And the efforts of the entrepreneurs are yielding remarkable benefits in the societies. The lifelong "company man" has become a relic of the past. New businesses are being launched in record numbers as conglomerate of small businesses spring up; they break the barriers to entry and provide level playing field.
In the past, Nigerians graduates had depended on 'white collar' jobs after graduating from the higher institutions. It was a common thing to see young graduates parading the streets of major cities with files in their hands containing their credentials in search of jobs. But today the story is rapidly changing as both graduates and non-graduates are beginning to think differently from the old pattern. With the economic crunch in many nations, it's quite obvious that there are very few jobs available to the teaming graduates that leave the schools on yearly basis. With the glaring harsh economic situation, youths have started to think 'out of the box' to secure their future. One of the ways of solving the unemployment problem in Nigeria is to create awareness for people on income and employment opportunities. There is also the need for people to look inwards as against looking for white-collar jobs that are not just there. There is also further need to create income and employment opportunities centre where people could be trained on skill acquisition and also thought on various income opportunities.
In the recent years, a lot of young people are paying more attention to vocational trainings to acquire skills and technical knowledge to start up, run and sustain new business ventures. This quest for survival has given rise to the establishment of many small businesses that are rapidly turning into bigger businesses over the years. In the face of the survival bid, businesses like car wash, dry cleaning, sports viewing centers, hair dressing/barbing salons, fashion designing, furniture, plumbing and many other small businesses are waxing stronger everyday and they are contributing immensely to the growth of the economy in their own ways.
A peep into the operations of these establishments throws more light on the achievement of these businesses and how they are being sustained. The list of these businesses is inexhaustible but a spotlight on few of them will suffice.
Car Wash Business
In the last couple of years, the number of cars in Nigeria has increased. In today's context, most cars are driven by the owners themselves who would any day prefer to have a quick car wash, rather than leaving it the whole day at service station.
The car wash industry has grown from as simple as hand wash to sophisticated high impact pressure jet wash technology. Owning and running a car wash these days is not just a mere business, but it's one of the most lucrative and respected businesses. When your car gets dirty you know that you need to wash it, and the closest place to get that done is to go to a car wash.
For as small as N500 (depending on location and type of vehicle) per vehicle, there is much opportunity to make profit. There is really no entry barrier to this business, as a few unemployed graduates are already doing something useful with themselves by running car wash businesses and also employing up to four or five helping hands in the business depending on the volume of patronage. It is a simple business to start and requires minimum capital.
Some creative ones take the initiative further by creating a perfect relaxation outfit for the patrons with relaxing chairs, barbeque stands, fresh fruits juice machines, and light music at the background.
Dry Cleaning Business
Establishment of laundry/dry-cleaning outfit is one of those small-scale businesses that can provide income opportunities for Nigerians. Dry cleaning business is a viable income and job generating venture. The return on investment is more than 100 percent.
The ease of establishment can also not be overemphasized as it is not capital intensive. Job seekers and those who are just retiring from services are venturing into the business to generate sustainable income for themselves and the upkeep of their families.
The most important aspect of the business is to do a thorough and good job for your clients. If there is a good job, there will be more patronage.
Furniture Business
Furniture Business in Nigeria is very lucrative. How many Nigerians know the difference between designer furniture and Nigeria furniture? This question is what led our correspondent into probing deeper to discover the real booming furniture business in Nigeria and see how profitable it is.
The truth is that everyone wants to have furniture in their home regardless of the quality or where it comes from. To some, it doesn't matter if it is imported on Nigeria furniture; while others simply can't tell the difference between these two. The best part is that the Nigerian furniture is actually very good looking, especially when it is designed by a good Carpenter. For the fact that many people can't tell the difference, shows that they're nice too, and some of them last long as well. And they're cheaper, presenting something affordable to everyone – unlike the so called designer version.
