in the advancement and development of the economy. Some of these roles which have been briefly identified above remain integral to the progress of the nation. For these roles to be fully realized there is need for our educational system to fully be repositioned with the aim of accelerating the growth and development of SMEs. The establishment and management of SMEs no doubt have numerous implications on the economic development of the nation as documented by scholars in the field. The term Economic development has been defined by various scholars in different ways. According to Misra and Puri (2003), economic development means growth plus progressive changes in certain critical variables that determine the well-being of the people. They assert that there are qualitative dimensions in the development process which may be missing in the growth of a given economy expressed in terms of an increase in the national product or the product per capita. From the foregoing, it becomes obvious that economic development is far beyond the numerical growth in a nation's income which politicians often express to draw the attention of unsuspecting electorates. This growth or changes must cut across all the sectors of the economy and must be felt in the living standard of the citizens and this is what SMEs seeks to bring to reality.

Mediterranean Journal of Social Sciences

REUBEN ETUK

International Journal of Research and Innovation in Social Science (IJRISS)

AIKOR S H I R G B A Timothy Ph.D

In Nigeria, as in many other developing and emerging economies, Small and Medium Enterprises (SMEs) contribute to their socioeconomic development and growth hence, successive governments have invested resources in intervention programs aimed at stimulating the sector to achieve sustainable development. The main objectives of the study are to; review the role of SMEs to the socioeconomic development of Nigeria, identify current government efforts and challenges to stimulating SMEs performance especially as it relates to wealth creation and employment generation. The study found that; SMEs play a key role in socio economic development of the country especially in the area of employment generation and wealth creation. However, there are prevailing economic and political conditions that have not given room for SMEs to thrive, as evidenced in the internal and external challenging factors they are currently facing in the country despite the enormous government intervention initiatives. It is recommended that government should reform the implementation of these initiatives, ensure programmes continuity due to change on government, fight corruption and insecurity, improve on the business environment and evolve youth reorientation programme to cause them to embrace entrepreneurship. The methodology adopted for this work is narrative textual case study.

Ishaq Soliu

St. Clements University, Nigeria (Unpublished …

yemi amoseola

Bimbo Adejare

The purpose of this study is to assess the role of small and medium-scale enterprises (SMEs) as a catalyst to all things good in great economies; however, sadly, Nigeria has been unable to unlock SME development and the many benefits. The paper’s examination revolves around SMEs and entrepreneurial development, employment generation, government policies and financial aid and its availability. With the intention of establishing the relevance of government role in creating vibrant economies via thriving SMEs and its ripple effect on employment generation.,The study adopts a survey design, using a questionnaire for data gathering and percentile, confirmatory factor analysis (CFA) and structural equation modelling (SEM) for data analysis.,The study established a significant direct relationship between entrepreneurship development and infrastructure development and employment generation. Also, there was a significant direct relationship between government policies and infrastructure deve...

yusuf md ashafa

Nigeria is abundantly blessed with all manners of resources but the problem has always been that of mismanagement of these resources. Consequently, the country is facing lots of socio-economic and political problems among which is unemployment. Given the absence of an enabling environment for large scale industrialization, the only way out is by creating employment through Small andMedium Scale enterprises. as in the case of other developing nations. Overall, the Small and Medium Enterprises have been found to be a veritable source of employment generation. However, the accompanying increase in productivity is not commensurate with the level of employment generated. This paper discussed among others the concept of SMEs, a comparative study of SMEs in other countriesAnd the problems and prospects of SMEs in Nigeria. The paper concluded by Proffering ‘solutions to SMEs’ problems through appropriate recommendations. It is hoped that with present administration’s quest to improve the e...

john fowler

Journal ijmr.net.in(UGC Approved)

The study examined the impact of SMEs development on economic growth and development and also identified factors that contribute to the development of SMEs in Nigeria. Structured questionnaire was used to collect data from seventy (70) respondents in different sectors through judgemental method. The method of analysis is that of correlation coefficient and multiple regressions while the method of estimation is Ordinary Least Squares (OLS). The result revealed that SMEs development has significant impact on economic growth and development in term of poverty alleviation and employment generation. The study also indicated that access to finance is a major problem to SMEs development in Nigeria. The study concluded that SMEs development in Nigeria is an antidote to unemployment and poverty. Therefore, paper recommended that government should assist SMEs operators to have access to funds at lower rate of interest and reduce the importance attached to the collaterals and also federal government should provide enabling environment for the SME operators through provision of social amenities and reduction of excise duties.

37 Most Lucrative Small Business Ideas in Nigeria (2023)

Are you tired of working for someone else and never making enough money? Do you dream of escaping that cycle and taking charge of your own destiny? Do you want to become your own boss? If the answer is a resounding "yes," then you're in for a treat. Allow me to introduce you to Tunde, an enterprising soul with a pocketful of dreams and a burning passion for financial freedom. Armed with just 200,000 Naira, he went on a quest to find the most lucrative small business ideas that could pave the way to prosperity.

Now, let's dive into the world of possibilities that Tunde explored. What are the top small business ventures that can turn your modest investment into a successful venture? How can you navigate the Nigerian market and find the perfect opportunity that aligns with your interests and budget?

Join me as I reveal a secret list of lucrative small scale business ideas in Nigeria that you can start with limited funds. Get ready to discover new horizons, and empower yourself with the 37 most lucrative small business ideas to start in Nigeria. Let's get started.

Why Should I Start a Small Business in Nigeria?

There are many great reasons to start a small business in Nigeria. One of them is that Nigeria has a huge population - more than 200 million people! That means you will have plenty of potential customers for your products or services.

But wait, there's more! Here are some other good reasons to start a small business in Nigeria:

Vast Market Potential: Nigeria is home to over 200 million people, making it the most populous country in Africa. This large consumer base presents an immense market for small businesses to tap into. Whether you sell products or services, the large Nigerian market can help your business grow and make a lot of money.

Entrepreneurial and Innovative Culture: Nigeria has a strong culture of entrepreneurship, where people are resilient and creative. It ranks high in global reports on entrepreneurship, showing that people there are good at coming up with new ideas and making small businesses successful. As an entrepreneur in Nigeria, you will be part of a lively community that loves new ideas and celebrates innovation.

Rapid Technology Growth: Nigeria is experiencing a lot of progress in technology and digital innovation. It is no surprise that most people refer to our tech sector as "Africa's Silicon Valley." Many tech companies including yours truly have seen a flurry of significant strides and investments. This tech boom offers aspiring entrepreneurs exciting opportunities to capitalize on the growing digital market. The increasing adoption of mobile technology and internet penetration has created a conducive environment for e-commerce and online businesses to flourish.

Embrace the thriving market, creative business culture, and technological advancements in Nigeria. Start your small business journey with these lucrative small business ideas, and find endless possibilities ahead.

Related: A Comprehensive Guide to Shopping on Best Buy and Shipping to Nigeria

What Are The Most Lucrative Small Business Ideas in Nigeria?

Let us get right to the top lucrative small business ideas in Nigeria.

1. Offer Catering Service Do you love to cook? Launching a catering business may be the perfect small scale business idea for you. You can cook from home and cater to other local events. This is a lucrative business idea that you don't need a huge capital to start. Besides the cost of food items, you may have to also hire a few employees as you begin to book more events. Your bill and service charge should cover these expenses.

2. Start a Palm Oil Storage Business Leveraging the palm oil trade can unlock a lucrative small business opportunity in Nigeria. Here's how: From February to April, when palm kernel prices dip, buy palm oil at a lower cost. Then, stow it away until July, the peak season, when demand surges. By reselling the stored palm oil during this high-demand period, you can enjoy substantial profit margins ranging from 50% to 60%. This strategic approach taps into the seasonal fluctuations of palm oil prices, allowing you to maximize your investment.

Embracing small business ideas like this is very simple. It is about understanding the market dynamics and timing your actions right. With careful planning and attention to price trends, you can create a sustainable source of income. This small business idea shows how a simple strategy and knowledge of local market patterns can bring impressive returns.

3. Transport Business Many organizations in Nigeria need transportation but cannot afford to buy vehicles. Buying a bus (or several buses), can make you the go-to transportation service. Schools, religious organizations, and non-profits could outsource their transportation and logistics to you. Focusing on a sector, like education or e-commerce delivery is a good idea. You specialize, serve a lot of schools and retailers, and grow a lucrative small business.

4. Establish a Security Agency Security is not the sole responsibility of the government. The need for excellent security services in Nigeria is on the rise. You can set up an agency, recruit professionals or become a bodyguard. Another option is to import and sell security products.

Related: Easy Ways Small Businesses Improve The Lives Of Their Customers

5. Invest in Property Property investment takes more upfront capital than some other small business ideas in Nigeria. But if you have the capital, you should definitely look into purchasing land or property in Lagos. The returns can be as much as 100%-200% profit when you resell the property. You can also lease office buildings or homes and make a reasonable passive income each month.

6. Copywriting Business The demand for great copywriting has grown significantly as businesses realize the importance of compelling content. Copywriters are sought after to create persuasive ad copies, speeches, email campaigns, and more.

Starting a copywriting business requires a good level of writing skills, creativity, and the ability to understand clients' needs. You can offer your services as an individual copywriter or build a team of talented writers. Developing a strong portfolio and delivering quality content will help you attract clients and establish a reputable brand.

7. Open a Daycare Center Nigeria's demand for reliable daycare centers presents a unique small business opportunity. Many of these centers don't meet the high standards that parents expect. This gap in quality childcare services creates a promising avenue for entrepreneurs. You can easily start this if you have creativity, a love for children, and access to a clean and secure environment.

Embarking on this venture doesn't necessitate intricate skills or elaborate setups. What matters is your passion for providing a safe and enriching space for children to learn and play. This small business idea's foundation lies in understanding parents' specific needs and concerns. Plan smart, keep kids safe, teach creatively, and create a daycare that parents love and where kids thrive, bringing you joy.

8. Offer Web Development Services The technology market is expanding. The United States also outsources many web-related jobs to other countries. You can learn web design and coding online and then offer web development services from home. This is one industry where you can make very good money if you're techie.

Related: Branding Tips For Small Businesses

9. Sew Specialized Uniforms or Special Items The need for specialized uniforms in Nigeria is huge. In Lagos, there are over 500 schools and businesses with this need. There are also military and paramilitary groups with such a large demand. Sewing specialized uniforms for these groups will keep you busy for a while.

10. Poultry Farming The agricultural sector has always been a gold mine for entrepreneurs. Poultry farming, in particular, is a profitable business with a steady market in Nigeria. The demand for chicken, turkey, eggs, and other poultry products is constantly on the rise.

To start a poultry farm, you will need to invest in suitable housing, feeds, and the right breed of chickens or turkeys. With proper management and a specific target market, you can generate significant profits from poultry farming.

11. Rental Services The rental services industry is a broad one in Nigeria, encompassing car rentals, event rentals (such as canopies and chairs), and even house rentals. The demand for rental services is high, especially in major towns where events take place regularly.

Starting a rental services business requires strategic planning. If you focus on renting out canopies, tables, and chairs, you can cater to the needs of individuals and organizations hosting events. Choose a suitable location and establish a strong network to ensure a steady stream of customers.

12. Snail Farming Snail farming is a lucrative small-scale business with a high demand for snails in Nigeria. Snails are consumed in large quantities, with the country alone consuming about 7.5 million kilograms of snails annually.

Starting this business is relatively easy and requires minimal investment. You can begin by selling a small number of snails and gradually expand your business as they reproduce. With the right housing and feeding conditions, snail farming can be combined with a regular job, making it a flexible and profitable business to get started selling snails.

13. Sports Viewing Center Business Sports viewing centers have become a popular business opportunity in Nigeria. Many individuals in villages, towns, and cities do not have direct access to sports channels and rely on viewing centers to watch their favorite games.

To start a sports viewing center, you will need a suitable site, a well-equipped structure, comfortable seating, and the necessary gadgets for showing games. Over time, you can build a loyal customer base and create a thriving business.

14. Makeup Business The beauty industry has evolved significantly, with makeup becoming more than just a beauty item. It is now considered a form of creative art and an essential component for various professionals, such as models, artists, photographers, and actors.

Starting this business allows you to provide makeup services for special occasions like weddings and birthday events. Additionally, you can offer makeup training classes to generate extra income. With the right skills and a passion for beauty, you can turn your love for makeup into a successful business venture.

15. Laundry Service The laundry service business is a profitable small-scale business that requires minimal technical skills. In a fast-paced society, many people have little time to spare for laundry, making laundry services in high demand.

To start a laundry service, find a favorable location in a busy area, especially near offices where professionals have limited time for laundry. Start with a small team and gradually expand as your customer base grows. Providing quality service and timely delivery will help you build a loyal clientele.

Related: Learn How to Use A Shipping Cost Calculator in 5 Minutes

16. POS Business The Point of Sale (POS) business provides a fast and convenient alternative to traditional banking. Instead of queuing for hours at the bank or ATM, people can now conduct basic financial transactions at a POS machine, saving them time and effort.

Starting a POS business involves setting up stands or shops in strategic locations. By offering quick withdrawals and other financial services, you can attract customers and earn a fee on each transaction. Establishing a chain of POS stands across different areas can further expand your business and increase profitability.

17. Hair Dressing Business Hairdressing is an evergreen small-scale business opportunity. People always strive to keep their hair in the best shape possible, making hairdressing services in high demand.

To open a hairdressing salon, you need to be a professional hairstylist or employ skilled hairstylists. Offering quality hairdressing services and recommending hair care products to clients can help you build a loyal customer base. Additionally, you can train apprentices and sell hair products for extra income.

18. Barbing Salon Business Barbing, like hairdressing, is another thriving small-scale business opportunity. Men need regular haircuts and grooming services, making barbing salons a necessity in every neighborhood.

To start a barbing salon, you need to acquire the necessary skills or hire skilled barbers. Providing quality services, selling grooming products, and offering training can help your barbing salon stand out and attract a loyal clientele.

19. Ice Block Production In Nigeria, where power supply is often unreliable, ice blocks are a necessity for cooling food and drinks. Ice block production is a steady business with a high demand, especially in areas with limited access to electricity.

To start an ice block production business, you will need to invest in the necessary equipment, secure a suitable factory site, hire staff, and arrange for efficient delivery. Providing quality ice blocks at competitive prices will help you establish a strong customer base.

20. Catering Services Catering services go hand in hand with event management. Weddings, seminars, and other events require delicious meals and professional catering services.

To start a catering business, you need to have excellent cooking skills and a wide network of suppliers. Building a reputation for delivering top-notch service and creating mouthwatering dishes can help you secure contracts for various events. Embracing digital platforms to showcase your work and widen your reach is also crucial for success.

21. Pure Water (Sachet Water) Production Business Pure water, also known as sachet water, is an essential commodity in Nigeria. It is a cost-effective and convenient option for clean drinking water, making it a staple in households, offices, and events.

To start a pure water production business, you will need to obtain the necessary permits and licenses, invest in water treatment equipment, and secure a reliable distribution network. Ensuring strict adherence to quality standards and providing prompt delivery will help you build a reputable brand.

22. Photography Business Photography is a fun and profitable small-scale business that can be started with minimal investment. In today's digital age, the demand for professional photographers is high, with individuals and businesses seeking captivating images for various purposes.

To start a photography business, invest in a good camera, learn the art of photography, and offer your services to clients. You can specialize in events, portraits, landscapes, or even sell your images online through platforms like iStock Photo and Etsy.

23. Social Media Marketing Business With the increasing popularity of social media, businesses and brands are looking for ways to maximize their online presence. Starting a social media marketing business allows you to help businesses reach their target audience and achieve their marketing goals.

To succeed in this business, you need a good understanding of various social media platforms and the ability to create engaging and effective campaigns. Moreover, having great graphic designers at your beck and call is crucial. By providing innovative marketing strategies, collaborating with talented graphic designers, and expertly managing social media accounts, you can help businesses not only grow their online presence but also generate more leads.

24. Road Transport Business The road transport sector in Nigeria is a thriving industry, with millions of people relying on road transportation for their daily activities. Starting a road transport business allows you to cater to the transportation needs of individuals and businesses.

The scope of your road transport business can vary depending on your capital level. You can choose to focus on intra-state movement within a city or expand to inter-state transportation. Providing safe and reliable transportation services and building a strong network of drivers and vehicles will contribute to the success of your business.

25. Blogging Blogging is a creative and profitable business that allows you to share your passions, knowledge, and expertise with the world. It is a platform where you can engage with a global audience and generate income through various monetization strategies. I mean look at where blogging took Linda Ikeji , Bella Naija , and Sisi Yemmie .

To take your blog to the next level, start by choosing a niche that you are passionate about and creating valuable and engaging content for your target audience. Consistency and quality are essential for building a successful blog, but you can also explore additional strategies like leveraging Google Ads and affiliate marketing. By adding these advanced techniques, you can further monetize your blog and enhance its potential for success while maintaining a strong online presence.

25. Ice Cream Production Business Ice cream remains one of the most popular snacks and confectioneries worldwide. In Nigeria, the demand for ice cream is high, with adults and children consuming it regularly.

To start an ice cream production business, you will need to invest in the necessary equipment, secure a steady distribution system, and create unique flavors to cater to different tastes. Building a reputable brand and delivering high-quality ice cream will help you capture a significant share of the market.

26. Tiger Nut Drink Production Tiger nut drink, also known as " kunun aya " in Nigeria, is a natural and nutritious beverage made from tiger nuts. It is rich in nutrients and offers numerous health benefits, making it a popular choice among consumers.

Starting a tiger nut drink production business allows you to tap into the growing market for healthy and natural beverages. You can distribute your product to eateries, local food stores, and supermarkets. Providing a quality product and effective marketing will help you build a loyal customer base.

27. Hibiscus Drink Production Hibiscus drink, popularly known as " zobo " in Nigeria, is a refreshing and healthy drink made from dried Roselle plant flowers. It is sugar-free and offers various health benefits, making it a favorite among children and adults.

Starting a hibiscus drink production business allows you to produce and distribute this popular beverage. With the right marketing strategy and distribution channels, you can establish a strong presence in the market and cater to the growing demand for healthy drinks.

28. Scrap Metal Collection Business Collecting and recycling scrap metal is not only profitable but also contributes to environmental sustainability. The scrap metal collection business involves gathering scrap metal materials and selling them to recycling companies.

To start a scrap metal collection business, you will need to invest in the necessary tools and equipment, such as trucks and magnets. Building a network of collectors and establishing relationships with recycling companies will help you maximize your profits.

29. Fashion Boutique Business The fashion boutique business is a signature industry in most Nigerian towns and cities. Despite existing competition, there is always room for new entrepreneurs to make their mark in the industry.

To succeed in the fashion boutique business, focus on offering trendy and fashionable items that resonate with your target market. Establishing a strong online presence and leveraging social media platforms can help you reach a wider audience and boost your sales.

30. Sports Betting Business Sports betting has become a popular form of entertainment and an opportunity for entrepreneurs to make profits. Nigerians, like many people around the world, enjoy betting on their favorite sports events.

Starting a sports betting shop or a chain of bet shops allows you to tap into the lucrative sports betting market. While this business comes with risks, it offers endless possibilities for growth and profitability.

31. Beer Parlour Business After a long workday, many Nigerians like to unwind at beer parlors, enjoying a few bottles of beer and local delicacies. Starting a beer parlour business allows you to cater to this need for relaxation and socializing.

To start a beer parlour, secure a suitable location, create a cozy ambiance, and offer a variety of beers and snacks. Providing excellent customer service and promoting a friendly atmosphere will attract customers and keep them coming back.

32. Frozen Foods Business The frozen foods business is a lucrative venture in the food processing industry. Frozen foods, such as fish, meat, chicken, turkey, and vegetables, are in high demand in Nigeria.

To start a frozen foods business, you will need to invest in a reliable supply chain, secure storage facilities, and establish relationships with retailers and food vendors. Providing high-quality frozen foods and ensuring timely delivery will help you build a strong customer base.

33. Egg Distribution Business Eggs are a nutritious food staple that is consumed by people of all ages. Starting this business allows you to supply eggs to retail shops, restaurants, and food vendors.

To succeed in the egg distribution business, you will need to establish relationships with poultry farmers, ensure timely delivery, and provide competitive pricing. Offering fresh and high-quality eggs will help you build a strong reputation and attract loyal customers.

34. Logistics and Delivery Business The rise of e-commerce has created a significant demand for logistics and delivery services. Many businesses now rely on delivery personnel to transport their products to customers in a timely and efficient manner.

Starting a logistics and delivery business requires careful planning and investment in transportation vehicles and logistics management systems. Building a strong network of reliable drivers and providing excellent customer service will help you thrive in this competitive industry.

Sha don't start shipping from the U.S. and U.K. to Nigeria and put us out of business o.

35. Pastries Production Business Pastries, such as pies, croissants, muffins, and doughnuts, are a popular choice for snacks and desserts. Starting a pastries production business allows you to cater to the demand for these delicious treats.

To succeed in the pastries production business, you will need to develop unique recipes, source quality ingredients, and invest in baking equipment. Building relationships with retailers and promoting your pastries through digital platforms can help you reach a wider audience and boost sales.

36. Dropshipping Business Dropshipping is a business model that allows you to sell products without having to hold any inventory. Instead, you partner with suppliers who handle the fulfillment and shipping processes.

To start a dropshipping business, you will need to identify a profitable niche , build an online store, and establish relationships with reliable suppliers . With the convenience of running your operations remotely, you can manage this business from the comfort of your own home. Promoting your products through social media and online advertising can help you attract customers and generate sales.

Lucky for you we have a detailed guide that works you through starting your dropshipping business and even earning 7 figures in no time!

37. Mini-Importation Business Mini-importation is an online-based business that involves importing and selling goods in your country of residence. It offers opportunities to provide consumers with quality products at competitive prices.

To start a mini-importation business, you will need to identify reliable foreign online stores, choose quality products, and navigate customs regulations. Developing a solid business plan, including strategies for sourcing products, managing logistics, and understanding market demand, will help you succeed in this business.

In Nigeria, the opportunities for small-scale businesses are endless. Whether you choose poultry farming, rental services, or photography, success is within your reach. Embrace your entrepreneurial spirit, identify your passion, and start your journey towards building a thriving business. With dedication, hard work, taking advantage of free shipping on Black Friday , and a customer-centric approach, you can unlock the doors to entrepreneurial success in Nigeria's dynamic business landscape.

Related: How To Start A Phone Selling Business In Nigeria

As you grow through referrals and sales, Heroshe has your back. Ship your items from the U.S. and U.K. to Nigeria and Ghana for only $8 per pound with no hidden fees. You can buy quality products from websites like Amazon , eBay , get products delivered to your doorstep, and resell to clients without stress!

To begin, you can watch our video explaining the process or sign up right away . And if you are looking to scale up to mini importation, we have a comprehensive guide available for you to read and get started .

These are only thirty-seven out of the long list of good business ideas to start in Nigeria. Find a lot more valuable insights on the Heroshe blog. Don't miss out— subscribe now for in-depth advice on growing your small business!

Frequently Asked Questions About Small Businesses In Nigeria

Which business is best to start? A: The best business to start varies depending on individual factors like interests, skills, and market demand. However, one particularly promising option is starting an e-commerce store. With the increasing trend of online shopping, an e-commerce business allows you to reach a wide audience and operate with lower overhead costs compared to traditional brick-and-mortar stores. You can choose to sell products in various niches, from fashion and beauty to electronics and home goods, based on your expertise and market research.

Q: What business can I start with 50,000 Naira? A: With 50,000 Naira, you can consider starting a small-scale food vending business. For example, you could focus on selling popular snacks like puff-puff, chin-chin, or small chops in busy areas like markets, schools, or office complexes. This business requires minimal investment in ingredients, equipment, and permits, and has the potential for quick returns, especially if you offer high-quality products and excellent customer service.

Q: What business can I start with 200,000 Naira in Nigeria? A: With 200,000 Naira, you could venture into the mobile phone repair business. You can use the funds to purchase essential tools, equipment, and initial stock of spare parts. With the increasing reliance on smartphones and other mobile devices, there's a consistent demand for repair services. You can operate from a small shop or even offer on-the-go repair services, catering to customers in your locality or through referrals.

Q: What is the fastest business to start? A: One of the fastest businesses to start is freelance writing. If you have strong writing skills and expertise in specific subject areas, you can offer your services to businesses, websites, or individuals in need of content creation. Platforms like Upwork , Fiverr , and Freelancer allow you to quickly set up a profile and start bidding on projects. With consistent effort and high-quality work, you can build a solid client base and generate income relatively quickly.

Q: What is the cheapest and most successful business to start?

A: Dropshipping is one of the cheapest and most successful businesses to start. With dropshipping, you don't need to invest in inventory upfront. Instead, you partner with suppliers who handle inventory and shipping. You set up an online store, list products from your suppliers, and market them to customers. When a customer places an order, the supplier ships the product directly to them, and you earn a profit margin. This model minimizes financial risk and allows you to focus on marketing and customer service.

Q: What is the most profitable business to start from home? A: Starting a home-based catering business can be highly profitable. You can leverage your culinary skills to prepare and deliver meals for events, parties, or individuals. By operating from home, you save on overhead costs associated with renting a commercial kitchen or storefront. With effective marketing through social media, word-of-mouth referrals, and networking with event planners, you can attract clients and generate substantial income while enjoying the flexibility of working from home.

Q: What small business is best to start with? A: A boutique coffee shop can be an excellent small business to start. By focusing on quality coffee and creating a cozy ambiance, you can attract a loyal customer base. Offering specialty drinks, pastries, and light snacks can further enhance your appeal. With careful location selection, unique branding, and exceptional customer service, you can differentiate your coffee shop from larger chains and establish a thriving business within your community.

Q: What little business can I start in Nigeria? A: Starting a small-scale bakery can be a lucrative venture in Nigeria. With the growing demand for baked goods like bread, pastries, and cakes, you can cater to both individual customers and wholesale clients such as restaurants, cafes, and supermarkets. With 50,000 Naira, you can invest in basic baking equipment and ingredients to get started. By focusing on quality, freshness, and innovative product offerings, you can build a successful bakery business over time.

Q: What business gives daily income in Nigeria? A: Offering delivery services with motorcycles can provide daily income in Nigeria. With a motorcycle and proper licensing, you can provide convenient and affordable delivery options for people looking to deliver items within your locality. By operating strategically in busy areas or along popular routes, you can generate steady income from fares throughout the day.

Afolabi Ojabowale

Ojabowale Afolabi is the content marketing lead at Heroshe. I have a deep passion for telling brands' stories to educate their audiences across a breadth of media and content forms.

Lagos, Nigeria

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How to Successfully Start a Small Scale Business in Nigeria

You’ve decided to start your own small-scale business in Nigeria. Congratulations! There’s no doubt that it’s a daunting task, but with the right planning and execution, you can make your business a success.

The first step is to come up with a business plan. This document will outline your goals, strategies, and financial projections for your business. It’s important to be realistic when drafting your plan and to make sure that all of your research is done before you begin. It’s also important to remember that your business plan should be a living document that you update as needed.

In this post, we’ll give you a roadmap for starting and running a successful small-scale business in Nigeria.

How to Start a Small Scale Business in Nigeria

If you’re thinking of starting a small-scale business in Nigeria, there are a few things you should know. First, it’s important to have a clear idea of what you want your business to do. What products or services will it provide? Who is your target market? What need does your business fill? Once you have a good understanding of your business concept, you can begin to put together a plan.

Next, you’ll need to think about the practicalities of starting a business in Nigeria. What legal requirements are there for businesses in Nigeria? How will you find premises and get set up? How will you finance your start-up costs? These are all important questions that need to be considered before you can launch your business.

Finally, once you’ve got your business up and running, you’ll need to make sure you market it effectively. This means creating a strong branding strategy and making sure you get your name out there. You can do this through traditional marketing methods like print and online advertising or through more modern methods like social media marketing.

