13 business to look up to in this add times

A few days ago, the IMF confirmed what
everyone had feared for a long time now –
Nigeria has officially slipped into recession.
There is widespread anger, despair, confusion
and frustration. We see massive loss of jobs,
companies are shutting down and aspiring
entrepreneurs put their business ideas on hold to
see how things turn out.
I'm a wealth evangelist. I don’t know what the
government should or should not do to get the
country out of recession and frankly, I don’t think
it’s my job. What I do know is: in the face of
economic adversity, there are endless
opportunities for the smart entrepreneur to make
money. The purpose of this article is to bring
those opportunities to your attention.
THE ONLY WAY TO SURVIVE IN A RECESSION
IS TO MAKE MORE MONEY!

1. FOOD BUSINESS
Food business, in any capacity, is evergreen.
People must eat. There are some ways you can
get involved in the food business. You can set up
a small restaurant. If you focus of quality and
best service, you will never run out of business.
You can also start an outdoor catering service
for weddings, events and whatnot. Here is a first-
hand account on how to start a small catering
business. If cooking is not your thing, you can
start foodstuff business as a wholesaler or
retailer. You can also export foodstuff to other
parts of the world. No matter how you decide to
start, food is a necessity and that is why it is at
the top of the list.

2. TRANSPORTATION
Transportation is another sector that booms in a
recession. With increased fuel prices, massive
loss of jobs and high inflation rates, some people
would prefer public transport over driving their
own cars. You can tap into this opportunity and
drive your way out of recession. I know a lot of
bankers who lost their jobs and started a taxi
service business out of their savings. They earn
more now than they did at the bank. Companies
like Uber are changing the way people think
about taxi service business. If you cannot afford
a vehicle, you can enter into a hire-purchase deal
with someone who can afford it. With
determination and focus you make progress and
get a vehicle of your own.

3. TECHNOLOGY BASED SERVICES
Following Mark Zuckerberg’s visit to Lagos, the
Nigerian tech industry has come under the
spotlight after the Facebook founder’s interest in
companies like Andela and CCHub. The future is
tech! People need more creative and automated
ways of getting things done. You don’t have to
be a tech geek to tap into this industry growth.
You can take part as an angel investor and
partner with tech founders who are in need of
capital investment. Vc4a.com offers you such
opportunities to locate and invest in emerging
tech startups.

4. INFORMATION MARKETING
Information is the most expensive commodity in
the world. Recession is usually a time of
confusion. Prices are skyrocketing, jobs are
being lost and a lot of people are wondering:
what do we do next? How do I get another job?
How do I get more money to make ends meet?
How do I stay ahead of the competition in
business? If you have valuable information that
answers any of the questions above, you are in
business. How to go about it? Start a blog,
organize seminars, package your information
product (e-book, videos, podcasts, and webinars,
etc) and people will pay you to get them. In a
later article, I will show you everything you need
to start your own information marketing
business.

5. FREELANCING
Freelancers never go out of business. There are
lots bloggers who have no time to write,
companies who need better copywriters, startups
who need graphics designers, etc. Whatever you
are good at, there are people who are willing to
pay you for it. Nigerians make money on sites
like Fiverr and Upwork. Fiverr is a great platform
for freelancers to make money and has become
rather very competitive lately because more
people are getting into the system. People who
have been there for long usually provide training
for starters, helping them stay ahead of the
competition and make more money. Emmanuel
Riches (+234 803 385 5240) is one of such
people. If you need training on getting started
with Fiverr, get in touch with him. SourceGig is a
freelance sites for Nigerians. It’s not as busy as
Fiverr which is also a good thing. You can sign-
up with them and get early bird’s advantage.

6. FMCG MANUFACTURING
Fast Moving Consumers Goods (FMCG) are
products people use daily like Soaps, tissue
paper, toothpicks, matches, etc. If you can find
what people need, especially items they used to
import, and offer same quality and standard in
Nigeria, you are in business. Nigerians are
learning to buy Naija to grow the Naira. Dangote,
the richest man in Africa, realized the huge
potentials in this lucrative sector and has largely
dominated the FMCG market. Fortunately you
don’t have to be a Dangote to start FMCG
production. This entrepreneur started his tissue
manufacturing company 5 years ago from almost
nothing.

7. FINANCIAL ADVISORY
If you are a financial expert, you can advise
people on how to make wise investments. A
banker who just lost his job would be faced with
the question of what to do next. So would an
importer who just lost business because of the
embarrassing forex situation. You can start a
small consulting firm to fill this need. You can
also set up yourself as an expert in this field by
starting a blog that educates people on what to
do with their money. Starting a blog is easier
than you may think. You can contact me and we
will get started creating your own money-making
blog in no time.

8. EXPORTATION
You can export commodities to other countries
and make money. To export or not to export is
no longer the question. The question is how to
export. There are lots of materials available on
how to start your own exportation business. Over
time, we will make those information available
here.

9. AGRICULTURE
I am a strong advocate of agriculture as a tool
for economic diversification and prosperity.
There is something in agriculture for everyone no
matter the budget or ability. To get you started, I
put together a list of 50 agricultural business
ideas for entrepreneurs. There’s bound to be
something in there that will make you rich.

10. REAL ESTATE
Importers who cannot import anymore because
of the FOREX instability usually take their money
and invest in real estate. Your part could be to
advise them on where to get the best deals and
where to get available property for purchase.

11. FUNERAL SERVICES
This is one of the most underutilized business
sectors in Nigeria. Probably has to do with the
fact that they deal mostly with dead people. But
for those who are able to get around it, funeral
services is really a lucrative source of income no
matter the economic weather.

12. SPORTS BETTING
I don’t advocate gambling as a business model.
But having a shop where gamblers gamble is one
of the most lucrative businesses yet because
people turn to betting as a means of raising easy
money. You can start as an agent with a sports
betting agency and work your way up from there.

13. ENTERTAINMENT BUSINESS
Entertainment is another sector that sees
progression in a recession. You don’t have to be
a comedian or an artiste to get involved. You
can organize an event that pulls artistes and
comedians. People will pay you just to make
them laugh and have a good time.