THE SIMPLEST DEFINITION OF DEREGULATION TO A LAYMAN

So many people got their SIM cards for a whooping sum of N25,000 in year 2000 when telecom operators birthed in Nigeria for the very first time. I actually got mine later for N15,000 during one of MTN’s promo sales in 2001 or 2002 after hard labour work on construction sites with my father who happens to be a builder. Even after buying the sim card it took me another episode of labour to buy my first fairly used phone to enjoy the MTN service. I would not want to bother you with the story of how I recharge my phone thereafter because network in my school then was like looking for SALVATION. For those of us who can afford NITEL cards, we were able to make calls after queuing up for hours in the old compound of NITEL office where only two phone box is available for use by the lecturers, students, civil-servants and indigenes of the town called ILARO.

Fast forward to this day, virtually all the sim cards are sold for FREE in the market and they even come with FREE airtimes and other combo packages. How was this feat achieved if not for the deregulation of those Telecom sectors that was once accessible and enjoyed by the privileged few in the society. I could also recollect vividly, an aunt I lived with at Omole estate phase 1 was using CELLULAR phone at the time and it was like a tall dream for me owning such gadget but today I have bought phones worth more than MINIMUM WAGE so many a time. The crash in tariffs of telecom service providers actually started with GLO network owned by Mike Adenuga, GLO opened our eyes to many infractions from MTN, ECONET and other telecom service providers

, they made us realized that call rate could be billed per SECONDS, oops!. They also made us realized that SIM Cards could be sold for lesser price because it is still their property, also calls/sms within the same network was further slashed and there were better and improved customer service giving rise to CALL CENTERS job openings here and there. The last straw that broke the camel’s back was the arrival of ETISALAT network provider whose presence made me to love them till today, they accord us the opportunity to earn rewards upon rewards from recharging your lines, earn rewards from making calls, and earn rewards from referrals and many other goody bags.

The latest DEREGULATION effects happens to be in the area of DATA service, as data junkie myself, I have been looking forward to a day when the prices of the data bundles of different telecom operators in Nigeria would eventually crash just like call tarrifs and the D-DAY has finally arrived. It started with Glo, thereafter MTN joined and subsequently Etisalat followed suit by joining the league of those offering 1.5GB data at N1000. Other plans have been reviewed as well making 3.5gb data now to cost

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How to Start a Business With (Almost) No Money

How to Start a Business With (Almost) No Money

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With Akwa Ibom hospital, no govt-sponsored foreign treatment for Nigerians from 2017 - Minister - Premium Times Nigeria

With Akwa Ibom hospital, no govt-sponsored foreign treatment for Nigerians from 2017 - Minister - Premium Times Nigeria: The minister of health says there is no such hospital complex anywhere else in Nigeria.

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10 Most Noticeable Errors Of Start-up Business AND Ways To Overcome Them

Work load and Time factor has been a major challenge to sizeable number of people who start their own business. They become quickly overwhelmed due to their failure to conduct a careful feasibility study and detailed research on the line of business they intend to float. I have been lucky enough to have delivered at least 7 feasibility reports to different clients since the beginning of 2016. The latest request from a client in USA is a feasibility report on the EXPORT OF NIGERIAN CHARCOAL AND AGRO PRODUCTS.

Related article http://hollalaycan.blogspot.com.ng/2015/08/5-questions-to-ask-before-starting-your.html

Ø Let us begin with the first set of questions for an aspiring entrepreneur:

Ø Am I ready to start my own business?

Ø Do I possess the mindset of an entrepreneur? 

Ø Am I dedicated to spend all the time needed to be successful?

Ø Perhaps, are you ready to take enormous risks?

Ø And lastly, do I have a Plan B?

In the early days, the overall task of running the business lies on your shoulder as you are the overall boss, the General-Manager/Admin, the accountant, the salesperson, the computer technician, the secretary, the receptionist. It is imperative to get ready for challenges as there will be days when you are disenchanted, down in the dumps, or discouraged. To achieve your anticipated results may take some time as real entrepreneurial success doesn’t come suddenly.

