Career

7 Lucrative Businesses to Venture into as a Fresh Graduate

Scenario

George collapsed on his bed tired. He had just gotten back from his 15th job interview in 3 months and so far, all his efforts had proved abortive; “Maybe it was time to consider other commercial alternatives” he thought to himself as he drifted to sleep.

Halimat shut down her laptop in frustration, she had been trying to fill out an application for a job she was not even sure she was going to get. It has been three years since her youth service and she was yet to get a job. She reached for her phone and dialed a number, perhaps it was time to try out that business her friend has been raving on about.

 

Solution

According to Trading Economics, “The Youth Employment Rate in Nigeria averaged 21.73% from 2014 until 2017”.[1] Also according to Prof. Andrew Zamani, Psychologist and Dean, Faculty of Social Science, Nasarawa State University, “It takes an average of 15 years for a Nigerian graduate to be gainfully employed after youth service”.[2]

In order to reduce the surging rate of employment and ensure that Nigerian youths are not left idle, below are 7 lucrative businesses a fresh graduate can venture into in no particular order:

  1. ONLINE VENDING: With the advent of the internet and technology, everything has been made easy. The rate of making trips to the market to purchase items has drastically reduced, as one can get any choice item with the touch of a button. Through the sale of several items ranging from gadgets, to clothing items, accessories even cars and houses, one can be transformed to a successful business owner in no time.
  2. TRANSPORTATION: This is also a business which is on the rise. Through the use of applications like Uber, Taxify, Rideme etc, people have easier access to their destinations at any point in time. An average driver on Uber is said to make about N80,000 to N120,000. A graduate who chooses not to become a driver, can start up his own transportation business if he deems it fit. It sure is highly lucrative.

 

  1. SOCIAL MEDIA/BRAND INFLUENCER:  One would be amazed at the amount of money that can be made through the use of social media. Online personalities like Maraji, Lasisi Elenu, Broda Shaggi and the likes are sure evidences of its benefit. A social media influencer can generate a lot of money which can later amount to millions through the use of their smart phones. And a benefit? It can be done from the comfort of one’s home.

 

  1. AGRICULTURE: As the days go by, Nigerians are returning back to the occupations that were once looked down upon. Fish farming, Pig farming and other forms of Agricultural jobs are been highly considered in recent times. Although it requires a substantial amount of capital to start up, the gains and profits would definitely be worth it.

 

  1. CATERING/FOOD SERVICES: This is an ageless business that will forever remain lucrative if the right and necessary steps are taking. From the supplying food services to parties and events, to the sale of snacks, drinks and other edibles on line to even becoming a mobile vendor through the use of food trucks, you definitely cannot go wrong with food!

 

  1. GRAPHIC DESIGN/ WEB DEVELOPMENT: This business does not require much capital to start up and can be done from the comfort of one’s couch at home. Through the acquisition of the necessary skills, one can work with top notch firms and individuals to expand their clientele through the use of web sites and other technology media.

 

  1. DROP SHIPPINGDELIVERY: When an order is made online, it definitely would need to be delivered. This is where drop shipping and delivery come to play. With the charge of delivery for these goods and services, one can be smiling to the bank in no time. To set up delivery outlets and business may require capital when one considers the transportation costs, however this capital can be recouped through the charges levied on the customers

 

There are a myriad of businesses that can be set up if one can identify the right opportunities, problems and create solutions. Waiting for a job that might never come, would not only be a waste of time and services. However, the establishment of businesses would not generate income for the individual, but would also curb the rate of unemployment in Nigeria.

Sources

[1] Nigerian Youth Unemployment Rate|2014-2018| https://tradingeconomics.com/nigeria accessed 10 November 2018

[2] Sanya Adejokun, “Unemployment to rise as NBS prepares new data” Nigerian Tribune, September 2, 2018  https://tribuneonlineng.com/162512/ accessed 10, November 2018

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