I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

Quit only when you have something better

Abeg commot for dat work jare stagnation no good oo. Chart your own course bro!

Don't, it's could be to test u capacity den later you will be double promoted

I will advice u to quit but before u quit,pls go and read this book.

By Robert Kiyosaki.

Before u quit your job.

No no, you can leave and find a new job.... don't try business yet.

Starting a business is a big deal especially when you have no experience, your reason for starting is not because you want to solve a problem, you might end up blowing the 1 million naira and find yourself starting life all over again

Please think it through thoroughly..

People talk about business as if it is easy. When their expectation of returns are not meant, they fold up and blame it on government policies...

For this Tinubu Economy? NO!

Just weight your options rationally.

Texazz1:
Quit only when you have something better

This advice no complete

H

Biko, come and use the 100k to take me out on an expensive date.

It’s better to spend the money on me than waste it on business you have no idea about. Its not as if the economy is friendly

Biko, come and lavish it on me!!!!

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

Bra try wire wire or Oshole, forget business for now, learn from Ebola, Dapo Abiodun, Hush Pup, Kashamu, Agbele and co, and thank me later

Business studies come in

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.


Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

So ma Salon wan bring u above 100k Monthly or Bike
Only if na Inside Mall u situating it to, and u own ur Garage for Okada, if not u go worse pass person wey no get CERTIFICATE, like Thrifty man u become "o ma talaka, o ma..."

Like a man once said, 'mind your business'.

Please start your business, if the other one doesn't give room for growth.

You can as well start it without quiting your current job.

Take a break of you can, start a few with what you can and get someone to manage it while also keeping eye on it.

Don't please.

Use your job as a source of steady income for your business. Remember, business might not boom everyday. You will fall back to your salary in the days when business is not paying much.

Ibibioman:
I've been working in an Asian company since 2017, then my salary was 70k, but it fluctuates up and down currently I've been at 100k for the past 3 years or so.

Recently I was transferred to a village with no electricity and the salary remains the same.

I'm an engineering graduate from one of the top federal Universities in the south west.

Nevertheless, I've come to a stage where I'm considering business, given my set-aside capital of about 1million naira, and because of the Sunday to Sunday work schedule, I am considering quitting, inorder to start either a barbing shop, POS, or bike business .

Do you think it is a good idea?

A welcome idea, why not start gradually before you eventually pull out of the current job

As someone who loves, is passionate and skilled at doing business, I have only one advice to give you.

Don't do that right now!!!!!!!

Only one that seems a bit promising there is POS, but that depends on the specific area and foot traffic therein you wanna capture. Bike may not give you as much profits now due to high fuel cost (I say may cos location differences matter eg here in Ibadan transport fares haven't increased much despite the hike in price of fuel, some increased by 50 naira, most stayed the same). Barbershop, it will take time to have steady customers, plus you now have to pay rent for two places, raising your cost with no guarantee of commensurate inflow to support it in the first one year.

1m naira is nothing! Only exception to this is if your business idea is somewhere in the food value chain, and I'm not talking farming (cos 1m is nothing for farming right now either).

I suggest to apply for a better job that has a monthly pay of 200k and above based on your experience working for an asian company and because you are an engineer. POS is risky, u can be robbed. Barbing can't earn you up to 100k per month. If you charge 500 per hair cut and have an average of 10 customers per day. That's 5,000 naira per day and 150,000 naira per month. Remember, you would buy fuel, equipment and pay for rent of the shop so profit may not be up to 70k sef per month. If you work as a civil servant, you may have more time to do some other business.

You are an adult, you should be able to make decisions for yourself

Why not run the bussiness and your work simultaneously, if possible.

Na body go tell you.

With a million naira, slow down on the business idea.

The Nigerian business atmosphere is currently very cruel on start-ups and existing SMEs. Irrespective of your location and how viable the option might seem, burying a million naira into a startup right now, is a mistake you may not recover from.

Keep your job. Save a bit more while you watch where the country is headed for the next 5 to 6 months. You can revisit the thought afterwards.

Just so you know, a million naira now is roughly 1,250 dollars. It's not exactly as much money as you think it is, given the inflationary percentage out there.