In order to circumvent these frustrations, I have highlighted ‘The 10 Most Noticeable Errors Of Start-up Business & How to Overcome Them’:

Error Number 1 - Failure to conduct extensive feasibility, viability and profitability study of proposed business idea.

It has been reported oftentimes that new business or start-ups failed in the first few year of take offs because most entrepreneurs were not truly interested in the business; they were more interested in making money. For the fact that you will be spending a lot of time and resources on your new business it is advisable to venture into a business driven by passion.

Therefore, expend all the time you need working on your feasibility study and business plan, which should include: your mission statement, your business strategy, research on your target market (demographics), your marketing plan, your financial projections and sales, industry analysis (size, economics, trends, success factors, challenges, etc.)

See also http://hollalaycan.blogspot.com.ng/2015/10/9-sure-steps-to-set-up-your-own.html

Error Number 2 - Failure to establish whether the business truly adds value.

If your business can provide value by offering a service or products that people need it is most likely going to stand the test of time and become sustainable over a period of time. To overcome this blunder, ensure your products or services provide value and benefit to your target audience. Always provide pre-sale and after sale services to your clients.

See related http://hollalaycan.blogspot.com.ng/2016/03/how-to-start-your-own-profitable.html

Error Number 3 – Shortsightedness in the area of understanding the business dynamics.

Inability to identify the tools essential for every business is an error that must be avoided when starting a new business. Numerous business leaders, business consultants and management executives are of the opinion that paying attention to detail is a panacea for business success. The magic potion here is to recognize all the aspects of your business that are germane to the vision and mission of your corporate existence.

http://hollalaycan.blogspot.com.ng/2014/12/details-of-40-small-businesses-you-can.html

Error Number 4 – Being Jack Of All Trade And Master Of None

Any startup business which failed to describe its business in only one or two sentences will seriously make it complex for prospective clients to comprehend the purpose of the business and identify the value or benefits your business offer. To overcome this barrier, you must have a spontaneous brand statement and identity that instantly introduces your business, its mission and values that will make it unforgettable.

Error Number 5 - Failure to get in touch with experts who can help you get started.

The problem with new entrepreneurs starting a business is that they seldom ask experts on how to go about it, instead, they solicit advice from people mostly family and friends who have never started a business; so in reality, these people are not in a position to offer sound advice.

In order to avoid such pitfall, look for a mentor or surround yourself with experts who possess dexterity and proficiency that you may be deficient in. Team up with professionals who can harmonize your strengths and cover for your limitations.

http://hollalaycan.blogspot.com.ng/2014/04/a-business-plan-for-set-up-of-nylon-and.html

Error Number 6 – Underestimating Your financial requirements.

How much capital do you need to start your business? Do you know the market well enough, have you calculated your cost, what is your sales projection, do you know the number of customers you need? Do you know how long it will take before you get your first benefits or before you will run out of money? Failure to invest your time to work on all financial aspects, especially the major ones, of your business before you start could spell doom for new startups.

http://hollalaycan.blogspot.com.ng/2015/06/no-capital-or-fund-7-ways-to-earn-money.html

Error Number 7 - Failure to make marketing of utmost importance

A lot of new businesses have failed to attract any clients because entrepreneurs start

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A FREE BUSINESS PLAN/FEASIBILITY REPORT FOR THE SET-UP OF NYLON AND POLYTHENE BUSINESS IN NIGERIA

A BUSINESS PLAN FOR THE SET-UP OF A NYLON AND POLYTHENE BUSINESS IN NIGERIA

1. INTRODUCTION

Nylon printing business is one of the most commonly known businesses and it has stood the test of time as a result of the growing demand for nylon bags for a wide range of domestic purposes such as shopping, bagging, and covering, manufacturing businesses require nylon in large quantities for wrapping and packaging their products.As the world is going corporate, the need for packaging is increasing every day. 

Packaging improves image and branding of a product, hence the need for shopping bags. Almost every business uses shopping bags these days ranging from supermarkets, eateries, banks (cash bags), boutique, and bookshop to road side shops thereby creating large demand for the product. Polyethylene products enjoy both national and international patronage. In fact, it is one of the fasted selling consumer goods in the country today. This is because its demand has a relationship with the level of demand for other goods. The product is demanded all year round and not affected by season; nevertheless, it has a greater demand during the raining season.

