Take it or leave it, business is always going to be there. From the days of trade by barter to present times, it is still kicking. Lately, there has been a lot of talk about Artificial Intelligence. I can imagine how wide your eyes turned at the thought of robots taking over our jobs. It will be crazy to be at the mercy of machines. However, till the steel bodies come right through, let’s build our empires.
Have you ever thought about what sector to delve into? What sector seems to be the most lucrative? I will take you through this:
Foooood! Thats the first thought that comes to your mind. We all need to survive and food is a necessity. It might interest you to know that agriculture is not just about food consumption but encompasses other sectors including the textile industry.
Nearly one-third of all employed Nigerians find themselves working in the agricultural sector, which is one of the country’s main foreign exchange earners.
In recent times, due to the need for more food supply to the ever increasing population, a lot of incentives have been put together by the government especially in Africa to encourage an influx into the agricultural work force. Cooperatives, entrepreneurship programmes and agricultural stakeholders are more keen to offer loans and grants to start-ups in the agricultural sector as long as your idea is smoking hot. This is a good business hole to dig into.
Hey! Have you walked into a hospital lately? Babies are born on a daily basis. This increases the population of school children and leaves our government-owned schools over-populated. However, parents are still interested in quality education and adequate interaction time between their wards and the teachers. Creating a school model that is focused on skills development could have the potential returns being very lucrative.Establishment of qualitative private schools is the new cool.
INFORMATION AND COMMUNICATION TECHNOLOGY SERVICES
ICT is the top dog. With every other business being wired around information and communication technology services, this is another lucrative sector to look into. Rendering services such as software development, social media management, film editing, media, and more is definitely good investment. Statista, a global statistics company, posits that there are approximately 76.2 million Nigerian internet users as of 2017 and Nigeria is one of the fastest growing internet users in the world. Interswitch, MTN, Andela, Sidmach and more have keyed into this.
Women are dynamic. The fashion trends are ever changing and evolving. Diving into the Fashion industry with excellent designs and fabrics is another way to get the pay-checks in. Fashion industry has developed more participants, exposure, structure, presence, earnings, and training. Many now work in the industry as clothing designers, fashionmodels, clothing stylists, fashion photographers, makeup artists, hair stylists, cosmetologists, and fashion journalists. Therefore it is also good labour opportunity creator.
In Lagos, one of Africa’s largest cities with a population of over 15 million people, there are less than 7 major shopping centres. The World Bank estimates that in Nigeria, the affordable housing deficit is at over 17 million homes. It’s the severity of the real estate deficit across Africa that makes it such an amazing multi-billion dollar business opportunity. Residential houses, retail, hospitality, office spaces and industrial spaces are dire needs.