How to start A Food Processing Business

How To Start A Food Processing Business In Nigeria

by with No Comment Business GrowthBusiness Ideas

Start A Food Processing Business In Nigeria

The agricultural sector is the largest contributor to Nigeria’s economy. It donates about 24% to the GDP (Gross Domestic Product) of the nation.

Food processing, a sub-sector of agriculture, is a rapidly progressive division. It has been, and will continue to be a rewarding enterprise.
If you want to venture into the food processing business, and you don’t know how, this article is specially for you.

Let’s dive right in!

What is food processing?

Food processing is the transformation of agricultural products into food. It converts raw food into consumables.

Activities such as cooking, mincing, mixing, canning, fermentation, liquefaction, pasteurization, and emulsification are utilized in food processing.

Types of processed foods include:

  • Drinks: Zobo, Kunu, yoghurt, fruit drinks etc.
  • Fried foods: Chips(potato, plantain), Chin Chin, Akara, Puff Puff etc.
  • Oil products: Palm oil, coconut oil, groundnut oil.
  • Farm produce: Garri, beans etc
  • Meat products: Bacon, sausage, ham etc.
  • Savory snacks: Cake, sausage rolls, etc.
  • Flour products: Wheat flour, wholemeal flour, brown flour etc.

The food processing business is majorly categorized into three. They are

  • Small scale: This doesn’t require heavy machinery, and can easily be performed in a normal kitchen setting. Small scale products can be easily processed, and they don’t require much time. An example is the Akara or Puff Puff.
  • Medium scale: Medium scale products aren’t easily processed, and machinery might be needed. The bakery business is an example.
  • Large scale: It requires heavy machinery, large capital investment, and a high man power demand. Products are most times distributed to an international market.

Utilizing our step-by-step procedure, you can start your own food processing business.

Pick a niche:
Every business has areas of specialization, and the food processing business isn’t left out. If you’re confused about which particular niche to pick, here’s a guide.
When picking a niche;

Identify your passion: Choose an area you’re actually interested in. It can be making fruit drinks, or processing farm produce. Whatever it might be, ensure you want to do it.
Identify problems you can solve in your niche market.
Determine profitability of niche market.
Having a niche means that your target audience is smaller, but because you can easily meet their needs, the level of your impact is stronger.

Carry-out adequate research: The next step is to gather relevant information.
Prior to any form of planning, it is important you have sufficient knowledge on the business. From the product itself, to the target market, and competitors.

Do not rush this phase, rather, dedicate time in carrying out proper research.
We also suggest soliciting advice from individuals or bodies who have had years of expertise in your niche of interest.

Select a desired location:
Picking a location is an essential step. One that shouldn’t be carelessly done.
As a medium, or large scale business owner, it is important you take the following into consideration when selecting a location:

Access to water and electricity:

A readily available market nearby:

Good connectivity: You want to be able to easily transport products and raw materials to and from the location.

Environmental factors: Handling of liquid and solid waste should be taken into account.

Draft out a business plan: A business plan is a formal document that contains the goals of a business, and how they can be executed.

It outlines your goals, making them appear less formidable and more achievable.
The following are enlisted in a business plan:

  • Description of the business.
  • Mission and vision statements.
  • Competitor analysis.
  • Market analysis.
  • Marketing strategies.
  • Operation strategies.
  • Product and service description.
  • Pricing and revenue.
  • Financials.

Register your business and get the necessary permits: This shows you are authentic, and builds credibility in your business. Contact persons who might have gone through this process before, and ask for guidance.

Source for funds: You need a start-up capital. This is the initial capital needed to kick-start your business.
If you already have funds, that’s great! But if you don’t, there’s no need to panic.

Loans can be acquired from individuals such as family members, friends, or acquaintances. Corporate bodies like banks, savings and loans associations, and insurance companies can also be of tremendous help.

Purchase required machinery: This might include mixers, deep freezers, oven, deep fryers etc.

Hire staff: Hire a team of workers who will be responsible for handling various tasks.

A small scale food processing business might not require staff, but medium and large scale businesses certainly do.

Find a supplier: The supply of products depends on the scale of business. In small scale, products can easily be obtained from a local market but in medium, or large scale, a farmer is the optimal choice.

We suggest having two or more trusted suppliers to avoid delay, or setbacks.
Ensure that supply coincides with the production process, such that production isn’t halted due to inadequate supply.

Market and distribute your products: Don’t be in a hurry to distribute into market immediately after production.

Test run your product with a selected number of people. If it’s good to go, then kudos! You can advance to the next step, distribution.

Make a list of wholesalers and retailers you can distribute your products to. This includes individuals, and retail outlets like supermarkets and malls.

With the advent of the internet, you can comfortably advertise your product online. This would not only increase sales, but create an online presence and boost credibility.

A good Online Marketplace to add your business is https://spronet.ng

Spronet.ng affords businesses the ability to connect with other businesses, buyers, suppliers and distributors for free, while helping them advertise their goods and services around the internet.

Learn more from our article on what we do on Spronet.ng here What We Do At Spronet.ng – Spronet Blog

There you have it! Steps to starting the food processing business of your dreams.