2. SUCCESS FACTOR OF THE BUSINESS

Polyethylene products enjoy both national and international patronage. In fact, it is one of the fasted selling consumer goods in the country today. This is because its demand has a relationship with the level of demand for other goods. The product is demanded all year round and not affected by season; nevertheless, it has a greater demand during the raining season.

3. CAPITAL AND RAW MATERIALS REQUIRED

Basically there are two types of nylon namely the low and high density nylons. The low density nylon is the nylon used for wrapping bread. It is also used by dry cleaners and in pure water production. Generally, low density nylon because of their thickness does not make noise when squeezed. It varies in thickness depending on the purpose for which it is being used and what the customer wants.

As a matter of fact the capital involved depends largely on the financial capability of the investor. If you have small capital, you can start with the locally fabricated machines, semi-automatic machinery or better still you can start with buying the raw materials while the extrusion/blowing of the raw material, cutting, punching and printing aspect of the production process would be taken care of by other companies. The only thing to be done is marketing of the finished goods and a significant mark-up will still be achieved. On the other hand, if you can afford the cost, it is best to acquire a fully-automatic machine, which is much more efficient and profitable because aside your own productions, you can as well get jobs from outside.

The machines required to start nylon processing plant includes but not limited to:-

1. EXTRUDER FILM BLOWING MACHINE: - This is the machine which turns the raw materials (Master Berg, Escorene, DOW, B.A.S.F, etc) into a liquid form and later to polythene sheets in whatever color or thickness desired.
   

   
2. CUTTING  AND SEALING MACHINE:- This is the machine which cut the polythene into various sizes, it also seal the nylon according to specifications.
   

   

   
   

   
3. PUNCHING MACHINE:- This machine is used to create holes, handles and specific carrier shapes of the polythene.
   

   
4. A Generating set (40-60kva).

The major raw materials are petroleum products and master Berg. Master-Berg is the color matter added to the polyethylene by products to give its various colors. The production process of polyethylene sheet is simple but technical. The raw material (either B.A.S.F or Escorene or DOW) is poured into the heating and melting unit of the extruder machine. This is heated, melted and converted to a liquid substance, which is blown under pressure through a passage and simultaneously cooled in the process by an air generating apparatus. Producing polyethylene sheets directed by a series of rollers converting it into bales in the output unit of the extruder. The sheets are now taken to cutting and sealing machine and subsequently to the handle-cutting machine.

4. MARKET FEASIBILTY

The demand for polythene shopping bags has been identified to continue to expand as the standard of living of the over 160 million population growing at the rate of 5.7% per annum continues to surge. The supply gap situation in Nigeria has created a market gap estimated at N 2.7 Billion annually in revenue. A growing market exists for the production of polythene in Nigeria because of the relative high demand for other goods. The product

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10 Things You Must Do to Grow Your Online Business in the First Year

1. Carefully target the online audience. 

E-commerce depends largely on a reputable, accessible online presence. To be recognized as such, businesses must make themselves available to those who are most likely to notice. Identify the demographic characteristics of consumers who will benefit from relevant products and services, and base marketing strategies on these details.

Read More here............10 Things You Must Do to Grow Your Online Business in the First Year

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3 VITAL TRAITS OF SUCCESSFUL BUSINESS ENTREPRENEURS

I woke up this morning with a very high spirit and in anticipation of calls from prospects from within and outside the country. I have been lucky these days to receive service request from people outside the country, at least I receive more than ten calls on daily basis for one service or the other, a client came in from India on Monday and he was impressed meeting me after long chats and conversation online. Some other clients from abroad have paid me for business plan on Nylon/Polythene set-up in Nigeria even though they have not met me in person. Likewise, my lawyer partner called from Abuja that some of our client’s names we put in for search at Corporate Affairs Commission had been approved for registration, all these are affirmations that ‘’winners never quit and quitters never win’’. In all of these, I found certain traits helpful in keeping afloat if you are a business entrepreneur and these traits are:

1. CONFIDENCE IN SELF

This is that supernatural control of having confidence in oneself and in one's powers and abilities.

