9 reasons why you should start a business in nigeria

BIlal Abdullahi August 24, 2020

0 5 minutes read

There is no doubt that Nigeria’s startup sector has been vibrant and vibrant in recent years, and there is no doubt that a lot has happened with many local launch success stories. Why can’t you find inspiration?

Now it is quite formal. Let’s roll the ball back by qualifying the term “launch” as technical. I prefer to define and label startups from a motivational or technologically active point of view as a startup or a company that seeks to solve problems with a clear business model. Are you following??

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Well, let me clearly state the benefit of entrepreneurship in Nigeria and why you should launch your startup today. In Nigeria today, the job market for new graduates looks grim.

Unemployment can be seen in the eyes of most job seekers. Particularly after youth service, after endless work search. Did someone ever tell you that NYSC means “Now Your Suffering Commences.”

“The current population of Nigeria is 206,844,330 as of Monday, August 24, 2020, based on Worldometer elaboration of the latest United Nations”

But in Nigeria about 25 million graduates are out of work. This is just estimates, the actual figure can be way above that.

Become an entrepreneur or start something

Learn a skill, be it handwork or digital skill. Just learn something to escape the trap of unemployment after graduation.

At first, no one said it would be easy, but these days it’s so much easier to get started and make a living, than deciding to do nothing but find a job, fill out an application and submit a resume.

Now, Enough of the grammar. Let’s look at 9 reasons why you should start a business in Nigeria. You are the boss!

Contents hide

1 Here are 9 reasons why you should start a business in Nigeria

1.1 1. More money

1.2 2. You can help develop your community

1.3 3. You work with who you want

1.4 4. You can pursue your passion

1.5 5. You can improve your Industry

1.6 6. You Can Grow and Challenge Yourself

1.7 7. You Can Balance business and Personal Life

1.7.1 8. Health issues

1.7.2 9. You can be a mentor

2 These are the top reasons why you should consider going into entrepreneurship

Here are 9 reasons why you should start a business in Nigeria

According to a global study published in 2008 by the Journal of International Entrepreneurship and Management, independence is one of the most common reasons people start their own businesses.

Being the boss of your business means making decisions every day about how best to run your business. When you work, you decide how you work, what to do, and ultimately become the engine of your company’s culture and brand.

Become an entrepreneur — Develop a business mindset

1. More money

Starting your own business gives you more opportunities to make more money with your hard work and results.

A successful business can make a lot of money. According to Forbes, microsoft founder Bill Gates has a net worth of $115.1billion as of 8/24/20.

In fact, some small startup owners earn more than the monthly salary of an average worker.

However, this is not the case if you work in a workplace with a specific pay structure.

2. You can help develop your community

When you start your own business and become the boss yourself, whatever product or service you offer, you can add value to people in your community.

There are opportunities to donate to charity, create jobs and change the world for the better.

You can take a leaf from the likes of Dangote, Bill Gates who through their foundation have donated billions for the betterment of the communities and the world.

They have also empowered a lot of people through the foundation. You see having your business means you can set aside part of your income to help people.

Business lady working with her staff — Become a decision maker

3. You work with who you want

Owning a business means choosing who you want to work with. Also connect with like-minded people who understand your vision and exclude negative people from your space, when you own your business you choose who fits your business, who shares your vision.

Unfortunately, you cannot do this at work because you work with people who you are assigned to and you can’t make a fuss about it. However, when you run your business you do everything at your conform zone.

4. You can pursue your passion

Starting your own business is an opportunity to do what you love. Most entrepreneurs who love what they do have a passion for work that makes their job enjoyable.

Are you passionate about something? You may have a special flair for writing or baking. Start your business today and strive for a more satisfying life.

5. You can improve your Industry

One of the main drivers of the global economy is innovation through new technologies. Starting your own business can innovate and solve new problems in the industry and, ultimately, in the economy. Who knows Your business can be the solution to Nigeria’s problems for life.

6. You Can Grow and Challenge Yourself

Starting your own business means taking on many responsibilities. But here’s the fun part. You must face challenges, face them and overcome them by running your business.

Whether it’s sales, management or innovation, you can learn something new every day. There are many ways to grow and develop yourself in business.

7. You Can Balance business and Personal Life

Most salaried workers will complain about such struggles, and now is the time to find a balance between work and personal life.

One of the biggest benefits of starting your own business in Nigeria is flexibility. Having chance to choose working hours is another advantage of running your own business in Nigeria. You can make time for your family and friends to live a more balanced life!

8. Health issues

Health is really wealth!. Here are some things I did years ago but I couldn’t anymore, You mostly hear workers says “People who value their health refuse to work for others“.

However, this does not mean you have the money to become a medical entrepreneur, but most health problems stem from stress and lack of rest, so if you own your business it gives you enough rest to avoid unnecessary illnesses and enough time to watch your health.

9. You can be a mentor

Starting your own business can give you a head start in this area. By acquiring all the knowledge, skills, and experience in your field, you can train aspiring entrepreneurs on how to become successful business owners like you.

These are the top reasons why you should consider going into entrepreneurship

Start your business now! The possibilities are enormous and also very great.
Don’t know how to start, where to start from, how to go about it. Don’t worry, the answers are here.

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