5 HOT BUSINESS IDEAS IN NIGERIA

The first step to starting a business in Nigeria is to have a business idea. However, the issue is coming up with creative business ideas that are marketable both today and in the future. One way to achieve this is by going evaluating small profitable business ideas or going for hot business ideas that are already trending in the market. However, many will prefer going for rare business ideas with low capital and high profits as these types of ideas for business have less competition.

In recent times, many startups prefer going for businesses you can start from your home. This is primarily because of the outbreak of numerous successful home businesses. This preference has made many Nigerians seek for information on home business ideas in Nigeria.

In this piece, we’ve compiled a list of top five hot business ideas you can start in Nigeria.

Blogging

Undeniably, the average person will expect blogging to be among the top business ideas to start in Nigeria. The rate of Internet use keeps us increasing exponentially. As of 2012, global internet has grown by 87% with over one million new users added every day. With these statistics, starting a blog is one of the smartest business ideas you can execute.

There are numerous blog niches you can decide to focus on. You may wonder, “how can one make money from blogging?” When your blog builds a reputation, you can earn from numerous Ad agencies like Google Adsense and the likes. The income is quite high, and it allows you to develop some high demand, valuable skills.

E-commerce

Besides searching for information online, internet users are buying products online. This has led to a boost in sales of many E-commerce websites. Amazon alone experienced a 25% increase in sales in 2016, in only North America. This shows the fast-growing trend in buying products online.

In Nigeria, e-commerce services are becoming popular every day and are considered one of the most lucrative tech startup ideas. There are numerous ways you can make sales as an e-commerce website owner. You can decide to get your own goods, or you can list other merchants’ goods and make sales on their behalf. There are also online platforms where you can list and sell products to buyers. Any way you do it, e-commerce alone has the potential to give you a steady income.

Web Design and Digital Marketing

A new and trending niche in Nigeria, digital marketing which includes website design, SEO and other aspects has a lot to offer you if you wish to start up as a digital marketer. For only website designers, The Bureau of Labor estimated a 27% increase in workforce demand between 2014 and 2024. This rate is higher than most career and professional courses.

The good thing is, the skills required in the field are not challenging to learn. You can learn online, or you can get a personal tutor to teach you the rudiments you need to build a career in digital marketing.

Home/Office Cleaning

Cleanliness, they say, is next to godliness. Keeping a clean environment is one of the most beautiful habits that sustain the environment. However, not everyone has the habit, either because of a tight schedule or because of not liking odd jobs. This has made professional cleaning services a hot cake as many apartments, and office owners employ cleaners to maintain a clean environment for them.

Setting up a cleaning service business is a sure bet to attract qualified customers consistently and keep you smiling to the bank.

Event Planning/Management

Planning an event requires a high level of dedication, experience and time investment. Just like keeping a clean environment, not everyone has the time and know how to plan or manage an event. This has led to many companies outsourcing their event management duties to experts who have the time to attend to them.

Setting up an event planning and management business requires a minimal amount of money and is one of the small profitable business ideas you may want to develop. This is because it requires some advance payment from the clients, most times.

Conclusively, one of the factors that’ll determine the success of your business in the market is how professional you are with your business. We advise you to get a website, logo, business documents etc. so your prospective clients can have a way to reach out to you. Whichever way, making adequate plans before starting your business is essential.