Lucrative Businesses In Nigeria

Top 10 Lucrative Businesses In Nigeria

by with No Comment Business Ideas

Lucrative Businesses In Nigeria

Looking for lucrative business ideas?
Well, you’re in luck, here are our Top picks of lucrative businesses in Nigeria.
Let’s begin:

Food business
Food being a major necessity for life, coupled with its relatively low startup cost and high turn over makes food business a reliable stream of income, not just in Nigeria but globally, provided proper research, due diligence and management skills are applied.
Different fields you can explore in the food business are;

  • Food supply
  • Food Franchise
  • Local restaurants
  • International or foreign restaurants

Blogging Business
Everyday, we see more and more people depend on the internet for information.
From news, to entertainment, and business, you can search for almost anything online. This is where blogging comes in.

Blogs are usually written in an informal and conversational style, so you don’t need to be a professional writer to start a blog. What you need, however, is knowledge on the subject matter.
On average, bloggers earn about 1,500,000 naira monthly.

With determination and consistency, you can also start earning money as a blogger.
How to start a blog:

  • Pick a domain name.
  • Get your blog online.
  • You will need a blog host and blogging software to achieve this.
  • Customize your blog.
  • Start writing.

Freelancing
A lot of people are into freelancing right now. It is the ‘hot potato’ of the season.
Freelancers earn money online by providing their services to clients. They work independently and earn money on a per-job or per-task basis.
Freelance skills include graphic design, writing, social media marketing, web development, video editing, photography and so much more.
If you want to start freelancing:

  • Choose a niche.
  • Do research and pay attention to competition.
  • Get a mentor who is in your niche.
  • Register on freelance sites like Upwork and Fiverr.
  • Work, work, work!

Furniture business
Furniture is an essential piece of every home.
Offices, recreational centers, schools, churches, and mosques also utilize furniture.
The furniture business is one that’s ever in season, and with a sum of N2,000,000- N3,000,000 , you can kick-start your own furniture business.
Two aspects of the furniture business are:

  • Furniture manufacturing: You can make furniture and sell to customers. If you’re not skilled, you can work with a personnel who is versed at furniture making.
  • Buying and selling of furniture. Here, you don’t customize furniture, but buy from a manufacturer and sell it to customers.

Transportation business
Whether it’s within, or out of town, human beings are always on the move. Be it from church to work, or from school to the house, people are constantly moving.
With a small or large capital, you can delve into the transportation business, and make cool cash.
Here are possible ways:

  • You can work as an Uber driver. Uber drivers pick up their passengers and transport them to their designated destinations. They make about N75,000-N100,000 monthly.
  • You could also buy a Keke, Bus, or even a plane and hire people to run your business for you.

Real Estate Business
People will always need a roof over their head. A place to relax after a hard day’s job.
This is a profitable business, and you don’t need to have loads of cash in your bank account to invest in it.
If you have enough money, that’s good. You can buy properties and sell them later. You are sure to make a lot of profit.
But if you don’t, you can become a real estate agent. Real estate agents link buyers to sellers, and vice versa. For every deal you close, you get a commission of 10%.

 

Fashion Business
Another need of man is clothing. No matter the occasion, or circumstance, clothes are essential. This places a high demand on the business, and you can capitalize on it.
As a fashion designer, you can design wears for your customers, and sell to them.
You can also open a boutique (physical or online store) and sell clothing to your clients.
There are many areas to specialize in, they include:

  • Children wears.
  • Baby wears.
  • African print.
  • Corporate wears.
  • Men wears.
  • Women wears.
  • T-shirt printing. etc

The fashion market is large, and with a clear plan, you can dominate it.

Oil & Gas Industry
The main natural resource of Nigeria is oil and gas.
We depend on fuel to power our cars, and generators. We also use kerosene to light our stoves, and gas to cook our meals.
To a large extent, majority of Nigerians rely on oil and gas to run their daily activities and businesses. This makes it a very lucrative enterprise.
Fields in the oil and gas business include:

  • Oil and gas transportation.
  • Kerosene business.
  • Cooking gas business.
  • Petrol station business.

Agriculture
We can’t possibly talk about lucrative businesses without mentioning agriculture. It is currently at the center of Nigeria’s economy.
As the government looks for other ways to diversify the economy, agriculture is most assuredly the focal point.
There is a huge profit to be made by anyone who ventures into this business.
Some of the opportunities you can pursue in agriculture are:

  • Fish farming.
  • Poultry farming.
  • Cattle rearing.
  • Rice farming.
  • Cassava farming.
  • Snail farming.
  • Cashew Farming
  • Food processing.

Hotel Business
The hotel business is one of the most lucrative businesses in Nigeria. Invest in it and watch as money flows in.
People like to travel, and hotels provide shelter for them.
Apart from shelter, hotels also have multipurpose halls which can be used to host events.

Food Business

7 Rewarding Food Business Ideas In Nigeria

by with No Comment Business Ideas

Food Business

No living being  can function properly without food. It’s how we are wired.

This makes the food business an enterprise that will never go out of season. No matter what, man must eat.

Starting a food business is often promising and with the right steps taken, you have a higher chance of making sales and succeeding in the business. Does this interest you?

The Food Industry/Business comprises of various promising niches…take a look at some of our top picks below.