If you keep these things in mind, you’ll be well on your way to starting a successful small-scale business in Nigeria.

Here’s a step-by-step guide on how to start a small-scale business in Nigeria:

Research Your Business Idea

So you’ve decided to start a small scale business in Nigeria. That’s a great decision! But before you can get started, you need to do some research.

First, you need to make sure that there is a market for your product or service. Do some online research to see if there is already a similar business in operation. If there is, you’ll need to come up with a way to differentiate yourself from the competition.

Next, you need to make sure that you have the skills and knowledge necessary to run your business. Do you have the experience and expertise to produce the product or provide the service you’re offering? If not, you’ll need to find someone who does.

Finally, you need to make sure that you have the resources necessary to start and run your business. This includes things like start-up capital, office space, and personnel. Make sure you have a realistic idea of what it will cost to get your business up and running.

If you can answer these questions positively, then you’re on your way to starting a successful small-scale business in Nigeria.

Create a Business Plan

You need to create a business plan. This document will be your roadmap to success, and it will outline everything from your mission and vision to your marketing strategy and financial goals.

Creating a business plan can seem like a daunting task, but it’s actually not that difficult. There are plenty of templates and resources available online, so there’s no need to reinvent the wheel. Just make sure you take the time to do it right, and be prepared to update it as your business grows.

Choose the Right Business Structure

So you’ve decided to start a small business in Nigeria. That’s great! But now you need to choose the right business structure. Here are a few things to keep in mind:

Sole proprietorship: This is the simplest business structure, and it’s perfect for small businesses. With this type of business, you are the owner and the only employee.
Partnership: A partnership is similar to a sole proprietorship, but it involves two or more people. This is a good option if you want to share the responsibilities and costs of running a business.
Corporation: A corporation is a more complex business structure, and it’s best suited for larger businesses. This type of company has separate owners and employees, and it is subject to more regulations than other structures.
Limited liability company: A limited liability company (LLC) is a good option for businesses that want the benefits of a corporation but don’t want to deal with all the regulations that come with it. This type of company is relatively new, so there aren’t many rules governing it yet.

Register Your Business

All you need to do is register your business. This is a process that can be a little daunting, but it’s important to make sure all your paperwork is in order. You don’t want any surprises down the road.

Once you’ve registered your business, you need to create a business plan. This will help you stay on track and make sure you’re covering all your bases. It’s also a good idea to consult with an accountant and/or lawyer to make sure you’re compliant with all the latest regulations.

Get the Required Licenses and Permits

So you want to start a small scale business in Nigeria? That’s great! But before you can get started, you need to make sure you have all the required licenses and permits. Here’s a quick rundown of what you need:

Business license: This is required for all businesses, regardless of size or industry. You can get this from your local government office.
Tax ID: You’ll need this to file taxes and open a business bank account.
Health permit: If you’re selling food or any other type of product that could potentially cause harm to the public, you’ll need a health permit from your state’s health department.
Fire permit: If you’re running a business that involves any type of fire hazard, you’ll need a fire permit from your local fire department.
Zoning permit is required if your business is located in a commercially zoned area. You can get more information from your local zoning office.

Make sure you have all the required licenses and permits in order to avoid any fines or penalties from the government.

Open a Business Bank Account

You need to open a business bank account. This will make it easy for you to manage your finances and keep track of your expenses. It also helps to build credibility with potential customers and partners.

There are a number of banks that offer business banking services, so you’ll need to do some research to find the one that’s right for you. Make sure you read the terms and conditions carefully so you know what you’re getting into.

Once you’ve set up your account, make a plan for how you’re going to use it. Will you be depositing all of your revenue into the account? Or will you only be using it for specific expenses? Decide what works best for you and stick to it.

Find the Right Business Location

It’s important to find the right business location.

You need to consider things like traffic, accessibility, and your target market. If you’re going to be selling clothes, for example, you’ll want to be in a high-traffic area where people can easily see your store.

If you’re not sure where to start, try asking local businesses where they would recommend setting up shop. They’ll have a good idea of what areas are best for your type of business.

Create a Marketing Plan

You need to create a marketing plan. This is your roadmap for how you’re going to promote your business and reach your target market. It should include both online and offline marketing strategies, as well as a budget and a schedule.

You also need to get organized! Make sure you have a system in place for tracking sales, expenses, and customer data. This will help you stay on top of things and keep your business running smoothly.

Hire Employees

It is important to remember that you can’t do everything alone. You’re going to need help, and that’s where your employees come in.

Now, you might be wondering how to go about hiring employees. It can be a daunting task, but if you follow these simple tips, you’ll be on your way to finding the perfect candidates:

Cast a wide net: Don’t just restrict your search to people you know. Widen your reach and cast a net far and wide to find the best candidates.
Be specific about what you’re looking for. When you’re writing your job posting, be very clear about the skills and experience you’re looking for. This will help weed out unqualified candidates right away.
Use social media: Social media is a great way to find candidates, especially if you’re looking for someone with specific skills or experience. Post a job ad on your social media pages and see who bites.
Interview wisely: When interviewing candidates, be sure to ask questions that will help you determine whether they are a good fit for the position. And don’t be afraid to ask them what they know about your company and what their goals are for the future.

Launch Your Business

You need to do your research and decide on a business that’s suited to the Nigerian market. You also need to make sure you have the capital to get your business off the ground, and that you have a solid business plan in place.

Another thing you need to do is make sure you have the right team in place. You’ll need a good accountant, lawyer, and marketer, just to name a few. And lastly, don’t forget to market your business effectively. You need to get the word out there so that people know what you’re selling and why they should buy from you.

If you can manage all of that, then you’re well on your way to starting a successful small business in Nigeria.

Tips on how to Successfully run a Small Scale Business in Nigeria

You’re probably wondering how to start a small scale business in Nigeria. It’s not as difficult as you think. Just follow these 10 tips and you’ll be on your way to success:

Plan your business carefully.
Do your research and know your competition.
Write a business plan and make sure it’s realistic.
Secure the necessary funding.
Choose the right location for your business.
Get the right licenses and permits.
Create a branding strategy.
Build a strong team of employees.
Market your business effectively.
Measure your results and adjust your strategy accordingly.

Starting a small-scale business in Nigeria can be a very profitable venture, but it takes a lot of hard work and perseverance to make it successful. Here are a few tips to help you get started.

Do your research: Make sure you have a clear idea of what you want your business to do and how it will be different from the competition.
Get organized: Set up a business plan and track your expenses and revenues so you can stay on top of your finances.
Network with other entrepreneurs: Building relationships with other business owners can help you learn from their mistakes and successes.
Stay positive: It can be tough to start a business from scratch, but remember that Rome wasn’t built in a day, and with hard work and dedication, you can achieve your goals.

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35+ Lucrative Small-Scale Manufacturing Business Ideas In Nigeria Or Africa

The manufacturing industry in Nigeria, Africa and many other places around the world is currently underexplored. With a GDP contribution of below 10% in Nigeria, there is much to hope for in the Nigerian manufacturing industry. At the moment, the three main areas where Nigeria experiences manufacturing progress are food & beverages, textiles and cement. However, there is still plenty of room for improvement in other parts of the industry.

While a major hindrance to the rise of manufacturing has always been accessing capital, there are a lot of cost-effective manufacturing business opportunities that anyone can start. If you’re looking for low-cost manufacturing businesses to start, here are 35+ lucrative small-scale manufacturing business ideas you can start in Nigeria, Africa or in many places around the world.

See Also: How To Start A Lucrative Cosmetics Production Business In Nigeria: The Complete Guide

1). Garri Processing Business:

Garri is one of the most available staple foods in Nigeria and other parts of Africa. Made from cassava, garri is a good business commodity, thanks to the high patronage it enjoys all over the country.

If you have a cassava farm, you can consider processing the harvested cassava into garri. Similarly, those who do not have a cassava farm can network with cassava farmers for regular supply. The best part about garri business is that you don’t need an extensive marketing strategy as it sells itself.

2). Bead Making Business:

Beads are great fashion and decorative items increasingly gaining attention across Nigeria, Africa and many other places around the world. They are used for traditional events and festivals.

With the growing attention towards beads as fashion statements, a smart entrepreneur can build a large business out of making and selling beads. All you need to do is, brand your business and create a digital presence to expand your reach.

3). Liquid Soap Production Business:

Liquid soap is often preferred to other soap types because they are relatively cheaper and easier on the skin. Most users also choose liquid soap for basic cleaning such as dishwashing and mopping, amongst others.

Manufacturing liquid soap requires little capital. You can produce it right from your home and distribute to vendors, supermarkets and local shops around.

See Also: How To Start A Lucrative Cocoa Cake Production Business In Nigeria: The Complete Guide

4). Basket Weaving Business:

This craft is one of the most inexpensive small-scale business ideas anyone can start in Nigeria or Africa. Basket weaving has been around for a while and is one of the most underrated businesses in the region.

The market for weaved baskets includes supermarkets, market traders and foodstuff distributors. Baskets are also used for decorative purposes, especially at traditional festivals in Nigeria, Africa and many other places around the world.

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5). tie and dye business:.

Tie and dye are fast gaining resurgent acceptance in the fashion industry. Locally known as adire in most parts of Nigeria, tie and dye are not just used for wrapper production. It is also used to make beautiful designs on shirts, trousers and cardigans.

You can employ the services of trained tie and dye makers or learn the craft and produce the designs yourself.

6). Shoe Making Business :

Shoemakers are making a lot of money in the fashion sector of the manufacturing industry. Granted that this is one of the small-scale business ideas that require training, you’ll have to learn the craft.

Once you’ve sorted that, you can start your shoemaking business with very little capital.

See Also: How To Start A Lucrative Toothpaste Production Business In Nigeria: The Complete Guide

7). Hibiscus Drink Production Business :

Hibiscus drink is commonly known as zobo in Nigeria. Producing hibiscus drink requires very little capital. As a matter of fact, this is a manufacturing business idea open to virtually everyone irrespective of available funds. Your capital requirement depends on your intended scope of production.

You can start small and see your business grow quickly within a short period.

8). Tiger Nuts Drink Production Business:

Like zobo, tiger nuts drink is a traditional drink common in Nigeria and some other parts of Africa. It is made from the seeds of the tiger nuts plant and is preferred chilled. With the right production factors in place, you can generate as much income as possible from the tiger nuts drink business.

You can also distribute to restaurants, small shops, schools and so on.

9). Pure Water Production Business:

Pure water has been classified as one of the most lucrative small-scale business ideas in Nigeria. Sales of sachet and bottled water are a signature business in Nigeria and neighbouring countries. Thousands of people are in a job, thanks to this business.

Although it requires manufacturing equipment and proper licensing, drinkable water production enjoys massive patronage in Nigeria, Africa and many other places around the world.

See Also : How To Start A Lucrative Pure Water Production Business In Nigeria: The Complete Guide

10). Palm Oil Production Business:

As of 2021, Nigeria is the 5th largest producer of palm oil with over one million metric tonnes per annum. The best part is there is still enough room for improvement in Nigeria’s oil palm sector.

Private investors and entrepreneurs can also contribute more to Nigeria’s production and export of palm oil. Starting palm oil production requires a lot of trained manpower. Once this is sorted, there is a ready market for your product.

11). Furniture Production Business:

Furniture is another craft-related small-scale business available to every interested individual. Furniture production enjoys patronage from virtually every sector of society, so there’s little fear of running out of demand.

However, to get started, you need to put some time into learning the craft and embark on trial projects to boost your experience and confidence.

12). Bread Bakery Business:

The hot daily demand for bread makes bread production one of the most lucrative small-scale manufacturing business ideas in Nigeria, Africa and many other places around the world. Already, the bread production business is saturated. However, your ability to channel creative tastes to the right market will earn you a steady clientele.

See Also: How To Start A Lucrative Sesame Oil Production Business In Nigeria: The Complete Guide

13). Orange Juice Production Business:

In the food and confectionary manufacturing industry, orange juice remains in high demand in hotels, restaurants, supermarkets, local stores, and much more in Nigeria, Africa and many other places around the world.

With such teeming market demand, you can never be wrong about the orange juice production business. However, for branding purposes, you need to get the proper licenses and approval for your products.

14). Yam Flour Production Business:

Yam flour is a local food product made from dried yam tubers. It is used to make African dishes such as amala and can be added to other recipes. Although amala is a southwestern Nigerian meal, yam flour production is a business you can start anywhere in the country.

For longer shelf life and to aid nationwide distribution, you can brand and package your yam flour products and sell them in Nigeria, Africa and many other places around the world.

15). Wig Making Business:

Wigs are now common fashion items and they are useful in different industries. For most women, wigs are the solution to spending a lot of time making their hair. The wig production company has evolved so much that there are now wigs that look almost 100% like natural hair.

The options are endless. As a wig maker, it helps to be creative with ideas and strategic with your marketing efforts.

See Also: How To Start A Lucrative Ice Cream Production Business In Nigeria: The Complete Guide

16). Fertilizer Production Business:

Fertilizers are made from a series of combinations of several chemicals in the right proportions. The agricultural sector depends heavily on fertilizer production for massive farm yields. Hence, there is bound to be a continuous demand.

For starters, you could focus on producing a particular type of fertilizer to maximize your resources. Over time, you could expand your scope to cater to more demands.

17). Sweets And Candy Production Business:

Sweets and candies are some of the best confectioneries in terms of market demand. In Nigeria where they are handed to people as change, especially in supermarkets and small stores, the demand has soared.

Besides supermarkets, schools, malls and local shops are also hot spots for sale of sweets and candies in Nigeria, Africa and many other places around the world.

18). Cake Production Business:

Cake bakers smile to the bank, thanks to the continuous growth of consumer taste and demand for the product. Cakes are important edible items in wedding events, birthdays and other celebrations. But now, the business incorporates more creativity and innovative ideas.

Once you’ve learned basic cake-making skills, you can make and distribute creative cakes and also bake them on a contract basis.

See Also: How To Start A Lucrative Ginger Cake Production Business In Nigeria: The Complete Guide

19). Snacks Production Business:

Common snacks such as chin-chin, puff puff, egg buns, meat pies and others are in high demand across Nigeria. They are consumed by both adults and kids on a daily basis. To start a snacks production business, it is important to be properly trained. The best part is that it doesn’t take much learning effort to make snacks.

20). Chalk Production Business:

Chalk production is one of the simplest small-scale manufacturing business ideas anyone can engage in Nigeria, Africa and many other places around the world. The materials for chalk production are easy to source and it doesn’t require much startup capital.

What’s more, the market for chalk is still high, with schools, academies and tailoring institutions, topping the list.

21). Ice Block Production Business:

Local beer pubs, small stores and restaurants augment the erratic supply of ice blocks rather than using generators. This is understandable because ice blocks are cheaper. By extension, the regular use of ice blocks in the food and drinks industry creates a market for ice block producers.

Although ice block production requires some capital, it is still affordable to most entreprneurs and investors.

See Also: How To Start A Lucrative Shea Oil Production Business In Nigeria: The Complete Guide

22). Milk Processing Business:

The milk processing business is open to all entrepreneurs in Nigeria, Africa and many other places around the world. However, it is relatively easier for those in the northern region of Nigeria because of the high concentration of cattle rearers.

Milk processing involves extracting milk from cattle and further processing it into edible dairy products that are sold to consumers.

23). Building Block Production Business:

The growing industrialization of Nigeria and other parts of Africa has made block production one of the most lucrative small-scale manufacturing business ideas at the moment. Starting a building block production business puts you in a good position to benefit from industrial growth.

One of the best strategies in this business is to site your business in a busy part of town and invest in creating awareness.

24). Match Sticks Production Business:

Match stick production is perhaps one of the most underrated small-scale manufacturing business ideas in Nigeria, Africa and many other places around the world. Made from wood or paper, matches are relatively easy to produce and require fewer production efforts.

With so much global population still using stoves, firewood and basic cylinders, the match sticks business continues to enjoy constant patronage all year round.

See Also: How To Start A Lucrative Orange Juice Production Business In Nigeria: The Complete Guide

25). Smoothie Production Business:

Smoothie production is a lucrative snack business to start in a students community or city. As more people continue to realize the health benefits of fruits, the market for this business is bound to rise steadily.

With proper branding and effective distribution strategies, you can make a lot of money from this manufacturing business.

26). Honey Processing Business:

The multiple uses of honey in various industries ranging from food production to skincare have significantly increased the market demand for this product in recent times. To start this business, you need to learn how to keep and handle bees.

You also need to invest in labour, especially if you intend to go large-scale, as well as beekeeping kits to protect the staff from bee attacks.

27). Ice Cream Production Business:

Ice cream production has been around for decades, but the continuous evolution of the sector has created room for new producers and investors. Producing new and tasty flavours puts you at an advantage in the ice cream production business.

More so, you can distribute to prime targets like eateries, supermarkets, schools, malls, and much more.

See Also: How To Start A Lucrative Ice Block Production Business In Nigeria: The Complete Guide

28). Salt Production Business:

Iodized salt remains one of the most consumed food flavours. The market is tremendously large in Nigeria, Africa and many other places around the world. To get maximum yield, it is important to invest in equipment. The salt production industry in Nigeria is dominated by a few companies at the moment.

With an effective strategy in place, you can make your mark on the market in no time.

29). Handbag Production Business:

Although most of the fashion items used in Nigeria and other African countries are imported, there is a growing market for locally-made bags. To start this small-scale manufacturing business, you need to acquire the right skills and produce world-class standard bags.

You can also employ the services of other experienced handbag makers to boost your production.

30). Face Mask Production Business:

The outbreak of COVID-19 shifted the attention of the world towards the health risks involved in having dirty hands and going about with an unprotected face. Despite the discovery of vaccines, there is still a strong need for people to wear face masks and this has continually kept face mask producers in the market.

Irrespective of the type of face mask you choose to produce, there is a large waiting market.

See Also: How To Start A Lucrative Salt Production Business In Nigeria: The Complete Guide

31). Potato Chips Production Business:

Potato chips are one of the most commonly consumed snacks in Nigeria and other parts of Africa. Thanks to its health benefits and crunchy taste, most vacationers, students as well as adults prefer potato chips to other snacks.

For massive production yield, brand your business and distribute to supermarkets, marts, restaurants and other high-demand areas.

32). Food Processing Business:

The food processing industry is related to manufacturing. There are a lot of manufacturing business ideas that involve food processing to production, ranging from snacks to drinks production. The list is endless.

Depending on available capital and other production factors, select and focus on one food processing idea and distribute it to the right targets.

33). Popcorn Production Business:

Like other snacks, popcorn enjoys massive patronage among kids, students and adults on special occasions. Popcorn is easy to make and requires very little production effort. You can produce and distribute daily to supermarkets and malls.

On the other hand, you can get contracts to produce popcorn for birthday occasions, get-togethers, and much more.

See Also: How To Start A Lucrative Building Blocks Business In Nigeria: The Complete Guide

34). Coconut Oil Production Business:

Coconut oil production is equally one of the most underrated small-scale manufacturing ideas in Nigeria, Africa and many other places around the worlds. Coconut oil serves multiple uses, including hair and skincare.

Among other uses, it avoids skin cracks and hair breakages. You can start a coconut oil production business right from your home. The success of this business relies heavily on your ability to distribute to the right market.

35). Notebook Production Business:

Notebooks are essential materials for students and non-students. If you can produce and distribute to bookstores, student communities, campuses and schools, you stand a good chance of building a successful business in the sector.

36). Insecticides Production Business:

Insecticides can be locally produced and they are as effective as imported products. More so, locally-made insecticides are pretty affordable and available in all local markets and supermarkets.

Insecticide production enjoys continuous demand all year round because there is always a need to combat pets and insect attacks both in residential apartments and on farmlands.

See Also: How To Start A Lucrative Insecticides And Pesticides Production Business In Nigeria: The Complete Guide

To Sum It Up

While the rate of manufacturing in Nigeria and other African countries fails to meet the local annual demand, there has been significant progress over the years. Starting a manufacturing business does not always require heavy capital. If you want to start your own low-cost manufacturing business in Nigeria, Africa and many other places around the world, you can start with any of the 35+ lucrative small-scale manufacturing business ideas mentioned in this article and grow from there.

Trying To Secure A Business Loan? Finance? Or Investment? You can now greatly increase your chances of getting the loan/investment you need with our bank and investor ready professional MBA standard business plan writing service. Writing a bank and investor ready professional business plan can be challenging. If you need a professional and affordable business plan service, StartupTipsDaily’s MBA standard professional business plan writing service is perfect for your small business. All you have to do is request an understanding of your proposed business model, and you’d have a professional MBA standard businesses plan ready for you anywhere within 5 to 14 days. You can click here to get started with using StartupTipsDaily’s professional business plan writing service to create the perfect business plan that’d get accepted anywhere.

What are your thoughts on these 35+ lucrative small-scale manufacturing business ideas in Nigeria, Africa and many other places around the world? Let me know by leaving a comment below.

How to Write A Business Plan in Nigeria (Template for Nigerian Businesses)

The first time I thought about writing a business plan was when a friend asked for my help writing his. I could imagine the stress he had gone through before asking for my help.

Many times, the subject of a business plan comes up when one wants to start a business, and for the majority of people, it almost always seems like some special type of document that only gurus write.

A large number of Nigerian startups fail to understand the true significance of this one document. This fact has made many Nigerian business startups botch the preparation of their business plans by focusing totally on the wrong things.

Good plans prune your projections into realistic thresholds and consider as many parameters as are available to you.

Before we move on to how to write a business plan, we need to define and establish what a business plan is or what it should be.

Table of Contents

What is a Business Plan?

A business plan is a document describing a business, its products or services, how it earns (or will earn) money, its leadership and staffing, its financing, its operations model, and many other details essential to its success.

A well-written business plan should be able to prove to just about anyone who reads it how feasible your goals are, including potential investo rs.

How to Write A Business Plan (Template for Nigerian Businesses)

Writing a business plan may seem daunting and complicated, but with a systematic approach, you can easily achieve this task with the right guidance.

Below are strategies to help you narrow it down to easily actionable bits.

Know the purpose of the plan

When an entity’s purpose is unknown, abuse is inevitable, and often this tendency is not effectively maximising such.

Before unknowingly wasting precious time writing a plan that wouldn’t fit its purpose, you must know who exactly is going to be reading your plan before taking any steps.

For example, a simple plan written to attract investors would always differ from one written for internal use only.

Furthermore, before writing any part of your plan, even in the search for investors, you should consider especially who your readers are and try as much to cater to their particular expectations without losing track of your initial road map.

You should also aim to make your plan adaptable, editing it as the situation demands.

Draft an executive summary

A good executive summary is a key section of your plan—it’s also the last section you should write.

The executive summary’s purpose is to briefly describe the other parts of your plan. It usually is the part of your plan that convinces the reader if they want to know more about your business.

It’s also an overview of your business that persuades investors to read further. This is why you mustn’t make mistakes here.

While writing, keep in mind that it’s a summary, so make sure to highlight the key points you’ve uncovered

Whatever summary you end up putting on the plan would serve as the façade, the doorway into your plan.

Be as brief as you can. Be passionate.

Describe your company

This section of your business plan is the simplest part of the whole process. It caters for two fundamental questions: who are you, and what do you plan to do? Answering these questions introduces why you’re in business, why you’re different, what you have going for you, and why you’re a good investment bet.

Starting from a proper description of your company, you must share all the relevant information that connects to form your typical brand business plan.

These include market or industry analysis, organisation and management, service or product line, marketing and sales, your operations plan and your financial projections.

Make sure to present as detailed a description as possible using whatever medium can portray your ideas the best – tables, charts, verified industry statistics etc.

Read Also: How to Choose a Business Name in Nigeria

Do a thorough research

It doesn’t matter if you ever intend for anyone else to read it.

To write the most functional and perfect business plan, you need to know many things, which means research. It’s also called “doing a market analysis.”

It should include an overview of how big your estimate of the market is for your products, an analysis of your business’ position in the market, and a general overview of the competitive landscape.

It’s considered a safe bet to spend twice as much time researching as you would drafting the actual business plan.

This is because entrepreneurs need to know their market sphere, customers, and product and services very intimately to draw any plan of relevance.

Doing thorough research must include reading everything you can afford to read, talking to people, and seeking professional counsel. You should also check out videos on YouTube on what you are about. Scour the internet.

Finally, as a business owner, you’ll have to eventually make it into a habit and constantly inform yourself whenever the chance presents itself.

Read Also: How to Write a Business Report: Definition, Format, and Samples

Competitive analysis

After doing a market analysis, the next thing you should add to your business plan is a competitive analysis, i.e., you need to know who your competitors are. You cannot do this effectively if you do not take the time to study them. A good reason an investor would choose your business is if you have been able to study your competition and find a means to produce your services and products that are unique, better, and distinguishable.

Take note of actual and estimated figures

When you are starting a business and using expected figures, you need to communicate that properly so as not to mislead investors. Of course, you should have actual figures if you are already running your business.

Read Also: How to Write a Good Pitch: The Ultimate Guide for Freelancers

Service or product plan

This section should explain your service’s life cycle and what you sell. Explain how this benefits your customers. Share plans of intellectual property filings and research on your product or service. Also, describe the problem you are solving and how you plan to solve it. Of course, you have to talk about the competition as well.

Outline management and organisation

Your business plan’s management and organisation section should tell readers about who’s running your company. Detail the legal structure of your business. Communicate whether you’ll incorporate your business as a corporation or create a limited partnership or sole proprietorship.

If you have a management team, use an organisational chart to show your company’s internal structure, including the roles, responsibilities, and relationships between people in your chart.

Communicate how each person will contribute to the success of your startup. If you do not have enough hands to produce the desired result, have a plan to hire capable people to fill in the gap.

You can add documents (resumes, permits, leases, product pictures, letters of reference, etc.) to support your business plan; however, this is optional.

As you write a business plan that serves its purpose, remember that your words should persuade the reader and convince them as it convinced you.

Join our WhatsApp community to be a part of our Insightful conversations. You can subscribe to our YouTube Channel to watch our videos on business transformation.

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Home > Books > Agricultural Economics

Basics of Good Business Plan for Small-Scale Agribusiness Investors in Nigeria

Submitted: 28 June 2020 Reviewed: 06 August 2020 Published: 06 December 2021

DOI: 10.5772/intechopen.93554

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Agricultural Economics

Edited by Ifeoluwapo O. Amao and Iyabo B. Adeoye

To purchase hard copies of this book, please contact the representative in India: CBS Publishers & Distributors Pvt. Ltd. www.cbspd.com | [email protected]

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This chapter provides a synthesis of planning small-scale entrepreneurial skills to guide the current and prospective micro investors to harness wide ranges of agribusiness value chains in Nigeria. This initiative considered alternatives in business strategic options to harness the potentials therein, which involve production, distribution, processing of agricultural products and services integration for converting agricultural outputs for regular and timely supply of domestic and international needs. The current outcry for economic diversification couple with high rate of unemployment in Nigeria requires concerted efforts to boost the agriculture sector as a viable alternative for growth and development. Suffices to say, most agribusiness investors more often than not, experience failure because of the dearth of requisite business skills for planning the survival and growth of small-scale agribusinesses in the face of modern realities. In this wise, the chapter brings the benefits such as risk mitigation, cost savings, and income generation through combination of known production planning and business management skills. The chapter adopts discursive taxonomy, interpolating elicited facts from available literature plus the knowledge of ‘on-the-job-experience’ to promote and support the development of agribusinesses strategy for the transformation of the agriculture sector to generate employment, income, and promote food security, and competitiveness in the marketplaces.

good business plan
micro investors
agribusinesses
management skills
diversification

Author Information

Mustapha momoh *.

