14 Business Ideas In Nigeria in 2020

14 Business Ideas In Nigeria For Entrepreneurs In 2020

Are you looking for business ideas to create income in 2020? Please look no more. Here are 14 business ideas in Nigeria – Money Spinner Ideas for Entrepreneurs In 2020.

What is Business Opportunity?

A business opportunity should consists of the following factors all of which are to be present within the same time (window of opportunity) and most often within the same domain or geographical location, before it can be claimed as a business opportunity.

These four elements are:

  • A need
  • The means to fulfill the need
  • A method to apply the means to fulfill the need and;
  • A method to benefit

With any one of the elements missing, a business opportunity may be developed, by finding the missing element. A desirable characteristic is for the combination of elements to be unique. The more control an institution (or individual) has over the elements, the better they are positioned to exploit the opportunity and become a niche market leader.

14 Business Ideas In Nigeria For Entrepreneurs In 2020

14 Business Ideas In Nigeria For Entrepreneurs In 2020

  • Bedsheet/Beddings Production
  • Shirt & Boxers Production
  • E-Payments and POS Business
  • Mobile and Electronic Accessories
  • Branding – Sales and Customizing
  • Trading on Fairly Used Goods
  • Cleaning Services
  • Home Cooking and Delivery
  • Digital Marketing
  • Cakes and Confectionery
  • Aso-Oke Beading and Stoning
  • Bead Making
  • Tutorial Classes
  • Internet Services

Business Management Training

It’s also a good idea, in the long run, to invest in business management training. It’s better if you and your staff are trained before you need it than finding yourself needing it when you don’t have it.

You still hold the reins, but you also have access to experts and resources that help secure your brand quality.

In Conclusion

Whether you are starting a small venture, want to grow an existing one or launch a big company, you should always have Scalability in your thoughts. Roman philosopher Seneca once said, “Luck is What Happens When Preparation Meets Opportunity”.

Most importantly, we do hope you have benefited from this article, we have provided a List Of 14 Business Ideas In Nigeria For Entrepreneurs In 2020.

Do you want to be an Entrepreneur in Nigeria?, then read Benefits of Business Registration with the CAC Nigeria. Which one of the two forms of business registration would you prefer? Business Name or Limited Liability?
If you want to know more about business name registration process with the CAC Nigeria – Corporate Affairs Commission, click – Registration of Business Name with the CAC | Complete Guide!

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This article is mostly for information purposes alone and is not intended to take the place of legal advice. Readers are advised to seek proper legal advice.  If you need help in reaching a lawyer, you may consider sending us an email at [email protected] and we would be glad to connect you with a lawyer.