Personal Chef

A personal chef is a trained cook hired by clients. He or she prepares meals in the home kitchen’s of their clients. Their responsibilities include:

  • Meal planning
  • Shopping for ingredients
  • Cooking
  • Storing food properly
  • Cleaning up after cooking

Personal chefs ensure that the meals are based on needs and preferences of their clients.

Food Kiosk

Food kiosk (also called as Food booth) is a temporary structure used to prepare and sell food to customers. They are usually located at large gatherings such as parks, malls or even stadiums.

This business is for persons who might not be interested in owning a personal space but want to sell food to a large number of people.

You could offer food options like:
Fried foods- fish, chicken, meat, Akara, Puff Puff.
Snacks- ice-cream, popcorn, hotdogs, candy.
Drinks- milkshakes, smoothies, fruit juice, yogurt.

Bakery

A bakery is an establishment that produces flour-based foods and sells them. These include bread, cakes, and pastries.
You can start selling from your house and expand to a personal space with time.

Catering Services

Catering services deliver food to a client’s location. They might cook and serve it on-site.
A catering service may have it’s own cooks to prepare food, or might hire food from a contractor to deliver to clients.

Types of catering service:

Cooperate catering: The caterer provides food for a cooperate body gathered at a location to discuss it’s affairs.

Buffet catering: In this type of catering, the food is made available in different metallic storages with fire underneath. The fire beneath keeps the food warm. There is a variety of food, and guests serve themselves.

Office delivery catering: The caterer prepares food, packages it and delivers to an office.

Sit- Down catering: Here, the guests sit at a place while the caterer has servers moving around with food and drinks. The servers asks the guests for their preferred choice and bring it to them.

Social event catering: From birthdays, to naming ceremonies, social events cover a wide range of events. Caterers are essential for the success of these programs.

Food truck catering: This is most suitable for social gatherings. Food is made available in a truck. Food truck catering is easier to handle as it requires less personnel. Fast foods and drinks are mainly served.

School catering: The caterer prepares food and delivers it to a school establishment.

Added to the list are:
Hotel/Restaurant catering.
Wedding catering.

Restaurants
A restaurant is a place people come to sit and eat meals that have been prepared before hand.
Meals are often eaten in the location, but most restaurants offer the take-out and home delivery service.

Restaurants are distinguished in different ways. The primary factors are the food itself(steak, swallow, rice, seafood); cuisine(African, Chinese, Japanese); and style of offering.

Restaurants serve already made food to people who might not have the time to cook. You can specialize in local or foreign dishes, take-aways, etc.

Cookery Classes

If you’re passionate about cooking and teaching, cookery classes might be for you.
Cookery classes are centered on the art of cooking. They focus on the making, presentation and appreciation of food.

You can host classes which can either be physical or online.

Fruit-Mart

A fruit mart is an open-air business venue that sells a variety of fruits and vegetables to customers. The fruits are arranged in an attractive and organized manner. This business is profitable.

Examples of fruit marts in Nigeria are Ketu Jakande Fruit Market, Lugbe Fruit Market,
Maitama Fruit Markets.

Business Brand or Personal Brand?

Business Brand or Personal Brand, Which Should Come First?

by with No Comment Business Growth

Business Brand or Personal Brand?

When it comes to branding, different people have different interpretations, and views on exactly what branding is, especially young entrepreneurs just starting out.

While this holds true, an even larger majority assume business branding and personal branding are two different things.

In this post, we present our perspective on the matter to enable you to make better-informed decisions and brand choices for your business.

What, Why, Where? Brand?

Before answering the question of which should take priority between creating a Business or Personal Brand, let us look at what branding actually is, it’s origins and why branding is important.

In its simplest terms, branding means putting your mark on a something.

Like writing your name on your exercise book in school. -Your exercise book is unique, with your handwriting, style of taking notes, and everything in between.

Same goes for your business. Business branding means putting your mark on your venture, craft or franchise…keyword is “Your Mark”.

The Mark

Putting your mark on any business, implies, setting up your business in a way that reflects your beliefs, shared values, principles and to an extent, your personality.

Just like it takes visionary founders and entrepreneurs to build visionary companies, a vital component of your business brand outlook starts from you the owner.

The first step therefore in choosing a brand images for any venture is taking a deep personal introspection into oneself to identify what values and beliefs you share and how you intend communicating those beliefs to others through your business and the services it offers.

Take for example, you can’t build a business that gives priority to quality and standards if you, as a person (The founder) are all about cheap, substandard and cutting corners.

Everyone speaks about the iPhone and Apple as a company, but that brand image of Innovation, genius, originality and thinking differently are all tied to Steve Jobs core as a person.

Branding therefore is not the product nor the company, but their way of life, shared values, beliefs and what makes them different and influences people’s choices in that field.

Personal Brand

A personal brand is a generally agreeable perception of an individual by his/her community or industry based on that individual’s expertise, accomplishments or actions in that field or industry.

Your personality and your personal brand are both important in developing a brand for your business. While your personality refers to the intangible attributes a person poses, your personal brand relates to a particular skill set, abilities and influence a person has in a particular field.

Business Brand

Business Branding is a way of creating and telling people your business message. i.e. What your company represents or stands for using logos, names, colors etc.

