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Showing posts with the label business

Distributorship Business in Nigeria

Distributorships are businesses selling goods or services directly from producers to consumers without going through intermediaries. In Nigeria, distributorships are common because they allow companies to bypass expensive import duties and other taxes. Here, we'll discuss everything there is to know about the distributorship business in Nigeria. Nigeria has a large manufacturing sector, accounting for over 50% of its GDP. The country also imports many raw materials, such as oil and steel, which makes it vulnerable to fluctuations in global prices. "A distributor is someone who buys products at wholesale prices and sells them at retail prices," says Olayinka Ogunseye, CEO of Eko Distribution. "It's a win-win situation for both parties." So, if you're interested in being a distributor in Nigeria, follow along! How to Become a Distributor in Nigeria Choose a Niche The first step in starting up your distributorship business in Nigeria is deciding on a nich

Cosmetics Business in Nigeria

  How much does a cosmetics business in Nigeria cost? What should I consider before starting my own cosmetic business? These questions could run through the mind of anyone wishing to start a cosmetics business. Cosmetics is one of the fastest-growing industries worldwide. In 2017 alone, global sales reached $1.7 trillion. The beauty industry has also grown significantly over the last decade. According to research, the global cosmetics industry grew at a CAGR (compound annual growth rate) of 6% from 2010 to 2016. With the increasing demand for personal care products, the cosmetics industry in Nigeria is expected to keep expanding. This makes it one of the most significant sectors in the country's economy. If you want to start the cosmetics business, read our guide below. It contains everything that you need to know as an entrepreneur. What are Cosmetics? The word "cosmetic" comes from Greek and means "beautifying medicine." Cosmetics are products used to enhance

Cement Business in Nigeria

  Every building needs cement, making its market demand high. If you wish to start a cement business in Nigeria, you're on the right track. However, you can't suddenly start any business without proper knowledge and planning. This article discusses everything there is to know about the cement business in Nigeria, ranging from the cost and steps to take. Cement Demand in Nigeria The demand for cement in Nigeria has increased tremendously over the years, and the increase in population and industrialization have caused this demand. Many industries use cement, such as construction, manufacturing, and mining. So, the need for cement is high because it's used in almost every industry. Other factors affect the demand for cement. For example, the Nigerian government has been working hard to improve infrastructure by constructing roads, bridges, schools, hospitals, and other buildings. These projects need cement, which makes the demand for cement high. Another factor affecting the

Logistics Business in Nigeria

  Every day, Nigerians keep thinking about what business to do to bring some food to the table, and the logistics business is another one. The logistics business in Nigeria has been growing fast because of the increasing demand for goods and services by people across the country. Have you thought about starting this business but don't know where to start? I'll guide you through everything you need to know in this article. Follow along! The Logistics Business The logistics business is an industry that deals with moving things from one place to another. It involves businesses like trucking, warehousing, transportation, and more. There are many ways to run a logistics business. You can either work as a sole proprietor or partner with other companies. If you're planning on starting your own business, you should know the risks involved before you start. These risks include: Lack of capital Poor management skills Bad credit history No experience High costs Low-profit margins Un