Department of Business Administration, University of Maiduguri, Nigeria

Caroline Aturu-Aghedo

Department of Business Administration, National Open University of Nigeria (NOUN), Nigeria

Nana Usman Bature

Department of Business Administration, University of Abuja, Nigeria

*Address all correspondence to: [email protected]

1. Introduction

The motivation and commitment to develop this write-up for planning micro investment in agribusiness value-chains emanates from rational observations and conviction. On the foremost, the youths’ colossal neglects of agriculture business versus very high unemployment rates and the consequential poverty and misery in the country, for me, are unacceptable. More, so, this scenario is worsen by the population explosion demanding for food and the influx of imported food into the country, which further overstretched the country’s balance of payment crises. Another observable and convincing scenario is the under developed agricultural food processing systems in Nigeria deserving cogent attention. Traditionally, the country produce primary crops like cocoa, cotton, tomatoes, grains, ginger, etc., but imports beverages, textile materials, canned tomatoes, malt-drinks, ginger drinks, etc. imposing unbalance trade of payments leading to constant devaluation of our currency, which has to stop. Furthermore, the perceived very high potentials of agribusinesses in Nigeria and, under tapped agro-industry value-chains in many states of Nigeria calls for strategic attention and investment. Indeed, the availability of management skills could be very much helpful in order to arrest these ugly trends by adding value to agricultural products thus, boost rural incomes, reduce youth restiveness, boost GDP and improve balance of payment deficit in the long-run.

Meaning of small-scale agribusiness

Classification of small-scale agribusiness

The nature and scope of small business in Nigeria

A good business plan

Importance of good business plan

Preparing a good business plan

Features of a good feasibility study

Writing a good business plan

2. Meaning of small-scale agribusiness

A business is a concern, an enterprise, or organisation set up by an individual or group of individuals for making profits from operations of the concern. According to [ 1 ], a business is an initiative, which involves the production of goods and services to meet up consumers’ need and satisfaction. Agribusiness ventures in Nigeria comprises of micro, small and medium to large productive units. Indeed, the description of what small agribusiness means varies from one country to another. It also differs from one industry to another, where each country tends to derive her definition with understanding of the role agribusinesses perform in the growth and development of the country. More so, definitions of micro agribusiness do change overtime with respect to price levels, levels of technology and other considerations. Indeed, small agribusinesses are synonymous with small- and medium-scale enterprises (SMEs) in the context of this paper. In most developed countries, SMEs are usually referred to as small businesses.

On this note, a small agribusiness is an agricultural enterprise owned and operated privately with a small number of employees and relatively low volume of sales and income. Small agribusinesses are business concerns with a total capital investment not more than 2 million (₦2, 000, 000) and the number of employees not more than 50 [ 1 ].

3. Classification of small-scale agribusinesses

The methods used to classify small agribusinesses include but not limited to number of employees, annual sales and/or turnover, value of assets and net profit (balance sheet). According to [ 2 , 3 ], small agribusiness classification differs amongst countries. For instance, in Australia, the Australian Bureau of Statistics classifies small agribusinesses as those employing fewer than 20 persons. The Australian tax office uses average annual turnover of less than $1 million and net assets of less than $3 million as the criterion in this classification. In Canada, agribusinesses are small if it has less than 100 workers in manufacturing and in the service subsector less than 50 workers. Similarly, in UK, the classification of agribusinesses goes thus; it is micro, if the number of full-time workers is less than 10; small business if the full-time workers range from 10 to 49. More so, UK further classified agribusinesses as medium sized with the number of full-time workers ranges between 50 and 249. Lastly, agribusiness are considered large, if the number of full-time workers is 250 and above.

The micro and cottage industry relative to agribusinesses has a total investment and working capital of not more than ₦1.5 million; and, a labour size of not more than 10 workers and excluding landed properties.

Small-scale agribusiness industry are businesses with a total capital of not more than ₦50 million including working capital, and, a labour size of not more than 100 workers minus cost of landed properties fits into the categorisation of ‘small-scale agribusinesses’.

Medium-scale agribusiness industry has a total investment and working capital of not more than ₦200 million including working capital, and a labour size of not more than 300 workers. This however excludes the cost of landed properties.

Large-scale agribusiness industry includes businesses with a total investment and working capital of over ₦200million, and a labour size of over 300 workers minus cost of landed properties.

4. Nature and scope of small agribusiness

Food processing enterprises : food processing enterprises are the most common of small agribusinesses. This are commonly referred to as restaurant and fast-food businesses found everywhere serving the basic food needs of local and urban communities in both villages and towns. These agribusiness activities, more often than not, are owned and managed by women in the society.

Arts and craft : Nigeria with many cultural traditions has a rich and diverse traditional arts and crafts heritage that many talented and gifted people engage in. Art and craft business is mostly found in urban settlements and the products are patronised by locals and international tourists.

Textiles and clothing : this is one of the areas where agribusinesses are prominently practiced in Nigeria. The producers of textiles and clothing are small-scale enterprises found in commercial areas like Kano, Kaduna, Ibadan, Lagos, etc. This includes activities such as the tie-and-dye of textiles that prepares textile with different designs and colours to make them attractive. Moreover, the garment factory also helps to produce dresses of various shapes and types for local consumption. Over the years, textile industry in Nigeria has suffered poor commitments and foreign stringent competition. Indeed, stiff competition from technologically advanced foreign investors and products has led to closure of many title factories, drop in market share and loss of jobs and income.

Leather products : Nigeria with its large livestock population of cattle, sheep, and goats, camel, and donkey has the raw material resources for thriving in the leather enterprises. The leather industries produce shoes, bags, decorative accessories, seat covers, furniture wears, etc. A typical example of leather enterprise is the Naraguta Leather Works in Jos, Plateau state, as well as in Kano and Sokoto states. Apart from the agribusinesses, small business activities in Nigeria are also found in building and construction enterprises, electronic and information technology ventures, basic metal and wood works, metal fabrication and engineering enterprises, amongst several others activities too numerus to mention that incorporate leather products in their finished outputs.

5. Samples of agribusinesses, practicable in Nigeria

Crop production : crop distribution and growth. Agronomic groupings of crops, crop culture (propagation, climate and soil requirements), fertilisers handling and distribution, and economic analysis of specific crops; maize, cassava, yam, rice, soya bean, cowpea, cotton, cocoa, citrus, oil palm, cashew, and vegetable. These depend on the cropping patterns and land use systems in the country.

Feed stuffs : carbonaceous concentrates on grains, carbonaceous roughages, protein concentrates plant e.g. groundnut cola, soya bean meal, proteinases roughage’s; commercial processing of feed stuffs: grinding, pelleting, etc. Feed standards and quality; nutrient requirements of various classes of livestock, chemical analysis such as proximate composition, anti-nutritional factors, feed microscopy and feed mills operations.

Animal production : livestock production, breeds and breeding in farm animals. Management of different farm animal species, feeds and feeding, housing, handling and control, factors to be considered in establishing commercial livestock enterprises, disease management and control in farm animals.

Food processing technology : post-harvest technology, modern techniques in food processing, packaging and storage, indigenous concepts and cottage industries for various food commodities.

Fisheries production : fish production in natural waters—rivers, lakes and in ponds. Management techniques for enhanced fisheries production in rivers, lakes, coastal waters and in ponds. Basic principles of fish culture; biotechnology in hatcheries and grow-cut operations; integrate fish farming, hatcheries and fish markets.

Forestry and wildlife investment : tree plantation (dates, banana, mangoes etc.), economic cross breeding of plants such as India with local mangoes e.g. “Multala Iyako” breed (funnily refers as ‘baba mai mangoro’).

Herb growing : this agricultural enterprise entails investing in herbs trees like basil, parsley and mint. Small-scale investors can grow them around their home and/or in field farm with great agriculture products, which provide raw materials to pharmaceutical firms within and outside the country.

Vegetable farming/food packaging : small-scale investors can houseplant or plant it in garden a variety of vegetables which when harvested and sold in local market or preserved and transported to different urban markets, could generate lots of income. In fruit packaging, small-scale investors might not grow fruits directly but could deal in various types of fruit packaging for retail sells and/or make into other fruit based juices for commercial sales.

Dairy farming : with the requisite skills and the ability to care for dairy animals such as cows, sheep and goats. Small-scale investors can easily engage in dairy farms where you produce milk, cheese and similar products in commercial quantity.

Fish farming : fish farming is one the growing agribusinesses in Nigeria. Fish farming activities includes aquaculture, smoking, packaging, refrigeration, feeds production, wholesales and retailing.

Rabbit rearing : this is one of the emerging areas in animal-husbandry that has so far received negligible attention in Nigeria. The business is lucrative, easy to handle, weather friendly and not too risky. Rabbits can be raise for a variety of different purposes with meagre amount of money.

Snail farming : snail farming is another emerging area in animal-husbandry in Nigeria that has also received negligible attention. The farming is as well very easy to handle with small amount of capital. Small-scale investors can raise snails for use as escargot and the slime has industrial usage for a variety of different purposes, thus, the business is very lucrative. However, it is not weather friendly and required secured environment. This attribute makes the business relatively risky.

Mushroom farming : this is another emerging area in agribusiness venture in Nigeria that has also received negligible attention. The business is lucrative, easy to handle, weather friendly and not too risky. However, it grows best in a moist atmosphere. Small-scale investors can grow various types of mushrooms for domestic use as food supplements and medicinal usage. Mushroom is in high demand by pharmaceutical industry.

Beekeeping : this agribusiness involves activities, which lead to a variety of different product-based business ventures such as honey production, wax production and crop pollination. Beekeeping requires high skills and start-up capital with little maintenance requirements.

Honey production : for example, you can harvest honey from beehives and sell it to consumers or processors. Small-scale investors can produce honey for domestic use as food supplements and medicinal usage. Honey is in high demand by pharmaceutical industry too all over the world.

Beeswax processing : beeswax is one of the by-products of beekeeping that is lucrative and marketable in the global market. In other words, small-scale investors can take the advantage and venture into processing of beeswax for sale as raw material to individuals and companies that specialise in the production of candles and similar products.

The owner of any of the businesses listed above is refers to as an entrepreneur. S/he provides the capital required for the running of the business. S/he is the chief coordinator, controller and organiser of the agribusiness. Readers should learn the basis of agro-industrial value-chains and their environments explicitly, the technologies required as well as the emerging trends in technologies. It is of paramount importance to learn the skills for examining food industry, agribusiness systems, cost structure and sources of revenue in food industries. More so, the knowledge of international trade and agricultural policies, international monetary environment as it affects food and agro-allied industries, social and legal issues in the management of food and agro-allied industries are paramount. The knowledge of social and economic impact of food and agro-allied industries on the environment, developmental trends in food technologies and agro-allied industries is of great importance to small-scale agribusiness investors.

6. A business plan

A business plan means a formal written expression of outlined business goals. The definition also expresses the reasons why these goals are attainable and how to achieve them with the scope of available means. It contains background information about the enterprise and the entrepreneur. Thus, a good business-plan entails a clear statement of desired objectives, decision made and how to systematise and manage the scarce organisational resources to achieve the set objectives within a given period. More so, [ 6 ] gives the meaning of business plan as carefully refined thoughts and deliberate efforts a firm put in place from the onset towards achieving goals and/or the objectives. Indeed, the manner of utilising organisational resources gives the cardinal measure towards achieving profitability and/or other goals.

The ‘What’ question : the question takes the form of ‘what to produce’, ‘what to market’, ‘what to exchange’, etc. this implies the needs for entrepreneurs to find suitable answers to such questions depending on the nature of the business. Whatever the entrepreneurs choose either to produce, market, exchange largely depends on the set objectives of the firm or enterprise. Therefore, an ideal agribusiness plan should state clearly, what line of action(s) the business endeavour to pursue in agricultural value chains.

The ‘How’ question : this mode of question takes the form of ‘how to produce’, ‘how to market’, ‘how to exchange’, etc. it strategically involves the approach; process and/or technique require to achieve the set objectives of the business venture. Furthermore, the ‘how’ mode questions involves steps required to design specifically action-oriented programme of every business intent. On this note, therefore, it is expected of the entrepreneur to conduct total review of the business strategy and highlight the functional planning areas to help choose the appropriate method, process or technology for the effective execution of the plan. Small-scale agribusiness investors should take cognisance of the vital business components such as finance, market and human resources and production plans in providing answers to the how type question [ 6 ].

The ‘Where’ question : this question mode takes the form of ‘where to produce’, ‘where to market’, ‘where to exchange’, etc. The ‘where’ question has to do with choosing the most appropriate business location. Indeed, it is very important to choose the most appropriate business location, bearing in mind strategic factors such as access to business information, raw materials, market, finance and skill labour in order to be prosperous.

The ‘When’ question : similarly, the ‘when’ question mode takes the form of ‘when to produce’, ‘when to market’, ‘when to exchange’, etc. Indeed, every business endeavour is time bound. There should be a defined period to accomplish each step in the business schedule. A business plan without time bound is difficult to measure the progress overtime. It takes time to plan, execute, grow, develop and diversify. This true in every business venture of which agribusiness is not oblivious.

7. Importance of good business plan

A good business plan adequately defines the vision and mission of the business. It identifies the key components of the goals, which eventually serves as implementation resume.

Good business plan adequately allocate firm’s available resources to handle foreseen and unforeseen challenges properly, in making crucial business decisions.

A good business plan adequately provides information to all crucial segments of the business intent. The plan must as well inform the manager and/or all business actors on their roles, individually and collectively towards goals attainment.

A good business plan vigorously pursues the most cost-effective processes that are easiest, fastest and cheapest to accomplish the set goals. This must be properly coordinated in an articulate manner to accomplish the set goal. Nevertheless, the easiest, fastest and cheapest as used in this context does not mean compromising standard. Indeed, operations standard must be maintained at all cost whilst pursuing the set goals of the firm.

A good business plan bridges the gap from ‘where we are’ and ‘what we have’ to ‘where we want to be’ as well what we want to achieve. A journey of thousand miles start from zero (where we are), which progresses steadily to the destination (where we want to be).

More so, a good business plan gives guidelines on the steps to be taking in a bid to achieve the target goals, whilst taking into account the realities of the available scarce resources. It must be well noted that every business is tied to the scope of available resources in order to achieve the desired goal(s).

8. Preparing a good business plan

In preparing a good business plan, it is crucial to find out whether or not (i) there exists viable market(s); or a new market platform can be created with easy for the product? (ii) How can the raw materials be obtained with ease? (iii) How can the skill labour be sourced with easy and at affordable cost? (iv) Is the necessary infrastructure readily available to facilitate operational activities? (v) The information on the costs of equipment, consumables and raw materials are known with absolute certainty. (vi) The sources of the expected income are known with absolute certainty, as well as been cost effective. (vii) There exists feasibility study report to guide the execution of the intended activities in the business plan.

Indeed, feasibility study report is the outcome of the preliminary investigation together with the analysis of the programmes outlined in a project to determine its viability, costs, resources requirements and profitability measures. Put differently, feasibility study report is a comprehensive details required for the business planning process. According to [ 7 ], feasibility study report communicates project’s potentials and the liabilities associated with it within a given period. The report provides all the necessary guides for plan preparation from initiation to project execution. Furthermore, it gives direction to rational decision-making and provides whether or not to undertake the business. It also pertinent to note that no known fixed approach(es) to define feasibility study report exists. However, a good feasibility study report must be detailed, comprehensive and clear enough to assist the entrepreneur in making the right business decision.

9. Features of a good feasibility study

Provides the foreground information for the business plan

It contains market details in the study report

It reflects on technical details in the study report

It consists of detail financial implication analysis in report

Background information : the feasibility study report should contain basic information about the project such as the name of the enterprise; location details, a brief description of the project, the business history, nature of business, organisational type and the organogram showing decision hierarchy.

Market study : this should include general market information, demand/supply analysis, competitive position, and the marketing programmes together with sales projection as appropriate.

Technical study : this must include the description of the product to be produced, the market process, business size and production schedules. It should also describe the machinery and equipment layout with a comparative note for alternative in terms of cost, and reliability. More so, a mention of location, facilities layout for the production process, labour, utilities and raw materials in the plan is paramount.

Financial analysis : the financial analysis component of the business plan deals with say, 5 years financial projection for an existing business; detail costs and earning from the business to evaluate rate of returns; and, fund sourcing for a new project. It is also part of financial analysis to take into account, the initial requirements, pre-operation cash-flow and financial projection for new projects, whilst consolidating the existing ones. In a nutshell, the overall financial appraisal need to reflect the total initial capital investment and recurrent expenses; projection of income flow with profit profile indications; cash-flow and rate of returns; as well as the capital needs of the business intent.

On note of these backdrop discussions, agribusiness value-chain actors should bear in mind the facts that feasibility study report is not synonymous to ‘business plan’. Indeed, both terms are related but should not be mistaken to mean the same. Whilst ‘business plan’ is a statement describing what is to be done, how feasible or viable is it; the feasibility study explicitly conveys the viability of a business after data gathering and analysis, it comes up with a report, which serves as input for deciding the structure of a business plan. This means feasibility study precedes business plan as raw material.

10. Writing a good business plan

The purpose of the plan : this help to define the nature and the needs of the society. This is where the question, ‘what to produce’ comes in. agribusiness value-chains actors must focus on the consumers’ needs, build them in the product to satisfy those needs; otherwise, the resources expended becomes a mere waste. Under the purpose of a business plan, the vision and mission of the business investors are expressed articulately. The vision entails seeing the opportunities as a motivation for going into the business. Whilst the mission entails the unique statement of the aims for venturing into the enterprise, amidst many other strategic alternatives. Take a livestock farming for instance, the vision will be to provide the chickens and/or eggs needs of the consumers; whilst the mission is to make profit and create micro employments in the society.

The business objectives : every business intent has certain objectives to achieve through articulate business plan. A good business objective must be SMART, that is, it should be specific, measurable, achievable, reliable, and time bound.

The business scope : the scope as used here refers to the description of the key operations in the business. They include the product(s) line and sizes; the product’s alternatives or substitutes; the product’s pricing and customers’ services; and, the departmentalisation or segmentation of the productive units.

Production plans : this refers to the statements of intent on the chosen product(s) with various elements like what to produce; product nature, in terms of quality, availability, durability and affordability; production method(s); plant with equipment requirements; sources of raw materials; site location and facilities layouts; financial analysis and budgeting; plant and facilities maintenance; and risks mitigations.

Marketing management plan : this plan involves selecting the appropriate markets to serve, knowing your customers (KYC); understand the demand patterns and competitive trends; the product pricing policy; and, the promotion and market channels i.e. advertising modes like online, radio, television, social media, newspapers and magazines.

Staffing and workflows plan : this segment largely focus on the organisational structure(s) to be adopted; the workforce plans; the sourcing and mode recruitments; the manpower training and development; and, the manpower appraisal, motivations and general welfares.

Finance plans : this plan specifies allocation of funds among business subunits. Agribusiness investors must keep in mind the needs for proper and efficient allocation of scarce financial resources of the enterprise. Since finance is the pivot of every business, agribusiness investors should note that financial failure could spell dome for the attainment of the set goals of the business venture.

11. Conclusions

This chapter provides a guide for synthesising planning and entrepreneurial skills to help famers, micro investors, and local authorities to engage in small-scale agribusiness value-chains in Nigeria. It provides alternatives business strategic options for harnessing agribusinesses potentials, ranging from production, distribution, processing of agricultural products to service integration in such a manner to convert agricultural outputs for regular and timely supply of domestic and international needs. More so, this chapter help in ameliorating the current outcry for economic diversification to generate employment for teaming youths in Nigeria. Indeed, most agribusiness investors in Nigeria, experience failure due to the dearth of requisite business planning skills for the survival and growth of small-scale agribusiness value chains in the face of modern realities. Thus, this brief provides literal support for the concerted efforts of government to boost the agriculture sector as a viable alternative to over reliance on oil sector and to meet up the challenges of growth and development posed by global economic meltdown.

12. Recommendations

This chapter is recommended for use as reference material for current and prospective small-scale agribusiness investors to brings benefits such as risk reduction, cost savings, and high income generation through combination of known production planning and business management skills. This brief adopts discursive taxonomy, interpolating elicited facts from available literature, couples with the knowledge of on-the-job-experience to promote and support the development of businesses strategy for the transformation of the agricultural sector value-chains in Nigeria.

1. Olagunju FI, Adeyemo R. Evaluation of the operational performance of the Nigerian Agricultural Credit Cooperative and Rural Development, (NACRDB) South-Western Nigeria. International Journal of Agricultural Economics and Rural Development (IJAERD9). 2008; 1 (1):53-67
2. UNDP. Sustainable Development Goals . United Nations Development Programme . 2006. Available from: https://www.undp.org/content/undp/en/home/librarypage/corporate/undp_in_action_2006.html
3. SMEDAN. Survey Report on Micro, Small and Medium Enterprises (MSMEs) in Nigeria: 2010 National MSME collaborative Survey. Available from: http://smedan.gov.ng/images/collaborative%20survey%20report.smedan-nbs.pdf
4. Otiti OG. Essays on Recent Issues in the Nigerian Financial System. Lagos: CIBN Press Limited; 2007
5. Pilon A. 50 Small Agricultural Business Ideas. 2019. Available from: www.smallbiztrends.com/2016/12/agricultural-business
6. Ubom EE. Entrepreneurship, Small and Medium Enterprises: Theory, Practice & Policies. Lagos: Sendina Limited; 2006
7. Nwoye M. Small business enterprises - How to start and succeed. In: Benin City, Benin Social Series for Africa. Enlarge Edition. 1994

© 2020 The Author(s). Licensee IntechOpen. This chapter is distributed under the terms of the Creative Commons Attribution 3.0 License , which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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Nigerian Finder

100 Small Scale Business Ideas in Nigeria (2024)

Are you searching for hot and profitable business ideas in Nigeria ? Then you have come to the right place.

I have noticed that contrary to what most people think, capital is not the greatest challenge of starting a business ; the greatest challenge is getting a very good business idea.

If you have capital and have no solid business idea in place, then there is a huge probability that you would end up wasting your resources by investing in a business that wouldn’t bring you attractive returns. The advertising singapore has greatly contributed to the growth of businesses and the economy.

This is why every potential business owner must take out the time to research profitable business ideas before they invest in them.Well you will notice that most of these business does SEO services for their digital existence,For that you must have idea about how long does SEO take time to expand business.

To make it easier for you, we have analyzed 100 hot small scale businesses guaranteed to bring you huge profit in Nigeria.

Quail Bird Farming
Catering Services(Indoor and Outdoor)
Mobile food Vending
Computer Training Centre
Computer Repair and Accessories Sales.
Mobile Phone Sales and Repairs
Rental Services
Food Processing
Cement Sales and Distribution
Frozen food Sales
Pure and Bottled Water Production
Livestock Farming
Poultry Farming
Used Car Sales

Social Media Marketing

Freelance Writing
Mini-Importation
Exportation
Cooking Gas Sales
Recruitment Agency
Uniform Making factory
Ready-to-wear cloths making
Haulage and Logistics
Transportation
Online Marketing
Bulk SMS Services
Daycare Centre/Crèche
Small Scale Manufacturing
Scrap metal sales
Waste Management Services
Pet Breeding
Animal feed production
Ethanol Production
Software and games development
Security gadget sales
Cleaning Services
Recharge Card Printing and Sales
Sports Viewing Centers

Sports Betting Agency

Building Blocks Production.
Art Gallery
Ice Cream Production
Jewelry making
Travel agency
Natural Fruit Juice Production
Photography and Videography
Magazine Publication
Monogramming and Branding Services
Weight Loss Consultancy
Biscuit Production
Printing and Book Production
Private Library Services
Hairdressing Salon
Nail Studio( Manicure and Pedicure)
Selling Fruits
Selling honey
Affiliate marketing
Personal Fitness Instructor
Business broker
Car Wash and Detailing Services
Dating Service
Make-up Artist
Video game Center
Pharmaceutical company
Stock Photography
Art brokerage
Resume writing
Online Vitamin/Health Food Store
Virtual assistant
Pest control
Car Rentals
Nanny agency
Mail-order business
Ice block production
Night Clubs and Restaurants
Solar energy installation and equipment sales
Antique Furniture Sales
Laundry Service
Virtual Call Center
SEO Consultant
Gift Baskets
Disc Jockey (DJ)
Personal Shopper & Errand Service
Wine Production
Sports Collectible Shop
Funeral Arrangement Company
Oil Palm Plantation
Internet Radio Station
Online Clothing Store
Modeling and Event Ushering
Marketer/PR Agent
Fashion Stylist
Automobile Repairs and Fleet Management Services
Facility Management Services
Appliance Repair Service
House Painting
Alternative Power Supply
Security Gadget Sales and Installations.

Small Scale Business Ideas in Nigeria: Additional Options for You

Raw food stuff business.

Nigerians are food lovers and prefer to eat homemade food than fast foods. You can go into the business of selling food items such as rice, beans, garri, that are often used in preparing dishes.

Daycare Business

Day care centers make good money because mothers still need to go to work after child birth. You can go into running a day care center. You will only need to register your business and buy necessary equipment.

Dry Cleaning Business

The dry cleaning business is one of the fastest growing businesses in Nigeria. People are often overwhelmed by work and may not have the time to wash their clothes. This is why the dry cleaning business is still in demand.

Restaurant Business

Are you a great cook or do not mind learning how to cook professionally? Then you should look into starting your restaurant business.

Car Rental Business

People need cars to drive around, but not everyone can afford a car at this time. This is where a car rental business would come to play. Before going into the car rental business, ensure you learn the ropes of the business well.

Bakery Business

Nigerians love to eat pastries, such as cake and bread. Before starting this business, ensure you get all necessary information to be successful. You might need to go to a catering school in order to get started.

Hamper Business

The hamper business is such that booms in certain seasons such as valentine or Christmas seasons. If you are good at organizing gifts, you should look at going into the hamper business.

Graphic Design Business

If you are arts inclined and creative, you should consider going into graphics design business. Even if you do not know how to design, you can learn from the scratch.

Phone Repair Business

Businesses surrounding the use of phone thrive because everyone has a phone and it needs repairs one time or the other. You can get phone repair skills so you get your money from repairing phones for others.

Gym Business

If you are a fitness and health enthusiast, then you can look into starting a gym business. All you will need is enough finances to equip your gym center.

Wine Bar Business

Wine is a favorite drink in clubs, restaurants and homes. You can look into starting a wine business. You only have to make sure you choose a great location for this.

Transport Business

People have to move from one place to the other for many purposes such as business. Many do not have cars and will need a good and reliable transport business to take them from one place to the other. Start a transport business by first determining if you want your transport business to run within a state or inter states.

Jewelry Line Business

To start a jewelry line business, all you need is reliable suppliers who will give you jewelry in bulk and also give you at a discounted price.

Party Rental Business

Nigerians love parties. You will never run out of service as long as you provide great services. You can supply equipment used at parties.

Pizza Delivery business

You can start a pizza production and delivery business right from your kitchen. Get creative with it by making different options such as chicken pizzas, Hawaiian pizzas, Italian sausage pizzas, barbecue pizzas. You will have people patronize your business.

Nursing Home Business

You can set up a business that provides people to take care of elderly ones and babies at home. In major cities, the nursing home business turns in lots of profits as people are usually too busy to attend to these things and will rather outsource the tasks.

Poultry farm Business

Poultry farming is a very profitable business that could earn you millions. However, the poultry farming business needs lots of caution and care. You also need to define your target audience and what poultry product you want to sell. For example, eggs or chicken meat itself

Cosmetics Business

The beauty industry is a very profitable one. It takes lots of hard work and research but will turn out good if you put in the work.

Microfinance Business

If you have the capital or can source for funds, you can get into a microfinance business. All you need is a good business plan to guide you on what to do per time.

Tailoring Business

The art of tailoring will continue to be a much demanded service in Nigeria. If you have an eye for fashion, you should consider tailoring. These ones will pay you to look beautiful.