Do note however, that these are mere representations and the perception of your business by others will depend on the way you do business, service your customers and keep to your brand promises.

Personal Brand Vs Business Brand

Your business and personal brands are important and both should be developed as difficult as it may be.

For example; If you are a freelancer without any company structure, it is advised you build a personal brand image by creating content around your work, getting exposed by showcasing your work and finally building influence.

However, it is also important to give your brand a business structure and create a business brand from there. This increases your authenticity and range for doing business.

Focusing on your personal brand alone (You as a person) without regard to your business name, logo, etc, puts your actual business brand behind the curtain.

Building a business brand without a personal brand is common but in recent times, if you can, also build a personal brand for yourself and if any of your teammates or staff has potential for having a personal brand, encourage them, provided it is in line with your company brand values.

Finally, just as important as a brand name is its brand message.

Online Marketplace

Why Your Business Needs An Online Marketplace

by with 2 Comments Business Growth

An Online Marketplace

The idea of marketplaces is as old as business itself and while the medium of transactions and technology has changed over time, marketplaces remain a viable way for buyers and sellers from vastly far geographic regions to find each other and transact.

Fundamentally, every business in modern times needs a business website, and rightly so, but just like in physical stores, the flow of traffic or customers in any major market can hardly be compared with stores on the streets or other locations away from major markets.

The same way it is for Online marketplaces vs your business website. Both are important and have different roles in marketing your brand or business.

In this article, we share some important reasons why your business, asides having a business website, should be part of an online marketplace.

  • Traffic
  • Save Cost & Time
  • Brand Exposure (Build Brand Trust)
  • Buyer Preference
  • Business Analytics
  • Network/Community

Using a marketplace effectively for your business has other added benefits, but let’s delve a bit into the few highlighted above.

Traffic
As stated, previously, traffic is king when it comes to reasons why businesses use marketplaces. This is simply because just like in physical marketplaces, different people with different needs and segments visit, search through marketplaces, and discover your business, goods, and services in the process.

Given that a good marketplace is an aggregation of businesses from different sectors, the higher level of content and request on marketplaces make them rank higher in SEOs when compared to an average website.
Again, marketplaces are all about marketing, that’s exactly what they do.

A good marketplace will spend more cash and effort on marketing all over the internet than you would do with a personal or business website.

Save Cost and Time
The last point brings Besides saving cost on marketing allocation, the low cost of setting up an online store contributes significantly to your business overall profit margin when compared to creating and maintaining your eCommerce store.

This is especially important to businesses just starting, if you are starting an offline or physical store, for example, you need to worry about renting a store, hiring staff, and operational expenses.

On the other hand, using marketplaces like spronet.ng, you won’t have to spend any money either as setup or maintenance fee, because the service is completely free and you only pay little commissions when sales are made…which we can all agree is fair and a win for everyone.

Brand exposure (Build brand trust)

Marketplaces provide a good avenue to inspire buyer trust in your brand especially to people making the first contact with your brand.

This is mostly because marketplaces act as a neutral community brand vetting platform.

The more people experience your products and services and leave positive feedback, the easier it will be for others to want to engage you both on the same marketplace, in your physical store/outlet, or your website.

A positive business brand approval inspires a chain of word of mouth (People telling other people) testimonies about your goods and services making even more people want to check you out.

FYI: We have put up an article about what branding is and the difference between personal and business branding… you can check it out here.

Buyer preference

Most buyers and consumers visit marketplaces because of choices.

They want to compare different products and services with their prices, find out what other people think or are saying about your products and services, before making a purchase.

Your own e-commerce store is controlled by you and therefore people may not trust the process as much especially if you’re just starting and haven’t yet established a good brand reputation.

Business Analytics

Business analytics is a good way to learn about the performance of your business at a glance without needing to do any calculation or math.

Good Marketplaces provide business analytics for your online to show you how your business is performing, what sales are being made and the product is performing better.

This is important as it informs the decisions you make as a business and areas to focus on to increase your chances for success.

Network/Community

Building a successful business either online or offline requires creating relevant business connections. Marketplaces like spronet.ng provide that leverage to meet, network, and interact with other businesses and customers alike.

Learn emerging developments, new tools, products, and ways of doing business. What other way to be abreast with happenings and trends in your industry, local or global business community, or even other industries.

Spronet.ng is a good way to expand your network and business reach as we go beyond buying and selling to provide valuable business connections and community to support your business.

To get started with growing your business through marketplaces, visit www.spronet.ng and register for free all you need is a CAC certificate (if your business is based in Nigeria).

To learn more about what CAC is and why your business needs a CAC certificate please check out our article here.

Local Production ideas

16 Small Scale Production Business Ideas With Low Startup Cost

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16 Small Scale Production Business Ideas with, low startup cost

Have you ever considered starting a small production or manufacturing business but are not sure what to produce or ideas to pursue?

Manufacturing industries remain very profitable, especially with the right ideas and proper management skills, which makes them an excellent option when considering a sustainable business at low capital for good ROI and scalability.

Again, while most people get discouraged due to machinery costs required for some manufacturing ideas, renting or leasing machinery or equipment to start a small production business is a viable way to get started or enter the market.

