Businesses to Look out for in Nigeria in 2019

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I came across this quote on a
friend’s Black Berry PM and it has stayed with me. “Nigeria is the best kept secret in the world…I don’t really know of
any place where you can make as much money as you make in Nigeria
“. I
had to quickly ask her who the author of the quote was and she said it was a
quote by, Aliko Dangote, GCON.

Without a doubt you and I know that
the above statement is so true and very profound. I believe that we live in a
nation where the level of money making opportunities available to the entire
citizen is second to non-anywhere in the world. The big question is, why are
people not maximizing this limitless money making potential that is at their
disposal? Well, let me just assume that one of the reasons is, simply because
they don’t know how to find the right business to engage in. Here are some
businesses you can consider, that might do well in 2019.

1) Printing Business: Anytime election is around the corner, that is an opportune time for those who are in the printing business or who want to go into printing business. The boom of printing business started late last year before the primary election of various political parties, and the good thing about this boom is that it doesn’t stop immediately after the election, but continues because those who will emerge as winners will want to print posters, fliers, banners etc in order to thank those who have elected them into office. When I speak of printing, it also involves those who sell papers, ink and other printing raw materials. So if you are thinking in the line of printing business or selling papers, you may be thinking in the right direction right now.

2) Export Business/Agent: The federal government of Nigeria some few years ago invested a lot in agriculture, and this year most of the farm produce from the farmers will be ready for harvest. Some will be consumed locally and some will have to be shipped abroad for business purposes. Nigeria, having been a consumer nation over the years, have very few number of clearing agents who really understand the export business. So understanding and getting the right licensing for export business and strategically positioning yourself to where those who need this services can locate you, will be a very big business intelligent move to make in 2019.

3) Accounting Business: With the present economic challenge we are in Nigeria as a result of the inconsistent oil price which is the major source of revenue, this is also having an effect on most large corporations whose major revenue is generated from oil. The next place the banks are focusing on to build more customer base is the SMEs. According to a report by SMEDAN, there are over 17 million MSMEs in Nigeria but one of the major challenges why the banks hardly fund SMEs is simply because their financial books are not in order which makes the business not bankable. But due to the current economic challenge, that has put the banks in a position whereby they have no option but to grow the SMEs by funding them. Having your financial books is now a necessity because it is now your visa to easy funding opportunity that will be available to SMEs. As a result of most SME operators not being good with accounting, it’s now time for those who are accountants or people who are into the business of accounting software to roll up their sleeves and get to work and by so doing achieve their financial goals.

4) Rental Business: 2019 is a year whereby political campaign will definitely hold in the entire 36 states including the federal capital territory. It is very possible that almost at every venue of this campaign, the campaigners would need chairs, canopies, sound systems etc, to make their campaign a successful one. So if you are into any form of the rental business in which your service will be required for the campaign or you are considering going into such business, I think now is a good time to go into the business. 

5) Interior Designer: After the elections in 2019, a lot of offices will be occupied by new political leaders. And you will agree with me that everyone has an idea when it comes to what their home or offices should look like? So if you know what looks good and you can create amazing interior designs, you may want to consider becoming an interior designer. You don’t have to have a degree and when you can show a portfolio so that people know what you are capable of, word about your abilities can spread through the community so that more people rely on you when they want to redecorate their home or office. 2019 may be the year where you say goodbye to your boring 9 to 5 job where someone else is calling the shots. Particularly if you’ve had this dream of launching out with your own business but the fear of failing has been keeping you back. Now is your time to take that leap of faith.

6) Social Media Marketing: In today’s world, you are almost not in business if your business is not online. And if your business is online but you don’t promote it online, it is almost as not having a business online. If people are talking about your company in blogs, social networks and online forums, you need a social media marketing plan. If people are not talking about your company online, and you want them to, you’ll need a social media marketing plan, too. The politicians will need social media marketing plan to campaign in 2019. Are you ready with your social media marketing business sense to guide businesses and politicians to the most beneficial places to meet your customers and enter into their conversations? If you do, then 2019 is your year of financial abundance if you do your homework well. 

7) Website Sales: If you are online you can see how many sales are generated by websites. You can launch your own website and sell a product that you’ve created or sell a product that you purchase in wholesale from another company. Selling online today is the equivalent of a modern day mail order venture. Millions of Nigerians are now shoppers online. Nigerians confidence in buying goods online is increasing rapidly by the day. There is a global market for your products. Get involved with products you love and make your small business interesting and fun. If you are a musician don’t only sing, create a site and sell music books or tools to fix guitars, piano or drum sets. You can even start a business building websites for the almost 88% of small business owners that don’t currently have them. Investigate the website hosting services, learn the tools, build one of your own to promote your business and start selling to local entrepreneurs.

8) Video Editing: If you’ve been very active on Facebook and Twitter, and Instagram, you can tell that the current trending post are now videos. Individuals and company’s posts now come in form of personal videos or advert videos. So the demand for video editors to help businesses and individuals edit video is now on higher demand. If you are a video editor or you are intending to be one, you have to take that step now, because now is your time.

I hope this few business insights I
have dropped, inspires someone to go start something.

Gracious.

by Emmanuel Odoemelam

The post Businesses to Look out for in Nigeria in 2019 appeared first on SME Digest!.

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