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Hardcopy and Soft copies available with comprehensive product formulations of production of over 100 products and sources of raw materials etc

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SON - Standard Organization of Nigeria

It was established by the enabling Act No 56 of 1971 as amended. The agency is the regulatory body legally responsible for the standard of Nigeria products - domestic and industrial. It is also responsible for regulating the standards of such products intended for use in Nigeria but made in other countries.

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Industries are springing up daily and the demand for these chemicals is always there. Our population is growing very fast, so production will always go on. The profit margin on the products is an average of 45%, doing that with the same fund three times in a year makes it very profitable.

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INTRODUCTION

At present, there are many aspiring entrepreneurs, who are eager to start their own small-scale business. Chemical businesses, apart from being profitable have huge export potential. 


Below are a few steps for getting started with the small-scale chemical Business:

1. Prepare a business plan

A business plan includes the framework of the chemical business’s goals, vision, and mission, which is based on industry information and market analysis.

2. Be wary of the competition

It is crucial to know about the regional competitors before the commencement of the chemical business. The strengths and weaknesses of the competitors must be understood in order to know how to have an edge of them.

3. Get expert opinion

Chemical businesses involve high risks, which can be mitigated though industrial insights from experienced entrepreneurs, who wouldn’t mind guiding start-up entrepreneurs, provided they are not their direct competitors.

4. Choose the route

There are two routes which aspiring entrepreneurs can take up – launch a new business or buy an existing business. When it comes to a startup, it enables an individual to create something based on his/her leadership style and goals. However, financing the startup would be difficult because of its risky nature. Whereas, a business that has been bought is lucrative has lesser uncertainty. When it comes to financing, it is easier to get investments and loans.

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The products of the chemical industry can be divided into three categories namely:

The basic chemicals, Specialty chemicals and consumer chemicals. The basic chemicals are produced in huge quantities (millions of tons). It include chemicals from oil, polymers and basic inorganic.
Specialty chemicals are produced in modest quantities but with very high value. It include paints, crop protection and inks. Last but not least is consumer chemicals which is sold directly to the public. It include detergents, soaps and other toiletries.

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From Consumption > Production