Nigeria is blessed with an abundance of resources and huge population. The country has fair weather that supports agriculture, small cottage industries and open market sales.
For unemployed youths, retirees, graduates and school leavers there are an abundant of business ideas to encourage startup business ventures. The small, medium enterprises make up about 45% of business ventures contributing a large sum to Nigeria’s GDP.
There are many small business ventures to explore such as milk processing, herbal soap manufacture and face wash making. Other business ideas include toothpaste manufacture, restaurant business, tailoring and food processing.
The number of business opportunities are to numerous to mention. Graduates instead of going from one location to the other looking for jobs could fill the gap by starting a small venture.
The startup cost depends on the size of the enterprise, equipment, location and staff strength. There are many ways to source funding such as crowdfunding, soft loans from cooperatives, microfinance loans or thrift.
Other funding sources are through collaborative effort, partnership, acquaintances, family and friends.
The person could learn a trade or use the knowledge acquired from the university and try consultancy business. Startup for such a venture only requires a dedicated phone line and knowledge of the subject mater.
In this difficult time of recession we encourage everyone to think outside the box. Have you considered starting an online business while you actively search for a job?
That online venture could turn into a huge industry and you become an employer of labor. Starting an online venture is relatively easy because all you need is internet access and loads of determination.
Don’t let funding hamper your progress because there are many ventures you can start with very little capital.
If you have difficulty finding small business ideas check out these websites