Tomato Farming Business

Starting a tomato farming business does not require too much capital. All you need is a good supply plug such as a farm. Ensure you do your research and get expertise advice. These ones will let you know what variety of tomatoes are in demand and will sell.

Wood working Business

In order to start a wood work or furniture business, you need to have learnt the skill and done enough research for marketing and business management purposes

Agricultural business

You can start an agriculture related business such as crop farming. This is a business that will always be in demand because food is a necessity. Farming on a commercial scale is a very profitable business in Nigeria.

Fish farming Business

Fish farming is one of the least stressful forms of farming in Nigeria. All you need is the capital to start the business such as building a fish pond and stocking up. You will also need to research so you have sufficient knowledge about the business.

Organic farming Business

Organic products take time to mature unlike the others that are fertilized. However, organic products are also in high demand as people are turning away from fertilized products due to health reasons.

Shipping Company

Shipping business is one of the most profitable Nigerian businesses. You would have a high turnover in terms of profit.

Real estate Investment Business

There are huge potentials for wealth building in real estate although it can be a very risky endeavor. There is the need to be well researched on the opportunities that abound in the real estate market or else one will get himself in trouble. One should also understand the financial and legal issues that surround the real estate market.

Electronics Repair Business

You can start an electronic repair shop after you have been trained on how to get the work done. Starting an electronics repair shop requires little capital after money spent on learning. There are many who have gone into electronic repairs in Nigeria and are now doing well for themselves. People continue to require the services of an electrician.

Courier Service Business

A courier service helps to deliver products. The courier business acts as a middle man between the manufacturer and the retailer or consumer. There is much profit to be made in this business. Before you begin, ensure you get your facts right and then write a well detailed business plan to guide you on the business journey.

Freelance Writing Business

You can be a writer and work from home. All you need to start this business, is a laptop and time. This business can also work as a side hustle which you combine with your main job. You can also engage in this in order to build up a broader portfolio of skills.

Arts and Crafts Business

Do you have a flair for art? It does not matter if you can paint or draw yourself. As long as you can get the products and sell them. If you have a good network of people who would be willing to pay for an art piece, then get the piece from the producer and sell to them. These small scale businesses are such that you can combine with other jobs if you have the capacity to do so. Remember that making wealth comes from garnering profit from as many places as you can.

Clothing Store

A clothing store, otherwise known as boutique is a profitable business. Nigerians do not play with their looks. You can get a reliable supplier who would provide you with clothing and accessories. You can make your clothing store strictly a designer based one or sell a mix of designers’ labels (brands).

Pest Control Business

Pest control has to do with the removal or eradication of pests in the environment. The pest control business has to do with removing pests such as harmful insects, rodent and reptiles in farms, commercial and residential properties. People are becoming more aware of the dangers that harmful animals pose. You will find this to be a good business.

Gaming Business

Starting a gaming business requires that you learn how it is done. It is a profitable business as many people love gaming. All you need is the capital to get the equipment needed.

Fabric Business

The fabric business is a very wide one with lots of options and opportunities. You can decide on which fabric you want to focus on. Ensure that you have a reliable supplier before going into the business. You also need a good mentor to guide you through the intricacies of the business.

Funeral Home business

You can go into a funeral home business that supplies people with funeral accessories. This business is one that is always in demand.

Solar panel repair business

The solar panel repair is for those who are technologically inclined. You also need to have gone for sufficient training in order to do the job well.

C upcake Business

Many people love cakes in Nigeria. You can go into the business of making cupcakes which you supply to as many people such as road side sellers, and even direct customers etc.

The blogging business is for anyone who has the capability to write. It is one of the best ways to make money while working from home. All you need to start your blogging business is good internet access, good research skill, a laptop and time to invest.

Sale of Mobile Phone Accessories

With as little as N50,000 naira, you can start the sales of mobile phone accessories. You can choose to rent a space where you would be selling from, you can also sell online and deliver the products to where they are needed.

Plantain Chips Production and Sales

This is a very easy to start business. You can start right from your kitchen. All you will need to do is place your brand name on the nylon of your plantain chips, and you are good to go.

Ice block Production and Sale

Nigeria is located within the tropical climate region where there is an abundance of sunlight and heat. This is why ice block production and sales is a lucrative business here.

Liquid soap production

The market for soap in Nigeria is so large that even the well-established brands are not fully meeting the demands. This is one business you should consider.

You need only a little capital to start a car wash center. You can spice things up by setting up a sitting area decorated with a TV set where your customers can sit while their cars are being washed.

Mini Importation

Search all the eCommerce websites available then get a procurement agent to purchase these items. The agent will then send the products to you, which you will then sell.

Information Marketing

You can make money by making information into different forms such as a report, an ebook, video, or audio and then sell online.

Affiliate Marketing

Affiliate marketing has to do with selling products of a manufacturer by promoting the products on social media using your own affiliate link. You get a cut from the profit when you sell these products. Products you can sell during affiliate marketing includes digital products or physical products. You can sign on with as many affiliate programs as you want and make money.

Website Design and Maintenance

Many businesses and individuals now have an online presence. These ones need someone to manage their online platforms.

Call Card Business

This is another popular business in Nigeria. There is hardly any adult who doesn’t own a phone and would need to recharge from time to time.

Food Cart/Mobile Food Business

Food is one of the primary needs of man. It is no surprise it is one of the fastest selling products in Nigeria. If you want to start small, consider starting a food cart or food truck business.

Many people are caught up in the world of sports and are willing to spend a fortune on it. All you need is a neat office space, a generator, a computer, a printer, an internet connection, and a fixtures board.

Cloth Designing and Tailoring

Fashion designing business requires having the skills. This is a business that can never go extinct because people will keep needing to wear clothes.

Okrika Bale Business

The okrika bale business has to do with selling second hand products such as clothes and shoes. This business is thriving very well in Nigeria because of the poor economy of the country.

Uberpreneur – Driving for Uber

Another business you can start is registering with a transport company such as Uber and driving for them.

Small Chops Packaging

Small chops is a light meal that many now use in occasions and parties. Starting a small chops packaging business is a lucrative business idea in Nigeria.

Email Marketing Business

E-mail marketing is a means of advertising that is expected to grow in the coming years. You can start an e-mail marketing business and can be sure to expand as the years go by.

Consider social media marketing as the Social media space is an important tool used to drive visibility and profitability of businesses.

Many are doing well in the dry cleaning business. You should consider starting one too.

You can open a restaurant in Nigeria. This is another business that has been on the rise.

There are times people want to own a car for a few days for personal needs. You can go into renting out cars.

Eggs Supply and Distribution

You can go into the supply of eggs to business such as cosmetics companies, restaurants etc. You can get your supplies from a poultry farm.

Hire purchase services

An hire purchase service is one where the buyer makes an initial down payment and pays the balance over time, with additional interests. For example, you can buy a vehicle and then give it out to a driver for a specified period of time in return for a higher price than you bought it.

Start a Yoga Studio

Yoga is fast gaining acceptance in Nigeria. Catch on the new trend and make money off it.

Become a YouTuber

You can start a YouTube business and make money in Nigeria.

Interior decoration

All you need is a proper training in order to run a lucrative interior decoration business.

Wallpaper Sales and Instalment

Wallpaper is a preferred technology used to beautify the house. It is a very lucrative business.

Consultancy Business

If you have professional knowledge in any field such as marketing, sales, career, social media, etiquette, you can offer to teach people about it in exchange for some money.

Makeup Business

Make up is one of the most profitable businesses in Nigeria. All you will need is the capital to buy the equipment you need to start, you can then acquire more as you go on.

Shoe Manufacturing

Many are starting to buy more made in Nigeria products. You can consider shoe manufacturing.

You can consider being a master of ceremony at events. Nigerians are fun loving people and needless to say, this business will thrive.

Custom clothing

People love to wear their custom T-shirts and polos with their own specific designs and inscriptions. You can go into the business of customizing shirts and other items.

Auto-Repair Shop

An Auto-repair shop is lucrative business, not only in Nigeria but all over the globe. This is because people will always need to have their cars fixed. In order to run this business successfully, you must learn all you need to know about cars and repairs.

Aquaponics business

Aquaponics has to do with growing plants without soil, using waste from aquatic creatures to provide nutrients to the plants. This is a business you can start in your compound.

Pizza business

You can start a pizza business from home. Many Nigerians love pizzas and you can make money from this.

Cupcake Business

Many people love cupcakes. You can learn how to make them and sell.

Boutique Business

The business of selling fashionable items is one that will not fade because people love to look good. You can sell jewellery, clothes, shoes, bags etc.

168 thoughts on “100 Small Scale Business Ideas in Nigeria (2024)”

Please I’m currently open to driver/driving jobs in ilorin, kwara state. 08145400469 is how to reach me by text.

Thanks so much man. Please I do Computer Home Tutorial within Port Harcourt Rivers State. Of any one is interested or have someone please refer. 09027909810 Thanks

How can I create a website for blogging

I’m a graphic designer, web designer and development, mobile App developer and logo maker . We can work together to achieve the great website you need

Plz I need a Business startup plan with #450k capital in Southwest…..08068536360, [email protected]

I’M AN ELECTRICIAN I WIRE HOUSE AND DO OTHER ELECTRICAL THING BUT I’M FROM DELTA STATE PLS CALL ME ON 07080056235

Pls I need a good business start up plan with 500k capital

Welll I truly enjoyed reading it. This post provided by you is very effective for good planning.

pls I want to go into fish farming/sport viewing centre and I need serious advice on how to start. 08133304315…pls if u can help I’ll really appreciate.

we are looking for business partners@ Dirable Enterprise located in Aba.we are into footwears and leather bag production.contact us: 08137183251,email: [email protected]

I am interested

Greetings Kaygold, What part of Southwest to be specific?

Good Afternoon Mr. Olisa please I will like to know how I can be a part of your business. Am based in Lagos and am looking for a business to venture into.

we are looking for business partners@ Dirable Enterprise located in Aba.contact us: 08137183251,email: [email protected]

Consult Amalfred for Fish farming and poultry 08068790623 [email protected] Jil Nigeria Lagos, Osun,and Yenagoa

pls am interested in phone and accessories selling… pls I need location in south west n where to buy it

Hi Am Lilian, i sell gorgeous ladies handbags at wholesales/Retails. Check my page on Instagram page @Lilys_Collections_ and I also teach people who want to start thier business about mini-importatation. Call or Whatsapp: 08184999868

Please can anybody teach me how to make a good bread

wow~this is great and educative! JAH BLESS THE FOUNDA OF DX PLATFORM~ well am into porp corn business~i started with 150k 3month after i was able to realise 300k~~~plz i need an advice i want to invext in pox business~~MY DIGIT 08188555677

we want to start used cloth business in bales in Nigeria. does any one guide us? thanks.

I am temitope how can I get card machine to start printing I need a business I can be doing

Visit afrimag.com.ng and search for what you are looking for. Hope it helps.

Hello everyone, my name is Praise Nwolisa. I am a yam farmer, I base in the northern part of the country.. I need business partners to go a large scale and make cool profit after a short while. If interested please contact me via my mail: [email protected] or call me on 08120217841. Thanks to you all.

Jeya Send me your email address, I’ll send you details of what you will need.

Am seriously inspired by the post. Am interested in Solar panels repair and marketing/Phone repair and marketing. I need a serious personality/Company to partner with in this business within Ogun State. interested partner can contact me through 08030833963. Thanks.

HELLO SIR,,I AM INTERESTED

Hello! My name is Alex. What a great post you have up there, thank you very much. I need advice on what business I can invest #5million now and get good return after few months. My mail is [email protected] . I welcome all suggestions. Thanks in advance!

Agriculture sector has alot of lucrative enterprise u can embark on….. Just select as you can manage and see as ur 5million triple annually

Every business needs a web present even pepper sellers today own a website. Am a website designer. Contact me and own a business website for just #8500. 08066882230

I am interested my phone is 08030723295

Pls who can help me on nylon production, pure water nylon, polybag etc… Pls WhatsApp me 08053327129

I need a Computer professional to partner with in Computer business; (Computer training center, Computer sales, Cyber cafe and Computer accessories marketing). You can reach me on 08067466016 or leave a mail on [email protected] I’ll reply you as soon as possible. Come lets build our future together. God bless you.

where do you live chigozie Success this is also my passion and i knew a good computer guru but he is not a stable and patient business personality he is now in his village at Nasarawa. erivigourventures @gmail.com SEND ME MAIL HERE.IF YOU CAN MANAGE HIM WELL THE LETS PARTNER

CHIGOZIE SUCCESS u can reach me on 07067469576 lets talk.

This is more educative than I thought

I’m very glad about these business ideas. I think the next line of action is to pick about three ideas from the list above and do a thorough research on them. God bless the author of this list. I’m equally looking for poultries around Lagos and it’s environs where I can get eggs. Please contact me via:08185787246. [email protected]

Is eggs is crates. If yes I can get it for u. Contact me on 07030922698

I am so happy to come across such a nice website to read different businesses opinion. My name is Bayo from Ogun State, But I reside in Okota, Lagos. I decided this morning to search online how to move forward in life because everything is just getting harder everyday here in Nigeria.

I am an International guy in the sense that I have traveled a lot all in the name of greener pasture before I return back home.

I have business ideas but no financial support at the moment. Any business you want to do is all about location.

1. Transportation business is fine, But don’t forget location and the driver matters a lot. Okoda, Maruwa and Mini Bus. I can assure you on it and payment every week will not fail. If failed the driver will have to drop it.

2. Housekeeping business in a very unique way. That will have a website to share on social media to gain customers all over places in Lagos.

3. Smoke Fish from the north to sell in Lagos and Palm oil.

4. Farming and Pond.

5. Bakery for Bread and Poultry for Egg

Pls because careful about online businesses. Many fake websites will be given all in the name of scamming you for your money.

Is me Christian for those that leave outside Lagos you can contact me 07084451222 for your business and waybill? please is for legit and genuine business

Hello, all name is Christian for those that leave outside Lagos you can contact me 07084451222 for your business and waybill. please is for legit and genuine business

Hello, all name is Christian for those that leave outside Lagos you can contact me 07084451222 for your business and waybill. please is for legit and genuine business oo

Thanks for all these business tips. I really appreciate the author. More grease to your elbow. I love doing business right from my secondary school days( JSS I). I ended up as a sole proprietor of many businesses and having registered my company, I included many more businesses which I project to do in the nearest future but based on the present economic situation of the country, I arrived at doing something more now. I need someone who can put me through on how to structure a bread industry and give me the details about the work. I also need people who can partner with me (Samest Excellent and Sons company Ltd. RC 1447349). I am into block making industry, building and construction and many others. Partners will receive 1/3 of the capital deposited to company yearly and the interest will double the capital after three years while the capital remains intact. The interest will be paid on monthly basis. You can contact me on 08030861601 or email @ [email protected] . Thanks.

I am a bakery consultant, I can assist you for the bread aspect

Aja Joseph I am equally interested in the bakery thing how do u intend to assist please?

Am interested

I am a bakery consultant, I can assist you for the bread aspect 08189236336.

pls i need an advise on SPORT Betting agency and sports viewing centers because i have big interest on the business…here my contact 08134875939..email: [email protected]

I’d like to start a small poultry business but I need professional tips on cost and possible challenges… please email me at [email protected]

you may contact me on [email protected] using your name as the SUBJECT of the mail.

I’d like to start a small poultry business but I need professional tips… anything you have can please be sent to my mail… I’d really appreciate it… [email protected]

anyone interested in the sales and distribution of oil and gas products such as diesel and kerosine in small scale of about 3000 litres for a start ?? if u re sincere, transparent and a serious business minded person, pls call me on 08098416550

Am interested.I live in Benin city,Edo state. What will be the minimum capital required to start the business. My regards

Hello please I have interest

Please I have interest

anybody interested in d sales and distribution of oil and gas products such diesel and kerosene in small scale of about 3000 liters for a start ?? if u re sincere, transparent and a serious business minded person, pls call me on 08098416550..

Comment Text*Good afternoon pls i need the oil and gas business

Am interested sir

Partnership in business is not a bad idea,so anyone interested in partnering with me to set up a cinema.Call 08105471526

Nigerians will always want to be spoon fed.. .u want answers dished out. Think up/out something, allow your brain the opportunity to work. You’ve been given 100 business ideas what more do you need? Do a research on the one that interests you ,considering your location. With your smart phone, you have nothing to worry about, even if you want to know how to commit suicide

what kind of business can i do with 500 thousand.pls i need u to help me with that.

Iam the CEO/Managing Director of Green Town Limited, Author with 3 Books Published, 16 Scientific and Business journals, Founder/ National President of Nigeria Youth Research Association (NYRA), Chief Consultant with Science Orientation and Research Association (SORA), Bussines and Srategic Consultant with Laweresoft ICT solutions, Motivational Spearker, Personal Fitness Instructor, and Public Health Officer. Iam intersted in passionate Enterprenuers who are willing and ready to change our Country Nigeria with the Positive Power of Bussines. To be sucessful you must be focus, determined, and never give-up on your dreams, with blue knowledege of all kind of risk you involve your self. But the fact about Bussines is Plans and Action taking because it a Dream that is subjectable to Reality. For Consultations Pls… Contact: 08108706179 or 08183888492 email: [email protected]

pls i want to start a daycare/creche,how do i go about it and how much can it cost me.

pls I want to start a car washing business please I need ur advice

Am interested in generating recharge cards,but how can I get the machine?? Am from Jos North, Plateau State.

Some of the write up here were originated from scammers, please be wise less they part ways with your add earn income,I think the best thing for you to do is ro research into the listed areas of business and see the one you are most passionate about,and where your strength lies,be warned all that glitters is no gold

did anyone ask you to bring money, what is your valid proof I’m a consultant I have my own firm, thriving presently but I found this blog educative add up to info I shared in my just concluded business seminar. make use of information rather than useless it.

You Make Sense guy

Good ideas. pls include how to make bar soaps that would be sold at low prices. keep on with the good job.

Pls I want to start white board marker biz pls I need help cos I don’t know how to start and how much it will cost

This is wonderful infor. I’m into Farming, For your Cassava Crop, Agro-Chemicals supplying, Farm establishments/ Maintenance, Pest/Weeds control or farm land needs. For such businesses, you can reach me on: +2348063763117 or Email: [email protected] . Goodluck!

CANDLE PRODUCTION candle business is rocking in every part of Nigeria ,there’s always a village and areas without light ,churches,religious groups events etc that will always HV need for this product in Nigeria, till now candle is still being imported to Nigeria in large quantity ,u can start a candle production business with 100k and its a small scale business that u can make into a large scale if u wish call me on this number for more info on how to go about this @ (09074733916) or mail me @ [email protected]

Hello Dear my name is jackson,i wrote you on your email for the production of candle

Please I need your help on the production of Candle

How can I start with candle product please

I Want To Work Under Someone Please To Sell For Him

Where are you located?

pls were can i buy palm oil processing machine small scale, and cost.

Pls great minds,Where can I buy cheap local palmoil processing Machine in Nigeria

For me to start online training on how to sew clothes,what is the procedure?Where do I start from.What other related business can I do in Nigeria with 100k.

hello Funmi,how is your online fashion business. or you have not started. I can partner with you if you are keen. chat me up on [email protected]

hello funmi how about u going into candle production or chalk production with 100k u can start any of the two

hi Tejiri, how can I go about the candle production nor chalk? I just hv 100k with me and a fresh graduate just finishing my NYSC scheme. How do I get started… call me via any of this number, 07057317519 or 07037365627.

get an online store where you will have loads of collections of wears, other bix u can think about if u’r in Lagos is okrika(akube) business more info whatsapp: 08163359863

Very simple , ACTION PLAN: go online and check and check for people who are doing a similar thing, don’t worry about how many people that are into it already because the sky is big enough for all birds to fly, what you should look out for is what makes Your sewing and teaching and unique different from others ,because You can’t do the exact same thing with others and expect to stand out. 2. After You’ve discovered how to make Your sewing unique and different from others “cause that’ll be Your selling point”, You now launch out, how? You might be asking, I’ll tell You everything for free just say a simple “Thank You”in the end. 3. With Your camera phone make short and simple videos, taking each step one at a time, for instance how to sew a collar or how to join a sleeve to a shirt(if You have a problem making this video just contact me on wattsapp 08023904830) , be sure to keep it short and simple employing Your unique style of sewing or explaining. 3. Bear in mind that You are not going to put money making first but look for a way to impact someone and touch lives if sewing is Your passion money will definitely come pumping in,be sure to give Your videos titles that will bring Your audience to to find them and come viewing them, because people now learn on the Internet instead of enrolling in institutions. If Your audience find Your teaching useful and helpful they’ll react by telling You, when People begin to enjoy and appreciate what You are doing contact me and I’ll tell You how to make legitimate money from what You are doing. Thanks

Please can you provide me detail analysis of how to start a snail business, from the start to the finish. Inclusive cost and where to get good products for a start.

If really u are interested contact [email protected] for info and cost.

Please I need business plan for poultry ( broilers ) farm

I can be of help to you. Contact: 08139166928. I will not just give you the plan but follow you up till you start making money from it.

I am an indian based in Bahrain. I want to start a business in your country. What is the procedures?

Send me an email on [email protected]

The amazing business I found is logistic courier service, just get a bike and deliver for peoples

I would like to work with you! You can contact me via my email: [email protected]

You can also put your a little of your time and money in good “Net working business” like HAPPY WORLD MEAL GATE. Unlike other networking business, you are not given target,only you yourself can determine how far and fast you want to go.

what does this networking business look like, I am interested

Godday contact me on wattsapp 08023904830)let’s talk. Thanks

Do you mean Nigeria?. We can offer you a consultancy service.First of all is to ask our lawyer to register your company name with cooperate affairs commission.If you are interested,I can help you with a detailed blue print.But I need to know the kind of business and preferred state for your operation.Invade,you don’t know where to take off state wise we can advise you.

hello Jeya. Please send me an email at [email protected] . I am a lawyer and i can take you through the legal and regulatory processes for starting a business in Nigeria.

its not what we can discuss here call 08066366849

Contact me @[email protected]

Call me on these numbers or email below; 08155841414&07988069620. Thanks. Adelakun.

What area of business are you interested in? I will like to work with you if you are truly interested. Thank you.

Contact me on 08065057294 or [email protected]

Send me your email address, I’ll send you details of what you will need.

Like what type of business? I have been looking for a business partner from India for Hair Wigs and Bundles, can you be off help here’s my WhatsApp number +2347030102300 Contact me with it

Pls I want to start a quail birds farming how do I go with it as a lady and how many can I start with

What is quirl bird farming pls?

Pls I want to start a quail birds farming as a lady what advice can u give and how many can I start with

pls I want to start cement sales and distribution, pls how do I go abt it.

pls I want to start up a school chalk business. can it give me a nice return I want to know before buying d mould

You may not be well patronized because most schools are now using marker.

Pls I want to start a white board marker biz. Pls how do I go about it and how much will it cost me

Thank you for your professional advise

How many schools uses chalk again except public school shao

I like the candle business but how can i go about it I am Jennifer

I WANT TO SETUP CAFE BUSINESS PLS WHO CAN PUT ME THROUG

Think twice, when last have u visited cafe ?

please want to start up a comercial transport business,where can i find a dealer? and how much?

Wow.this are inspiring stuffs

What about kerosene business how profitable is it, cos am thinking of going into that bid

Kerosine business is very lucrative and profitable, but location have to be consider

Pls what kind of business can 2,million do in Lagos.a man business.. Lagos island

u can go into sales and distribution of diesel and kerosine in small scale with that amount… if u re interested call me on 08098416550 my name is benjamin and i reside in portharcourt..

I want to start provision, I need advice

i want to be buying shares

Want to invest pure water production pls advice

Hi Fola, before you go into pure water production you need to get the basic requrements such as the space, preparing the bole hole and treatment Tanks. Meaning you have to hire a bole hole drilling expert and also a water treatment chemist. Again, you have to get pure water sealing machines, waterproof for sealing the water. So what I mean is that you have to get the necessary machines for the business. Then When you are done with these you then hire workers.This is why you need to have knowledge about the business. I recently published 7 Facts to Hold Before You Apply Any Business Ideas in Nigeria Today. And that is the reason why I published that post.

pls can u link me a company dat’s dealing with chemica business

Majority of those requesting for more info on these business ideas won’t do anything when they are given the details. For those who want to do something, they have already started gathering additional information and are even ready to pay for consultation. Nah money dem dey take find money. Thanks admin.

Good ideas one can also start up an (MLM)multi-level marketing business in NIGERIA they’re a lot of company that offers good startup fund in multi-level marketing like GROWING CIRCLE IN’T LTD I have been working with the company for three weeks and am making good income from them the start up fund can be as low as 10k.

dear Jude, please kindly brief me more on this (MLM) It sounds interesting. thanks

Pls, Mr. Jude, the MLM business sounds interesting. I want to partake. Can you explain more on the business idea? Maybe we could talk better through my contact @ 08065444167.

Would like if you can put me through the nitty-gritty. Emails :[email protected]

This is an educative platform u have here. And thanks for the business ideas u … Pls I will like to go into frozen food business, how much will it cost me, and how do I go about it… What is criteria I need guidance pls.

good information for your transformation be wise

Wow! A comprehensive list of business ideas for anyone who wants to change his financial status. Like every other comments, I’d like you to give a brief overview of each of the business idea you listed. This will help us make informed decision on any of the ideas listed above.

Btw, you didn’t include food stuff business like yam, maize selling and supply, egusi, etc.

I need to know about frozen foods and hairs

pls I want to start selling clothes, pls I need ur ideas thanks

@ fred,it’s always good to have good knowledge of the business you want to do, i can be of help to guide you with my years of experience as a fashion designer and stylist. You can reach me on 08023980404 or [email protected]

Loaded information,tnx

@ precious, u can contact me on 08023980404,I’m a trained fashion designer/entrepreneur,i can put u through on how to get cheap quality clothing items for your boutique and i also conduct training on unisex dress making.

NICE BUSINESS ADVICE I WILL LIKE TO START QUAIL BIRD FARMING HOW MUCH WILL I NEED TO START THE BUSINESS

Thanks NF Author for these ideas listed here. And for my friends here who are requesting for a detailed explanation, you just have to on your own google a lot of things online in order to get a starting point. I am a Website Designer and IT Consultant and major in Social Media Marketing, all these, I got an idea and went online to search for more info, got them, went for the training and today I make a living off them. FYI: I operate from my house. Most listed businesses here don’t need a starter renting an apartment, you can start over 70% business ideas here even from your living room. All you require is the determination, training (optional) and the positive spirit. These are just my opinion. God bless us all.

Can you give your number for possible mentoring? Just did an online introduction training on web design and development am particularly interested in web design so i will like some mentoring as to putting it to work better and possibly earning a living on it. Thank you.

Good day, Can we communicate please? Send me a message via whatsapp 07037140905, E-mail: [email protected] Thank you

HI PAUL AM INTERESTED IN WEDSITE DESIGN AND SOCIAL MEDIA MARKETING HAS BEEN RESEARCHING ON THEM, YET ONE STILL NEED TO GUIDE YOU ON SOME CERTAIN THINGS. PLS I NEED HELP

pls i want u 2 explain how 2 invest on oil plantation

thanks 4 ur great information@chris ride on

how to start a cloth business. where to import cheap cloth for my boutique

want to go into clothing business @Precious

You need to have the rigth info about whatever business you want to start, you can reach me on 08023980404 for advice and guidance on clothing business.Im a fashion designer, stylist and an entrepreneur with years of experience.

Same here please where can I get it

How do I improve my sort loan business through accessing better Capital. I have been running the business for over 5 years now.

thanks u for all this idea. I would ve go for monogram& branding but d cost of m/c is expensive & d once I knew is up to #5000000 called silista. do u know anyone apart from this?.