We have put together our top pick of small production or manufacturing businesses you can start with relatively low capital.

Please note that these are not investment, business, or financial advice, therefore proper research is required from anyone interested in taking on any business venture.

Let’s get it!

Snacks
Yes, we love some refreshments now and then.

Providing a delicious yet affordable alternative to some expensive, foreign, or high-end brands can be a very good window of opportunity to enter the local production business.

You can first start selling your products in the neighborhood and nearby areas.

As the business grows, you can start with a shop specially dedicated to the business or set up your online store with spronet.ng for free and market your products to local stores and interested buyers and distributors for free.

Disposable Plates and Cups
With the right piece of equipment and information, there is a good business opportunity to make money from this business at relatively low capital.

The main barrier is finding the production equipment which you can either buy, rent or lease.

Manufacturing Soap and Detergent
The Industry is not going away anytime soon as soaps are very useful in our daily lives.

Nigeria for example has a soap market of approx. N18billon and the good thing is that when done right, you can also serve the markets in other countries through export.

Soap and detergent products are essential FMCG products that are always in demand.
You can manufacture different types of soaps and detergents and sell them in different markets. However, to start this business, you need to learn the process of making soap and detergent.
You need to learn the correct mixing of the right ingredients and that too in proper proportion.

Although a full soap startup production can cost N13 Million on a larger scale, One good thing with other ideas on our list is that you can start at your own pace and capacity and grow from there.
You can also take your business online through the spronet.ng online marketplace and sell to serious buyers and merchants directly.

Paper Production
Paper production is a global industry, and new entrants and small-scale paper mills are needed to reduce the rate of imports and improve local production.

The material requirement includes papermaking equipment, chemicals, and raw material. You can start your business by renting a shop.

You can hire workers or start a business all alone. Once your business starts making enough profit, you can also think of adding more such products, such as tissue papers, paper bags, paper plates, etc.

Organic Beauty Products and Soap
There is high competition in Organic soaps and related products, however, finding the right audience and right testimonials will help your product stand out.

Sports, Gym Items, and Local Games
Board games such as ludo, Drafts, and others can be designed aesthetically and sold to the locality.

This makes our list because it has low entry capital.

Also, there is a market for locally produced gym and sports items, such as apparel, football, and badminton.

Hair Oil Production
Although competitive, Hair oil production is a low-cost business with high profits. You can start today with the right knowledge and marketing skills.

Due to its daily use, hair growth oil production is very lucrative and has relatively less competition with male products, such as beard oils.

The materials required include base oil, perfume, herbal extract, bottles, and a mixing machine. The business can be started with capital and can give you that manufacturer status is done right.

As stated earlier, besides a good product and pricing, adequate knowledge of marketing and branding will help your product stand out from the crowd.

Joining an Online marketplace like spronet.ng allows you to add credibility to your brand, you can create a business profile, list your products/services, find business, discover new business opportunities, build connections, and have your product reviewed among users.

Buttons Making
Being a classic example of a small-scale business idea in entrepreneurship courses, button-making still retains its reputation as a low capital entry business.

Making great button designs and finding the right connections to supply your buttons will make it worth your while.

Sampling your products among other businesses in our online marketplace gives you that edge to connect and find buyers easily.

Candle Production
Yes! Speaking about low startup capital, Candles remain an essential part of most religion, culture, and luxury and have high utility, making it one of the most popular small manufacturing business ideas.

Starting a candle-making business can be done with the basic Do It Yourself Ingredients such as Wax, wick, stearic acid, mold, and add-ons such as perfume and dyes.

Moreover, this business can be started from your backyard, thereby removing the need for office/rentals.

Chocolates & Candies
There is never enough demand for chocolate bars and chocolate-related candies. You can start this off today with a very known entry Capital and it is easy to learn.

Cotton Buds
Cutten buds have various uses, especially in clinics, beauty shops, and research labs. Producing a good quality cotton bud requires relatively low startup capital.

Coconut Oil
Starting a coconut oil production business does require huge startup costs and can be done at home and marketed at your free spronet. ng online store.

Fertilizer Manufacturing
Agricultural fertilizer production is a high returns business but requires training and manpower for a larger scale.

Smartphone Accessory Maker
Smartphone accessories such as packs, screen guards, and buds are an area of opportunity to enter with relatively low capital and adequate training.

Textile Designs and Production
Textile production and designs are an emerging trend and getting accepted even in pop cultures. You can start making textile designs from finished products, or craft your textiles from scratch. At relatively low startup cost.

Toothpick/Utility Sticks Production
Yes, we’re familiar with this one and the news of importing toothpicks, well, people are making decent income-producing toothpicks and utility sticks used in baking and designs with little startup cost.

Finally,

Small scale production remains a viable way to startup your manufacturing empire and there are lots of other ideas to get started with. This list is nowhere near comprehensive and will be updated from time to time with more ideas and new trends.

As earlier stated, finding verified connections and businesses to grow your business is what we do at spronet.ng

Gain free access to our online marketplace and business community and sell your products, find the right types of equipment, and network from anywhere. To get started for free, go to  www.spronet.ng

Also, to learn more about why your business needs an online marketplace, you can check out this article here.

