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5 Businesses That Can Make You Rich in 2017

Photo credit: twpunionschools.org

The past year has been rough for many countries in the world but none of them experienced the waves as bad as the Nigerians. The policies that were introduced coupled with the market environment aided the downfall of trade in the year before but with some legit local and international business opportunities this year looks promising enough. For your information, 2017 istill very fresh and there are ample business opportunities that can actually make you rich if you are ready to see beyond looking.

Here are 5 businesses that Nigerians can invest into to make money both nationally and internationally.

Fruit Juice Production

Agriculture in Nigeria is highly supported and the weather of the country is ideal for many fruits that grow there. With huge resources of fruits at hand and the market for food production in need of more businesses in this niche, Fruit juice production serves as one of those easily set up businesses that are high on generating revenue. Among the famous fruits that grow in Nigeria the Apples, Sugarcane, Mangoes and Guavas are easily acquired in low rates.
Photo credit: stepbystep.com

Cashew Processing

While Cashew is one of the most expensive dry fruits out in the market the availability of it in Nigeria makes it cheap to buy in bulk. The labour is available at cheap prices and the business can be started on a small scale without running out of the raw material for the job. It has a lot of market potential and the goods can then be exported to get higher revenue generated from it. The product is sold at a high price in the world that means that costs could be covered in a better way. In some Nigerian villages, cashew nuts can be gotten relatively free of charge. This you can process, package and sell to big supermarkets in cities or export to other neighbouring countries.
make money from cashew nuts


Dairy Products

Agriculture is a supported cause in Nigeria and many government policies such as Agriculture insurance scheme and tax minimization applies to people who wish to invest in this cause. The demand in market of the dairy products is not met by the supply thus it makes the production of dairy products especially yogurt a profitable business to jump in. The government is also ready to provide small scale loans to the farmers as it is in their interest to develop the agriculture industry in Nigeria.

Furniture Sales

Furniture trade is a heavily growing industry and the fact remains that it is an industry that has been quite neglected. Not only is it easy and cheap to start a business in this niche, the labor that is required for this kind of a business comes cheap too. Given that Nigeria has ample of semi technical and not properly educated staff unemployed the labor costs would be less than that in other niches.
 One major mistake so many people make here is they think you must be skilled in furniture making or carpentry to undertake this business which is false, a couple of Ibo guys I know who are into this business do not know jack about furniture making, they import abroad and also buy from local makers who ignorantly sell to them at cheaper prices. Some of these big furniture sellers go the extent of owning their own factory, hire experience makerand pay them based on how many they are able to produce.

I know what you are thinking right now, do not allow anyone deceive you. Some of the 'fine' furniture you see were made in Onitsha, Aba etc and are far better than the foreign ones but in our usual way, we prefer it made in China, Hungary, Dubai etc.

Photo credit: www.bedmatefurniture.net

Fast Food Stalls

Fast food is one of those items in the market that have an endless demand due to the high level of consumption. Nigeria is a highly populated country and the need for fast food that comes in handy will never go rusty. That being said, fast food stalls do not require a lot of capital to be set and no educational standards need to be met in order to set up the business. It is one of the highest revenue generating small scale business today in Nigeria.

Do you know any other one apart from the listed above? The list is not exhaustive, you can help us by posting it using the comment box.

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