Thank you for the information. Those asking for more information, don’t you think that you should do your own homework based on conditions that apply to you and the area where you intend to start the selected business? Honestly if you cannot dedicate time to do your own research then you probably have no business starting a business #justsaying

This is good. Very informative

Pls I want further explanation on how to get gud client/connection.I’m a cinematographer,,,,,,I snap still photo,covering of social gathering both video and photographs,I’m into shooting of movie and musical,I direct aswell,,,,,,but things is not pretty going on well with my biz since I graduated from school,though lack of adequate capital 2 found d business is one of d factors…….but as a matter of fact I want 2 knw hw 2 get right client and connection.

Please I need more explanation on every business ideas listed above cos I’m interested in d hair dressing salon n want to knw more.thanx

good business ideas, am learning so much reading this now

Great Business Ideas! We need these Ideas for Young People in this Country, Nigeria.

i support tht comment. its good to hear bout this ideas, but a little info wont hurt. like start up requiremenr, possible challenges et al

Good businesses. I was thinking each business should be given a little analysis such as startup capital. This will guide the investor and also provide diversity.

What kind of small business can I start in Nigeria?

Table of Contents

Before you can adequately identify the kind of small scale business in Nigeria you want to venture into, you must first understand the basics of what a small scale business is and all it entails.

Business in every economy is divided into three basic parts which are primary, secondary and tertiary.

Primary business:

This Deals with the extraction of raw materials and sells them to manufacturing industries for further processing.

In this business model, the final products do not go through any process of transformation but they may undergo selection to pick out the best. Eg; farming business, mining business, crude oil extraction, and rearing of animals.

Secondary businesses

This Deals with the manufacturing or transformation of raw materials gotten from the primary businesses into finished or semi-finished goods that ultimately satisfy human wants or business wants. E.g biscuit factory, bakery, sugar factory. E.t.c

Tertiary businesses

These are enterprises that are service focused and utilize finished or semi-finished goods manufactured by secondary businesses to satisfy economic wants. E.g salons, hotels and restaurants.

I believe we have been able to lay a solid foundation on the basis of business, what’s left is for you to decide the type of business you want to venture into under these three parts of business.

There are numerous kinds of Small scale businesses in Nigeria you can start with little to no capital. We have compiled a list of small scale business in Nigeria you can start depending on your budgeted capital.

Micro or small scale business in Nigeria (capital estimation 50k to 2m)

Fashion design business
Pos business
Phone accessories business
Sim registration business
Retail business
Liquid soap business
Catering business
Photography business
Car repair business
Car wash business
Salon business
Make up business
Laundry business
Interior design business
Cement retail business
Electronics retail business
Phone retail business
Poultry business
Restaurant business

Medium-scale business in Nigeria (capital estimation 4m to 20m)

Pure water business
Bakery business
Garri processing business
Rice processing/ rice farming business
Printing press business
Construction business
Importation and exportation
School business
Supermarket business
Electronics wholesale
Eatery or fast food business
Fintech business
Night clubs business
Hotel business

Large scale business in Nigeria (capital estimation 50m and above)

Cement factory business
Flour factory business
Cloth factory business
Refinery business
Suger factory business
Sweet factory business
Pharmaceutical factory
Soap factory business
Milk factory business
Biscuit factory business
Estate business

if you find this list incomplete, please don’t hesitate to leave a comment suggesting the business venture. Due to the fluctuations in the value of naira against other currencies, these capital estimation can change from time to time, other factors like cost of raw materials and equipment can also result in change.

What are the top 10 most profitable small scale business in Nigeria to Start?

Here’s a list of the top 10 most profitable small scale business in Nigeria, but mind you if you don’t have a business plan before startup then you will lose your investment. You can buy a business plan from us and get a free consultation session, more on that later here’s the list:

Which particular small scale business is profitable in Nigeria?

With proper risk management and location selection, almost all small scale businesses are profitable, this is only achievable when you have a business plan that is tailored in line with your business goals and objectives.

Apart from a business plan you will also need consultation from people who are already operating in such business, you can get a free consultation from us when you purchase one of our business plans.

What business can 20k start in Nigeria?

The only kind of small scale business 20k can start in Nigeria are businesses which are service-oriented and mostly done at home or under an already established shop. Businesses like cake baking, Laundry, car wash e.t.c

The above business can be operated with working capital of 20k but it will be very limited due to how slim the capital is. It’s advisable to seek grants or loans if you’re really motivated to birthing your dream business to life.

Daily income business in Nigeria

A daily income business is a type of business model where profit or returns are actualized daily. These kinds of businesses are very profitable due to the simplicity and short term operation, that is your invested capital is always returned at the end of every business day plus your profits made for that day.

This normally occurs in the market where petty traders always have to roll over the capital every business day. This is also possible for some lucrative business models like:

Popcorn business
Transportation business
Shawarma business
Restaurant business etc.

Legal requirements for starting a Small Scale Business in Nigeria

A business is no business if it’s not registered and indexed by both CAC and any other corporate bodies that give accreditation on the quality and standard of the goods or services offered by that particular business. Some of these other corporate bodies include SON and NAFDAC. E.t.c

To make sure your business is legal you must register your business, so you won’t be categorised as an illegal business even if you’re running a legitimate model of business.

Business registration and acquiring the license is a crucial step for every business start-up, which may require the help of a lawyer or an authorized agent.

Business to start with 500k in Nigeria

Starting a business with 500k means you want to start a small scale business in Nigeria. There are many business opportunities in Nigeria that you can invest 500k, but you have to understand that business is not about making a profit but creating value through offering solutions to gaps in the market while simultaneously making a profit in the process.

I’ve compiled a list of businesses above, that 500k can start, and they are very profitable when you have a business plan for that business. Decide on the kind of business you want to venture into and get a business plan from us or contact us for a free consultation so as to expose you to the secrets of the kind of businesses you can start which is profitable in your location.

Fast-growing business in Nigeria

These are businesses whose industries have grown exponentially within the last five years, and the most interesting fact is that most of these businesses have an easy entry point and are profitable in many locations in Nigeria. Some of these business includes:

Goat farming business
Farming business
Importation and exportation business
Factory business

How to get capital for a small scale business in Nigeria?

Getting capital to start a business in Nigeria is one of the daunting tasks for an upcoming Nigerian entrepreneur, this also discourages most Nigerian entrepreneurs and start-ups who don’t have enough finance to compete with current competitors or to satisfy the high demand of the gap in the market which is their target.

Some of the ways in which you can get capital to fund your Small Scale business in Nigeria include:

Seek investors and present to them your feasibility plan
Get financial aid from your family members
Apply for grants
Apply for a loan from your bank

In conclusion, it is more profitable to have a small scale business in Nigeria you’re operating, than to have a job that does not pay well and your future now guaranteed. The mistake most people make in their entrepreneur journey is just chasing the money, instead of focusing on offering value.

The Nigerian economy is full of business opportunities brought forth by problems encountered every day. The advantage of every entrepreneur is the efficient use of these opportunities to craft a business model which adequately fills up that market gap.

After identifying a gap in the market the next step is to get a feasibility study and a business plan so you can clarify your expectations as regards profit and operationality. It is also advisable to seek consultation from others operating that same model of business or contact us for a free consultation.

Lastly, a small scale business in Nigeria can not survive without a business plan because of various external and internal factors that affect every Nigerian business, so get a well-detailed business plan from us, which contains all you’ll need for that particular model of business you’re starting.

Good luck with your newfound business and Godspeed.

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Micah Erumaka

About Micah Erumaka

Micah Erumaka is the Founder of LiaonCEM solutions which owns NaijaCEO. He is an Internet Entrepreneur and a content creator. After the failure of his first company at age 18 he started NaijaCEO to help entrepreneurs with the information they need in operating a successful business in Africa

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How to Write a Business Plan in Nigeria

Startup Businesses , Career Development , Business Financing

Thinking about how to create a business plan for your small or medium sized business? Learn how to write a business plan in Nigeria from the professional business plan consultants. Most Nigerian entrepreneurs and companies do not have or implementation business plans when starting or growing up their businesses. They perhaps believed that business plan is just a document or paper that will not give them the most need capital to scale up their business ideas or investment.

Of course, a business plan is a written document that describes a business, its products or services, strategies and procedures on how it will galvanize it scarce human and material resources in a day-to-day operations in order to make profits. A business plan would contain everything a reader may want to know about your business , starting from the title page, the executive summary, the company description and to the appendix page.

Our accounting and taxation consultants can fill tax returns for your business, project your capital expenditure budgets and compose other business development and small business administration (SBA) or legal documents that set-up your business in the right way to success. We provide business profiling services such as writing of your Vision and Mission Statements , brand positioning statements, employee handbooks, and provide web designing , corporate branding and packaging services.

4 Reasons Why you need a Professional Business Plan in Nigeria

#1. it helps you prioritize your business goals.

When you setup and go into your own business without proper business planning and research process; they end up investing in a business for the wrong reasons. And before the first two to three years, they would be forced to close down. Why? Because they believed that writing a business plan would not stop the money from coming as they expected, until they ran into management or business ownership crisis.

#2. It Helps You Avoid Initial Startups Mistakes

To help business executives avoid failures in the future, we develop winning business plans that prioritize your company deliverables right from the start-up stage and meet all your business needs. This will help us build a sustainable leadership culture and business structure for you.

#3. It Provides Go-to-Marketing Insights and Strategies

While there a lot of steps involved in starting a business; these can be overwhelming to any small business owner and startup entrepreneurship. Connect with best business plan writing professionals in Nigeria who understand the Nigerian consumer markets and viable business environments. We offer valuable assistance to bring your brand products and services into reality.

#4. It Provides Answers to Your Startup Questions

Many Nigerian entrepreneurs who have brilliant business ideas usually ask us these important questions and here are some of our answers:

Why do I need a business plan to start my business in Nigeria?
Do you write business plans for new business or existing businesses?
How much does it cost to write a good business plan in Nigeria?
Can I use my business plan to get a business loan from the banks?
How can I use my business plan to secure new investors for my business?
Can you create free sample business plans for my type of business?
How long does it take your company to writer winning business plans?
Can I get full script or hard copy of the written business plan from you?

How We Do Expert Business Plan Writing in Nigeria

Asking what is the cost of writing a business plan in Nigeria? Well, most professional business plan experts would charge between ₦100,000 and ₦250,000 Naira for fully researched business plan writing services. We create custom business plan that is specifically developed for your business industry from the scratch.

Asking about free business plan samples, we offer easy to use pre-written business plan templates at affordable prices. If this is what you want, such samples will help you organize your unique business idea and set out an amazing business plan for your sole proprietorship business, enterprise or limited liability company.

Asking if you need a business plan for new and existing businesses? the answer is YES! We build successful business plans for all kind of businesses; be it beauty salon business plan, pharmacy shop business plan, wellness and transportation industries, hospital business plan, travel and hotel business plan, agriculture business plan and fish/poultry farming business plan.

When creating a business plan with us, you will get a top notch business plans for food processing and supply chain businesses, fashion design, café and restaurants business plan, automobile mechanic and car driving school business plan, fintec business plan, waste recycling and water treatment and ICT business plan, print shop business plan, event planning, supermarket and ecommerce retail business plan.

When preparing to write a outstanding business plan that fits your business objectives, we conduct industry research, carry out competitor analysis and include our carefully crafted parameters in your business plan format . We consider how to write the Executive Summary that will capture the attention of your target audience. Base on our target market analysis and your input, we write Company Description, the Business Organization, Management Structure, and Product Line or Company Services.

Our marketers know how to package your startup business ideas on your business plan documentation in order to help you get that nodes and supports you need from potential investors or financial institutions. We design professional websites, marketing plan and employ qualified accountants who can use the available figures and market findings to calculate your business funding requests and future cash-flow financial projections ( whether in the next three or five years).

As Lagos based corporate branding and business plan writing company in Nigeria , we help business individuals and companies to plan and develop their businesses from business proposal to business plan writing, project feasibility studies and target market research. We offer business SWOT analysis, booking accounting services , and investment management software development.

Related: How to Start a Business in Nigeria

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I need a professional business plan for my new pharmacy company. What is the cost of writing a good business plan form me?

Please contact us today to request a quote.

Please am starting up a seafood business in Nigeria, I need help with a sell out business plan. How do I achieve that

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How to Start Dairy Farming in Nigeria: Business Plan, Breeds, Cost, Profit, and Schemes

Table of contents, factors affecting dairy farming in nigeria, dairy farming importance in nigeria, how to start dairy farming in nigeria, small-scale dairy farming in nigeria, essential steps to starting a dairy farming business in nigeria, specialized dairy breeds in nigeria, dairy cattle production systems in nigeria, types of dairy production systems in nigeria, opportunities for dairy production in nigeria, dairy farming areas in nigeria, is dairy farming profitable in nigeria, rules for starting your dairy farm – design in nigeria, cost to set up a dairy farm in nigeria, impact of dairy farm business on the nigeria economy, dairy farming loans and subsidies in nigeria, dairy farming challenges in nigeria.

Nigeria has the 5th largest cattle herd in Africa, following Ethiopia, Sudan, Chad & Tanzania. Dairy farming is an important agricultural sector in Nigeria. It is a main source of livelihood for smallholder farmers and contributes significantly to the country’s economy.

How to start dairy farming in Nigeria

Many factors affect dairy farming in Nigeria. The main factor is the climate. The hot, humid climate is not conducive to dairy farming. Another important factor is the lack of infrastructure. There are no refrigerated trucks or storage facilities for milk. This means that milk must be consumed immediately after it is produced, limiting the amount produced.
Nigerian farmers cannot access the same high-quality feed and equipment as farmers in developed countries. This makes it difficult to produce high-quality milk. Finally, the Nigerian government does not provide any subsidies or support for dairy farmers, making it difficult for them to compete with imported milk products.
Dairy farming is vital in providing milk and other dairy products to the growing population. In addition, dairy farming provides employment opportunities for the rural population.
Dairy farming is an important source of nutrition for the growing population in Nigeria. Dairy products are rich in proteins, vitamins, and minerals essential for human health.
In addition to its nutritional value, dairy farming also contributes significantly to the economy of Nigeria. The dairy industry generates income from the sale of milk and other dairy products. It also provides employment opportunities for the rural population. The government earns revenue from taxes levied on the dairy industry.

In case you missed it: How to Start Dairy Farming in Brazil: Business Plan, Breeds, Profits, and Loans

Firstly, you’ll need to find a good location for your farm. The climate in Nigeria is tropical, so you’ll need to find a cool spot with plenty of water.
Next, you’ll need to get some dairy cows. You can buy them from a local farmer or import them from another country. Once you have your cows, you’ll need to build pens and shelters for them. Then, you’ll need to purchase feed and hay for your cows.
Finally, you’ll need to hire workers to help you with the day-to-day tasks on the farm.
The Nigerian dairy industry is in a period of transition, with small-scale farming operations becoming increasingly commercialized. To meet the growing milk demand and dairy products, small-scale farmers must adopt more efficient production practices.
One way to improve efficiency is by providing small-scale farmers with quality cattle feed. Good quality cattle feed can help improve milk production and herd health while reducing costs. Small-scale farmers often find it difficult to source quality cattle feed, so assistance from government or development organizations can be helpful.
Another way to improve efficiency on small-scale dairy farms is through better management practices. This includes keeping accurate records, investing in training for farm workers, and using improved breeding techniques. By adopting these practices, small-scale dairy farmers can improve their productivity and profitability.
The Nigerian government has been working to support the development of the country’s dairy sector. This includes initiatives like providing extension services to small-scale farmers and establishing a national Milk Quality Control Laboratory. With continued support from the government, small-scale dairy farming in Nigeria has great potential to grow and thrive.

The Nigerian dairy industry is growing rapidly, with the government investing heavily in the sector recently. However, starting a dairy farm in Nigeria can be daunting, especially for those without experience in the industry.

1. Choose your location carefully : Dairy farming requires a lot of lands, so it’s important to choose a location with ample space for your operation. The climate is also important, as dairy cows need access to pasture and fresh water. The farm should be situated in an area with plenty of grazing land and water resources.

2. Get the right equipment : You’ll need milking machines, refrigeration units, and other specialized equipment for your dairy farm. Make sure to purchase high-quality products that will last.

3. Purchase quality cattle : Once you have found a suitable place, the next step is to purchase some quality cattle. You can buy cows from a local market or import them from another country.

4. Build shelter and fencing : The third step is to build shelter and fencing for your cattle. The shelter will protect them from the sun and rain, while the fencing will keep them safe from predators.

5. Create a feeding plan : Another important step is to create a feeding plan for your cows. They should be given a balanced diet that includes hay, grass, grains, and minerals.

6. Train your staff : Hiring experienced staff is crucial for a successful dairy operation. Make sure to provide training on milking techniques, animal husbandry, and safety procedures.

7. Market the milk : After processing the milk, the final step is to market it to retailers or consumers. This can be done through direct sales or by setting up distribution channels. Nigeria has a growing demand for fresh milk and dairy products. Create a marketing plan to reach potential customers and sell your products at a fair price.

In case you missed it: Dairy Farming Loan in India: Benefits, Banks, Interest Rate, Documents, and NABARD

There are many dairy breeds available in Nigeria, each with unique benefits. These include Friesian, Brown Swiss, Jersey, Holstein, Ayrshire, and Guernsey (All temperate origin). Friesian, Brown Swiss, and Jersey were imported to Nigeria for crossbreeding with indigenous cattle to raise the level of production.

Dairy cattle production in Nigeria is a complex and diverse system shaped by the country’s climate, geography, and cultural traditions. Small-scale farmers make up most of the dairy industry in Nigeria, and a wide range of production systems are used within this sector. The most common system is extensive grazing, where cows can roam freely on pastures, and crop residues are used as supplementary feed.

This system is well-suited to the large tracts of land available in Nigeria, but it can be labor-intensive and result in low milk yields. Other common production systems include zero-grazing (where cows are confined to pens and fed primarily on hay or silage) and mixed farming (where dairy cattle are kept alongside other livestock such as goats or sheep). Each of these systems has its advantages and disadvantages, and the choice of the production system will depend on the specific circumstances of each farm.

With the right management practices, Nigerian dairy farmers can produce high-quality milk that meets the needs of local communities. However, the industry faces many challenges, such as low productivity levels, limited market access, and poor infrastructure. There is a need for more research into productive and sustainable dairy production systems that can be adapted to the unique conditions found in Nigeria.

The smallholder system is Nigeria’s most common type of dairy production system. In this system, smallholders own and operate dairy farms with less than 10 cows. The smallholders sell milk to local dairies or middlemen, who then sell the milk to larger dairies or processors.
The pastoral system is common in northern Nigeria, where Fulani herders graze their cattle on open-range land. The Fulani sell milk to local dairies or middlemen, who then sell the milk to larger dairies or processors.
The agro-pastoral system is a hybrid of the smallholder and pastoral systems and is common in central Nigeria. In this system, smallholders own and operate dairy farms with less than 10 cows. The smallholders also cultivate crops such as maize, sorghum, and rice. The agro-pastoralists sell milk to local dairies or middlemen, who then sell the milk to larger dairies or processors.

In case you missed it: How to Start Dairy Farming From Scratch: A Complete Guide for Beginners

The Nigerian dairy industry presents a unique opportunity for farmers to produce high-quality milk for a growing population. Nigeria has the potential to become a leading producer of dairy products in Africa.
The Nigerian government is investing in the dairy industry to improve production and infrastructure. The government is working with international organizations to provide technical assistance and training to Nigerian farmers. Several initiatives are underway to support the growth of the dairy sector, including providing subsidies for feed and livestock and constructing processing facilities.
Due to population growth and urbanization, there is a growing demand for dairy products in Nigeria. The middle class is expanding, and there is an increasing demand for protein-rich foods such as milk and cheese. With proper investment and technical assistance, Nigeria has the potential to become a main player in the global dairy market.

Dairy farming is an important part of the agricultural sector in Nigeria. Dairy farming areas in Nigeria are located in the country’s northern, central and southern parts.

The northern part of Nigeria has a dry climate and is home to the Fulani people. The Fulani are traditionally nomadic pastoralists whose main income source is from livestock. Dairy farming is an important part of Fulani culture and their diet.
The central part of Nigeria has a more humid climate and is home to the Hausa people. The Hausa are sedentary farmers whose diet consists mainly of grains and vegetables. Dairy farming is not as common in this region, but some Hausa dairy farmers produce milk for sale in local markets.
The southern part of Nigeria is home to the Yoruba people and has a tropical climate. The Yoruba are also sedentary farmers but have a more diversified diet that includes crops and livestock. Dairy farming plays a significant role in the Yoruba agricultural economy, and many Yoruba households keep dairy cows for milk production.

Yes, dairy farming can be profitable in Nigeria if done correctly. When starting a dairy farm, there are several factors to consider, like the type of cattle you will raise, the quality of your pasture, and the availability of water and shelter. Dairy farms require a large initial investment but can provide a steady income if appropriately managed.

In Nigeria, dairy farming is an important agricultural sector. To start your dairy farm, there are some key considerations and rules.

Firstly, it is essential to have a clear business plan. This should include a feasibility study of the local market for dairy products, an evaluation of potential sites for the farm, and a financial analysis.
Next, you will want to obtain licenses and permits from the Nigerian government. Once these are in place, you can begin to design and build your farm infrastructure.
Choosing the right breed of the cow for your climate and pasture conditions is important. Holstein Friesian cows are well-suited for dairy production in Nigeria.
Once your cows are in place, you must implement proper management practices to ensure high milk production. This includes providing your cows with adequate nutrition, housing, and health care.

In case you missed it: Dairy Farming in Germany: Breeds, and How to Start

The cost of starting a dairy farm business in Nigeria is quite high. However, with the right planning and execution, a dairy farm can be a very lucrative business. There are several factors to consider when starting a dairy farm, like the cost of land, buildings, equipment, and animals. The milk and other dairy products market are the most important factors in starting a dairy farm.

Assuming you are referring to a small-scale dairy farm, the setup cost in Nigeria would be relatively low. For example, you would need to purchase a few cows, some fencing, and some basic equipment. The total cost would be around 300,000 Naira.

The dairy farm business has had a positive impact on the Nigerian economy. The sector has created jobs and provided income for many Nigerians. It has also helped to improve the country’s balance of payments. The dairy farm business has contributed to the growth of the Nigerian economy.

The Nigerian government offers several loans and subsidies to encourage dairy farming in the country. The interest rate on these loans is subsidized, making them more affordable for farmers. In addition, the government also provides subsidies for the purchase of dairy cattle and other necessary equipment. These programs have helped to increase the number of dairy farms in Nigeria and have contributed to the growth of the dairy industry in the country.
One of the main problems faced by dairy farmers in Nigeria is a lack of access to quality milk products. This is because most of the country’s milk production occurs in small-scale operations, which often lack the resources and infrastructure needed to produce high-quality milk products.
Another problem faced by dairy farmers in Nigeria is a lack of access to markets. This is because the country’s dairy industry is still relatively undeveloped, and few large-scale processors or distributors can purchase milk from small-scale producers. As a result, many farmers are forced to sell their milk at low prices to local traders, who then resell it at higher prices to consumers.
Finally, another major problem faced by dairy farmers in Nigeria is insecurity. Due to the country’s political instability, many farmers are hesitant to invest in their operations, fearing that their investments may be lost if violence breaks out. This has led to a decline in investment in the Nigerian dairy industry, further hindering its development.

Dairy farming in Nigeria is a challenging endeavor due to several factors. The main challenge is the lack of access to quality dairy cows. In Nigeria, only a handful of dairy farmers often cannot afford to purchase high-quality cows from outside the country. As a result, the local dairy cows are often of poor quality and produce low yields. Nigeria’s hot and humid climate can be tough on livestock. The country also has a limited amount of arable land, so finding enough pasture for cows can be difficult.

Water resources are another challenge; many parts of Nigeria lack reliable access to clean water, which is essential for dairy farming. Finally, the country’s infrastructure is not well developed, making it hard to transport milk to markets. Another challenge facing dairy farmers in Nigeria is the lack of access to affordable feed. Good quality feed is essential for dairy cows to produce high yields, but it is often very expensive in Nigeria. This makes it difficult for small-scale farmers to break even and profit.

In case you missed it: 19 Key Rules for Effective Dairy Farm Management: From Planning to Reduce Production Cost

Finally, another big challenge for dairy farmers in Nigeria is the limited availability of veterinary services. Finding a qualified veterinarian to provide treatment can be difficult when cows get sick. This can lead to health problems for dairy animals and lower yields. Despite these challenges, dairy farming in Nigeria can be successful. With careful planning and a commitment to quality, farmers can overcome the difficulties and produce milk that Nigerian consumers.

Dairy farming in Nigeria is the process of raising cows for milk production. The climate and terrain of Nigeria are well-suited for dairy farming, and the country has a long tradition of cattle husbandry. Dairy farming is an essential source of income for many small-scale farmers in Nigeria and plays a vital role in the country’s economy.

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Hello! Do you know of farms that sell calves of imported dairy cows or the ones that have been breed with local varieties and about how much they can go for?

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Top 12 Small-scale Business Ideas in Nigeria (2023)

Calling all Nigerian entrepreneurs! If you’re eager to start a scalable business in Nigeria this year (2023), you’re in great company! Many Nigerians share your ambition to be their own boss and launch successful ventures. With the right idea and a solid business plan, you can turn your entrepreneurial dreams into a reality. In a country where economic deficit and unemployment prevail, starting a business in Nigeria is like tapping into a goldmine of opportunity for a better livelihood. Let’s make it happen together!

What is a small-scale business in Nigeria?

Small-scale businesses offer an excellent opportunity for individuals with skills to generate income, desire to be independent, and are ready to take the entrepreneurial leap. Starting such a business often requires minimal capital, and it allows for personal flexibility and autonomy. With the right idea and drive, one can embark on this journey alone. If you’re contemplating starting your own business, don’t wait any longer!

In this article, we would explore the top 12 small business ideas that entrepreneurs in Nigeria can start in 2023.

1. Point of Sale (POS)

For obvious reasons, POS (point of sales) tops the list of business ideas in Nigeria that you can launch with 100,000 naira. The company is one of those that has been around for a very long time. Human life involves financial transactions, and the banking industry routinely falls short of what the public expects in that regard.

POS acts as a subdued substitute for banking transactions and prevents people from wasting valuable time waiting in line for routine financial transactions in the bank hall. Financial transactions like money transfers and withdrawals, bill payments (DSTV, GOTV, PHCN), airtime recharges, and data sales, among others, can be handled by POS.

After graduating and completing his required NYSC, Mr. Tayo Adewale, a 26-year-old HND holder from one of Nigeria’s federal polytechnics, was unable to find a position in a white-collar field. With the help of N100,000 donated by his family, which he used to launch the business, he ultimately made the decision to start a POS business. Since he began the business, Mr. Tayo claims he has earned no less than N100,000 in return for his investment, while some of his coworkers are still out on the streets looking for nonexistent white-collar jobs.

One of the most crucial factors to take into account when starting a POS is the location of the company. Your POS business idea could succeed or fail depending on the characteristics of the location where it is located. Some factors to think about when choosing the type of location are:

GSM network/ Internet This is an important factor that must be considered before opting for any location. You must ensure your POS business is situated in an area with a very good GSM network, to ensure hitch-free business transactions.
Proximity to banks Another important thing you should consider before choosing a place to locate your POS business is how close the area is to the banking area. Locating your POS in an area very close to the banking area can be likened to efforts in futility and may not bring about the return on investment as expected. This is because the majority of the people may rather prefer to visit the banking for their transactions since it is close by.
Security While searching for a place for your POS business, you should ensure the place is secured and has little or next to any history of crime. This is because you will be dealing with cash daily which makes you vulnerable and a soft target for criminals if the location is not secured.

2. Fashion Businesses

There are several options for starting a small-scale fashion business, including ready-to-wear, bespoke tailoring, fashion accessories, and personal styling. You can begin with a tailoring business, using your skills and a sewing machine in your own space, like your bedroom.