5 Businesses Ideas You Can Start With Little Or No Capital

5 Business Ideas You Can Start With Little Or No Capital

by with No Comment Business Ideas

5 Business Ideas You Can Start With Little Or No Capital

There is a saying that there is no better time to start a business than in times of economic crisis.
Real business people seize the opportunities and threats in the economy by solving problems then they make money from it.

Nigeria is facing an economic recession due to the COVID 19 pandemic and most companies have either dropped some staff or reduced the salary of their employees in order to survive the present economic situation.  If you are currently unemployed or employed but not satisfied with your present work situation then this is for you.

This article will guide you to affordable ideas to starting your own business.

Beauty & Health Products
This does not require any special skill and also does not require too much money to start up.

As long as you can communicate the importance of the product you are selling in people’s lives, your chances of success are high.

Like other businesses, one of the challenges that might arise could be how to reach customers and give your business a professional outlook through setting up a brand image, getting an office space where clients can receive your services, and more.

To keep startup costs minimum, the business can be operated from home but your products need to be sampled and properly marketed and that’s one of the benefits of using spronet.ng, you get your online store for free and can share your products to other channels, like Instagram, WhatsApp, and Facebook, while customers can make orders directly from the platform and payment goes to your bank account.

For more on how to grow your business, you can check out some of our resources on branding here, reach a larger scale of customers without paying any advertisement fee and also have a location where clients can reach you and pick up products without paying huge rent for getting an office space.

Educational & Vocational Courses
Do you have skills and talents you can share with others? Then producing educational materials through digital content and monetizing it could be just right for you as there are no huge startup costs required.
The Covid pandemic has seen the widespread emergence of virtual learning and this trend won’t be going away anytime soon.

Now you can train students without being in physical contact with them, you just need a good data connection and a good teaching method.
However, if your training requires physical one on one interactions, you can take advantage of Spronet Hub’s affordable training/meeting rooms at our business hubs near you.

Dry Cleaning & Laundry Services
This is one of the small businesses that will continue to thrive no matter what is happening in the economy.
As people get busier, the demand for dry cleaning services will continue to increase. The good thing about this business is that you can start from your home. You can even spice it up by doing home deliveries and pick up.

Mini Importation
The internet has redefined trade and commerce. You can import goods online through Alibaba, Wish, and other global sources. With less than N500,000 you can start this business.
Getting local customers for your imported merchandise is yet another problem that spronet helps you solve. As stated earlier for zero registration fee, you can set up your local online store in minutes and start making sales and deliveries.

WEB & GRAPHIC DESIGN

These days, you hardly can find a business that does not have a website or a beautiful logo design to attract customers.
Businesses use websites and also graphic designs to promote, educate and also attract customers to patronize their products. This has increased the demand for web designers and graphic designers.
You just need to learn how to design a website professionally, build web pages and also upload web pages to the servers.

Looking for how to get started with learning a skill, advertising, and growing your business/idea?
Be part of our Spronet Business community and start growing your business today.
For more information on our business hub, visit https://hub.spronet.ng

Corporate Affairs Commission

Why your business needs a CAC certificate

by with No Comment Business Growth

CAC Certificate

Do you own a small business and want to take that business to greater heights?

What if you have worked hard for years only to realize that your business name legally belongs to someone else who has registered it before you?
Perhaps, you got a life-changing opportunity to bid for a government contract or supply your products to a multinational organization…then the question comes…” is your business registered?”

This article shares some insights on why you need to register your business with CAC and how to go about it.

The Corporate Affairs Commission (CAC) in Nigeria, is the body charged with the responsibility to regulate the formation and management of companies in Nigeria.

Your business and its success result from months and years of consistent effort and hard work that should not be taken for granted and should be registered.

While it’s true registering your business with the Corporate Affairs Commission (CAC) might not be necessary for all types of businesses/transactions e.g (Hawkers and Roadside vendors which may be regarded as temporary business structures), it is advised that every well-meaning entrepreneur or business owner should ensure their business venture registered with the corporate affairs commission (CAC) and here is why.

Be The True Owner Of Your Business
Registering your business gives you exclusive legal rights and privileges as the owner. This means no one else can claim that particular business name and its attributes, giving you the right to sell the business if you choose.

Be Credible And Win Trust
People are more comfortable doing larger volumes of transactions/contracts with verifiable registered businesses. If you hope to win better and more high-end clients, you need to get registered ASAP.

Succession And Continuity
Registering your business gives it a better chance and the legal structure for your business to continue even long after you retire or are incapacitated.

Business Bank Accounts, Loans, Contracts, and Other Business Relationships
You’ll need to have your business registered if you intend to open a business bank account, huge loans, contracts, and other business relationships because as stated earlier, people and other businesses prefer working with registered and credible businesses.

Stay Safe From Fraudsters And Scammers
It is safer to deal with other registered businesses as their records can be traced in any case of fraudulent activities.

Gain Access To Spronet Marketplace For Businesses
At Spronet.ng we permit only registered businesses to upload their goods and services. Being a registered business gives you complete access and freedom to platforms such as ours to transact or showcase your goods and services.

Legal Liability And Protection
You gain some form of legal liability protection especially when you’re registered as a limited liability company. As a registered business, you will not be held personally responsible for certain accidents and other liabilities that your business may have generated.

