How to Come Out of Recession
In the last 24 hours there has been a buzz in the cyberspace with the visit of Google CEO, Sundar Pichai, with a mission of harnessing opportunities with the promise of training millions of Nigerians, all aimed at further advancing the bottom-line of the global company in the long run and also the visit of Mark Zuckerberg CEO of Facebook a few months back. The visits by these tech “heavy weights” are simply pointers to the fact that abundance breeds in lack and lack can also translate to abundance. If we may ask, why will the two Billionaires visit a country, which we have been made to understand that nothing works, a country that seemingly have no future and synonymous with corruption or as some misguided youths will say, cannot even produce common tooth-pick?
It however depends on discerning hearts to see beyond the gloom and doom and tap into the prospects, possibilities and opportunities that are off shoots of recession. Coming out of recession therefore implies forsaking the traditional mentality and mindset that has held us down as a people for many decades, particularly the teeming army of youths and embrace entrepreneurship, with special focus on the digital and knowledge based economy. There are many businesses which can be started with a determined mindset, knowledge and the right skills and little capital, which with the miracle of the multipliers effect will spiral into multi- million other businesses, thereby permanently curing the malaise that has become our lot as a people and as a nation.
However, as Nigeria’s economic sphere slowly but gradually changes, its economic structure needs more diversification to overcome its sole dependency on oil. It is this shift that will open up the playing field for a new generation of entrepreneurs in Nigeria. People, who can identify business opportunities in Nigeria, know that the oil industry and being in government is not the only business or way that you can enter and make money from.
We therefore present to you some of the great and amazing businesses, which anyone with as much as a “tiny brain” can start and become the next generation of Dangotes, Elumelu’s, Okoyas amongst others.
1. E-commerce – This is a very promising venture and the best thing is, you will have all the tools and customers over the web. If you do not have the required knowledge, you can collaborate with an established firm to operate your e-commerce enterprise. Benefits are – Low start-up costs, changes can be made instantly, the potential customer reach, and you can easily measure results with cost affective online marketing. The success stories of Jumia and Konga should serve as a motivation not a threat.
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2. Online tech support – You can easily set up an online tech support business and make a lot of money within a year or two of your business launch. This is a simple business and you do not have to be a tech expert to operate in this sector. I’ve known people set up these types of businesses, and outsource the work to tech professionals.
3. Sports viewing centre – The number of sports fans in Nigeria just keeps increasing by the day. You have a fallow piece of land in your area that is free for use? There are many youths passionate about sports in that area, and there is no sport viewing centre? That’s an opportunity. Take it. Believe me, the EPL season is at the corner, you don’t want to miss this.
4. Game centre – Do you have youths in your place hanging around most of the times and looking like they can do with a source of entertainment? You can open up a game centre and keep them occupied. You keep the community safe and your pocket safer.
5. Blogging – Who can be a blogger? Anybody can. Provided you have a passion for something and you can translate it into writing. So are you a great storyteller? A comedian? A poet? Have an abiding interest in something nice? Can write about this? Try owning a blog. It’s cheap to set-up and easy to manage.
6. App development – The world no doubt has gone digital, and there is almost an app for any task. There are also new apps that can be developed to meet the needs of local businesses. So put on your thinking cap and step up your game.