gud dayy house, I need an urgent advice. I have been relieved of my job in a bank just last week but my savings plus my entitlement sums to 1.5m. I served as a marketer for yrs. I have an ICAN cerificate. Am married with 2 kids. My wife does petty biz of baking. We live in Abuja. It came somehow as a shock but i have put it behind me. Should i start a busines? If yes i have no business idea. Pls house, advice me.

Is there anything your passionate about maybe a hobby, u can brand it and use it as a biz, while still looking for another job, inetior decor is big in abj

With 1.5million, you can go into business and make that more than 1-2 or more within a year. But I won't advice you to go into business if you don't know your customers i.e the person you will sell the product to.

So my advice is this
1.) If you must go into business( I mean buying and selling), you can either learn the trade(which takes about 3-6 months depending on your ability) or you can also give(invest) the money to a trader and reach agreement with the trader on how much he should give you back. Actually, it will take about 1-2 month for you to get the return of investment.

(If you need help on this, I can help you contact a reliable person but you have to decide for yourself)

2.) The second option you have is open a small business center like printing press, phone call center, road transportation business,

3.) Since you are a banker, you can also start a tutorial center esp to university students on the subject/secret of becoming a successful bank.

home-bucks:
gud dayy house, I need an urgent advice. I have been relieved of my job in a bank just last week but my savings plus my entitlement sums to 1.5m. I served as a marketer for yrs. I have an ICAN cerificate. Am married with 2 kids. My wife does petty biz of baking. We live in Abuja. It came somehow as a shock but i have put it behind me. Should i start a busines? If yes i have no business idea. Pls house, advice me.

If i understand you very well and from my pov, you've been serving as a marketer and you have an ICAN certificate which you've never used in obtaining employment nor practiced with? If this is the case, then I will advice you to begin working on a business that relies on both your experience and your professional qualification. And to start with, numerous ideas have been occurring to me and I think you can do virtually any business you have passion for.

As you know, any business would require to make sales that exceeds costs(both economic and production) and you have all the dots with you...all you need to do is to connect them. At the same time, you are conscious about your dependants(wife and kids), that shows that you are NOT the 'ideal' risk taker that can venture into entrepreneurship without the adequate knowledge and a well articulated business plan to guide you.So another advice is that you look into your wife's business and see how you can expand her operation sufficiently since you are sure she can't possibly be interested in anything else but the growth of the business she is very familiar with.

Lastly, I can advice you to begin to take advantage of online businesses. You can make thousands just sitting on your computer at home marketing the right products and coordinating your sales with the knowledge you wield. My brother, note very well that I explicitly mean services and not physical goods/products. But if you need further advice on how to conceptualize an online business for a particular biz of your choice, u can consult me for free advice in exchange for your services too. I am an entrepreneur and a CFA student and i have a good experience in managing online businesses to an extent.

So you will simply start small, grow fast and become Big in no time!!!

@ poster my simple advice for you is just this! * Do not put all your eggs in a basket, you can buy a concrete mixer and give it out for rentage to building contractors ,0ne should be arround #220,000-#250,000 but you need to be sure of the availability of the users. You can actually make #10,000-#15,000 on a daily bases for the agreed period with the user. And you can take your time, to think of another good way of investing the remaining money.

You should go and share it to the needy.

U can use part of the money to open a mini car wash business. I know the dividend is much especially in Abuja. Consider opening it @ satellite towns like lugbe, or even kubwa or Karu. there are lots of bad roads there with high population. good luck

start up a very nice bar, package it well, and u will make it

Meritgoal: @ poster my simple advice for you is just this! * Do not put all your eggs in a basket, you can buy a concrete mixer and give it out for rentage to building contractors ,0ne should be arround #220,000-#250,000 but you need to be sure of the availability of the users. You can actually make #10,000-#15,000 on a daily bases for the agreed period with the user. And you can take your time, to think of another good way of investing the remaining money.

This proposal is classic! I have never thought about this before.

@homebuck, in all your planning, ensure you start from home. Any business that you can not start from your house with 1.5m will lead you to nowhere considering your dependants.

THIS IS ONE THING I HATE ABOUT PAID EMPLOYMENT AS COMPARED TO SELF EMPLOYMENT.NOTHING COMPARES TO THE JOB SECURITY THAT COMES WITH IT.

crusifis: start up a very nice bar, package it well, and u will make it

So u wnt boko haram 2 trowe bomb there. Tke a very cls look @ur enviromnt,or d neighbourin plc, u mst see wat services u might render 2pple,dat will bring u income.

hmmm. sacked by what

Dont touch one penny of that money until you have answered this simple question.

What do you love to do?

List out at least 3 answers and try and arrange them in order of 1. How much you love it 2. Viability 3. Practicability and 4. profitability. Believe me when I say 1.5m bucks is a huge capital if you know what to do. Please, Please, Please, dont jump into any white elephant dream or Yahoo-like business because someone tells you, you are going to make 50 million in one week oh! You will seriously regret it.

Scam ooooooo

sir, der r so many bznes u can do if u r ready n willing but u must first 4gt pride. 1.5m in abuja is nothing, might not even b enof to rent a shop/office n start d bzness/trading. transportation of food materials is a good business n dat amount is enof to start, selling cement is also good and opening a cyber cafe too dey tight but look closely and intently at ur area n c what its lackin dat pple need but above all, ask God. i can use 350-400k to setup a good cafe for ur wife n she will also sell baked stuff including kunu n sobo drink to entertain her customers . above all ask God for direction. all d best. u can get me on 08188202385,08023416369

@ O.P

Here are a list of things you can do with 1.5 million with guatranteed return with 150%interest with a short period.

1. Play Pool

2. Baba Ijebu

3. Invest in rechagre Card

4. Lotto


For more info. . .

Contact me on Okija.juju@gmail.com

Open up a Bar. You will be amazed with the amount of people that consume alcohol daily.

Identify which party rules in your area.
Then buy your way into a political office even if na LG councillor and you are on your way to mega millions since Nigerians don't ask much of their leaders.
[size=13pt]Just loot us silly and do no work and we will not only praise you but also give you religious and chieftaincy titles plus including bigger political offices opportunities to loot us even more.[/size]
Best of luck!

This the effect of cashless economy on bank employees. My advice to u is to ask urself of wht u can do nd wht u wil be hapi doing. Ensure u ar financial discipline nd invest wisely, start sth frm ur neigborhood. Gudluck

jaydacorsair: pure scam please no body should talk to this fool.

The guy is more than a scam. Is the moderator not seeing this? Why must they use this platform to defraud people?

As for the Poster: you already have a job. If your wife's petty business could bring any income while you had your paid job, then you have no alternative than to expand her business and add some creativity to it. Add assorted non-alcoholic drinks & wines, get tables & chairs, music and TV (LCD) sets + DSTV - a mini bar of some sort. Within a few months (with your presence) you will be smiling to the same bank that laid you off. This must work.

Try Online shares. It works very well for me.

If you are interested email me willy_ox@yahoo.com

OP, meritgold's advice makes a whole lot of sense after your feasibility studies.