The pros of owning a business, however small, outweigh the cons in every category. And even if you think you’re being pessimistic about it because, well, you’re left with less than you hoped in your bank account, there’s a lot of small businesses you can engage in. We are set to nudge you on—all that foot-dragging with reckless abandon means not planning for emergencies or your retirement. And you certainly do not want that. In this by Peter Osalor, here are 6 ways you can keep your wallet full with little start-up capital.
The small business can come from Manufacturing, Production, farming etc. In farming alone, there are lots of businesses you can start and over -come poverty.
Rice is by far one of the most popular staple foods among Nigerians, almost every family eats rice daily. According to CBN report 2016, Nigeria spends $2.4 billion on rice importation in 3 years. And the rice we import is said to be nothing less than 10 years old in storage. That means we spend billions buying rice that has since lost its nutritional value. Therefore, embark on rice farming and make your good money.
Everyone knows how “cashy” poultry farming is. Nigeria consumes chicken and eggs more than anything. Most of the chickens consumed in the country are imported. We have enough market for poultry business, but we are busy creating business and job for another country in the name of importation. According to Nairametrics, it cost Nigeria N 660 billion to import frozen chicken in 2015.
It’s only in the North that goat is reared in commercial quantity. I don’t know why we underrate farming investment in the south even though there are millions to be made in this business. Why would you choose to sell used shoes in Oshodi, Lagos and make few thousands of Naira yearly, than to engage in productive farm business and make millions of Naira? In the USA and Australia, farmers are among the richest people. Get involved in the professional goat rearing and make money for yourself. A full grown goat sells between N18, 000 to N40, 000.
Cart fish business is really hyping in Nigeria right now. Nigerians consume cat fish on daily bases in millions. The demand is so high that a single cat fish sells at N800 in open market and N1, 800 to N2, 500 in Restaurants. Another business you can start in Nigeria is Bakery business: Bakery business is very lucrative and yields money. It’s a business that thrive well with high population; the higher the consumption the higher the profit. Nigeria has the population and bread is one of the most consumed products by every home in Nigeria. You don’t have to start it big, start it small with the capital you have, and then manage it well, it will grow big.
Bakery business is very lucrative and yields money. It’s a business that thrive well with high population; the higher the consumption the higher the profit. Nigeria has the population and bread is one of the most consumed products by every home in Nigeria. You don’t have to start it big, start it small with the capital you have, and then manage it well, it will grow big.