Another option is to import fast fashion items from companies like Shein. LuxebyBella is an example of a brand that started by importing fashion items before launching their bespoke tailoring and ready-to-wear lines.

To start your fashion business from scratch, you’ll need some essentials: business capital, which can be saved by outsourcing tailoring and equipment costs, or using free sewing tutorials on YouTube if you make the clothes yourself.

Having a dedicated business bank account is crucial to keep personal and business finances separate from the start.

By taking the first step today, you can work towards building your dream fashion business. As seen with LuxebyBella’s success, you can grow from a small start-up to a thriving ready-to-wear brand by staying creative and delivering unique designs.

3. Personal Catering and delivery business

Food is a fundamental necessity for human existence, and it’s something we can never avoid. That’s why online food vending and delivery businesses rank at number 3 on the list of business ideas you can start with 100,000 naira.

In today’s busy world, many individuals struggle to find time to cook at home due to their work schedules and busy lives. As a result, they rely on food vendors to provide them with meals. This includes working-class professionals, students, artisans, and others in similar situations.

Since there are many alternatives, including eateries, restaurants, and other mobile food vendors competing for your customers, having knowledge of or experience with cooking will give you a distinct advantage over your rivals. You will stand out from the crowd if you can make nice, tasty, and inexpensive meals.

In a conversation with a well-known mobile food vendor in Lagos’ Ojodu-Berger neighborhood, Mr. Kelechi Emmanuel said that ever since he started the company a few years ago, his life had improved significantly. He thanked a friend who had first discussed the business idea with him. However, he bemoaned the current cost of food and cooking supplies and pleaded with the government to please find a long-term solution to the price increase.

What you need to start Fast and reliable means of transportation are important aspects that must be in place for the smooth running of the mobile food business.

The good news about the business is that you don’t necessarily need a shop or office to cook your meals, you can start by cooking from the comfort of your home and expanding the business as time goes by.

4. Event planning

Event planning is a great business opportunity in Nigeria. There is a high demand for event planning services, as people are increasingly looking for professional help to plan their events. This makes event planning a lucrative business, as there is a large potential customer base.

To start an event planning business in Nigeria, you need to have a passion for organizing and coordinating events. You should also have a good understanding of the event planning process, as well as the different aspects of event planning, such as budgeting, venue selection, catering, and entertainment.

You can start your event planning business by planning small events for your friends and family. This will give you the opportunity to gain experience and build your portfolio. As your business grows, you can start planning larger events for businesses and individuals.

There are a few things you need to keep in mind when starting an event planning business in Nigeria. First, you need to be organized and efficient. You will need to be able to manage multiple projects at the same time, and you need to be able to meet deadlines. Second, you need to be able to build relationships with vendors and suppliers. This will help you get the best prices on event supplies and services. Third, you need to be able to market your business effectively. This will help you attract new customers and grow your business.

Starting an event planning business can be a great way to start your own business and be your own boss. With a little hard work and dedication, you can be successful in this industry.

Here are some additional tips for starting an event planning business in Nigeria:

Focus on providing high-quality service. This will help you to attract and retain customers.
Be flexible and adaptable. The needs of your customers may change over time, so be prepared to adjust your services accordingly.
Build relationships with your clients. This will help you to get repeat business and referrals.
Stay up-to-date on the latest trends in event planning. This will help you to provide your clients with the best possible service.

5. Hair Styling

Based on my experience, the average Nigerian woman spends a minimum of three thousand five hundred naira per month on her hair.

With ten customers each month, your hairstyling business can earn approximately thirty-five thousand naira.

To kickstart your hairstyling business, consider offering home services initially. Here’s what you’ll need to get started:

Choose an area of expertise: Focus on braiding, wig installations, natural hair styling, short haircuts, or any specific niche you excel in.
Share your styling tips online, similar to what Michelle does.
Purchase equipment such as hair extensions, cutting combs, styling gels, and a mobile bag to carry your supplies.
Set up a payment method, like a Point of Sales terminal (POS terminal) for physical and bulk deliveries. Alternatively, you can create professional invoices and send them via email with payment links.

Starting this business requires less than ten thousand naira, especially if you offer home services exclusively. You only need to invest in hair products, combs, a dryer, and a mobile bag to carry your items.

6. Cleaning services

Cleaning services are one of the most in-demand services in Nigeria. There is a high demand for cleaning services in both homes and businesses, as people are increasingly busy and do not have the time to clean their own homes or offices. This makes cleaning services a great business opportunity, as there is a large potential customer base.

Starting a cleaning business does not require a lot of capital. You can start with a small investment in cleaning supplies and equipment, and as your business grows, you can gradually add more staff and equipment. This makes cleaning services a relatively low-risk business to start.

You can start a cleaning business alone, and then hire more people as your business grows. This gives you the flexibility to start small and grow your business as you see fit.

Here are a few cleaning tools you might need to kickstart

Microfibre cloths
Cleaning detergent
Mop, dustpan, and broom
Spray bottle
Scrub brush

7. Laundry Business

The laundry business is a highly profitable yet often overlooked venture in Nigeria. With people’s busy work schedules, finding time for washing clothes becomes challenging, creating an opportunity for laundry service providers.

Take Richard Ojigbede, a student at Ambrose Alli University, Ekpoma, as an example. He started washing clothes manually in the past, but now, thanks to the business’s success, he owns two washing machines and a generator. He caters to the laundry needs of fellow students who are overwhelmed by academic stress, which has greatly benefited his business, earning him a minimum of 10,000 naira daily.

Starting this business is convenient as you can operate from home without needing a dedicated shop or space. The essential tools required are a washing machine, iron, and a generator as a backup for power outages.

To excel in the laundry business, honesty is crucial. Being a reliable promise keeper and ensuring timely delivery of your customers’ clothes is essential.

Building strong connections with your customers will increase the likelihood of getting referrals from satisfied clients, boosting your business prospects further.

8. Content Creation and Monetization

Content Creation Doesn’t Need to Be Expensive

Content creation is a small business that is often overlooked due to the perceived high cost of equipment. However, Alma Asinobi’s success story proves that you don’t need expensive gadgets to get started.

When Alma started creating content, she used a simple Android phone, an Instagram account, and a small community of less than 1,000 supporters. In less than three years, Alma’s dedication has paid off, and she now boasts nearly 100,000 followers across various platforms. She collaborates with brands, creating organic content, influencing their products, and attending events.

So, what do you need to start your own content creation journey?

High-quality content: Focus on providing valuable content that educates or entertains your audience. This will help your online following grow.
A phone and tripod: Fancy gadgets aren’t a prerequisite. Start with your current phone and invest in a tripod to get started.
Learn how to monetize: While honing your content creation skills, don’t forget the business aspect. Explore ways to make money by pitching and partnering with brands that align with your values.

To discover the secrets of successful content creators in making money, check out our guide on monetizing your content.

Remember, building an engaged community is crucial before earning money from brand-influencing deals. Genuine care for your audience and consistent sharing online are the keys to achieving this.

Start your content creation journey today and watch your influence grow!

Here are some additional tips for starting a content creation business without expensive gadgets:

Use free or low-cost editing software, such as Adobe Premiere Rush or iMovie.
Find creative ways to use natural lighting.
Collaborate with other content creators to share resources and reach a wider audience.
Don’t be afraid to experiment and find your own unique voice.

9. Copywriting

Copywriting is a highly profitable online business in Nigeria that requires a low startup cost of 100,000 naira and below. If you possess strong writing skills and language proficiency, this business can be your path to financial freedom.

Copywriting involves various forms, such as writing advert copy, blog posts, video scripts, presentations, direct mails, jingles, and creative content. The primary objective of a copywriter is to craft persuasive content that promotes products, services, ideas, or causes effectively. A well-written copy has the power to work wonders for any offering.

This business can be pursued full-time or as a lucrative side hustle with a promising return on investment for those well-versed in the field. Students with good writing skills can also seize this opportunity to support their academic financial needs.

Copywriters in Nigeria earn salaries ranging from 100,000 to 300,000 naira, depending on the type of copy and the organization they work with. Some copywriters charge clients per word, typically earning 11-20,000 naira per 1,000 words.

As a beginner in copywriting, attracting clients can be achieved through freelance job boards, cold pitching, speaking at conferences/workshops, and promoting your business on professional platforms like LinkedIn.

Seyi Olawale, a final year student at the University of Ilorin, shared his success story, stating that he has been financially independent through copywriting since losing his father during his second year at the university. With the income generated from his copywriting business, he no longer relies on monetary assistance from his family and can meet his financial needs comfortably.

What you need to start Apart from having an inherent writing skill, copywriting just like every other skill can also be learnt. You can build from scratch or improve your copywriting skills by reading books on copywriting, watching copywriting videos on YouTube, following copywriting blogs and taking copywriting courses on online learning platforms such as Udemy and Coursera. Getting a copywriter as a mentor can also be of immense benefit while you are trying to improve or learn copywriting.

Another good news about this business is that, it is a remote one, and you practically don’t need to situate the business in a particular geography. All that is needed to start up the business is your smartphone or preferably a laptop system, a good internet connection, and, an adequate power supply.

10. Private Tutoring

Private academic tutoring is a thriving market in Nigeria as parents constantly seek to improve their children’s education. However, tutoring extends beyond academics and includes coaching in music, dance, and sports.

To begin a private tutoring small business, credibility and trust are vital, as teaching carries significant responsibility. Demonstrating good character will lead to further client recommendations.

The barrier to entry is low, with platforms like Prep Class allowing you to set up your coaching business online for free, showcasing past results and receiving job recommendations.

Surprisingly, you can start this small-scale business with zero capital in your bank account. Simply secure your first client and provide value to grow your customer base.

Despite being overlooked by some, private tutoring is a profitable venture for those who enjoy teaching, and it offers opportunities for stress-free customer growth through client referrals.

11. Perfume store

Start a Perfume Business from Home with Less than N5,000

Perfume is a popular product in Nigeria, and there is a growing demand for affordable perfumes. If you are looking for a small-scale business that you can start from home with a low budget, then selling perfumes is a great option.

D’fragrance Home is a successful perfume business that was started with only N4,200 in 2020. The founder, Mercy, spent two months researching the business before she launched it. She also focused on consistency and building a strong customer base.

If you are thinking of starting a perfume business, here are some tips:

Do your research. Before you launch your business, it is important to research the market and understand the demand for perfumes. You should also research different wholesale suppliers so that you can find the best deals.
Stay consistent. It takes time to build a successful business, so it is important to stay consistent with your marketing and sales efforts. You should also focus on providing excellent customer service.
Know your target customers. Who are you selling to? What are their needs and wants? Once you understand your target customers, you can tailor your products and marketing messages to appeal to them.
Act like a professional. Even if you are starting a small-scale business, it is important to act like a professional. This means using professional branding materials, sending professional invoices, and providing excellent customer service.

With hard work and dedication, you can start a successful perfume business from home with less than N5,000.

Here are some additional tips for starting a perfume business:

Use social media to market your business. Facebook, Instagram, and Twitter are all great platforms for reaching potential customers.
Offer free samples. This is a great way to get people to try your products and see if they like them.
Host in-home perfume parties. This is a fun way to introduce your products to potential customers and sell them directly.

With a little effort, you can start a profitable perfume business from home. So what are you waiting for? Get started today!

12. Selling of clothes

The Importance of Clothes and How to Start a Lucrative Clothes Business in Nigeria

Clothes are one of the three basic needs of man, the others being food and shelter. As such, the clothes business is a lucrative one that can be started with a relatively low capital.

One young male clothes vendor in Ilorin, Nigeria, explained that the best way to grow a clothes business is to have a good relationship with your customers. He also said that you should be willing to advertise your business through one-on-one interaction and on social media.

Some of the types of clothes you can sell include children’s wear, native wear, English wear, jeans, and underwear. You can purchase these clothes for resale at popular markets like Balogun Market, Aswani Market, Katangua Market, Tejuosho Market, Onitsha Market, and Aba Market.

While starting out, you may not need to have a shop. You can simply purchase clothes and deliver them to your customers’ doorsteps. However, one of the most important qualities you need to have to be successful in this business is the ability to convince your customers to buy your products. If you can’t do that, they’ll likely spend their money on other things.

It’s also important to have good networking skills and to maintain a good rapport with your customers. This will help you to build relationships and get referrals from your customers to other potential customers.

Here are some tips for starting a successful clothes business in Nigeria:

Do your research and identify a niche market.
Find reliable suppliers.
Set competitive prices.
Market your business effectively.
Provide excellent customer service.

With hard work and dedication, you can be successful in the clothes business in Nigeria.

Additional Tips

Keep your inventory up-to-date with the latest fashion trends.
Offer a variety of payment options to make it easy for customers to buy from you.
Provide free shipping or discounts for bulk orders.
Host events and promotions to attract new customers.
Get involved in the community and support local charities.

By following these tips, you can increase your chances of success in the clothes business in Nigeria.

Conclusion:

The Future of Small Business in Nigeria

The country has a young and growing population, a rising middle class, and a growing economy. These factors all create a favorable environment for small businesses to thrive.

If you are thinking of starting a small business in Nigeria, there are a few things you can do to increase your chances of success. First, make sure you have a sound business plan. Second, do your research and identify a market that you can serve. Third, build a strong team of employees or partners. Fourth, market your business effectively. Finally, be persistent and never give up.

With hard work and dedication, you can achieve your dreams of owning a successful small business in Nigeria.

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Business Plan

How to Write a Business Plan in Nigeria

by BusinessPlan 5 Comments

How to Write a Business Plan in Nigeria – In a time and century when the government can do little or not much to help everyone in any country or engage in a massive social program for citizens, starting a business or being an entrepreneur seems to be the new path for most people. Small and medium scale enterprises are springing up daily, some don’t last for long and while others keep growing as much as they can.

Also Read: Business Plan Writers in Nigeria

Whether it is a small scale business or a multinational, it has been proven that in starting a business, one must carry out a lot of planning, capacity building and explore ways on how to maximize the opportunity of a business idea. The “working together” of these administrative tasks result in the formation of a business plan.

A business plan therefore, is a roadmap, document, strategy paper that is created for business success. It most times details the first 3-5 years of the company and how they intend to achieve success. Though it is a popular document that most people desire to have, a business plan is not necessarily needed to start a business, neither is it a guarantee for success of your business; however, it is advisable to have something that details or brings to light and the understanding of others on what you intend to do.

VIEW THE COMPLETE LIST OF BUSINESS PLANS

Among other things, a business plan requires you to research the business area and the requirements of doing such business. Generally speaking, a business plan should contain the following broad areas;

Executive Summary
Company Description
Market Analysis

Organization and Management

Service or Product Line
Marketing and Sales

Funding Request

Financial Projections

Who Needs Business Plan?

A business plan is particularly required for ventures that are to be created or created for profits i.e. businesses. So, the following categories of people will need a business plan at some point.

Start-ups; entrepreneurs with ideas who wish to start a business.
Young companies; businesses that are already in existence and are looking to change things in their organizations.
Contractors and contract seekers.
Students and Idea generators seeking grants and funds to start their businesses.

Purposes of Writing a Business Plan

Different individuals and organizations have various reasons for writing a business and one major reason for the different is the use to which they want to put the business plan.

Idea development and Start-up Planning: Ideas are the seeds of businesses and how organizations were developed. An idea will be of no use if it is not developed and the implementation is carried out as well. A basic way developing an idea is by creating a business plan. This means transferring the flashes of thoughts into paper. There is a saying that the faintest of writings last longer than the sharpest of memories. The ideas one has in their heads are vague in nature and it is in putting them to paper that you start to develop them and also get more ideas.
For Research Purposes: For people going into a new area of business, they will need to research the area of business and definitely come up with a document which one can call a business plan. The composition of a business plan shows that a level of research is required especially when it comes to market, sales and financial projections. The product aspect requires that one must have idea of what he/she wants to produce before thinking of venturing into business.
Business Evaluation, Expansion and Reorganization: In the lifetime of a particular business, they need to evaluate their existence, products, strategies and business models. This cannot be done by simply having board meetings with people sharing ideas. It will require preparing a document or a fresh business plan that will detail the new business model they need to invest in. If an organization needs to re-strategize or expand their scope of business, then there is need to have a working document to follow through with it.
For Grants and Fund Raising: The key challenge of start-ups and most businesses has always been on raising funds for their organizations. On the other hand, investors and venture capitalists don’t just give out monies without knowing that there will be a return or yield after some years. So, individuals and corporate organizations (including investment banks) who desires to help small and media scale enterprises, ask for business plans or a proposal that will qualify one for their funding. In this situation, the business plan must go a long way to convince the investors that the business is viable, feasible, can make profit, scalable, can be sustained and will also add sustained value. Your strong convincing points (to get funding) will be detailed out in your business plan.

Writing a Business Plan

Before delving into what it takes to write a business plan, let make some things clear;

A business plan is better written by professionals who specialize in it and this can be found amongst freelancers and business writers or consulting firms.
A vague idea of a business is not enough to produce a workable business plan. One needs to be aware of geographical implications of starting a business. That a business works in the Caribbean does not mean it will work in Nigeria; the two countries differ on so many fronts.
A detailed research is required on the business. You must understand the sector you desire to go into.

Compositions of a business plan

They have been listed earlier, so in this section I will discuss in detail what they involve and why they are important for your document.

Executive Summary : This can be described as the brief of your entire document and what one should expect to see in your business and the full document. It is considered the most important especially for those seeking funding. It will give the investor a brief idea of whether your business idea can work or not.

It is advised to write it last after the whole document is written but it is the first part to include in the document. The following should be including in your Executive Summary:

The Mission Statement: Explains what your business is about and should include many sentences but be limited to a paragraph.

Company Information: Covers a short detail of company, founding date, and name of founders, their roles, employees and business location.

Highlight of growth: gives examples of your growth as a company; market and financial highlights should be included too.

Products/Services: a brief of your products and services you offer.

Financial Information: for businesses seeking funding, you will include your current bank and investors.

Future Plans: give an explanation of where you want to take your company in the future.

For start-ups and new businesses, you will not have the information that an established company has, so it is better to detail some background information about yourself, your ideas, products and services. You will have to prove that you have carried a thorough research of the market and sector, with strong points that you can succeed in it.

The Executive Summary will determine whether one will want to continue reading your business plan, so every word must count. As much as possible, it is advisable to include the above information all in one page.

Company Description: This explains and gives a review of the different components of your business. It gives them an idea of your business goal and proposition.

What to include;

The nature of your business and the market needs you are trying to meet.
You will also explain how your products intend to meet this need.
A list of the consumers, businesses and organizations that your company serves or intends to.
Identify your competitive advantage as a business such as location, personnel, operations and bringing value to customers.

Market Analysis: This is where the research you carried out will be important. This section needs to prove that you have a market and industry knowledge of the business with other findings and conclusions.

What to Include

Description of Industry and Outlook: you will need to describe the industry you are going into and this will include; size, historic growth, trends and characteristics (lifecycle stage, projected growth, etc). You will also identify the major customer groups in the industry.
Information about target market: There is need to narrow your market size. Many businesses make the mistake of trying to appeal to too many targets markets. You will need to discover the following; what are the critical needs of your customers? Are those needs being met? What are their demographics and where they are located? Are there seasonal and periodic purchases that will affect your business?
Size of the Primary Target Market: In this you will need to include then size of your potential market and their annual purchases that they offer to the industry. You will also find out the forecasted growth of the market.
Your potential market share: What percentage of the market do you think you can obtain from a particular location and area? You will need to explain the reason behind your calculations.
Competitive Analysis: This analysis should identify your competition based on product, service and market segment and this will include; market share, strengths and weaknesses, how important is your market to your competitors, are there barriers that can hinder you, what is your window of opportunity to enter, are there indirect or secondary competitors that might impact your success, what barriers are there for the market (e.g. evolving technology, high investment costs, lack of skilled personnel)?
Regulatory Restrictions: You will need to include any customer or governmental requirements that affect your business and how you will comply. You need to identify the cost implications it will have on your operations.

This describes the organizational structure of your company, details of company ownership, and profiles of your management team and the qualifications of board of directors (if any).

This also goes further to describe the responsibilities of each person and the details of each department and those responsible for it. This might seem unnecessary for one or two person organizations but they are important to know they kind of people running the business and their capability.

There is also need to detail who your board directors are, how you chose them and how you intend to keep them there. Details of their salaries are equally needed, how promotions will work, etc. You need to be convincing enough that you just don’t have names on letterheads but real staff manning activities in the company.

Product and Service

The next item to include in your business plan after the organizational structure would be to describe your product and the services you will be offering. The most important aspect of this is to convince your readers or investors on the need your product/service will be meeting to customers.

A description of your product; physical description and otherwise, benefits to your customers, the advantage your product has over the competition and the stage of your product’s development (whether idea or prototype).
You will also need to detail your product’s life cycle and the factors that affect it.
Any issues of intellectual property rights and copyrights or trade secret should be described concerning your products. Legal agreements and backing should also be revealed in your business plan.
Research and Development activities that are being carried about your product needs to be revealed too. This should also involve results of it about your product in the future and how it affects the industry.

Marketing and Sales Management

This will go a long way to determine if you will still be in business for the next one year and beyond. Customers are the lifeblood of any business and it is through marketing and sales efforts will you be able to reach them. Marketing does not have a particular rule of thumb or strategy of adoption but it is peculiar to each business based on the evaluations and business model development. So your strategy can be unique to your business, however, there are overall marketing strategies and they include the following;

A marketing penetration strategy; how do you intend to disrupt or enter and existing market?
A growth strategy; this can include, training for staff, franchising and acquisitions, joint ventures, providing products to different customers and changing your distribution chain.
Channels of distribution; original equipment manufacturers (OEMs), internal sales force, distributors and retailers.
Communication Strategy; how do you intend to reach out to your customers; promotions, advertising, public relations, personal selling, branded materials, brochures, flyers, social media, etc.

After a proper marketing strategy, the next step should be an overall sales strategy. How do you plan to sell your product?

Sales force strategy; internal sales agents, external ones, independent sellers, etc. What trainings are intending to give them, how do you recruit them and what about remuneration plans?
Actual Sales Activities: It is important to break down your sales strategy into activities how you intend to carry it out. It can include, identifying potential customers, selecting the one with the highest leads to make a sale, how to contact them and the frequency of calls or emails you will send. Cost should be considered when doing all these too.

This is for businesses that are requesting funding for their businesses or any form of grants and sponsorships. The following information is to be included;

The current financial requirement of your business.
If there will be any future requirements, you will need to state it as well.
How do you intend to use the money that will be given to you? Will it be for capital expenditure, working capital, debt servicing, acquisitions, expansion and more? It needs to be listed in this section.
Any other financial issues and circumstances need to be clearly stated as well e.g. buyout of business, acquisition, debt repayment plan, selling of business, etc. Your creditors need to know this since they will be impactful on repaying your loans.

When asking for financial support, grant and funding, you need to include the amount you want in the immediate and in the future, the period it will cover, the guidelines or repayment plan that is suitable for you and the type of funding you desire (e.g. equity, debt).

The development of this segment will be possible after a careful and predictable analysis of your market with set objectives. This will help one allocate resources efficiently. These two key areas are important for you to include in your financial projection;

Historical Financial Data: For a business that has been in operation for some years, creditors or potential investors will request to see your past financial statements as detailed as possible. Items to be included will cover income statements, expenditures, balance sheets, cash flow statements for each that you have been in existence as a business. Most times they request 3 to 5 years depending on how long your business has been operating. Some creditors can also go further to request for any collateral you might have that will be needed to insure your loan and this is regardless of your stage in business.
Prospective Financial Data: Whether you are a start-up or an ongoing business, investors will require that you provide your financial projections for your business based on market findings and analysis. Such documents which can cover up to 5 years will include, income statements, balance sheets, cash follow statements, capital expenditure budgets, etc. You can start from a monthly projection of the first year, and then move to quarterly and to the entire year. This can then be extended to 2 or 5 years depending on request. It is also important for your projections to be consistent with what funds you are requesting; any inconsistencies might seem like not knowing your numbers or integrity issues to your creditors. A short analysis of your financial information can be an advantage especially when done with images like graphs.

This aspect is provided on a request basis but it should not form part of your business plan. The plan is a tool of communicating your ideas and business case to people so many people can see this. On the other hand, some information is not for everyone to see but on the part of creditors, they feel safer asking for such documents when they are have to make a funding decision regarding your business. These documents will be more like proof and verification for the information you have provided in the body of your business plan.

The appendix will include the following;

Credit History (personal and business)
Resumes of key managers.
Product pictures.
Letters of reference.
Details of Market studies.
Relevant references from magazines and book references.
Licenses, permits, patents and copyrights,
Legal documents.
Lease copies
Building permits.
List of business consultants, including attorney and accountant.

Also copies of businesses plans should be kept and their distribution also monitored. This will help you be aware of when to update it for specific audience or purposes.

Just like in construction, it is required to have a design (except in rare cases) and plans to follow, a business that will require a lot of activities will equally need a plan (thought not always). Having a business plan and carrying out proper research about market, industry, competitions, trends helps you to have a blueprint on what you can work with. With a thorough analysis of development plan, your risk factor for business failure is reduced, predictable and also controllable.

And with a business plan at hand, you can keep track of your journey, improvements made, where you intend to go in the future and particularly and most importantly how you intend to achieve them. It is not enough to have a goal to make a millionaire naira; there must be a plan of attainment.

There is more to that saying that, “if you fail to plan, then you have also planned to fail”.

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How to start a small-scale business in Nigeria

Starting a small business can provide a number of benefits, both personally and financially. By learning how to start a small-scale business in Nigeria, you have the opportunity to earn extra income and potentially achieve financial independence . This can be especially beneficial if you are looking for ways to supplement your current income or to save for the future.

In addition to the potential financial benefits, learning how to start a small-scale business in Nigeria can also be a fulfilling way to pursue your passions and interests. Whether you are interested in selling handmade goods, offering a unique service, or making and selling a product you are passionate about, starting a small business can be a great way to do something you love and share it with others.

Moreover, owning and operating a small business can be a great way to contribute to your local economy and create jobs in your community. This can help to support the growth and development of your community and can provide opportunities for others to join your business or start their own.

Furthermore, starting and running a small business can provide a sense of accomplishment and pride. By building a successful business from the ground up, you can take pride in your achievements and in the impact, your business has on your community.

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Overall, starting a small business can be a rewarding and exciting venture that offers a range of personal and financial benefits

Taking steps on how to start a small-scale business can be an exciting and rewarding venture. But it can also be overwhelming, especially if you’re unsure where to start. In this blog post, we’ll go over some key steps to help you get your small business off the ground.

Recommended – How to start a clothing business in Nigeria

Identify your business idea.

The first step in starting a small business is to identify a product or service that you want to offer. This can be something that you’re passionate about or have experience in. Consider what market needs you can fulfill and what sets your business apart from competitors when brainstorming ideas.

Conduct market research.

Before you start your business, it’s important to understand who your target market is and what they need. This will help you create a product or service that meets their needs and sets you apart from your competitors. You can conduct market research by surveying potential customers, looking at industry trends, and studying your competitors. It is very important to know the demand for your product, if you don’t know then you will lose a lot of money.

Recommended – Top 10 Cheapest Businesses to Start in Nigeria

Create a business plan.

A business plan is a detailed document that outlines the goals, objectives, and strategies of your business. It should include a market analysis, financial projections, and a marketing plan. A well-written business plan will help you stay focused and on track, and can also be used to secure funding from investors or lenders. Once you have a clear idea of your business and its target market, you’ll need to create a business plan. This document outlines your business goals, strategies, and financial projections. It will serve as a roadmap for your business, helping you stay on track and make informed decisions.

Choose a business structure.

