Nigeria is one of the countries on earth today with a high youth population and a high unemployment rate. Every year, more graduates are ejected into the already-saturated labour market with little or no idea of how to go about life. They are thrust into the deep end and expected to survive by instincts; no wonder some of them eventually end up as fraudsters. The lucky ones among them get snapped up by their rich and influential parents or relatives into lucrative industries, so it is a sad case of ‘the rich getting richer and the poor getting poorer’.
Today, entrepreneurship is regarded as the safest and most reliable route to self-establishment and financial independence. Given the sad state of the nation’s economy, it is now imperative for young individuals – especially university graduates – to begin exploring avenues by which they can put their skills to use in a business and become self-established.
Young graduates are faced with a lot of pressure on all fronts, and this guide will offer some insight into what they can do to become more financially independent, pending their next move in life. This post highlights the top twenty business ideas that can and should be explored by young Nigerian graduates in need of profitable vocational engagement. This is because, the economic and political system in the country does not respond to what you know, but to who you know; and entrepreneurship is perhaps the only viable way for you to cut a path for yourself.
Here are the top 20 business ideas for graduates:
Blogging is one incredible business option every graduate has at their disposal. All that is needed is sufficient knowledge about a specific area or sector (which would be the blogging niche), then a computer and internet access. You can create a free blog on any of the available free blog service providers and build capacity until you are able to build and own your own website. You can thereafter begin to earn via clicks to your page, affiliate marketing, sales of E-books and products on your website, etc.
2. Freelance Writing
if you are a good with words and know how to write quality articles, there’s no reason why you cannot make good money with your skill. Simply sign up as a freelance writer on any verified freelancing website and begin working and earning at your own pace.
3. Make-up artistry
Make-up artists rank among the top twenty highest paid entrepreneurs in Nigeria today: that’s just how lucrative the industry is! If you’re good at combining colours and have an eye for detail, there’s no reason why you cannot become a successful and wealthy make-up artist.
Jewellery-making is another lucrative business idea that anyone can engage in. Prices of precious metals like Gold and Diamond are constantly on the rise, so there is definitely profit to be made. However, success in this depends heavily on your ability to make good jewellery pieces and your ability to market and sell them well.
5. Cyber café business
Just how much do the people who type project works and assignments in Universities and polytechnics make? An awful lot! With a printer, computer system and photocopier, you’re good to go. Add ‘registration’ for popular schemes like NYSC, JAMB and WAEC/NECO to your services, and you’re sure to make a lot of money.
6. Graphics design
The demand for graphic designs is at an all-time high. These days, with only a computer and a roof over your head, you can become financially independent as a graphics designer. If you are good at graphics, then this is something you must explore.
7. Website design
Website design is another viable source of income. These days, a lot of business transactions are conducted online, which means there is an increasing need for websites. That’s where your money is!
8. Events planning
Event planners rank among the highest-earning entrepreneurs in Nigeria today. Millions of dollars each year are spent on organizing events of all sorts, and the industry ranks among the most lucrative in the country. If you are good with project management and/or in putting shows together, there is no reason why you cannot establish a successful events planning and management outfit.
Catering is all-encompassing: from regular food to pastries, cakes and confectionery. With a good business plan and the right approach to business, you could make a living as a caterer.
10. Fashion design
The fashion industry is evolving, and those who have the skill and tenacity to excel will succeed in it. If you have a flair for fashion, and you have the requisite skill, then fashion design is a good business option for you to own your time and sill earn income.
Never before has the photography aspect of the media industry looked as lucrative as it currently is. For example, a photoshoot for an amateur photographer costs between 10,000 naira and 20,000 naira. Just for a few clicks! Think about how much you will make, if you had ten of such photoshoots every day for thirty days. Do the math, please?
Some cannot write, some have no graphics skills, but they are outstanding communicators. They can talk, teach and train. Use your natural gift to earn by becoming a tutor.
13. Food vending/restaurant business
Food is an eternal necessity, and irrespective of the state of the economy, people will not stop searching for food. The high demand for food provision and delivery makes the food industry a viable avenue for smart and business-oriented individuals to make a living. Simply locate an area where food vendors are lacking and make your presence known there as a food provider. Your earnings will amaze you!
Other top-notch business ideas for graduates in Nigeria include:
14. Sports training
15. Bead making
16. Cryptocurrency and Forex trading
17. Standup Comedy
19. Software and App development
20. Product delivery business
One key factor for success is playing to your strengths. Your choice of business idea should be from the point of self-understanding, and a knowledge of your skills, capacities and attributes. If none of the ideas mentioned here appeal to you, take the time to find out what your natural skills and talents are, and find out how to turn them into a profit-making venture.