Be a small business owner and overcome poverty

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By Peter Osalor

A GREAT small business always starts out as an idea, but you have to transform that idea into action. That’s where many individuals can start to feel overwhelmed.

It’s understandable to freeze up at the deluge of things that are required to get a business started, but getting going is actually easier than you might think. Like any big goal, if you start by breaking it down into smaller tasks, you will be able to tackle enough of the actions necessary to get started with your small business.

The years of oil windfall are gone, shall we have another FESTAC? Obviously No!

We have depended on oil, but oil cannot now feed us, as we cannot give our children oil to drink when they are hungry.

Our youths are hopefully waiting for government for employment; while those under government employment are scared of their jobs; their salaries are not sure to be paid at the end of the month as some workers have not collected their 3 months’ salary.

The only way you can be free from unemployment, non- payment of salary and hunger is be a small business owner. Owning your small business does not mean you should quit your job. You can own your business while under employment. All you need is good management strategy.

Businesses you can start: The small business can come from Manufacturing, Production, farming etc. In farming alone, there are lots of businesses you can start and over -come poverty. Poverty is a curse.

We have Rice farming: Nigeria has one of the world’s highest Rice consumption statistics. Rice is by far one of the most popular staple foods among Nigerians, almost every family eats rice daily..

According to CBN report 2016, Nigeria spends $2.4 billion on rice importation in 3 years.  And the rice we import is said to be nothing less than 10 years old in storage. That means we spend billions buying rice that has since lost its nutritional value. Therefore, embark on rice farming and make your good money.

Poultry farming

Everyone knows how “cashy” poultry farming is. Nigeria consumes chicken and eggs more than anything. Most of the chickens consumed in the country are imported. We have enough market for poultry business, but we are busy creating business and job for another country in the name of importation. According to Nairametrics, it cost Nigeria N 660 billion to import frozen chicken in 2015.

Integrated poultry

Goat rearing: It’s only in the North that goat is reared in commercial quantity. I don’t know why we underrate farming investment in the south even though there are millions to be made in this business.

Why would you choose to sell used shoes in Oshodi, Lagos and make few thousands of Naira yearly, than to engage in productive farm business and make millions of Naira?

In the USA and Australia, farmers are among the richest people. Get involved in the professional goat rearing and make money for yourself. A full grown goat sells between N18, 000 to N40,000.

Cat-fish farming: Cat fish business is really hyping in Nigeria right now. Nigerians consume cat fish on daily bases in millions. The demand is so high that a single cat fish sells at N800 in open market and N1, 800 to N2, 500 in Restaurants.

Another business you can start in Nigeria is bakery business. Bakery business is very lucrative and yields money. It’s a business that thrive well with high population; the higher the consumption the higher the profit. Nigeria has the population and bread is one of the most consumed products by every home in Nigeria. You don’t have to start it big, start it small with the capital you have, and then manage it well, it will grow big.

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