The sectors below are where you can find the fastest growing small business opportunities and make cool money. These areas have high prospects for expansion in the future.
- Poultry and catfish farming: The catfish farming business hasn’t really reached its peak or full potentials. The major players in this business are regional players. What this means is that each major player of the catfish industry is focused only on a particular business terrain within the geographical region of the farm. So all you need is to look for a region with a growing demand that hasn’t been covered by regional players. For poultry farming, the ban imposed by the federal government of Nigeria with respect to the importation of live or frozen birds has helped to increase local demand. Snail farming and Grasscutter farming are other under-exploited money makers.
- Importation of wears: Good foot and body wear can be imported and great profit made. An entrepreneur can take hold of this opportunity and make money.
- Sewing of specialized uniforms: You can set up a small textile firm in sewing specialized uniforms. The demand for uniforms is on the increase in Nigeria from crèche to the labor market. I’d advise you carry out more research before venturing into this business.
- Inland water way transport: This niche of business is still untapped, I rarely see modern commercial boat or ferry service system in the country. Research more on this business before venturing into it.
- Haulage and logistics: Haulage and logistic is a very profitable business. Although risky, you can excel very well if you have a good strategic business management team on ground. Good management is the key to surviving in this business.
- Outsourced Bus Service: This business entails providing transportation services to firms and corporate entities. Some corporate organization can’t afford an in-house transportation system for their staff and executives, this is where you come in and offer your services.
Green Energy and Technology
The world has resorted to finding out newer ways to produce energy. This is where green energy comes in. Below are green energy business opportunities you can venture into as an entrepreneur.
- Waste recycling: You can venture into either bottle or Nylon recycling. You can also embark on a waste to a green (manure) project as Nigeria has a huge demand for organic and inorganic fertilizer.
- Alternative Power: An entrepreneur you can take advantage of providing alternative sources of energy like solar energy, wind energy, and bioenergy and make money from it.
- Waste management: Opportunities has popped up in the area of waste management, this is as result the need for environmental conservation. Lagos state, Imo state, and Cross river state are the states taking the lead in this business.
Information and communication Technology
- Cyber cafe: Owning a cyber café is a good business. The prospects are high, people always want to connect with others around the people on platforms like Facebook or come to apply for online Jobs. You can also offer financial services like deposit and withdrawals, you can do this by becoming a licensed agent.
- E-services: The world is going the e-way, people prefer purchasing things online. Some Brands are already taking advantage of this opportunity. These brands include Quick teller, GT pay, etc. You can also learn how to do web design and offer these services to people and companies.