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Wednesday, August 31, 2011

5 Innovative Business Ideas for Nigerian Investors

There are so many business ideas that Nigerian Entrepreneurs can embark on but this small list is my contribution and I hope it will be useful to venture seeking entrepreneurs. Some small business ideas for Nigerian include;

1. Leasing

The business of leasing involves two parties. The lessee and the lessor with the former being the person who acquires an asset from its owner (the lessor) for an agreed period of time over which payment in made installmentally. There are many assets that can be leased from small items such as Electronics and Electircal Gadgets including; laptops, mobile phones, fridges and furniture to more expensive and larger items like motorcycles, tricycles, cars and even cranes. The advantage of leasing to small scale investors and entrepreneurs is that it provides a cheap means of acquiring assets without affecting cashflow and working capital. It is a cheap source of financing capital assets and also provides reasonable profit to the lessors who also have the option or repossessing assets in case of default in payments by the lessee.

2. Job search Services

Job search in Nigeria is increasingly taking on a commercial form. There is absolutely no known number of players in this field as practically so many people render various job search services such as CV writing, Job interview consulting, talent search, general recruitment, mobile vacancy notification (whether by sms, e-mail or web portal) and so on. A lot of companies these days prefer to outsource the entire recruitment process and this along with the enormously large Nigerian job market creates uncountable opportunities for enterprising individuals to set up businesses that can cater to the needs of companies to hire the best but most affordable hands and in turn ensure that suitably qualified job seekers are gainfully employed.

3. Hostels for University Undergraduates

It is a known fact that many of our Universities, even Polytechnics and Colleges of Education lack adequate housing facilities for their students. Many students have to go out into nearby towns and villages to rent apartments which are often expensive and not condusive for many of them. Constructing a block of Hostels for students in these so called nearby villages and towns will not only save students money but will also provide a more descent accommodation for them and to the investor/entrepreneur, good profit.

4. Travel and Tour Agency

These days Nigerians from all walks of life from all over the world are traveling to many destinations in and around Nigeria especially Lagos and Abuja. A travel agency that can offer travelers value for money, save them time and heart aches and provide them with lots of yummy deals will be a most lucrative venture. Guess what, a travel agency requires little capital outlay but proper certification and accreditation with IATA and other regulatory agencies is very compulsory.

5. Franchise Supermarkets

Franchise supermarkets and mega stores like Shoprite, the Game and Walmart are also business ideas that are worth pursuing. The Nigerian society is a consumer based one with practically almost every major consumable either being imported or being produced locally under license of the trademark owner. Nokia, Etel and Slot know about these concept and although they are not franchises or have franchise arrangements in place are however making the most of situation begging for investors.