However, the truth is that you don't even have to be a Carpenter to sell this Nigerian Furniture. Anyone can do the business, no matter who you're as long as you have the needed capital to start, which is not much. Many great Nigerian have made it big through the sales of household and office furniture. One good example is Mrs. Ibuku Awosika – she is the founder of Quebees Ltd, and Chair Centre Ltd which manufacture and sell office furniture that runs into several hundreds of millions of naira here in Nigeria. She started as a fresh school leaver with little money and today one can imagine where she is.
Viewing Centres
This is a football country is a familiar refrain in Nigeria. Soccer viewing centres have helped in reducing the rising profile of youth unemployment as many youths have found daily bread in this lucrative venture. However, the business is still run below optimum level. More and more people are fast realising how profitable the business could be, especially when operated in a standard way.
Football, apart from being the country's favourite and greatest unifying factor, has in recent times brought about a fast growing business, which side by side, has been booming with the popularity of the game. In major cities, such as Lagos, Abuja and Port-Harcourt, one hardly walks a hundred metres without coming across a soccer viewing centre. In some areas, there are multiple centres. But in most cases, they are still operated below optimal level.
A lot of young people have made much money from the local viewing centres situated around the corners of many streets in the cities even in some rural areas where football lovers reside and some have grown byond viewing centers to hotels and fast food centers. One of the most interesting things about it is that it does not require huge capital for startup, but the owners are having awesome return on investment.
The present world circumstance does not let anyone to fold his arms doing nothing. Successful men and women in the world all through history are entrepreneurs. It has an edge over 9 to 5 kind of job. It is capable of meeting your regular needs by giving you a steady cashflow.
It also affords you the opportunity to harness your natural gift. Therefore it is important to know how best to start on the ladder of business for proper sustenance. Lets look at certain basic requirements that will help anyone start-up and stay in business successfully.
Identify The Business
There are so many needs around, but you are to solve a particular one and not all. You have what it takes to solve someone`s problems right inside of you. You need to discover it.
What do you have passion for? Chances are that what you have passion for is your core area of competence. What is it that happens around you, which you hate and wish you could change? Indeed you can. The normal business challenge that confronts every business man will surely show up. It is your passion that will sustain you.
Go For Training
You need to learn how to find a need, how to meet that need with what you have and know the strategy to attract potential customers.
Be Humble
Make up your mind to start low. A humble beginning is always the best beginning. Even if you have an idea there is still a lot to learn. Great things don`t usually start in a great way. Sometimes the right environment for your success will seem to be hostile at the first time. Champions do what they don`t like to get what they want.
Capital
A capital is an asset that is available and could be used to produce other assets. To raise a financial capital for your business you must have integrity.
Personal saving is a good option for those in a paid job. If you are an applicant, family and friends could be a good source of fund. People are more confident to lend out money to someone who has a source of income than the jobless.
Money is not the only capital you need for a business. It may seem as your major need anyway. Time is a capital. Use your time to carry out research. You can create and multiply other capitals by using your time effectively. Your experience in life is a capital. Take a moment to consider your past life experiences whether good or bad. There is something in it for you that could be useful as you plan to step into a business.
It is against this background of unemployment ravaging the country that the government and other non-governmental agencies are advocating entrepreneurial skill acquisition programmes for both men and women alike in order for people to debunk this ideology of after school, next is to go get a job, it doesn't matter if you have the potential to even create jobs yourself, everyone just goes hunting for job once they have the certificate.
Job market in Nigeria (just like any other country) is very saturated. True, there are hundreds of thousands of jobs waiting right now for grab, but there are equally millions of qualified applicants hunting to grab them.
It must be agreed that starting a small business in Nigeria has never been easy considering what one would have to go through to raise business capital towards setting up and running a profitable business. Basically, it's all about money. Government has also created some financial institutions that will assist small businesses to succeed so long as the startup and business plan is right.
But nevertheless, maybe more important than any other benefit of working at a startup is the realization that hard work, creative thinking, and tenacity are worth a whole lot in achieving a set goal.
Source: www.welcometoabuja.blogspot.com
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