If you’re here today, then you might have been wondering on starting up a small scale business. Well, I’ve got to say you’re in the right path. Some things that have bothered you for so long might have made you decide to start up a small scale business in Nigeria.
Perhaps, you’ve gone to search for job and didn’t get a good luck and you’re now utterly fed up with the unemployment rate of this present government. You might as well be thinking about the bills and you come to find out that your income wouldn’t be enough for you to make ends meet. Well you’ve got the option to start a small scale business in Nigeria.
What is a Small Scale Business?
A small scale business is a one that need very little amount of capital and sometimes no capital in order to start up. Most small scale businesses in Nigeria need only a little capital to start up while some doesn’t need money at all to start doing the business.
Starting a small scale business in Nigeria today is clearly a wise decision. Why do I say so? When we look at the present government today, they can’t be trusted with our future. So, starting up a small scale business in Nigeria relieves you of so many financial burdens which will be discussed as we continue.
Various Small Scale Businesses in Nigeria
Nigeria is of no doubt full of hustlers who are ready to do anything for money. There are many small scale businesses in Nigeria and I’ll discuss on a few of them below
Here are list of small scale business in Nigeria which you could try at least one.
Farming is of no doubt one of the lucrative small scale businesses in Nigeria. and is arguably one of the best.. There are two types of farming. We have the livestock farming and crop farming. Livestock farming has to do with poultry, fishery, rearing of small animals for commercial use.
Crop farming entails growing of crops for commercial purposes. Any of the type of farming mentioned above can fetch you money I’ll go further to discuss how you can benefit as a small scale business owner in Nigeria.
Poultry farming is one such business you can start small and grow to a very large one. You can easily make money as a poultry farmer owing to the number of people that eat chicken daily in Nigeria. With just 10 layers (which is specie of chicken) you can start. With proper care, the layers will grow to the point of laying eggs.
This means over time you can start selling eggs, which its proceed will grow to the point of buying more. The more the number of layers you have the more eggs they produce. The more money you can make by selling them. This type of small scale business has made a lot of people millionaires.
However, you won’t be a millionaire overnight. If I told you so, then I’d be lying to you and myself. So the process can take from months to years depending how prepared you are to work it out.
There are other livestock farming and I’d list them out. I won’t list all out though but I’ll list those with great benefits.
- Fish farming (fishery)
- Cattle rearing
- Pig farming
- Small animals such as grass cutter, guinea pig and so on. They can be farmed as well.
This includes planting and harvesting of crops. It could be for family purpose or for commercial purpose. You need a piece of land for a startup. There is the need to venture into this type of small scale business in Nigeria because people must eat daily.
Let’s take for instance cassava farming as a case study. It is used for producing foods such as garri, fufu, starch and other things.
If you’ve gotten a small piece of land, you can just start by getting the stems of cassava. You plant it and take care of your crops until the time for harvest. When you harvest, there are various products you can make from it.
And these products are in demand every day in Nigerian markets. As we know, garri is an essential food in Nigeria. Garri has a very high demand in the Nigerian markets today. So, you can always make money from crop farming
Laundry Service/Dry Cleaning:
Have you ever paid someone to get your clothes washed and ironed as well? This type of service is known as laundry or dry cleaning service. It is also a small scale business in Nigeria and has been made easy over the years.
With the use of automated machine such as washing machine, laundry has been made easy and efficient. If you’re interested in doing this business, you’ll need at least a small rented flat which you can use as a store.
Like I said, no business can make you millions overnight. You have to start from somewhere and as you go, you’ll progress in making more money depending on the effort you put into the business. With time, you can get a washing machine which will help to reduce stress and save time.
By so doing, you will be able to win more potential customers and grow your business, which can lead to the employment of more hands. Laundry service isn’t a bad idea after all. It’s really a small scale business in Nigeria that pays.
Man must wak, is a popular saying in Nigeria, which means man must eat. Therefore running a restaurant is a good way to make money in Nigeria. Remember, we’re talking of small scale business in Nigeria and starting a good restaurant is expensive.
So, you can start small by running a road side food selling, from where you can grow it to big restaurant. Positioning is a big factor to consider. Position close to construction sites because workers schedule does not allow them go far to eat.Make sure you know how to cook. As long as you cook tasty food, you will definitely get much customers.
Opening a store near a school really is a very good idea. This is a very small scale business for you to consider entering into. During break time and closing hours, students like buying snacks and this kind of small scale business usually runs very fast. Well, in order for you to gain more money, you’ll need to increase the size of your store as well as what your store has to offer. Keep saving from previous markets to do this.
Going into tailoring is not a bad idea because the demand for clothes increases every day. All you need is the skill and a sewing machine. In fact this one of such small scale businesses you can start from the comfort of your home.
With proper publicity among your neighbors you can grow faster in the business than you can imagine
Benefits of Small Scale Business in Nigeria
There are great benefits in trying out small scale businesses in Nigeria. Here, we are going to take a look at them critically.
There was a reason why you decided to try small scale business at first. It was because you don’t want to leave your financial future in the hand of government.. So you won’t be depending on the government for salary. At least you know that if they decide not to pay, you have something worth doing in order to pay the bills and keep the family running smoothly.
You don’t have to worry about the bills: you will always be confident that you can meet your needs easily. As said earlier, the government isn’t trusted. So doing a small scale business can help pay the bills easily. You don’t have to worry that you’ll be fired from work one day or that the salary isn’t enough to make ends meet.
You don’t have anyone who will tell you what and what not to do at any given time. You’re the proprietor of your business. Invariably you’re the boss. In fact, if you manage it well, it will move from small scale business to large business.
Disadvantages of Small Scale Business in Nigeria
As we all know, anything that has an advantage must have a disadvantage. Though, the advantages far outweigh the disadvantages. Let us consider some disadvantages.
- Unfaithful employees and customers: During your business years, you’ll experience a lot of disappointment from both your customers and your employees. But thus shouldn’t make you quit the business, justly when you’re a sole proprietor.
- No work no income: If you’re the only one managing your business and you want to make money every day from that business, then you’ll be present at work every day. The day you’re absent from work, you won’t make money from it that day.
- It is always advisable to have assistance in your business. If you can’t be able to make it to work a day, you know someone is there for you. In this manner, you won’t be losing money as when no one is there to manage the business.
- The market competition: Well, establishing your business isn’t really easy, but if you can satisfy your customers’ expectations, then it wouldn’t be a big deal. There are other people out there in the market too. The only way to win the competition is to always make sure you satisfy the needs of your customers. If need be, offer discount when a customer buys a large amount of goods from you.
I hope I’ve been able to explain the concept of small scale business in Nigeria. So if you’re not satisfied with the present government, you’re advised to take a small scale business. However, those who are satisfied with the present government, it isn’t a bad idea to take a small scale business too.
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