2. SUCCESS ORIENTED

Achievements are gained by focused and sustained effort. They concentrate on achieving a specific goal, not just accomplishing a string of unrelated tasks.

3. RISK TAKING

Successful business entrepreneurs realize that there is a possibility of loss inherent in achieving their goals; nonetheless they have the confidence necessary to take calculated risks to achieve their goals.

Business entrepreneurs are individuals who will make decisions, take action, and think that they can control their own destinies. They are often inspired by a spirit of self-determination which leads them to believe that their success depends on rare effort and uphill struggle, not luck.

Hence, which of these three traits is the most significant? Trust me, it has to be self-confidence. With no self-confidence, nothing else is possible. If you don't believe in your capability, then the first hurdle that arises may knock you off the passageway to achieving your goals.

You can maintain a higher level of self-confidence if you keep these two things in mind:

POSITIVE THINKING

Well, it all starts with a optimistic attitude, doesn't it? Believing that something good will surely happens is the first step. Pessimistic thinking simply is not allowed. You must truly believe that there are no conditions strong enough to deter you from

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10 JUSTIFIABLE REASONS TO DISCHARGE AND ACQUITS LEKKI GARDENS AND RICHARD NYONG

1.    FALLIBILITY: The Owners of Lekki Gardens are Human being like you and I, the ONLY one devoid of imperfection will be the Almighty God. Why not temper mercy with justice in this unforeseen calamity? I can bet my life on this, Lekki Gardens or Richard Nyong will never wish to experience such an unseemly publicity stunts with human lives, it is an error that could happen to the best of engineers anywhere in the world. The memory of crane collapse at mecca which killed at least 107 people and injured almost 400 during a severe thunderstorm accompanied by violent winds is still fresh in our minds, this is a sacred place where projects are handled by the best in Engineering and real estate development skills, unfortunately the accident happened and ONLY God knows why it does at that important period during the pilgrimage.

2.    BASIC NECESSITIES OF LIFE: Lekki Gardens is a service provider in one of the 3 basic necessities of life i.e; food, clothing and shelter. They belong to the real sector of the economy whose demand is high and government has never been able to meet up with their socio-economic responsibilities to the teeming masses. An entity like Lekki Gardens and its owners needs be encouraged to do more through our support when things go awry unexpectedly.

3.    NIGERIA’S GDP CONTRIBUTOR: According to a report in 2015 by Accounting and Auditing firm PricewaterhouseCoopers (PwC), “the Nigerian real estate sector is growing at a rate of 8.7 percent, which is faster than the average GDP growth rate of 7.4 percent”

Lekki Gardens and Richard Nyong are among the biggest contributors to Nigeria’s GDP and the more reason prosecutor needs to be careful by not “throwing away the baby with the bath water”. Government at all levels are looking for ways to enhance the operations and production capacity of critical sectors of the economy such as real estate in order to boost the GDP of Nigeria’s economy, so why not re-evaluate the events that led to this unfortunate incident and come up with corrective cum preventive measures to avert future occurrence instead of “killing mosquito with a sledge hammer”.  

4.    EMPLOYMENT CREATION: Real Estate business is the one of the biggest employer of labour and provides employment to large number of the populace. I can boldly reveal to all who cares that I became a graduate, paying for my school fees from real estate jobs, I was a maison, Tile and interlocking paving stone installer, House painting and decorations. While In the service of Guaranty Trust Bank Plc, I usually take up project management jobs during my leave/vacation, I happen to supervise the first Multi-links base station in Enugu. Even after I left Gtbank, I was a project manager on several real estate projects in Abraka, Makurdi, Badagry and Ikorodu. The last was an access road project in 2014 at Sangotedo beside LEKKI GARDENS ESTATE, Lekki.  Lekki Gardens and Richard Nyong employs over 500 persons directly and 100,000 indirectly, can we afford to make life miserable for such families benefiting from his economic contribution?

5.    INVESTMENT OPPORTUNITIES: A lot of investment opportunities abound in real estate development sector of the economy. When you buy or build a house, and lease out to tenants, that property starts to earn you rental revenue (monthly or yearly depending on the treaties with your tenants). With increasing yearnings for affordable housing units and ever growing inflation rate, rental values are always on the increase. Higher rental prices mean more profits for you, the owner. Compared to other investment options, the revenue from real estate is the most consistent. Lekki Gardens and Richard Nyong has created a wide range of investment opportunities for banks, Surveyors and valuers, corporate organizations, Insurance brokers, etc.

