Hello friends,

Have you ever asked yourself these questions?
What are the best small scale business ideas in Nigeria? What is the best business to start in a harsh environment like Nigeria? What are the best small business opportunities for Nigerians (Investment Opportunities) living in Diaspora or oversea?
Think about it!

Are you an entrepreneur or investor looking for where to invest your money with good returns? Do you want to invest in Nigeria but you don’t know where to invest your money?? Do you want to know where to find fast growing business ideas in Nigeria? Then I advice you read on because this article was written specially for you.

For quite sometime now, my email box has been filled with request from fellow Nigerian entrepreneurs asking for the fastest growing business opportunities in Nigeria which they can invest in. Before I proceed with any detailed explanation, I want to state clearly that there are untapped small scale business opportunities in every industry both in Nigeria and all over the world; you just need to dig deeper to find such niches.

Now from my personal experience and interaction with Nigerians both home and abroad, I came to observe that many people are interested in investing in Nigeria by setting up their own companies but fear seems to hold them back. I have met individuals who have been living and working abroad for over ten years; they have made a lot of money over there.

But rather than come back to Nigeria and start a business, taking advantage of the currency exchange difference between the Naira and Dollar, Euro or Pounds; they would rather stay abroad because they are afraid of the uncertainty of doing business in Nigeria.

Over the years of doing business, I have met a lot of Nigerians and some foreigners with a lot of cash; but they just don’t know where to invest their money. Some even tried to invest in the stock market and they lost their money, not because the stock market is bad but because they lack the needed experience and knowledge to invest in the stock market. Well, I still invest in the stock market regardless of its ups and downs; because I have the needed technical know-how.

Well, if you are one of such individuals that is scared of coming back to Nigeria to establish a company, the points below will help quell that fear.

6 Reasons Why You Should Start a Business in Nigeria Today;

1. Now Nigeria still remains a hub for most entrepreneurs and investors despite economic challenges. In fact, Nigeria is now the largest economy in Africa, the number one destination for Foreign Direct Investment in Africa and one of the fastest growing economies in the world. That’s why South African and Chinese companies are scrambling to invest in Nigeria.

Tiger brand acquired Aliko Dangote’s stake in Dangote Flour. MTN South Africa mopped up shares of MTN Nigeria and Wal-Mart has moved heavily into Nigeria through its subsidiary, Shop Rite. GlaxoSmithKline U.K has increased its stake in GlaxoSmithKline Nigeria PLC. General Electric is partnering with power generation companies in Nigeria to boost the nation’s power supply. Chinese companies are partnering with Nigerian companies to setup manufacturing plants right here in Nigeria. An example of such plant is Innoson Vehicle Manufacturing company in Nnewi. Nissan has also established an auto manufacturing plant in Nigeria.

The list goes on and on but the point I want to stress is that this is the right time to invest in Nigeria. Please if you are in doubt of any of the information listed above, Google it. Just do a search.

2. There are over 150 million people resident in Nigeria and the population in Nigeria is been predicted to overtake that of United States by 2050. Now what this means in essence is that the market is big enough to absorb any product, provided enough marketing and awareness is created. Another positive impact of this population statistics is that there is cheap labour. One of the reasons China grew to become an industrial hub is because of her large population, which in turn brought down the cost of labour.

3. Nigeria is fast developing and there is a huge need for innovative products. If you are resident in Nigeria, kindly reflect on the position of Nigeria ten years back and compare it with her present state; you will agree with me that there is a huge change.
Economically, technologically, etc.; Nigeria is growing, whether you admit it or not won’t change the fact. That is why entrepreneurs and institutional investors from countries like South Africa, China, Lebanon, Brazil, India, etc are scrambling to invest in Nigeria because they see the potential that we citizens don’t see.

4. Nigeria is currently riddled with problems and the government is currently battling to tackle these problems. I am talking about challenges such as falling oil prices, security, infrastructural decay, unemployment, power failure, corruption, fall in education standard, accommodation, etc. The average minds believe these problems can never be resolved and if it is to be resolved, it should be done by the government.
However, people with entrepreneurial mindset know that these problems are opportunities; and only those who act will turn these opportunities into profitable businesses.

5. The government is working to improve the economic condition of the country, by implementing several policies aimed at encouraging local content production and small scale enterprises. If you are well positioned to take advantages of such opportunities, you will make something from it.

6. The eye of most entrepreneurs and investors doing business in Nigeria is usually on Lagos, Abuja, and Port Harcourt. However, tremendous opportunities are laying waste in other states cities such as Owerri, Aba, Onitsha, Nnewi, Kano, Akwa Ibom, Ogun, Ibadan, Enugu, etc.
Now to be honest with you, I don’t take heed to what the World bank and IMF statistics say about Nigeria. I am equally not moved by the politically inclined propaganda promoted on the media about Nigeria. I am an entrepreneur on ground, and I have personally assessed the situation on ground and charted out ways to harness it.

