Another Great Year is here, I have compiled a list of Hot Business Ideas to Start in 2020, As of now, Nigeria unemployment ratio is hitting a whopping chunk of 30%, every year, thousands of young graduates are released from National Youth Service Corps to join the labor market, unfortunately as more graduates are created no new job is created.
As we approach another new year, it’s very important for you to look towards having a small side hustle or a self-sustaining venture, I want you to understand that for any business to succeed, there must be a persistent and consistent efforts despite the funds that were channeled in it if no adequate efforts are made to manage the business operational or running cost, everything will go down the drain
Some skills you should possess to achieve your aim
Management Skills: it is not rocket science, just ensure you prioritize on most important key things in the business that will move your business to the next level
Skills and Expertise in that Field: if you are planning on establishing a laundry business or Catering system or online e-commerce shop, wouldn’t it be nice to at least acquire the basic skills needed to move such business forward even if you were not the person to manage it?
The knowledge of knowing exactly what you want and where your business road map is heading will enable you to sail through challenges, they are fewer chances of success if you are ignorant of your business terrain/niche.
Perseverance and Foresight: I know you will be wondering why I included it as a skill, funny enough this is the a-must-have quality of an entrepreneur when you listen to success stories of a successful entrepreneur, the honest ones will tell you how consistency and perseverance led them to their fame stage.
Becoming an entrepreneur is a lonely path especially when the business ideas are in seed stage, most times you have to do everything yourself, this could be very overwhelming leading to doubts and loss of interest since the money isn’t yet flowing, even when you get everything right, consistency and perseverance is the only ride to your destination
Finally having foresight is very crucial to ascertain when the business model isn’t working to improve or adjust to the current trend of times, having perseverance is great but combining it with foresight will shoot you up above your limitations.
Having said that, here are some really smart Hot Business Ideas to Start in 2020 and with much work can turn to a full-time business that can create more employment opportunities in Nigeria
Hot Business Ideas to Start in 2020 anywhere in Nigeria
Poultry farming Business Idea:
Are you thinking of what I am thinking? OK let me give you a teaser, or a sneak peek while poultry farming should be your top business idea this year as a Nigerian, for over 5 months now, the Federal Government of Nigeria have closed our borders preventing the importation of rice and frozen foods such as chicken, turkey, fishes, etc.
Before the closure of Nigerian borders, a Kilogram of chicken is sold N1400 for imported and N1000 for locally processed chicken product
Do you know as of the time of writing this article, a half kilogram of locally processed chicken is sold for N1000 Wow this is like 100% increase, yet people are complaining, it is not readily available,
There is no better time to start a poultry farm than now since the process of growing the chicks remains the same with or without border closure but the profit doubled, why can’t you do it? You can start a broiler poultry farm with as low as N50k and be earning up to 150k every 3 months
Exportation Business Idea:
You know this article is not the regular huge list of 100’s of business you can start anytime in Nigeria, rather I handpicked this list to follow the trend of this year 2020 especially bearing in mind our economy and earning opportunities,
One of the challenges or some of the questions which will arise as you see this business idea on my list is, “ I don’t know anything about exportation business”.
That’s right, I wouldn’t wish to sweet tongue you, but have it in mind that soon the Nigerian Government is planning on devaluing Naira, on the positive side, if the business you embark on allows you to earn in foreign currency, then you are about to become a real millionaire.
There are many things in Nigeria you can exports especially Agricultural products or raw materials, processed food ingredients, etc,
For proper training and legitimate guidance, there is a popular radio/TV reality program aired by Human rights radio 101.1 FM Abuja, where people are empowered towards a self-empowered future, its called Berekete Family Show, staring from 7:30- 10 am, Monday to Saturday
They offer cheap and reliable training in different areas of life such as catering, ICT, App development, CCTV installation, Networking, Importation Business, Online Business, Exportation business, Tailoring, bed & Duvet making, etc, you can join their Facebook or YouTube channel, Download their online radio on Google play store
Snacks Selling Business Idea:
This is one perfect business idea to kick within Nigeria if you have pass-through Lagos-Ibadan express road or Benin ore express road, people make their living from packaging snacks like cakes, cocoa nut chips, chin chin, many more.
With this, you can set up a business as well and supply your products to schools, supermarkets, churches or even the grocery store, get a sales boy to help you sell them at the strategic selling point.
Food Joint Business Idea:
AKA Buka, Mama put has been in existence since the days of our fathers, however, smart entrepreneurs are revolutionizing it in a better way, you will agree with me that Nigerians don’t joke with the “stomach” True or False? Of course, we don’t play with that!
So a Food Joint Business would be an income-earning venture if you are good with the kitchen and be sure to have a caliber of people patronize your services especially the working-class people who live their home as early as possible.
Outside cooking for the public, it saves you and your family the cost of daily feeding, O! yes, because most of the food leftovers will be eaten at home,
Fruit bar Business Idea:
You will agree with me that fruits have great health benefits to us, this will not be a bad idea to opening a fruit bar where people come to have a great taste of fresh natural blended made fruit juice. fruit juice bar where people can use to quench their on long day stress in place of alcohol.
This business model will be best suited in big cities such as Abuja, Lagos, Port Harcourt or places where there is an influx of people
Online Importation Business:
Starting a small importation business will not be a bad idea, you can start making money importing items such as laptop, phone, wristwatch, clothes, shoes, and other hot selling items, you can sell these items on social media such as Facebook, Whatsapp, there are also some classifieds sites such as Jumia, Jiji, usnapp, nairastreet where you can sell your imported Goods
Car hailing or Cab business
This is quite an easy business to do as well, even with your personal car.just register yourself to any of their platforms such as Uber, Taxify or Bolt.
With this you are good to go, I love this venture more because it gives you the ease of mind, you can even do this as a side hustle after work to argument your monthly salary
Day Care System: Gone are those days when our mums sit at home waiting for dad to return home with goodies or money for the family, today‘s women are breadwinners in some homes, this implies that most of our mums are super busy.
it’s a dilemma for parents who are always busy, they find it difficult to care for their babies especially during these working hours. This is where you should carve a niche for yourself by creating a Day Care System.
You can also provide your services to working-class parents and busy mummies. Make sure your daycare clean and well ventilated.
Though it seemed nice and promising, you must ensure that you register your creche or daycare services with CAC and ensure that every child in your custody is well secured to avoid theft finally remember you must be a lover of children to embark on this type of business
Repair and Sales of Gadget:
it’s one necessity, we all use the phone and there will be a particular time the phone will develop a problem which will require a repairman. Starting a mobile store outlet and a repairing center as well pays in the long run, however since Mobile phone sells is very capital intensive, you can start with repairing, and selling of mobile accessories such as chargers, casing, flash drives, and memory cards.
Furniture Making Business Idea
You may see yourself making furniture for office and home usage. You really don’t have to be a furniture maker yourself to start the business; you can employ good furniture makers who you employ to make solid and beautiful furniture for you then you can handle the marketing and promote the business
Home Cleaning Services Business
due to how everyone is business these days, to clean a house or fumigate it has become another business opportunity which pays heavily, a beautiful thing about this business idea is that you only need your strength and some few chemicals to kick start it, you can even take up contracts to clean new houses, event center, etc
Home tutor Business Idea
If you have a piece of knowledge on some secondary subjects,
you can start a home tutoring service. There are many pupils that
really need assistance for their difficult assignment and with this
you could make yourself sweet cash.
Online Tutorial Services: this is a fast gaining that has a great reputation in
Nigeria, you can involve training people on short tutorial courses,
also helping students with their assignment and university students on
their projects, with this you can basically add knowledge over this