6.    TAX BENEFITS TO GOVERNMENT: Property tax plays a critical role in state and national development, property tax is a levy on immovable property, such as land and buildings, usually paid by the owner to the state. This form of taxation is closely associated with financing government projects because of the immediate connection between property values and services funded at the local level. These services may include the provision of potable water, street lighting, waste management, security, and the maintenance of public parks, schools and roads. Lekki Gardens and Richard Nyong must have contributed a sizeable value in property tax to states where their real estate projects are sited. Why not give this indigenous firm and this young man a chance to contribute to the taxation drive of the economy.

7.    SOCIAL INFRASTRUCTURE DEVELOPMENT: Real Estate developments usually contribute to the communities their projects are located at, by providing infrastructure, employment, Skills Training and Development. Most of the host communities have attested to the fact that the presence of Lekki Gardens in their area has opened up their access roads neglected by the government. Most communities whose lands are acquired for real estate developments have found solace in firms such as Lekki Gardens and the likes. Directly or indirectly, real estate companies have provided more social infrastructures than any known philanthropist in Nigeria today.

8.    CREATING HOME OWNERS THROUGH MORTGAGE: Mortgage Home Ownership is an arrangement that is offered through acquisition of property with intending owners making an equity contribution of about 20-30% of the total cost of the property and deferring the mortgage loan amount for periods between 5-30yrs. Many people have benefited from this mortgage arrangements from real estate companies such as Lekki Gardens, the dream of becoming a landlord would have just been illusions save for the magnanimity and patriotic zeal for human developments of private estate development firms. It is a known fact that governments alone could

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http://Bank%20of%20Industry%20(BOI)%20Graduate%20Entrepreneurship%20Fund%20(GEF)%20for%20NYSC%20Members

Bank of Industry (BOI) Graduate Entrepreneurship Fund (GEF) for NYSC Members

http://Bank%20of%20Industry%20(BOI)%20Graduate%20Entrepreneurship%20Fund%20(GEF)%20for%20NYSC%20Members

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HOW TO SURVIVE WHEN LAID OFF FROM YOUR CURRENT JOB

In the world today, it seems as if layoffs are increasing in popularity.  Lay-offs are something that you regularly hear in the news.  As more businesses are forced to downsize, you may find yourself laid off from your job position. This condition may be permanent or temporary; it often depends on the needs and discretion of your employer.  Either way, should you find yourself laid off, your struggle still continues. 

When it comes to lay-offs, one of the questions commonly asked is “what should I do?”  In all honesty, there is actually so much to be done in the event that a JOB is lost.  For starters, you should have clear reasons to first examine your qualification and area of expertise, your personal savings and investments plus your pension contributions. Identifying the aforementioned will provide a succor to you and your family in the interim.

If you are laid off from work, you should find out if you are entitled to laid off benefits or compensations, especially if you did not commit any criminal or fraudulent offences. And be conscious of the fact that the job is not yours for life and it will one way or the other comes to an end one day. Your severance package or laid off benefits is intended to serve as a palliative to cushion the shock of Job loss. That is why you will want to start taking action to help you find a new job, possibly the sooner the better.  The first step in doing this involves creating a resume for yourself.  You can either craft your own resume or you can engage a professional resume writer to do the job for you.  Either way, you will want to ensure that your resume is one that will turn company heads.

Once you have a resume in hand, you should then start examining all job openings in your territory.  When looking for job, it is advisable to use the local journal or the internet for your search.  Career hunting websites are nice and easy tools to find and apply for jobs online. For your own safety, you should be careful in giving out confidential information to any company or job recruiting firms that you have never heard of before or unable to research their details online.

If you are a little bit nervous sourcing for a new job, you should know that you are not alone in that feeling. Finding a new job can be a stressful process, especially when it comes to time for an interview. That is why you may consider talking to friends, colleagues or family members who has had such experiences. This practice, if done enough, will help to reduce the anxiety often associated with location interviews.  You may also discover that you are able to give better answers, as well as building better confidence at your next interview.