I would rather work with my own hard facts and proposed solutions than work with the media statistics. I think I have said enough. So without wasting your time, below are some small scale business ideas and opportunities in Nigeria you can invest in today.

Six Criteria You Must Meet Before Investing in Nigeria

Now for those who are eager to start a business or invest in Nigeria, there are a few criteria you must meet; so as to ensure you are well positioned for success.

1. You must be prepared to be on ground in Nigeria

Yes, I have had so many people call me to talk to me about the possibilities of starting a business in Nigeria while running it from overseas. Now the honest truth is that you can successfully operate a business in Nigeria without being physically present; but not in the start-up phase of the business.

You just don’t start a new business, turn it over to someone and travel out of the country; hoping that the person you handed your business over to will do a good job. This is one of the mistakes most Nigerians in Diaspora make.
If you are really serious about establishing a business in Nigeria, then you must be willing to be on ground to run the business for at least one year. Secondly, forget about doing business with your family members or close friends; it usually doesn't end well. Rather, I will advice you seek professional help, incorporate your company and make sure your back is covered legally.

2. You must have knowledge of the business

To succeed as an entrepreneur in Nigeria, you must have skill and competence. Competence is a product of knowledge mixed with experience while skill is something you can develop over time through training. Please don’t start a business blindly simply because a family member or friend recommended such a business, the result of such a venture is usually devastating. Invest time first to learn everything you can about a business before you invest your money.

3. You must have a short or long term plan to employ people

To keep cost low, you may choose to start as a self employed entrepreneur operating from home, a shop or an office. There is nothing wrong with starting out this way, after all; I started out as a self employed entrepreneur working from home. But as you grow in business, you will need to bring in competent hands. However, you shouldn't wait till then before you plan towards it, start now.

4. You must have capital

There is no much explanation to do here. To successfully set-up a business in Nigeria, you must have capital. This is needed to get things done. Now when I say capital, I want to emphasize that it doesn't have to be a million dollars. You can start with the little you have even if it is just enough money to get a laptop and an internet connection.

5. You must make sure your proposed business has an evergreen demand

Another mistake you must avoid is starting a business whose trend is dying. Take for instance a cyber café business, this business is dying because the trend is shifting towards mobile connectivity. Why go to a cyber café to access the internet when you can do it more cheaply at home?

6. You must always remember that success is not an overnight flight

Yea, this one is especially for those who are looking for a business to start that will provide a steady cash flow or a return of 30% – 50% in approximately one year. The truth is that it doesn't work that way. Success can never be achieved or attained by sudden flight; it is a product of consistent, unyielding effort. So stop looking for the best business to start, instead; look for the best business you are willing to stick to regardless of the surrounding circumstances.


For Your Success

Written and submitted by Sunday I. E.

Source; http://olisasegun..com.ng/2016/01/six-criteria-you-must-meet-before.html

FP TINZ... Lalasticlala

Thanks for sharing ...


But you forgot the most important part..


Bribe!!!! You must bribe those in power or else you will fail.


A man yesterday drove into a filling station in port harcourt to buy fuel and the fuel attendant told him it was 130 a liter.. The man started screaming and threatening to call DPR.. The attendant pointed to a sign on the wall that had the DPR number and told him to "See their number there call".

That's how you know a business that has covered their bases.

G

a

okay now

Invest where ??



Nigeria?



Where 1 dollar is 300naiira



I'm coming

U didn't add having God or juju by your side?

NICE WRITE UP..SAME TALE OF OLD MEN

also remember that people are waiting to frustrate your business

.

Let me just waste this space

A must invest.

Nice points op..

...............

Comma

Kindly sell for me

Nice @op how about having a business idea and lacking the appropriate skill to excute it, meanwhile you have strategies that will make such idea a success, how do you source fore genuine partners with skill, keep a relationship with them and build a team that will deliver. Considering the fact that time is ticking and you cannot learn everything at once.

You must know that on the rankings of the ease of doing business, Nigeria is ranked 135 out of 190 countries.

Running a business in Nigeria is like fighting a david-goliath battle. All the odds are stacked against you. But perseverance and a good understanding of the business climate is the only way you can succeed.

-Lord

T

Well and good

Excellent write up.
One akara for the OP

You must be touf and smart

LordAdam:
You must be know that on the rankings of the ease of doing business, Nigeria is ranked 135 out of 190 countries.

Running a business in Nigeria is like fighting a david-goliath battle. All the odds are stacked against you. But perseverance and a good understanding of the business climate is the only way you can succeed.

-Lord

True

Lovely piece

There are over 150 million people resident in Nigeria and the population in Nigeria is been predicted to overtake that of United States by 2050

That will never happen with the influx of South America illegal immigrants and the way Hispanic dey born Pikins for America.

May God deliver all the spacebookers

Investing in Nigeria....... Your investment go miss o