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Showing posts with the label business

What Business Can I Start With 5k in Nigeria?

  Starting a new business is exciting; the possibilities are endless. However, not everyone in the country has the financial capability to start one. This inability alone can discourage someone with the best of dreams; as they say, 'we can only use the money to make money.' Do you have a business idea but have little capital - as little as just 5K? Don't worry! You can always start small, and I know you might wonder, 'What Business Can I Start With 5K in Nigeria?' Nigeria's population is over 200 million, making it the sixth largest African country. So, there are enough people to market your business to, no matter how small you start. You can do businesses ranging from selling pure water, ice cream, recharge card selling, and many more. This article will take you down the lane of several businesses to start with 5K in Nigeria. I'm sure you would have decided on one business before reading through. So, follow along!   Drinks and Pure Water Selling You don&#

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