If you are unsuccessful in your job search, you may consider registering with certified

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HOW TO BECOME A MILLIONAIRE FROM NYLON/PLASTIC/POLYTHENE RECYCLING BUSINESS

Dollar scarcity: Manufacturers turn to local raw materials….The Punch News

INTRODUCTION

Wastes ordinarily refers to everything that no longer has a use or purpose and needs to be disposed of, however, according to The U.S Environmental Protection Agency, it defines solid waste as "any garbage or refuse, sludge from a wastewater treatment plant, water supply treatment plant, or air pollution control facility and other discarded material, including solid, liquid, semi-solid, or contained gaseous material resulting from industrial, commercial, mining, and agricultural operations, and from community activities." Based on this definition, examples of solid waste generated by veterinary clinics include, but aren't limited to: animal tissues, fluids and carcasses; animal waste; chemicals used in laboratory, cleaning or radiographic procedures; syringes and other medical supply waste; some medications, such as epinephrine and nitroglycerin; chemotherapy agents; mercury from thermometers; light bulbs and batteries; pesticides; paint and other solvents; and more. While wealth according to www.businessdictionary.com generally refers to General Tangible or intangible thing that makes a person, family, or group better off.

Lump Waste

Wastes generally have been a major environmental menace in many parts of the world, majority of the wastes generated by the plastics and allied materials are non-biodegradable unlike wastes from woods, papers, water, human excretions, foods etc. Apparently, under-developed and developing economies bears the greatest burden of waste hazards, some of these countries are seen as dumping grounds for all classification of wastes such as e-waste, agricultural waste, bio-waste, industrial waste, human waste and all kinds of waste imaginable. In Nigeria today, there is hardly any state of the federation not faced with the challenge of nylon and plastic waste management.

The Lagos state government through LAWMA has taken the bold step by establishing various waste plants across the geo-political zones of the state, we have such plant at Adeniji-Adele on the Island, we have at Olusosun dump site at Oregun, and there is waste transfer plant at Igando on LASU-Isheri road, Waste loading and Transfer at Oba Ogunji road Agege and others in different locations.

 
Many things should be taken into consideration when starting plastic/polythene/nylon recycling business.

The most common questions are:

- Is this a thermoplastic?
- Which one?
- Is it only one kind of plastic?
- If more than one, are they compatible?
- Is this font of scraps constant and reliable?
- How much this scrap costs?
- Which is the market for the finished product?
- How much can I sell the finished product for?

Recycling Machine

Unfortunately, administrators and stakeholders at all levels of governance in Nigeria are today still confronted with the burden of Nylon and plastic wastes management, used nylon shopping bags, pure-water sachets and pet bottles from different product brands, this environmental menace is a common eye-sour on our roads, drainages, streets and work areas causing hazards in terms of pollution, flooding, impeding free flow of water channels and ultimately aiding the spread of communicable diseases via stagnated water impurities. As a result of these environmental challenges,

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How To Start Your Own PROFITABLE Before The End Of Year 2016?

I have been away for some time because I got engaged with some task to supervise and manage NEW BUSINESS SET-UP ideas I sold to some clients in the course of writing articles about small business and entrepreneurship prospects. 2016 has been a year of mixed blessings as I will write about the challenges and successes I attained in the preceding year as we gravitate towards the end of year 2016, I will Endeavor to share some of the business ideas I tried, those that failed and the ones that brought reasonable income.

I hope there will be enough time for me to write more articles before the end of 2016 as I have a whole lot of consultancy services in waiting already and this might perhaps required me travelling out of Lagos for some period of time, however, I will try as much as possible to give my very best as event unfolds.

There are many reasons for wanting to start your own business, and most of us get to this point in life where being your own boss is the next best decision available.  Irrespective of the motive behind such a move, one of the following reasons should be the motivating factor for desiring to be your own boss.

Ø Freedom from daily routine.

Ø Doing what I want when I want.

Ø Improve my living standard.

Ø I want creative freedom.

Ø I want to fully use my skills, knowledge and education.

Ø I have a product/idea/service that people need.

Ø I’ll have more time with the family.