Brand Identity, Reliability, And Reputation
Do you want your business to stand out as a brand? Then the first step in securing your company name legally before someone else does. Remember, you can lay claim to something you don’t own.

Some Reasons Why people don’t Register their Businesses?

It’s no news that some business owners have deafened their ears to registering their businesses legally, while this trend has changed drastically over the years, here are some reasons:

  • Tax Evasion
  • Misinformation and Ignorance

How To Register Your Business With CAC
Registering your business with CAC can be done in two ways:

Do It Yourself
The CAC launched an online portal through which businesses intend to register a Business Name (Doesn’t Apply for Limited liability companies-Ltd).

By following the instructions at https://pre.cac.gov.ng/home you can do your online business registration yourself.

However, there have been reports of delays both on the website and in the process. This approach is best suited for those that are tech-savvy.

Registered CAC Agent
A registered CAC agent might be all you need if you don’t have the time, skill, or experience to get your CAC done yourself.

Often, these registered Agents and professionals especially, Lawyers and Chartered Accountants, are recognized by the CAC to make the registration process stress-free and convenient for you.

Need a registered CAC agent to help you with your business registration process?
Contact us at Spronet Hub as we connect you to our pool of verified CAC agents to make the process affordable, stress-free, and fast. To get started:

Visit our office at Spronet Hub, 1st Floor Chaza Mall, Ada-George, Port Harcourt., send us an email at hub@spronet.ng, or call: 09037135958

Have your business registered if you haven’t and join thousands of other verified businesses to showcase your goods and services on spronet.ng for free. Give your business the needed exposure, win more clients, serious buyers, and contracts and grow your business.

To join our community of businesses for free and start selling online, go to https://spronet.ng and signup, verify your email address and create your business profile all at zero cost.

See also: What We Do At Spronet.ng – Spronet Blog

Business lockdown covid 19 spronet

Can Your Business Survive Another Lockdown?

by with No Comment Business Growth

Find out what other businesses are doing to stay ahead during Lockdown

The Covid’s complimentary economic lockdown witnessed many go out of business, lose jobs and worse still accrue debts without any glimpse of when the nightmare will be over.

We can all agree it was really bad for most businesses. As bad as it was, other businesses thrived and even made exponential gains. Some made gains, because they were ready and better positioned as the only businesses available to serve the needs of existing and new customers.

Covid-19 Business Impact Report

The Impact of the covid-19 outbreak on the Nigerian economy, for example, shows that the Nigerian economy having been projected to experience a 2.5% GDP growth, was instead truncated by the pandemic.

Fate foundation & BudgIT’s (2020) studies on the impact of Covid-19 on 1943 MSMEs across the 36 states revealed that 94.3% of respondent businesses recorded negative results during the pandemic principally in areas of cash flow, sales, and revenue by over 74%.

In truth, wealthier Nations can afford to give business stimulus packages, loans, and grants to help impacted businesses get back on their feet. Unfortunately, that is rarely the case in developing nations like Nigeria where a large number of the population are already living below the poverty line.

It’s no news that the pandemic plunged many into suffering, poverty, unemployment, and even business closure which many are yet to fully recover from.

Businesses have the sole option of taking full responsibility in averting the direct impact of a strangled economy both now and in the nearest future.

Security Crisis

Besides the Lockdown due to covid-19, there have been a series of State-wide to Regional Lockdowns, especially due to conflicts and other security reasons. Various staged protests and sit at home, all to the detriment of businesses.

Business managers and CEOs still doing business as usual are often directly impacted by these lockdowns both immediately and in the long run.

It’s said that, “You can’t be doing the same thing, the same way and expect different results.”

New Threats

Despite the prolonged lockdown and how we abhor them, the truth is, we are yet to see the last of them.

From resistant strains of the Covid virus to civil unrest, all we can do is be better prepared.

According to a Premium Times report, The Nigeria Center for Disease Control (NCDC) announced in a statement, confirming that it has recorded its first case of the Omicron variant (B.1.1.529 lineage) of the Covid-19.

Businesses, therefore need to be prepared, before anything else, preparation is key to success, for anyone who fails to prepare, prepares to fail.

The Economic Impact of the lockdown has exposed businesses to find better alternatives to staying ahead and surviving while ensuring such history never repeats itself at scale concerning their business.

Businesses are now more than ever, smarter and better prepared to navigate a post covid economic era.

What Does This Mean?

Businesses large and small are looking for more sustainable ways to cut costs and optimize profits and operations while being on the lookout for developments such as covid.

Banks, Multinationals including International Oil Companies (IOCs) have drastically streamlined spending, operations in both sourcing & service channels. More than ever, organizations are becoming more global while adopting various online systems for service process optimization and automation.

More Businesses have Moved Online

From small and fragile to large and agile, everyone is now making sure they can be found online and have an online footprint both for operations and customer service.

More customers are online now…and so are businesses.

A Mastercard report suggests that 81% of Nigeria Consumers shop more online since the start of the pandemic.

This is not limited to Gen-Z, as even many procurement departments in large organizations have further strengthened their sourcing framework to give room for more online purchases.

Emerging Trends

While online shopping is gradually becoming the next normal, the pandemic has drastically changed how we gather information.

