7 Hot Businesses in Nigeria That will make you Millions in 2014

In a previous post published by Business-Matter.com on 12 profitable businesses you can do in Nigeria that requires little of no capital, many have requested for more information on what businesses are hot and profitable in 2014.

Nigeria is a great country with various opportunities for entrepreneurs. Though, there are lots of challenges for an entrepreneur willing to start a business in Nigeria, those challenges could actually turn out to be a great opportunity to make money. Every problem is an opportunity for a solution to be created and that solution could turn to money if you are a business oriented person. In this article, Business-Matter.com brings you some good business ideas you can start in 2014 and make millions by the end of the year. Some require little capital while some require adequate capital to take off. We carefully researched these businesses based on the latest economy trends in Nigeria and economy predictions for 2014 and even beyond.  These are some good businesses you should consider starting in 2014.

  1. Online Retail Business (E-commerce) – Over the last 10 years, more and more Nigerians have been connected to the Internet. In fact, the population of Nigerians on the internet is even bigger than some 3 smaller countries in Africa. These figures have made way for entrepreneurs to start an online shop targeted at Nigerians. If you are living in Nigeria or relevant with the online trend going on in Nigeria, you would have heard of some online store in Nigeria and probably have bought from them while your goods got delivered to your location.

Well, this is a growing market and the market is still huge. You can start this business depending on your capital and grow gradually. You don’t even need millions of dollars from investors to start like the big guys in the industry. (Of course, no investor will invest in your business just like that, except you’ve had a proven track record or the investor is a known person to you). Also, you don’t need to start selling all types of products to begin. Just find a particular niche and begin from there.

All that is needed to start an ecommerce business in Nigeria is basically, an ecommerce website with full functionalities of a standard online shop. The products you want to sell, and knowledge of operating your online shop.  Your online store should be able to receive payment online or people can pay into the bank if they are unable to make payment online. Also, you should be able to track orders from customers and do so much too.

Setting an online shop actually requires lots of money.  Most web developers could charge you as much as N1million or even more to set up an ecommerce website and this has been a challenge to young and new entrepreneurs who want to venture into online retail business in Nigeria. However, in the course of writing this article, we consulted BrowseDotCom, (one of the best web design and development company in Lagos Nigeria) they have developed several ecommerce sites for companies and some smart entrepreneurs. Their services are fast, good and very cheap too. No matter your budget, you should be able to afford them. What set them apart from other web development company is also their friendly and 24 hours support and business advice they give to their clients even after several months of having done business with them. So, if you have been discouraged from having your own online store because of the big amount involve in hiring a web developer, there is hope for you. You can contact BrowseDotCom on their website http://browsedotcom.com to discuss the possibility of having your own online store. Make sure you make a reference to this post to increase your chances of getting your online store quicker and cheaper too.

…to be continued

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