Ø I won’t have a dress code.

Ø There are good tax breaks for business owners.

Ø I want to be my own boss.

Ø I want to make the decisions.

Though, there are many challenges associated with floating an entrepreneurial venture but the fulfillment inherent in self-employment far outweighs the challenges. I know about myself and many old colleagues that had left the corporate 9-5 salary jobs for personal businesses and have found fulfillment afterwards. Perhaps, 2016 financial and economic year could be the turning point you have ever been dreaming about, why don’t you take the bull by the horn and start a small business even though you start operating from home.  

For your Business Registration, Business Plan, Brand Marketing, Business Proposals, Strategic Business Development, Content Management, SMS and E-mail Marketing, Expatriate Quota/Work Permits, SMEs start-up.

Contact us at:

Prospective Ideas Nig Ent

5, Atunwa Street Off Unity Rd,

By Custom Training School

Ikeja.

Lagos - State.

+2348034201291; +2348170327317

ideasandprospects@gmail.com;

lekanolanite@gmail.com

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HOT 40 SMALL BUSINESSES YOU CAN START WITH LITTLE OR NO CAPITAL IN 2020

It is becoming increasingly difficult to make ends meet with just one income source. Thus more and more people are investigating the possibilities of starting their own extra income home business. Most of these part time endeavors are started and operated from the comfort of their home.

Before you start: the first thing you must do however is some basic market research. Find out for yourself, first-hand, just how many people will be interested in your proposed products or services, and would be willing to stand in line and pay money for it.

This is known as defining your market and identifying your prospective customers. If after checking around telling people about your ideas, with a whole lot of people over a period between 1 – 3 weeks, you get the idea that these people would be paying customers; your next effort should be directly towards the “detailing” of your business plan.

IF CRAFTING A BUSINESS PLAN WILL NOT LET YOU KICK-START A BUSINESS, I WILL TRY AS MUCH AS POSSIBLE TO GIVE A STEP BY STEP GUIDE TO WRITING A BUSINESS PLAN AND ALSO GIVE YOU SAMPLE OF A BUSINESS PLAN I DEVELOPED.

The more precise and detailed your plan covering all the basis related to how you will do everything that you needs to be done- the easier is going to be for you to attain success. Such a plan show your start-up investment needs, your advertising plans, your product costs and procedures, your sales program, and how your time would be allocated.

Too often enthusiastic and ambitious entrepreneurs jump in on an extra income project and suddenly find that the costs are beyond their abilities and the time requirements are more than they can meet.

It pays to lay it all out on paper before you get involved, the clearer you can “see” everything before you start the better your chances for success.

Have you always wanted to become your own boss and take control of your time, work at home using your spare room/space, backyard or your one room apartment as an office and residential but never had a clue of money making ideas to pursue your dream? You do not have to wait for manners to fall from heaven before you take first step to financial liberty, just one of these money-making idea can be your blueprint for success. The list is not exhaustive but I believed you can pick an interest in one or two of the businesses listed

1. CONSULTANCY SERVICES: - This is the foremost of the small businesses one could ever think of; one can basically consult on almost anything and everything. Just think of any special skill in your possession and pronto, you can make a reasonable income from it. E.g. marriage counseling, business consult, legal consult, property consultancy, educational consults media consultant, etc. One do not have to possess any capital to start consulting, just some contacts on your phone, email addresses and referrals from family and friends, you are good to go.
   

   
2. RESTAURANT: - No matter how poor people may be, food still remains the number one basic necessities of life before clothing and shelter. If you can do it right, it’s one of the surest way to crossing the poverty line. If you are still in doubt, please visit Equal Right in Somolu, Amala Sonola in ogba Aguda, Ewa-Agonyin palace in Unilag etc. With a capital between N50K – N100k, you should be making a residual income from it.
   

   
   
   
3. FASHION AND TAILORING SERVICES: - From time immemorial fashion business has been dynamic and ever present. From Paris to New-York, Milan to Lagos, Beijing to Joburg, fashion statements defies national/ethnic boundaries. Different occasions demand special outfits, one easily take advantage of the trend in fashion consciousness of the people to earn a decent living. See https://www.facebook.com/bazzancouture?ref=hl
   

   
4. REAL ESTATE AGENCY: - By finding properties for prospective clients, you perform a valuable service for both landlords and tenants. Advertise that you have listings available for houses, apartments, flats, rooms, offices, etc. You can either charge a one-time fee for finding accommodations or work on a commission. In this line of business, capital or professional qualification is not really required as a start-up, just have the right information.
   

