If you’re a business person in Nigeria, you are always looking out for opportunity to make more money and possibly scale your income, well here’s one way to go about it- you can go into small scale manufacturing. We curated a comprehensive list of product lines you could venture into to start making money, with a platform like cokodeal.com to help you promote what you produce, you can get more people to supply your goods.
Ankara and bag making
Match sticks or candle production
Palm oil production,
Garri production and packaging
Fruit juice production and packaging plats
Custom Beads Making
Exercise Book Production
Ice block production
Cassava chips production
Production of cold water starch
Pure Water Manufacturing Business
Processing Nigerian Vegetable for export
Frozen Chicken Production
Plantain flour production
Soap and detergents manufacturing
Leather Belt Manufacturing
Caustic soda production
Wrapping this up, there are opportunities abound in the Nigerian manufacturing sector and with the Government working towards diversification into the non-oil sect of the economy, Nigeria has started looking within. Reformations are going on in the country and especially in the manufacturing sect. It is a huge opportunity to invest in manufacturing, and with a platform like cokodeal to help source for local manufacturers in Africa, Manufacturing can be very profitable.
Did we cover everything on the list? sure we didn’t, what other small scale manufacturing business can one do in Nigeria and start selling on cokodeal marketplace? share yours.
For years business person in Nigeria, have bemoaned the slim chance of access to financial support from the government to run their business. Most SME’s have attributed their crippling growth and failure to lack of appropriate funding. This might be changing now because during this year’s IC-CUBE National youth conference, BOI announced their program to support SMEs growth in Nigeria. Here as some excerpts from the presentation:
“The SMEs represent about 90% of manufacturing/industrial sector in terms of number of enterprises in Nigeria. Small and medium enterprises are a very important part of the Nigerian economy as a study by the IFC show that approximately 96% of Nigerian businesses are SMEs (Oyelarin-Oyeyinka 2010). However, in spite of the fact that the SMEs constitute more than 90% of Nigerian businesses, their contribution to the rebased GDP of $510BN is at 45%. In a bid to address challenges hindering the growth of Small and Medium Enterprises (SMEs) , the Bank of Industry (BOI) has signed a service agreement to engage 122 Business Development Service Providers (BDSPs) to drive the SME sector in the country.”
“This is in fulfillment of BOI’s core mandate of providing long-term financial and business support services to large, medium and small projects, the Bank has decided to engage the services of Business Development Service Providers (BDSPs),”
With the business and financial advisory services to both current and prospective customers, BOI is set to make obtaining loans achievable. Improper documentation of loan applications have been a huge part of the reasons why many applicants fail to get their applications granted.The services of the BDSPs is a way to curb that, so applicants can have better chance to be granted loans. judging from the fees for consulting these BDSPs, one can say this deal is not bad at all. Here are the several BDSPs centres across Nigeria and their costs based on the amount of loan you seek to apply for on the BOI official website.
For questions, drop a comment, we will be glad to help.
Brace yourself, things are going to get really hectic! Much more than before in Africa, the e-commerce landscape is increasing and with consumers having increased access to the Internet via mobile technology and a fast-growing middle class, Africa is awake to shopping online as evident in konga.com’s version of ‘Black Friday’ this year raking a record sales of over N1.2 billion.
Continue reading How prepared is your online store for the festive rush?
So you have your store up online and you looking to get more prospects visit your store? here’s a question some online store owners fail to ask themselves, why would anybody trust you enough to part with their money? Researchers, experts and experience have shown lack of trust is one of the main reasons people wont buy from a seller online. what are you doing to earn trust from prospects online? Continue reading Trust at first sight: How to help prospects trust your online store at first contact
What do top sellers do to regularly meet their sales target? We put together salient points as genuine stepping stones to making top seller on cokodeal marketplace:
Your online store is a virtual representation of your business, put in place everything possible to make it so.
Some key take-away:
Create attractive and consistent photos of your products.
Have a complete store profile including every vital information that can help a prospect trust your business enough to want to contact you.
Upload clear and up-to-date product descriptions. Share your store link on all social media to invite your friends to visit your store.
Optimize your store content for high ranking on the cokodeal sellers search by subscribing to a paid membership.
- Setup customer reward packages
Be unique and reward your customers and prospects who have any contact with your store.
Some key take-away:
You can send vital information
Create discount programs
Don’t keep your customers waiting once they have a contact with your store. Be proactive and always alert to respond to customers enquiries so as to be on hand to satisfy them.
Some key take-away:
Having a mobile device you can use to access your store would come handy to help you monitor your store with ease. With the Cokodeal platform improving regularly, you can better improve your response rate.
- Advertise your store on cokodeal marketplace
with thousands of business people from all around the world visiting cokodeal marketplace, what you want to do on a regular basis is to make sure your products or store appear in front of prospects as often as possible.The more exposure your store gets, the higher the possibility of increasing prospects visit to your store. Pick up one of cokodeal.com ad plans http://www.cokodeal.com/get-found-46.html, and give your business the lift above the crowd.
The more you work with these points and be creative about them the better your chances of racking up top seller on cokodeal marketplace. Persistence and close observation are key to seeing that your results
improve. Always put in place a system for measuring your efforts as this helps you know what’s working and what’s not.