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Thursday, June 22, 2017

The beauty of economic recession is that it also creates opportunities for people who can carefully study the business terrain and approach it headlong. 
  
Nigeria has been in economic decline for a few years now falling into recession in 2016. This has led to many Nigerians tethering on the brink of desperation as they cannot match rising prices of basic necessities.
However, amidst all of this perceived gloom and doom are great opportunities for the enterprising and creative. We present to you 10 of such business opportunities in random order:
1. Agriculture
The federal government has been encouraging people to adopt agriculture as a means of ensuring food security and reducing Nigeria’s food importation bill. Several state governments like Kebbi, Lagos, Anambra and Nasarawa are also keying into this vision. If you are smart and learn quickly, you can make lots of money from the different types of agriculture that are out there ranging from planting food or commercial crops, poultry, ranching, fish, snail farming and lots more.
2. Food Business
Closely related to agriculture is food business. This has always wanted been a profitable business for those who do it well because as we say in Nigeria ‘man must wack’ (people must eat) whether or not the economy is doing well. However, with soaring kerosene and cooking gas prices, many individuals and families prefer to eat from local food vendors. You can go bigger and start a restaurant that prepares great meals at great prices. If you can add office and home delivery to the mix, you could make ridiculous amounts of money especially if you leverage on social media.
3. Transportation
People must move from their homes to places of work within and outside cities. There so many ways to enter this business from Uber to commercial buses to tricycles. The most important factor for success is either you drive your vehicle yourself if it is only one you have or find trustworthy people to drive your vehicles if you have more than one. Hire purchase agreement with your drivers is an option you might want to consider as it gives them an incentive to reach the agreed sales price in record time. This is good for you as you can use the profit to expand your business.
4. Blogging
This is one of the cheapest businesses to start that can transform your life in months. All you need is Internet access on a computer or smartphone and the ability to create interesting content that readers and search engines love. Find ways to commercialize the blog by joining advertising networks like Adsense, Infolinks and others or do affiliate marketing on your blog.

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