There are several different business structures to choose from, including sole proprietorship, partnership, and corporation. Each has its own advantages and disadvantages, so it’s essential to choose the one that’s right for your business. Consider factors like liability, taxes, and management structure when making your decision. Determine your business structure. The type of business structure you choose will determine how you are taxed and how much liability you have as a business owner. Consider the benefits and drawbacks of each structure before making a decision.

Create a strong brand

Before starting a business, it is very important to create a brand. Your brand is the image of your product, which people associate with it. So, it is important to create a brand that will make people talk about your product.

Create a good logo

When you create a brand you need to create a logo for it. A logo is the most important part of a brand. The logo will define the brand and tell people what you want to communicate. So, when you create a logo, you must be careful as it is not a joke. A logo will help you to attract customers and make them feel comfortable with your products.

Obtain necessary licenses and permits.

Depending on your location and type of business, you may need to obtain certain licenses and permits before you can legally operate. This can include a business license, zoning permits, and any industry-specific licenses or permits. Research the requirements for your specific business and obtain the necessary documents.

Choose a location.

Choosing the right location for your business is crucial for its success. Consider factors such as accessibility, visibility, and cost when selecting a location. If you are starting an online business, you may not need a physical location, but you will still need a dedicated

Set up your finances.

Managing your finances is essential for the success of your small-scale business. Set up a business bank account and separate your personal and business expenses. Create a budget and track your income and expenses to ensure you are staying on track. You may also need to set up a system for invoicing and payment processing. Changera can help you simplify this process through our services specially designed for business owners.

Market your business.

Marketing is essential for generating awareness and interest in your business. Develop a marketing plan that includes tactics such as social media, and email marketing. When you know the demand for your product then you will be able to create a good marketing strategy. If you have a good understanding of the market then you will be able to target the customers, create the brand and also build a good customer base.

In conclusion, learning how to start a small-scale business can be a great way to earn extra income, pursue your passions, and contribute to your local economy. It can also provide a sense of accomplishment and pride. If you have been considering starting a small business, now may be the perfect time to take the plunge and follow your dreams. Don’t forget to support small businesses in your community as well, and help to foster a thriving local economy. Changera Business can be very useful for you to receive payments when you start your small-scale business.

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The Ultimate Guide to Launching a Successful Supported Living Service

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PRODUCTIVITY

How To Start A Successful Small Scale Business In Nigeria

This article presents 14 steps actions that work in line with starting and growing your business in Nigeria. Start making your own money by starting a small business.

how to start a small scale business in Nigeria

So, you want to start a small business in Nigeria – A company!

Starting a successful business in Nigeria isn’t as difficult as you might think. There are plenty of opportunities out there for people who are willing to work hard. If you’re looking to start a business in Nigeria, then you should consider reading through this article first.

As a practising serial entrepreneur and business owner in Nigeria, I know what it takes to go around operating a small business, especially in a country like Nigeria, where almost everything works anti-clockwise.

Surprisingly, most first-time business owners, traders and intending entrepreneurs have one major setback: not knowing the best ideas to invest in.

Read: Top 500 Small Business Ideas For Anyone That Wants to Make it Big in Entrepreneurship

Your chances of success or failure in business depend on the market need that your product or service is trying to solve; the market target (demographics and economic power of that market segment), and your ability to Forecast Revenue and Position a Company for Growth.

So for an entrepreneur to start a business, he or she must have the ability to identify opportunities where others feel discomfort. It must be stated that though entrepreneurship always seems a better way to financial success, there is no much of a guarantee of success.

Quoting a well-researched article by CompanyDebt, 5 of the Biggest Struggles for Small Businesses in 2020 , despite the huge number of small businesses out there in the UK, more than 5.8 million at the last count, life can still be hard.

So, to improve your chances of success as a Nigerian entrepreneur, there are proven steps that successful entrepreneurs have taken, steps we believe would improve your chances in entrepreneurship in Nigeria.

Below is a list of steps any aspiring entrepreneur must take to start a lucrative business. These steps were arrived at from careful research, interviewing more than 50 successful Nigerian entrepreneurs.

Understand yourself

Scout for opportunities, develop the big idea, conduct market research, write a business plan, get expert feedback on your business plan, get legal covering – register your company.

Open a bank account
Setup a simple bookkeeping and accounting system

Seek funding for your business

Build a strong team behind your business.

Grow the business
Factors that affect how to start a business in Nigeria

Consider reading this high ranking article if you want to learn how to start a drop shipping business for the Nigerian Market and more – Click here .

Unfortunately, Nigerians are not “angels”, it is extremely difficult to ask a Nigerian, most of whom struggle with their individual finances, to give angel funding to a business.

How to guide – A step by step guide towards how to effectively start and run a successful business.

Total Time:

The ability to understand yourself as an entrepreneur is one of the very essential attributes entrepreneurs must have to be successful.

Understanding yourself has a lot to do with why you would want to become an entrepreneur and not sit behind a desk working a nine to five job. Read more on understanding entrepreneurs here.

You need to also understand why you intend to start a business: Are you seeking freedom from the stress of having to work for someone and have more control of your time, or are you trying to make more money and believe that you would be more successful as an entrepreneur?

Opportunity discovery or otherwise known as entrepreneurial discovery – has been defined by many thought leaders as the process of systematically scanning for changes in technology, social, demography, the political and regulatory landscape of a people or place to come up with new products, goods, services or service delivery methods.

As an entrepreneur, you must develop the capability to sniff out opportunities where other none trained eyes may see despair and frustrations. Remember, without pain, there are no entrepreneurial opportunities

I cannot stress this enough – At the very heart of a business, is the idea it is anchored on. Once you identify opportunities, the next thing is to develop an idea to seize the opportunities discovered.

Fortunately, like opportunity discovery, idea generation also has a process to it. There are lots of documented articles on developing ideas, please take your time to read up on the one I feel suits Nigeria the most here.

Most entrepreneurs take the leap from having an idea to set up a business without seeing the need to go through the steps highlighted here. A majority even go-ahead to hire experts to write their business plans without first taking the time to conduct market research.

Please do note that it is imperative to carry out market research before going forward to writing your business plan. Failure to conduct market research could be likened to building a hostel in the Sahara desert simply because you heard once you build it they would come.

Yes, you may see a couple of guests from time to time, but a carefully conducted market research would save you from unnecessary surprises.

Luckily, separate market research is needed and should be conducted for different stages of a business life cycle. The need for pre-launch market research differs from market researches needed to grow from one business stage to the other.

Read up on the 5 stages of business growth by HBR here

I bet that you must have heard the saying: failure to plan is planning to fail. So, we are always planning to do something either consciously or otherwise.

In starting a new business, you must make deliberate efforts at planning and documenting how you want to see your business thrive; you must detail every thought you have given to the process, your goals, marketing, financials, etc.

According to Investopedia , a business plan is a written document that describes in detail how a business—usually a new one—is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint.

The main usefulness of a business plan to a startup is that it helps you see a helicopter view of your company and how it is positioned.

Major component sections of a business plan, according to Sequoia capitals , are: Company purpose Start here: define your company in a single declarative This is harder than it looks. It’s easy to get caught up listing features instead of communicating your mission.

Problem Definition: Describe the pain of your customer, how this pain is addressed today and what the shortcomings to current solutions are.

Solution: Explain your eureka moment. Why is your value prop unique and compelling? Why will it endure? And where does it go from here?

Why now? The best companies almost always have a clear why now? Nature hates a vacuum—so why hasn’t your solution been built before now?

Market potential : Identify your customers and your market. Some of the best companies invent their own markets.

Competition/alternatives: Who are your direct and indirect competitors? Show that you have a plan to win.

Business model: How do you intend to thrive?

Team: Tell the story of your founders and key team members.

Financials: If you have any, please include it.

Vision: If all goes well, what will you have built, in five years?

It is always a very laudable idea to write your own business plan as an entrepreneur and give it out to a business plan writing service for expert review and possibly a rewrite. What this would avail you is a view of all the processes and stages your business must follow to attain your desired objectives.

No business expert would be able to read your mind and write your plan the way you have envisioned it, and writing it yourself would also keep you abreast of most of the nitty-gritty and challenges you may encounter at different stages of your business.

Yes, register your company. Avoid using a business name to start and run a successful business unless of course that you are testing the waters.

It is good practice to hire a lawyer to help you with the incorporation processes. There are many advantages to registering your business, you may read up on some here – https://utibeetim.com/9-benefits-of-business-registration/

Setup a simple book-keeping, Invoicing, and accounting system

Setup A Simple Bookkeeping And Accounting System

To an untrained eye, Accounting and Bookkeeping may appear similar, they are however different, though they overlap at various functions.

Bookkeeping involves the day-to-day entry of all financial transactions entered into by a small business or company, while Accounting is the high-level interpretation of records, viz classification, analyzing, and reporting of transactions.

In business, especially as a startup, you need a system for tracking all financial transactions and records. Not only is it a requirement for reporting finance, but it is also a means of projecting and reporting the overall position of a company’s performance.

For ease of accounting, I would recommend some products that take care of your accounting from invoicing down to inventory control. Such software include the likes of Sage , Invoice.ng , etc.

It is always in the interest of a startup to hire a professional to set up a proper system that fits into the operations of the company.

Bootstrapping is always the first choice for startup funding for most entrepreneurs.

However, though this typically comes as a natural instinct for most entrepreneurs due to the simple fact that there is always the need to validate their own business ideas before asking someone else for funding, there are many other legitimate sources of funding out here in Nigeria.

Family and friends Government institutions Government grants Local Venture capital firms International venture capital firms

A major error most entrepreneurs make is that because they are very good technically, they assume they are also good at running businesses. Unfortunately, most entrepreneurs going into business do so because they mastered the technical aspects of the business they intend going into.

The author of the E-Myth, Michael E. Gerber writes that most entrepreneurs make a fatal assumption, that is: “if you understand the technical work of a business, you understand a business that does that technical work.”

As a fresh entrepreneur, you would definitely lack a lot of skills with most of those skills essential to the successful running of your business.

Create a team around your weaknesses, try to get people better than you and pay them well. If you cannot afford to build a team immediately, try and start from the most essential skills and gradually build your way up.

Business success is more about the team than the idea. The stronger your team, the more capabilities you have at executive your business tasks and achieving your set goals.

Grow your business

Yes, ideas without proper execution When it comes to starting a business, not all business ideas are worth starting at all. Ensure that you carry out a feasibility study and follow the report generated to know the kind of business – Product or service that best suite your target market.

The best business ideas are unique, practical, needed by the market and easy to scale. In the search for a business idea, start by looking at what problems exist in your environment and try to provide a solution to such a problem and monetize it.

And if your business idea is completely new, think of what your business can offer and focus on how to create something better and cheaper.

You may need to ask questions from people, make your own research and as well seek advice from entrepreneurs.

Understand Factors That Affect Businesses

Businesses succeed faster within a functional ecosystem – this is a known fact. Researchers have carried out several pieces of research with the hope of pinpointing the success sauce that any entrepreneur or business owner can key into and have a fairly great chance at business success.

Fortunately, these researchers all agree on the same outcomes; to be a successful entrepreneur, 3 factors usually come to play. These factors are resources that shape the entire business landscape, regardless of geographical location and the type of business.

Access to markets, the supply of human capital, and access to funding have been identified as the foremost resources cum success factors common with every successful business. It is important that you locate your office or operational base close to either your raw materials, resources or market.

This article takes a look at these factors with a view to understanding how they affect the micro and small business concerns in Nigeria. Understanding how these resources affect the growth of micro and small businesses may help a budding entrepreneur better understand the business landscape and better design her business structures. 1. Access To Markets: This is rather a very controversial piece; Nigeria has a population of about 180 million people, with about 30% of these people as prospective markets regardless of the type of business ventured.

It, therefore, means that regardless of the type of business ventured into, the minimum possible market size being shared by all players within that market nation-wide is a minimum of 54 million possible clients – That is huge!

This, therefore, means that Nigeria is a viable market considering the market size and disregarding other determining factors. This finding, therefore, begs for the answer to the question of why Nigerian businesses would rather look to satisfying the foreign markets over their local markets.

2. Human Capital Development: Unfortunately, the educational system of this great country has been neglected by subsequent governments since the late ’80s.

The university system still finds it fashionable to take her under-graduates through seemingly obsolete programs and curricular, making their products unsuitable for market demands in terms of skills.

The backlash to this is that Nigeria is not well equipped to play competitively in the global market due to her skills and know-how deficiencies. Manpower is very critical in controlling product value, viz quality, and pricing due to costs associated with skills and labour.

With the scarcity of manpower, the available few that have sought ways of developing themselves mostly outside the current educational system are mostly absorbed by multinationals, and other high net-worth companies all competing within the same market as the micro and small enterprises. Only a few end up as entrepreneurs.

3. Access To Funding: This is one major issue plaguing Nigerian businesses. Raising capital for business in Nigeria is not an easy task. In several pieces of research conducted, angel investment and venture capital were the two sources of funding selected as most important for companies’ growth.

Only a few venture capital firms from outside the country invest in Nigeria, and unfortunately, the prevailing bank lending rate of over 25% makes it near impossible to do business with.

So, to start and run a successful, an entrepreneur must first seek ways to circumnavigate the identified issues; the government and other high-growth companies should help to find ways to increase entrepreneurs’ access to the identified resources. To make one available without the other will not make any impact; the three factors must be dealt with and managed properly prior to starting a business. Fortunately, with the establishments of companies like Experts.ng the shortage of skills can be easily taken care of through the access to verified experts willing to carry out micro-consulting tasks for a fraction of their normal charges outside the experts.ng platform. With the right skills taken care of, the Nigeria market is resilient enough to deal with possible shock from lack of funding, due to the size of the available market. Just like Jack Ma’s Alibaba, the Nigerian entrepreneur must, therefore, find ways to create a chain of resources and partners readily available to form the much-needed ecosystem, even if it is virtual.

The best business ideas are unique, practical, needed by the market and easy to scale. In the search for a business idea, start by looking at what problems exist in your environment and try to provide a solution to such a problem and monetize it

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Top 10 Small-Scale Business Ideas in Nigeria

June 9, 2023

Folasade Daini

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In 2020, with less than five thousand naira in her bank account, Mercy started her first small-scale business, an online perfume store.

Although the profits didn’t roll in immediately, keeping the business afloat wasn’t difficult since it didn't need a lot of capital. Mercy now has hundreds of customers and teaches beginners how to start their small-scale perfume business.

Just like Mercy started her small business with little capital, you can do the same. This article suggests ten small-scale businesses you can start today, some for as low as five thousand naira.

In this blog post, you’ll find:

Definition of a small-scale business
10 Small-Scale Business Ideas - Private Catering - Fashion Business - Small chops catering - Content Creation - Online Thrift Store - Makeup and Gele Business - Private Tutoring - Perfume Business - Bedding Accessories

What is a small-scale business in Nigeria?

Small-scale businesses are privately owned businesses that typically require minimal capital to begin, have a limited number of employees, and operate independently within a localized area.

If you've been wondering, here are three signs you should start your small business today: ‍

You already have the skill: since many of these businesses are skill based— like hairstyling, catering, and private tutoring— you need little or no money to begin. For example, you can start a home-service-based hairstyling business with less than five thousand naira. The most important thing is that you know how to plait hair. ‍
You want to be your own Boss: If you want to work on your terms, decide your working hours, and build something for you, starting a small business is your best bet. The best part, you don't even need a business partner to start. However, if you want to partner with someone with better expertise in an area you lack, you can use the OurPass team management tools to foster transparency and accountability. ‍
You're reading this blog post: Admit it. You clicked on this link because you know you're ready deep down. Now, you just need to review our shared ideas and start.

Also Read: How to Start a Small Business: 6 Proven Steps with Real-life Examples

Ten small-scale business ideas in nigeria, 1. personal catering.

You can start this small business by preparing different meals according to customer preferences or what’s on your menu.

To start your catering business in Nigeria, you'll need to figure out the following:

Pricing : Start by finding the market prices of foodstuff. Select the meals for your first menu, depending on your capacity.
Advertise : Tell your friends and build your social presence on Instagram, Facebook, and Twitter. Plate the meals properly to make them look good. An excellent example of someone who does this well is Tinu's Kitchen , an online personal catering business. ‍
‍ Get a Business Bank Account: Whatever payment method you choose, open a free bank account to avoid mixing personal and business funds. All you have to do is create a free account with OurPass .

Another option is to visit home kitchens to cook in bulk for customers. You need almost no capital to start this. The client provides the ingredients and cooking materials; you'll get paid for your service.

2. Fashion Businesses

Ready-to-wear, Bespoke tailoring, Fashion accessories, or Personal Styling, the options for starting a small-scale fashion business are many.

Many of these sound fancy, but you can start with the good old tailoring business and grow as your talents expand. All you need are your skills, a decent sewing machine, and your space (your bedroom will suffice).

Another option is to import fast fashion items from online companies like Shein .

For example, Christabelle of LuxebyBella started by importing fashion items before she launched her Bespoke tailoring brand and, later, her ready-to-wear brand.

To start your fashion business from scratch, you'll need the following:

Business Capital: Cut costs by outsourcing the tailoring and paying a service fee instead of hiring your own tailors and buying equipment.
Practice : If you choose to make the clothes yourself, it is vital to keep improving your craft. To save cost, you can use free sewing tutorials on youtube. ‍
A business bank account : To avoid financial mistakes, separate personal and business finances from the get-go. OurPass business banking platform provides a free business bank account and tools to send out invoices, receive payments and manage your team in one place.

If you start today, you'll be well on your way to building your dream business. For example, in less than five years, LuxebyBella has grown into a ready-to-wear brand where she creates unique designs and stays relevant by constantly being creative.

3. Small Chops Catering

If you’ve ever been to a Nigerian Owanbe, then you know getting a small chops vendor is non-negotiable.

Jessica saw this business opportunity in 2020 and started selling puff puff, flavored bread, and spring rolls. She already had an oven, so she only needed twenty thousand naira to get a hand mixer.

To start your small chops business, you'll need the following:

Learn how to make small chops : There are YouTube videos from food creators like SisiYemmieTV where you can learn for free ‍ ‍
Create a store : while you can sell your small chops at a walk-in store, starting with an online Instagram shop is cheaper. ‍ ‍
Figure out payments: Elevate your brand by creating and sending professional invoices to your event vendors. ‍
‍ Get a Business Bank Account : Whatever payment method you choose, open a free bank account to avoid mixing personal and business funds.

Start with pastries like meat pie, chinchin, sausage rolls, and banana bread to grow your business and reduce costs.

You do not need expensive equipment like mixers to make these.

4. Hair Styling

From my experience, the average woman in Nigeria spends at least three thousand five hundred naira per month on her hair.

If you have ten customers monthly, you'll make about thirty-five thousand naira from your hairstyling business.

You can start by offering home services for a start. To begin your hairstyling business, you'll need the following: ‍

Choose an area of expertise : Braiding, Wig installations, Natural hair styling, Short haircuts, etc. You can also share your styling tips online, just like Michelle does.
Buy Equipment : Hair extensions, cutting combs, styling gels, and a mobile bag to take everything with you. ‍ ‍
Payment method: Get a Point of Sales terminal (POS terminal) for physical and bulk deliveries. You can also create professional invoices and send them via mail with payment links.

Starting this business requires less than ten thousand naira, especially when you offer only home services.

You only need to buy hair products, combs, a dryer, and a mobile bag to carry the items.

5. Content Creation

Content creation is a small business most people avoid because they think they need expensive iPhones or gadgets to start.

This isn’t always true. When Alma Asinobi started creating content, she had no fancy equipment.

She began with what she had—an Android phone, an Instagram account, and a small community of less than 1000 people who believed in her.

Less than three years later, Alma has nearly 100,000 followers across all platforms and works with brands to create organic content, influence their products, and attend events.

To start as a content creator, you need the following:

Create high-quality content: Sharing valuable content is a great way to grow your online following. Focus on helping your community thrive through educational or entertaining content. ‍
A phone and tripod: Don't wait till you have fancy gadgets. Use your current phone, get a tripod, and start creating. ‍
Learn how to monetize : It's great to hone your content creation skills, but you must remember the business part. But you also need to make money by pitching and partnering with brands that align with your values. An easy way to learn is to see how top creatives have done it in this guide on making money as a content creator .

You must have built an engaged community before earning money from brand-influencing deals as a creator.

This will only happen if you genuinely care about your audience and consistently share online.

6. Online Thrift Business

The sale of second-hand items, known as Okrika in Nigeria, is popular because people want to cut purchasing costs.

Whatever product you choose to sell in your thrift store, you need to do your market research and find your niche.

This will help you determine what grade of thrift products they want, how often they buy, and how much they spend per time.

These will help you determine how to position your brand and how much capital to start with.

Start thrifting in these easy steps: ‍

Buy in bulk : Visit popular markets like Balogun in Lagos to get bales of thrift clothes at a cheaper price.
Brand your business: anyone can get clothes from the market, so you distinguish yourself with a good brand identity. Choose a brand name and get a logo if you can afford to. Keep your brand name short, memorable, and unique. ‍
Set up your online store : set up an eCommerce or a social media store– use Instagram or Facebook marketplace.

For this small-scale business, exploring different markets and patronizing other suppliers is advisable to get the best deal.

7. Private Tutoring

"There's a huge market for private academic tutoring because parents constantly want their kids to improve,” Kikky Samuel, a private tutor, told us.

Even if you're not academically inclined, you can explore other forms of coaching, including giving music, dance, and sports lessons.

To start a private tutoring small business, you need the following:

Credibility and trust : getting your first client is the easy part. Teaching is a huge responsibility; hence, you must demonstrate good character to earn further client recommendations.
A low barrier to entry : Use platforms like Prep Class to put up your coaching business for free online, display past results, and get job recommendations.
Zero Capital : This is one of the small-scale business ideas you can start with zero naira in your bank account. All you need to do is to get your first client and provide value.

Although people often overlook private tutoring as a small business idea in Nigeria, it is profitable for those who enjoy teaching.

You can also grow your customer base without stress. You only need to land your first client and get good referrals.

8. Makeup and Gele Services

Before Laura Kanayo launched her makeup business, she trained with youtube videos.

She invested in her learning process by buying a few products and practicing on faces.

However, she advises anyone who wants to start a makeup business to take professional training.

To start this small-scale business, you need the following: ‍

An initial investment: "Invest in quality products from the start." Laura shares. We agree. However, quality doesn't always mean expensive. Take advantage of makeup product fairs to get good products at affordable prices. ‍
Get Training : This depends on your chosen trainer and your desired products. Essential products include brushes, shades of foundation and powder, lights, and chairs. See this tutorial on how to become a freelance makeup artist . ‍
Manage your Business with Professional Tools: Choose a reliable business banking platform to recoup your expenses quickly. Create a separate bank account to trace past payments and easily manage your business.

Building an online presence is essential for a makeup artist.

Use a visual platform like Instagram to show potential customers samples of your work.

9. Perfume store

Consider this if you want something to do easily from the comfort of your home with less than five thousand naira (N5,000).

Although there are different wholesale packages depending on your budget and target market, D’fragrance Home ’s business started with only 4,200 naira in 2020.

Here are the main things to know before starting this small-scale business: ‍

Do your Research: Before D’fragrance Home officially launched, Mercy spent two months researching the business to know whether it was one business she wanted to enter.
Stay Consistent: Three years after D’fragrance Home launched, she’s now selling to hundreds of customers on her website and training those who want to start the business. Consistency pays.
Know Your Target Customers: This is one of the least capital-intensive small-scale businesses you can start in Nigeria. But you might need more money if you're targeting customers with expensive tastes.

No matter the type of perfume you sell, you'll grow your business faster if you act like a professional. Of the ways to do this is to send professional invoices using this free invoicing tool for small-scale businesses.

10. Bedding Accessories

An excellent way to start selling bedding accessories with little capital is to avoid making bed sheets in bulk.

Instead, let your customers select fabrics directly from your supplier’s catalog, who will sew and deliver straight to them in your brand’s name.

To start selling bedding accessories, you’ll need the following: ‍

Find a Reliable Vendor: Find a supplier, pick the fabric, and share with a tailor to make the bed sheets.
Cater to different tastes : allow customers to select the fabrics digitally before incurring production costs. A quick tip: Accept a deposit for the order; this way, you minimize your investment cost. ‍
Separate business and personal finances: separate personal and business income by opening a free business bank account on OurPass

No matter the small-scale business idea you choose — from personal catering to tutoring, makeup and gele, perfume, and bedding accessories, make sure it is one you genuinely enjoy.

To thrive with any small-scale business, you need the right idea and tools to grow the business in the long run.

Take advantage of innovative business banking tools from OurPass to meet your business’s day-to-day operational needs.

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StartBizEasy

65 Most Profitable Small Scale Business in Nigeria

In the dynamic and continuously evolving business environment of Nigeria, small-scale enterprises have emerged as influential drivers of economic growth and transformation.

From bustling marketplaces in Lagos to remote villages in the Niger Delta, these small businesses have been instrumental in driving employment, fostering innovation, and shaping the nation’s entrepreneurial spirit.

In this blog post, we will delve into the discussion of the 65 most lucrative small scale business in Nigeria. But before then, let’s define what a small scale business is.

What is a small scale business.

In Nigeria, a small-scale business refers to a privately owned enterprise that operates on a relatively small scale in terms of employees, revenue, and market presence. The criteria for defining a small-scale business in Nigeria are outlined by various government agencies and industry associations.

For instance; The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) provides guidelines for categorizing businesses based on their size in Nigeria.

Small-scale businesses in Nigeria span various sectors, including retail, manufacturing, agriculture, services, technology, and hospitality.

Common examples of small-scale businesses in Nigeria include neighborhood grocery stores (known as “provision stores” or “kiosks”), fashion boutiques, beauty salons, small-scale manufacturing units, catering services, cyber cafes, and small-scale farming enterprises.

1. Crop farming (vegetables, fruits, or grains):

Crop farming involves cultivating various crops like tomatoes, peppers, maize, or rice. It requires suitable land, knowledge of farming techniques, and access to water. You can sell the harvested crops to local markets, restaurants, or wholesalers.

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2. Beauty spa or skincare services:

This business focuses on providing beauty and skincare treatments, such as facials, massages, manicures, and pedicures. You’ll need a well-equipped spa, trained beauticians, and quality skincare products. Target customers include individuals seeking relaxation and improved appearance.

READ MORE: How to start up a Spa business: Comprehensive Guide

3. Laundry and dry cleaning:

With this business, you offer laundry services to individuals and businesses. This can involve washing, ironing, and dry cleaning clothes and linens. You’ll need washing machines, irons, and a good location. Building relationships with hotels and offices can help secure regular clients.

Read More: How to Start a Profitable Laundry Business in Nigeria

4. Fashion boutique:

Running a fashion boutique involves selling trendy clothing and accessories. You can curate a collection based on your target market’s preferences. Focus on offering unique designs and quality products. Location, branding, and marketing play crucial roles in attracting customers.

Read More: From Concept to Success: How to Start a Clothing Business

5. Mobile phone repair and sales:

This business focuses on repairing damaged mobile phones and selling new or refurbished ones. You’ll need skilled technicians, phone parts and accessories, and a service center. Building partnerships with phone retailers and offering quality repairs can help establish a loyal customer base.

Read More: How to Start a Phone Repair Business: Your Complete Guide

6. Car wash and detailing services:

This business entails providing car cleaning and detailing services. Offer options like interior and exterior cleaning, polishing, and waxing. Select a strategic location near busy roads or residential areas. Build a reputation for quality service and punctuality.

Read More: Car wash business in Nigeria: Make 900k Monthly

7. Graphic design and printing services:

This business caters to clients seeking graphic design services and printing of materials like business cards, brochures, and banners. You’ll need design software, printing equipment, and a skilled team. Establish connections with businesses, event planners, and marketers to secure orders.

Read More: How to Start a Printing and Publishing Business in Nigeria

8. Event planning and management:

Event planning involves organizing and coordinating various types of events, such as weddings, corporate functions, and parties. You’ll need creativity, organizational skills, and contacts in the industry. Offering unique themes and reliable services will help attract clients.

