11b, Reverend Ogunbiyi Street, GRA, Ikeja, Lagos

Some small business ideas in Nigeria to try in 2020

Starting a good business is within the reach of almost anyone who is ready to bear the risks and work

hard. With so many ideas on small businesses to try in 2020, it can be hard to figure out which is really

worth pursuing, but as risky as it is, it is also very rewarding. Most people want to start profitable

businesses, and usually people start small before developing into something great. Are you considering

starting a business and maintaining it, then you have a great chance to make good money out of it.

    here is a list of some successful small
    business ideas you can try IN 2020

Livestock Farming; Raising of birds domestically or commercially primarily for meat, eggs and even feathers. Examples of

which are turkey, chickens, geese, ducks and so on. Several opportunities arise from poultry farming, that is, you can have an

egg depot, barbecue (chicken) spot, cold room, this is a small business idea you can try in 2020 and develop it into something

bigger, you can even make supplies to big companies depending on your marketing ability.

  

2.  Exporting agricultural Products; Nigeria is blessed with a lot of food and natural resources, and most of these natural

resources are raw materials needed for production of some finished products. Everyday tons of raw materials and food

products leave the shores of Nigeria to countries such as India, Vietnam, China, UK, USA, Brazil, etc. Starting an

exportation business requires registering the export promotion council of Nigeria and decide which specific products will be

best for exportation. Some of the products that are in high demand abroad are yam flour, cassava, cocoa, cashew nuts, mango

and so on.

 

3. Importation of Clothes; If you think about the basic needs of every person, clothing is undoubtedly one of them, people

wear clothes everyday and are always in need of new ones, you can set up business of selling clothes to clients especially

when they are trending and less expensive. Also, since the economy is getting tougher and there’s need to be clothed, the

masses have resolved to buying used clothes rather than new ones. Importing your clothing can be done from china, India,

France, Italy and so on.

 

4. Restaurant Business; People usually go to eateries that are not expensive but still provide high- quality food service.

There are plenty of eateries in the country but that does not mean you cannot start your own restaurant. These days, people

are too busy to cook, so they often visit restaurants to eat, most especially students and workers, which is why setting up your

restaurant in the studying or business area would be a great idea. This business requires some starting capital but usually, the

eateries which provide excellent services have their special charm attract a pretty good audience and therefore make a lot of

money.

 

 

5. Dry cleaning Business; This business is one of the fastest growing in Nigeria, and many people have already done

wonders in it, because of the high demand. The primary reasons why it is such a lucrative business is that, just like restaurant

business that is lucrative because people don’t have time to cook, so also is the fact that not everybody have time to wash

clothes as well, they are too absorbed in work and other responsibilities, so they trust the dry cleaning services with washing

their clothes. In starting this business, you’ll need to set up some equipment and get to work helping people clean their

laundry in exchange for money. With expertise, patience and very good packaging, your laundry business will be the most

sought after.

 

 

 

 

 

 

 

 

 

 

6. Cakes and Confectionery; If you would like to start your little bakery business, then it is necessary for you to be a

fantastic cook, but also having some knowledge of it would be beneficial. The most significant point is finding the place for

your bakery because you will need to attract customers and be noticeable. At first, your business can start small, but it can

become bigger when it is profitable enough. Be creative when you start the bakery business with a very good packaging, and

one day you will gather the crops in the form of the cash.

 

7. Cold Room (Frozen food); Despite the high number of livestock farmers in Nigeria, frozen fish and chicken are still

being smuggled into the country through the border because there is a market for it. Some people don’t want to go through

the stress of killing and preparing fowls for eating, so they prefer to buy ready-made frozen birds. With the right plan and a

strategic location, you can make millions by investing in building and operating a cold room.

 

8. Catfish Farming; This is one of the fastest business opportunities in Nigeria. The major players here are regional players

meaning that each major player in the catfish farming industry is focused only on a particular business terrain within the

geographical location of the farm. You can start this business from the backyard of your house, and extend it, however, lack

of technical know-how can hamper the growth of this business, but with adequate knowledge and patience, You will benefit

immensely from the business.

 

 

 

9. Daycare Services; It’s no gainsaying that daycare services business is highly profitable and is here to stay in Nigeria. Now,

more than ever, as the country grows more and more industrialized; the need for parents to protect their kids while at work keeps

rising, more women are up – and – about these days; thus the growing demand for daycare centers in the country.

 

           10. Photography; If you love taking pictures and are really good at it, why not buy a camera and start a freelance

photography business. It could be a natural way to turn your skills and talents into a commercial opportunity. Photography business

is trending now in Nigeria, so look out for millionaires in this industry. You can start your own photography business today. Start

by doing free shoots for friends and family to build your online portfolio, get familiar with your gear and the editing process, then

soon enough you’ll start getting paid for professional jobs and head shots.

 

    In conclusion, the investment opportunities in Nigeria are not limited to the list above.

    With a little digging and research, you will surely uncover more of these opportunities.

    More important than your capital and the business opportunity is to make sure you have adequate

     understanding about the industry you intend investing in.

    Knowledge and experience are the prerequisites for low risk investing.

 

Further recommended read;

50 best small scale businesses in 2020

Top hot business ideas for beginners in Nigeria

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