   
5. RENTAL BUSINESS: This has mushroomed into an attractive new business opportunity. People like to borrow, do-it-yourself rent professional equipment. Many people are doing well these days by acting as rental agents for all manner of things - power tools, trucks, cars, electric generators, etc.
   

   

6. LAUNDRY/IRONING SERVICE /CLOTHES CLEANING: Everyone has dirty clothes for laundry and ironing, but many of us do not have the time to do it all, this is where you would come in and make money by doing all the laundry, especially areas where power supply is erratic. If your backyard is large enough to store all the clothes, sort the clothes and start making money, then this business could just be for you. With a capital between N20K – N100K this business could turn you to a millionaire over a period of time.

7. HOUSE CLEANING SERVICE: Many home-owners and apartment dwellers will welcome help at "house cleaning'. Charge a flat fee for the amount of work that must be done. Make arrangements with firms that provide workers for washing windows, cleaning carpets, washing walls, painting, etc. and collect a commission from them. Tell your friends and family who are moving to a new house or changing offices, with the help of flyers or handbills you could reach out to a large audience.
   

   
8. MAKE AND SELL CUSTOMIZED JEWELLERIES AND BEADS: Home-made costume jewellery sells, sell directly to jewellery outlets, gift shops, hairdressers shops, clothes boutiques, and by direct mail. It is possible to start with limited capital of N5K- N20k.
   

   
9. GAME CENTERS: The game center concept is good both for those who have jobs and those who want full time involvement. A game centre is a place where people mostly young come to play computer basic games like play station, Nintendo, Atari, etc. You will also provide avenues for refreshments like ice cream, snails drinks etc. Gaming centers charge customers who come to their centers between N100.00 – N500.00 depending on the area, and the types of customers you are dealing with. If you start small, you can make between N5k – N20k per day. There is a classical game center at Mende by Maryland, it is built with a portal cabin and looks beautiful as well.
   

   
10. FISH FARMING: If you have been contemplating on a small business and haven’t heard about fish farming, then you are missing something. Over the years, quite a few people have made fortunes from fish farming; as the population is swelling and protein needs are far outstripping the available supply, fish meal is always a winner if done well. Fish farming is a sure bet business if you put the right structures in place. More and more people like fish due to its low cholesterol protein, All you need do is to get a space, buy or construct tanks, buy finger lings for between N10 to N20 and feed them for 4 to 6 months, then sell from between N1500 to N2000 depending on weight and size. But you need to have a basic knowledge of fish farming to start this.
    

    
11. WEBSITE DEVELOPMENT: Experience, training or licensing may be needed. Many courses exist (many of which, logically, are offered online) where you can learn the language of website creation and can learn about the details, like how to set up shopping cart systems, security concerns, etc. But lately we have seen ready tools on some hosting site like wordpress, ipage, simplesite and so on, on this hosting site are ready tools for even the novice in web design. You will, of course, need to learn about each company you design for. What is the atmosphere of the company that you need to reflect in the website design--is it wild and contemporary, meaning brilliant colors and fun graphics? Or will more classic colors like black, navy blue and maroon is more appropriate? Many small businesses in Nigeria does not have a web presence, even the bigger corporations only possess a web banner or billboard, you can propose an interactive website to small businesses at a cheaper rate of say N10k or more and start building your client lists from there. This business requires little or no capital to start.
    

    
12. DAY CARE: If you are the type that naturally loves kids around, this is an opportunity for you to tap into. Perhaps you have children of your own and the idea of taking care of a few more for part of the day appeals to you. Child-care needs continue to soar in this part of the world as the task of professional career seems to be more demanding. Many people prefer the option of their child being cared for in a home environment while they are at work, opposed to a more institutional-like setting. These things mean that a home based childcare business can get off and running immediately. If you are living in at least a 3bedroom apartment and there is
    

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