A higher number of organizations perform more market surveys online compared to pre-covid and as stated earlier are more likely to make an online purchase in a post covid world.

This is not only limited to goods but also services and suppliers.

What Other Businesses Are Doing To Stay Ahead of Lockdowns

One question every well-meaning business owner or organization should ask is…are you better positioned for the new normal?

In an event of a lockdown, do you have any process that will ensure business continuity? What about trusted suppliers to ensure you keep delivering value, can they be available for you during a lockdown?

If you don’t have any clear answers yet, you may need to re-evaluate how future-proof or resilient your business may be in a lockdown event.

Business success is about creating value while building and maintaining meaningful business relationships.

Being better informed should translate to being ready… which means giving your business an online presence. Not just a social media kind of presence…but an online marketplace presence for real, serious, and verified businesses.

Spronet.ng is more than a marketplace…but an online business community for verified businesses to find each other, transact and connect regardless of any lockdown.

Spronet.ng Empowering Businesses To Thrive

Have you tried sourcing for equipment, tools, materials, goods, supplies, services e.t.c to no avail?

Spronet is open for all types of verified businesses to connect and transact for free. There is no middle man as businesses, dealers, and manufacturers, or local producers across the country, connect directly with each other.

Spronet gives you a free online store and a unique website/business profile.

Besides having your business website, there are many benefits of being part of an online marketplace.

SEE ALSO: Why your business needs to be part of an online marketplace

Be found Online And Trusted

Do you know, many businesses and individuals resort to import after Local/Online sourcing efforts have failed? That’s your money leaving the country before you (Ha-ha).

With Spronet.ng online marketplace, we ensure your business, goods, and services are found easily by placing them to the right audience or customers both inside and outside spronet.

Contracts Should Be Won by Merits Not Bribe

Spronet.ng enables businesses to create and bid for contracts through our unique bidding system. Businesses are directly in control of the outcome of the bidding and section process. This way, even rare items/goods can be found easily.

It gets better because there is more value in store for every business.

See Also: What we do at spronet.ng

How To Get Started

Adding your business on spronet.ng is completely free and businesses have an unlimited number of products/services slots to showcase their goods and services.

To get started: Go to https://spronet.ng/signup

It’s free now…it’s always free. Be proactive and stay profitable.

Further Enquiries

Email Us:  contact@spronet.ng

Phone/Whatsapp:  +2349043718235

See Also: What we do at spronet.ng

what-we-do-at-spronet

What We Do At Spronet.ng

by with No Comment Spronet Update

Spronet.ng

In modern times, it is agreeable, that business has moved online and so must business people. Hardly do we find any business now that does not utilize any form of Internet Technology.

As technologies advance, so does it influence people’s way of interaction, lifestyle, and business.

Spronet helps businesses keep up with that change effortlessly without having to worry about technology or bogus business jargon allowing you to do what’s most important.

  • Creating Value
  • Building meaningful business connections,
  • Engaging your customers and audience
  • And of course, making a profit.

We aim at democratizing technology seamlessly for businesses and providing a level playing ground where every entrepreneur, businessman, or woman, gets the opportunity to reach a vast range of customers and business connections from any location in a secure business environment where trust can be dissected.

Your Business Needs To Be Seen

Having a custom business website and social media handle tailored for your business and brand is important but also important, is the need to be part of an online business marketplace.

Good online marketplaces like Spronet.ng are a great source of constant, organic, re-occurring, and relatively affordable traffic and add more credibility to your brand.

At spronet.ng, we give you a free online store website that contains your business profile and serves as a vehicle that carries or advertises all your business information not just to the public but to audiences and customers that will be more inclined to engage or make a purchase.

You can learn more from our article on why your business needs a marketplace here Why Your Business Needs An Online Marketplace – Spronet Blog

Business is About Customer Engagement, Education, and Value

Why worry about technology, web development, marketing, blockchain, etc. When you can spend meaningful time telling the world about your goods and services while creating meaningful business connections.

Spronet allows you to leverage the power of technology for your business without needing to do anything that concerns technology.

With our easy-to-set-up and use business platform, we help you focus on educating your customers and creating engagements around your goods and services.

What’s more? you can share your business link to different social media and convert your audience into paying customers.

What other useful way to spend your time for your business on the internet? And it’s Free.

 

Save Money, Make A Profit

When we say Free, we mean it, spronet makes money by ensuring safe transactions through commissions. This means we take bringing paying customers to you seriously.

On the other end, spronet allows you to save costs on web development and marketing fees, etc. while also retaining professionality, making more sales, improving your network, and growing your business.

Win Deals And Contracts

At Spronet, we believe everyone (Business, man, or woman) deserves an opportunity to succeed. That’s why we have created a transparent contract bidding process. As people that have spent quality time, especially in the Nigerian Market, we’ve observed organizations’ money being siphoned by people either sent into markets to make purchases or to award contracts.

On the other end, bidding for these contracts requires some level of connection and God’s grace. Ha-ha!

Spronet takes all that away saving businesses or contract creators a fortune while making it available for verified businesses to bid. Like we say…now you don’t need to know someone that knows someone to win the deal.

You can start now to use spronet.ng for free. It is free now, and it is also always free.