Read Also: How to Start a Catering Services Business: Tips and Templates

9. Fish farming:

Fish farming is the controlled cultivation of fish for consumption. It requires suitable ponds or tanks, knowledge of fish-rearing techniques, and access to fish feed. You can sell the fish to local markets, restaurants, or individuals. Market research and understanding customer preferences are crucial for success.

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10. Bakery:

Running a bakery involves producing and selling baked goods like bread, pastries, cakes, and cookies. You’ll need baking equipment, skilled bakers, and quality ingredients. Create a diverse menu, maintain consistency in taste, and consider offering customized products for special occasions.

READ MORE: How to Start a Bakery Business in Nigeria

11. POS Agent

POS agent business is indeed a small-scale business idea that can be started in Nigeria. It requires relatively low capital investment and offers the opportunity to provide essential financial services to the local community. By partnering with banks or financial institutions and setting up a POS terminal, you can facilitate transactions, bill payments, cash withdrawals, and other financial services for customers.

Read More: How to Start POS Business in Nigeria: Easy Guide

12. Interior decoration and design:

This business focuses on transforming the interiors of homes, offices, or event venues. Offer services like space planning, furniture selection, and decor installation. Develop relationships with suppliers and stay updated on the latest design trends to attract clients.

Read More: Interior Design Business in Nigeria: A Complete Guide

13. Solar panel installation and maintenance:

With the increasing demand for renewable energy, this business involves installing and maintaining solar panels for residential and commercial clients. You’ll need technical expertise, knowledge of solar systems, and reliable suppliers. Market your services to environmentally conscious customers.

14. Real estate agency:

As a real estate agent, you help clients buy, sell, or rent properties. You’ll need good negotiation skills, knowledge of the local real estate market, and connections with property owners. Advertise listings online, network with potential clients, and provide exceptional customer service.

Read More: How to Start Real Estate Business in Nigeria

15. Car rental services:

This business involves renting out vehicles to individuals or businesses. You’ll need a fleet of well-maintained cars, valid licenses, and insurance. Market your services to tourists, travelers, and corporate clients. Develop an online booking system for convenience.

16. Snail farming:

Snail farming involves breeding and rearing snails for commercial purposes. It requires suitable housing, proper feeding, and knowledge of snail care. Snails are in demand for their meat and slime, which are used in various industries like cosmetics and medicine.

Read More: How to Run a Profitable Snail Farming Business in Nigeria

17. Computer repair and maintenance:

This business focuses on repairing and maintaining computers and laptops. You’ll need technical expertise, diagnostic tools, and a repair workshop. Market your services to individuals, businesses, and educational institutions.

Read More: How to Start a Computer Repair Service Business: Step-by-Step Guide

18. Cybercafe or Internet services:

Set up a cybercafe where customers can access the internet, print documents, and use computer services. You’ll need computers, high-speed internet connection, and printing facilities. Target students, professionals, and individuals without internet access.

Read More: How to Start a Cyber Cafe Business in Nigeria (The 9 Steps)

19. Photography and videography:

Start a photography and videography service for various occasions like weddings, birthdays, and corporate events. Invest in quality camera equipment, editing software, and lighting. Build a strong portfolio and network with event planners and businesses.

Read More: How to Start a Photography Business in 9 Simple Steps

20. Carpenters’ tool production:

Manufacturing and selling carpenters’ tools like saws, chisels, and planes can be a profitable business. You’ll need a workshop, machinery, and knowledge of tool production. Target carpenters, woodworking enthusiasts, and construction companies.

Read Also: Starting a Furniture Business in Nigeria: A Comprehensive Guide

21. Organic food store:

Open an organic food store that offers a wide range of organic products such as fruits, vegetables, grains, and dairy products. Establish relationships with local farmers and suppliers to ensure a fresh and diverse inventory. Educate customers about the benefits of organic food.

22. Toy rental services:

Provide a toy rental service where parents can rent toys for their children on a temporary basis. You’ll need a collection of age-appropriate toys, storage space, and a user-friendly rental system. Market your services to families, preschools, and event organizers.

23. Herb and spice farming:

Cultivate and sell herbs and spices such as basil, mint, ginger, and turmeric. You can grow them in a small garden or greenhouse. Target health-conscious individuals, restaurants, and spice retailers.

READ MORE: How to Start a Farming Business in Nigeria

24. Waste recycling and upcycling:

Start a business that focuses on recycling and upcycling waste materials like paper, plastics, or glass. You can process these materials into new products or sell them to recycling companies. Raise awareness about the importance of recycling in your community.

25. Electronic repairs and maintenance:

Offer repairs and maintenance services for electronic devices like televisions, home appliances, and audio equipment. Acquire technical skills, diagnostic tools, and replacement parts. Advertise your services through local media and online platforms.

Read More: How to Start Electronic Components Business: Sourcing, Selling, Succeeding

26. Art gallery or exhibition space:

Open an art gallery or exhibition space to showcase and sell artworks created by local artists. You’ll need a suitable location, display systems, and marketing efforts to attract art enthusiasts, collectors, and interior designers.

27. Livestock feed production:

Start a livestock feed production business, manufacturing and selling nutritious animal feed. Research different feed formulations and develop partnerships with local farmers. Market your products to livestock farmers and animal breeders.

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28. Grocery delivery services:

Provide a convenient grocery delivery service where customers can order groceries online and have them delivered to their doorstep. Create partnerships with local supermarkets or establish your own inventory. Develop a user-friendly website or mobile app for easy ordering.

READ MORE: How to Start a Supermarket Business in Nigeria

29. Music and instrument lessons:

If you have musical skills, offer music lessons for instruments like piano, guitar, drums, or violin. You can teach one-on-one or in group settings. Create a structured curriculum, set competitive pricing, and offer flexible scheduling options. Advertise your services in schools, community centers, and online platforms.

30. Security equipment sales and installation:

Start a business selling and installing security equipment such as CCTV cameras, alarm systems, and access control devices. Establish partnerships with manufacturers or distributors to ensure a steady supply of quality products. Target homeowners, businesses, and institutions concerned about security.

31. Bookstore or stationery shop:

Open a bookstore or stationery shop where customers can find a wide range of books, magazines, stationery, and related items. Create a welcoming and organized space, curate a diverse collection of books, and offer additional services such as book recommendations, author events, and reading clubs. Cater to students, professionals, and book enthusiasts looking for quality reading materials and stationery supplies.

Read More: How to Start Selling Used Books for Money: Tips and Strategies

32. Pet breeding and sales:

Start a business focused on breeding and selling pets, such as dogs, cats, or exotic birds. Ensure responsible breeding practices, provide proper veterinary care, and prioritize the well-being of the animals. Build a reputation for healthy and well-socialized pets, target pet lovers, and establish connections with local pet-related organizations and communities.

33. Renewable energy products sales:

Establish a business that sells renewable energy products like solar panels, wind turbines, or energy-efficient appliances. Educate customers about the benefits of renewable energy, offer consultation on system design and installation, and provide reliable products that contribute to sustainable living. Target residential and commercial customers seeking eco-friendly solutions and cost savings on energy bills.

34. Language translation services:

Offer professional language translation services for written documents, websites, or verbal communication. Specialize in multiple languages and industries, ensuring accurate and culturally appropriate translations. Serve businesses, government agencies, and individuals seeking reliable language services for communication, documentation, or market expansion purposes.

35. Food processing and packaging:

Start a business that processes and packages food products such as jams, sauces, or snacks. Ensure compliance with food safety regulations, focus on high-quality ingredients, and create attractive packaging that appeals to customers. Distribute your products to supermarkets, restaurants, and retailers, or explore direct-to-consumer sales through online platforms or your own retail outlet.

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36. HR consulting services:

Provide human resources consulting services to businesses, assisting them with various HR functions such as recruitment, employee training, performance management, and HR strategy development. Stay updated on employment laws and industry trends, offer customized solutions based on client needs, and help businesses optimize their human capital for improved productivity and organizational success.

Read More: How to Start a Consulting Business in 6 Steps

37. Import and export business:

Start an import and export business, sourcing products from one country and selling them in another. Develop relationships with suppliers and distributors, navigate international trade regulations, and ensure efficient logistics and customs clearance. Identify market demands and trends, and offer products that cater to the specific needs of customers in Nigeria or overseas.

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38. Water treatment and purification:

Provide water treatment and purification services to ensure access to clean and safe drinking water. Install and maintain water filtration systems, conduct water testing, and offer solutions for water treatment and purification challenges. Serve residential, commercial, and industrial clients, emphasizing the importance of water quality and promoting healthier living and sustainable practices.

39. Car tracking and security services:

Establish a business that offers car tracking and security services by installing GPS tracking systems in vehicles and providing monitoring and recovery services. Target individuals, fleet owners, and transportation companies concerned about vehicle security, asset management, and driver safety. Differentiate your services through advanced tracking technology, responsive customer support, and quick recovery solutions in case of theft or emergencies.

40. Building materials sales:

Start a business that sells building materials such as cement, bricks, steel, roofing materials, and other construction essentials. Establish relationships with suppliers and builders, ensure competitive pricing and reliable delivery, and cater to the construction industry’s needs. Offer quality products, provide technical expertise, and strive for customer satisfaction through excellent service and efficient supply management.

READ ALSO: Start a Cement Business in Nigeria as a Retailer

41. Personal shopping and concierge services:

Offer personalized shopping and concierge services to busy individuals or those who need assistance with shopping, event planning, or travel arrangements. Provide a range of services like gift shopping, grocery shopping, event coordination, and travel bookings. Build strong relationships with clients, offer convenience, and deliver exceptional service tailored to their specific requirements.

42. Fitness center or gym:

Establish a fitness center or gym that offers a variety of exercise equipment, fitness classes, and personalized training programs. Create a motivating environment, hire qualified fitness instructors, and offer services for different fitness levels and goals. Focus on providing excellent customer service, promoting a healthy lifestyle, and helping individuals achieve their fitness objectives.

READ MORE: How to be a successful Fitness Trainer

43. Furniture making and carpentry:

Start a business that specializes in furniture making and carpentry services. Design and manufacture custom furniture pieces, offer furniture repair and restoration, and provide carpentry services for residential and commercial projects. Emphasize quality craftsmanship, use durable materials, and cater to customers seeking unique, functional, and aesthetically pleasing furniture.

Read More: Starting a Furniture Business in Nigeria: A Comprehensive Guide

44. Hair salon or barbershop:

Open a hair salon or barbershop that offers a range of hair services, including haircuts, styling, coloring, and treatments. Create a comfortable and stylish space, hire skilled hairstylists, and use high-quality hair care products. Cater to both men and women, and establish a loyal customer base through excellent service and customer satisfaction.

The Ultimate Guide to Starting a Profitable Barbing Salon Business in Nigeria

45. Beauty spa or skincare services:

Establish a beauty spa that offers a range of skincare services, such as facials, body treatments, massages, and beauty treatments. Create a relaxing and serene environment, use high-quality skincare products, and employ licensed professionals. Offer personalized consultations, recommend skincare regimens, and provide treatments that enhance the overall well-being and appearance of your clients.

Read More: Starting a Beauty Salon Business: Tips, and Strategies for Success

46. Courier and delivery services:

Start a courier and delivery service that provides efficient and reliable delivery solutions for individuals and businesses. Offer services like same-day delivery, express shipping, and package tracking. Utilize a fleet of vehicles or partner with existing delivery networks to ensure timely and secure deliveries. Build a reputation for promptness, reliability, and excellent customer service.

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47. Computer and laptop sales:

Establish a business that sells computers and laptops to individuals, businesses, and educational institutions. Source a variety of brands and models, including desktop computers, laptops, accessories, and peripherals. Provide technical expertise, offer after-sales support, and cater to the specific needs and budgets of your customers. Stay updated on the latest technology trends and provide solutions that meet the evolving demands of the market.

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48. Plumbing services:

Start a plumbing services business that offers a wide range of plumbing solutions to residential and commercial clients. Provide services such as repairs, installations, maintenance, and plumbing system inspections. Employ skilled plumbers, use high-quality materials, and prioritize customer satisfaction. Build a reputation for reliability, responsiveness, and expertise in resolving plumbing issues.

49. Welding and metal fabrication:

Offer welding and metal fabrication services to individuals, businesses, and construction projects. Specialize in various metalworking techniques, including welding, cutting, and shaping metal structures and components. Provide customized solutions, ensure high-quality craftsmanship, and adhere to safety standards. Target industries such as construction, manufacturing, and automotive for both small-scale and large-scale projects.

50. Dropshipping business:

Start a dropshipping business where you partner with suppliers to sell their products online without the need for inventory management or shipping logistics. Set up an e-commerce store, curate a selection of products from different suppliers, and market them to your target audience. When a customer places an order, the supplier handles the packaging and shipping while you earn a profit margin.

Read More: How to Start a Dropshipping Business in 6 Steps”

51. Affiliate marketing:

Enter the field of affiliate marketing where you promote other companies’ products or services and earn a commission for each sale or lead generated through your referral. Build a website or utilize social media platforms to create engaging content and drive traffic to the affiliate products. Partner with reputable brands, track your performance, and optimize your marketing efforts to maximize earnings.

Read Also: Top 20 Affiliate Platforms to make money from this BLACK FRIDAY

52. Bed and breakfast accommodation (Airbnb):

Offer bed and breakfast accommodation by listing your property on platforms like Airbnb. Provide comfortable rooms, amenities, and personalized services to travelers seeking a homely and authentic experience. Create attractive listings, maintain cleanliness, and deliver exceptional hospitality to earn positive reviews and attract more guests.

53. Gym equipment sales:

Start a business that sells gym equipment to fitness enthusiasts, individuals, and commercial gyms. Source a range of exercise machines, weights, accessories, and fitness gear. Cater to different budgets and fitness goals, provide expert guidance on equipment selection, and offer after-sales support. Promote the benefits of a healthy lifestyle and provide quality products to customers.

Read More: How to be a successful Fitness Trainer

54. Pest control services:

Offer pest control services to residential and commercial properties, addressing issues with pests such as insects, rodents, or termites. Conduct thorough inspections, provide effective pest control treatments, and offer preventive measures to ensure long-term pest management. Focus on eco-friendly and safe pest control practices, and build a reputation for reliable and efficient pest eradication.

55. Shoe repair and cobbling services:

Start a shoe repair and cobbling services business, providing services such as shoe cleaning, sole repair, stitching, and shoe customization. Use quality materials, employ skilled cobblers, and offer quick turnaround times. Target individuals, shoe stores, and businesses that require professional shoe repair and maintenance services.

Read More: How to Start a Successful Shoe Making Business

56. Online advertising agency:

Establish an online advertising agency that helps businesses create and implement effective digital marketing strategies. Offer services such as search engine optimization (SEO), pay-per-click (PPC) advertising, social media advertising, and content marketing. Help clients reach their target audience, increase brand visibility, and generate leads and conversions through online channels.

Read More: How to Start a Social Media Management Company/Agency (The Complete 8 Steps)

57. Social media influencer or blogger:

Build a personal brand as a social media influencer or blogger by creating engaging content in a specific niche. Utilize platforms like Instagram, YouTube, or a personal blog to share your expertise, experiences, or lifestyle choices. Collaborate with brands for sponsored content, affiliate partnerships, or product endorsements. Grow a loyal following and monetize your influence through brand collaborations, advertising, or merchandise sales.

Read Also: How to make money on your Instagram account by becoming an Influencer

58. Health and wellness products sales:

Start a business that sells health and wellness products, such as dietary supplements, organic foods, fitness accessories, or natural skincare products. Source products from reputable suppliers, ensure quality and authenticity, and cater to the growing demand for health-conscious products. Create an online store or partner with existing retail outlets to reach a wider customer base.

59. Online Dating Platform Development:

Begin a business that specializes in the development and operation of an online dating platform. Create a user-friendly website or mobile application that facilitates connections, interactions, and potential romantic partnerships. Emphasize security, privacy, and user experience enhancement by incorporating features like matching algorithms, messaging systems, and customizable profiles. Generate revenue through subscriptions, premium features, or partnerships with advertisers.

60. Online Job Board or Recruitment Services:

Start an online job board or recruitment service connecting job seekers with employers. Develop a platform where companies can post job vacancies and individuals can upload resumes and search for employment opportunities. Provide supplementary services such as resume writing, interview coaching, or career counseling. Cultivate partnerships with employers, offer a user-friendly interface, and leverage technology to match qualified candidates with suitable job openings.

61. Air Conditioning and Refrigeration Services:

Deliver air conditioning and refrigeration services to residential, commercial, and industrial clients. Offer installation, repair, maintenance, and servicing of air conditioning and refrigeration systems. Employ skilled technicians, stay updated on the latest technology and industry standards, and prioritize customer satisfaction. Forge relationships with suppliers, provide competitive pricing, and establish a reputation for dependable and efficient cooling solutions.

62. Digital Marketing Consultancy:

Establish a digital marketing consultancy business that assists companies in enhancing their online presence and marketing strategies. Provide services such as search engine optimization (SEO), social media marketing, content marketing, email marketing, and pay-per-click (PPC) advertising. Tailor solutions to clients’ goals and target markets. Remain updated on digital marketing trends, analyze data, and deliver measurable results to clients.

63. Rental Services for Tools and Equipment:

Launch a rental business that offers short-term tool and equipment rentals to individuals, contractors, and businesses. Provide a wide array of tools and equipment, including construction tools, gardening equipment, power tools, and party supplies. Ensure regular maintenance, proper storage, and adherence to safety standards for all rented items. Offer flexible rental terms, competitive pricing, and convenient pickup or delivery options.

64. Social Media Management and Marketing:

Provide social media management and marketing services to businesses aiming to enhance their online presence and engage with their target audience. Develop and execute social media strategies, create compelling content, manage social media accounts, and monitor analytics to measure performance. Assist businesses in building brand awareness, increasing customer engagement, and driving traffic to their websites or physical stores.

Read More: How to make money on your Instagram account by becoming an Influencer

65. Painting and House Renovation:

Establish a business that offers painting and house renovation services to residential and commercial clients. Provide interior and exterior painting, wallpaper installation, surface preparation, and restoration services. Employ skilled painters, utilize high-quality materials, and prioritize attention to detail. Expand services to include home renovation projects such as remodeling, flooring installation, or kitchen and bathroom renovations.

READ ALSO: Interior Design Business in Nigeria: A Complete Guide

How to Start a Small Scale Business in Nigeria

An idea supported by market research
A business plan
Funding and a bank account
Business structure (e.g., corporation, LLC)
Doing business as (DBA) name
Business Location
Licenses and permits
Insurance policies

To know each step in detail visit this post

Remember, each business requires thorough planning, market research, and appropriate licensing and permits. Success depends on factors like location, competition, marketing, and providing excellent customer service.

And that’s all about starting a Small Scale Business in Nigeria

Do you have any questions or contributions , please leave them in the comment section below 👇

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I am Eghosa Kester Igbinigie, the owner of StartBizEasy.com and Richnuggets.com. As a business enthusiast, writer, and speaker, I hold a degree in Business Administration (BSc) and own several successful businesses

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65 Most Profitable Small Scale Business in Nigeria
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How to Start a Small Scale Business in Nigeria
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50 Best Small Scale Business ideas in Nigeria
1. SHARE. Do you want to start a business in Nigeria with low capital? If YES, here are 50 best small scale business ideas & investment opportunities in Nigeria. Starting a business isn't a luxury but a necessity for anyone whose aim in life is to make good money and become a millionaire fast in Nigeria. This is one of the reasons why you ...
63+ Lucrative Small-Scale Business Ideas You Can Start In Nigeria Or
6). Laundry Service: Another lucrative small-scale business in Nigeria, Africa or anywhere around the world that almost anyone can venture into is the laundry business. This is a business that requires little technical skills or business strategies to succeed.
How To Write A Business Plan In Nigeria (Free Samples And Templates
This post contains a long list of free sample business plan templates that will give you the easy start you really need to write your own business plan. 1. Catering Business Plan. If you love to cook and are thinking about starting a business, combine the two and start a small catering business.
(Pdf) Small and Medium Scale Enterprises in Nigeria: the Problems and
Although small business activities had existed since the period of independence in Nigeria, however, conscious effort on small and medium scale enterprise as instrument of economic and national development started in 1970-1979 when Nigeria adopted the policy of indigenization through its national development plan programme.
37 Most Lucrative Small Business Ideas in Nigeria (2023)
Snail Farming. Snail farming is a lucrative small-scale business with a high demand for snails in Nigeria. Snails are consumed in large quantities, with the country alone consuming about 7.5 million kilograms of snails annually. Starting this business is relatively easy and requires minimal investment.
50 SMALL SCALE BUSINESS IDEAS IN NIGERIA
All you need is capital, a shop space, at least one deep freezer and then stocks such as fish, chicken, turkey, gizzard etc. 50 SMALL SCALE BUSINESS IDEAS IN NIGERIA AND STRATEGIES TO START IT. 8. Poultry farming. This business will always be in demand all year round, chicken are bred for their meat and eggs.
How to Successfully Start a Small Scale Business in Nigeria
Register Your Business. All you need to do is register your business. This is a process that can be a little daunting, but it's important to make sure all your paperwork is in order. You don't want any surprises down the road. Once you've registered your business, you need to create a business plan.
35+ Lucrative Small-Scale Manufacturing Business Ideas In Nigeria Or
9). Pure Water Production Business: Pure water has been classified as one of the most lucrative small-scale business ideas in Nigeria. Sales of sachet and bottled water are a signature business in Nigeria and neighbouring countries. Thousands of people are in a job, thanks to this business.
How to Write A Business Plan in Nigeria (Template for Nigerian
How to Write A Business Plan (Template for Nigerian Businesses) Know the purpose of the plan. Draft an executive summary. Describe your company. Do a thorough research. Competitive analysis. Take note of actual and estimated figures. Service or product plan. Outline management and organisation.
Basics of Good Business Plan for Small-Scale Agribusiness Investors in
This chapter provides a synthesis of planning small-scale entrepreneurial skills to guide the current and prospective micro investors to harness wide ranges of agribusiness value chains in Nigeria. This initiative considered alternatives in business strategic options to harness the potentials therein, which involve production, distribution, processing of agricultural products and services ...
100 Small Scale Business Ideas in Nigeria
To make it easier for you, we have analyzed 100 hot small scale businesses guaranteed to bring you huge profit in Nigeria. Quail Bird Farming. Catering Services (Indoor and Outdoor) Mobile food Vending. Computer Training Centre. Computer Repair and Accessories Sales. Mobile Phone Sales and Repairs. Rental Services. Food Processing.
How to start a small scale business in Nigeria
The only kind of small scale business 20k can start in Nigeria are businesses which are service-oriented and mostly done at home or under an already established shop. Businesses like cake baking, Laundry, car wash e.t.c. The above business can be operated with working capital of 20k but it will be very limited due to how slim the capital is.
Starting a Small Scale Business in Nigeria
The greatest challenge is getting a very good business idea. Examples of small business: Show room (viewing centers) Rental services. Outdoor catering. Sales of phones/accessories. Quail bird farming. Buying and selling - buying crops that are in season and selling off when they are cut of season e.g. soybeans, palm oil, dried plantain chips etc.
How to Write a Business Plan in Nigeria
A business plan would contain everything a reader may want to know about your business, starting from the title page, the executive summary, the company description and to the appendix page. Our accounting and taxation consultants can fill tax returns for your business, project your capital expenditure budgets and compose other business ...
How to Start Dairy Farming in Nigeria: Business Plan, Breeds, Cost
The milk and other dairy products market are the most important factors in starting a dairy farm. Assuming you are referring to a small-scale dairy farm, the setup cost in Nigeria would be relatively low. For example, you would need to purchase a few cows, some fencing, and some basic equipment.
Top 12 Small-scale Business Ideas in Nigeria (2023)
4. Event planning. Event planning is a great business opportunity in Nigeria. There is a high demand for event planning services, as people are increasingly looking for professional help to plan their events. This makes event planning a lucrative business, as there is a large potential customer base.
How to Write a Business Plan in Nigeria
How to Write a Business Plan in Nigeria. How to Write a Business Plan in Nigeria - In a time and century when the government can do little or not much to help everyone in any country or engage in a massive social program for citizens, starting a business or being an entrepreneur seems to be the new path for most people. Small and medium scale enterprises are springing up daily, some don't ...
Starting A Small Scale Business in Nigeria
Starting a Small Scale Business in Nigeria - Free download as Word Doc (.doc / .docx), PDF File (.pdf), Text File (.txt) or read online for free. STARTING A SMALL SCALE BUSINESS IN NIGERIA
How to start a small-scale business in Nigeria
Starting a small business can provide a number of benefits, both personally and financially. By learning how to start a ... View All Result . How to start a small-scale business in Nigeria. by Confidence Chukwuemeka. December 14, 2022. in Uncategorized. 408 4. 0. 566. SHARES. 2.6k. VIEWS. Share on Facebook ...
How To Start A Successful Small Scale Business In Nigeria
3. Access To Funding: This is one major issue plaguing Nigerian businesses. Raising capital for business in Nigeria is not an easy task. In several pieces of research conducted, angel investment and venture capital were the two sources of funding selected as most important for companies' growth.
How to start a small scale business in Nigeria (The Ultimate Guide
Final Thoughts on Starting a small scale business in Nigeria. Starting a small scale business in Nigeria requires; Idea generation and market research, developing a solid business plan, meeting the legal requirements, location and infrastructure, setting up financial systems, building a strong team, securing funding, and marketing and branding.
Top 10 Small-Scale Business Ideas in Nigeria
9. Perfume store. Consider this if you want something to do easily from the comfort of your home with less than five thousand naira (N5,000). Although there are different wholesale packages depending on your budget and target market, D'fragrance Home 's business started with only 4,200 naira in 2020.
65 Most Profitable Small Scale Business in Nigeria
What is a Small Scale Business. 65 Most Profitable Small Scale Business in Nigeria. 1. Crop farming (vegetables, fruits, or grains): 2. Beauty spa or skincare services: 3. Laundry and dry cleaning: 4.

50 Best Small Scale Business ideas in Nigeria

Best Small Scale Business Opportunities in Nigeria

Call Card Business

Daycare Business

Dry Cleaning Business

Restaurant Business

Car Rental Business

Bakery Business

Hamper Business

Film Production Business

Graphics Design Business

Phone Repair Business

Gym Business

Wine Bar Business

Internet Radio Business

Transport Business

Jewelry Line Business

Mobile car wash Business

Party Rental Business

Pizza Delivery business

Nursing Home Business

Poultry farm Business

Cosmetics Business

Microfinance Business

Tailoring Business

Insurance Agency Business

Tomato Farming Business

Wood working Business

Agricultural Business

Fish farming Business

Organic farming Business

Shipping Company

Real estate Investment Business

Electronics Repair Business

Courier Service Business

Freelance Writing Business

Motherless Children’s Home Business

Arts and Crafts Business

Clothing Store

Chiropractic Business

Pest Control Business

Screen Printing Business

Gaming Business

Fabric Business

Auto-Repair Shop

Aquaponics Business

Funeral Home business

Pizza business

Solar panel repair business

Consignment Business

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How To Write A Business Plan In Nigeria (Free Samples And Templates)

1. Catering Business Plan

2. Event Planning Business Plan

3. Hair & Beauty Salon Business Plan

4. Day Care & Child Care Business Plan

5. Driving School Business Plan

6. Agriculture Farm Business Plan

7. Feed and Farm Supply Business Plan

8. Fitness Gym Business Plan

9.Pharmacy Business Plan

10. Fast Food Restaurant Business Plan

11. Bakery Business Plan

12. Internet Cafe Business Plan

13. Clothing Boutique Retail Business Plan

14. Automotive Car Repair Business Plan

15. Car Wash Business Plan

Other business plan samples and templates include;

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