Are you interested in starting your own profitable export business in Nigeria and you need an article that can guide you effectively?, then you have come to the right place
Sourcing and selling high in demand commodities to buyers outside of Nigeria is one of the best businesses you can start right now and make close to six or eight figures monthly and if you read this article till the end, you will discover so many products you can source within Nigeria, package and export to buyers abroad including other things you need to know in order to setup a successful export business in Nigeria.
What is Exportation Business?
This involves the sourcing, packaging and selling of local commodities to international buyers from a particular country, running a successful exportation business in Nigeria can be highly rewarding but it requires hardwork, the right partnership and planning
Is Exportation business Still Profitable in Nigeria?
Yes it is still a lucrative business and according to a recent statistics Nigeria exported goods worth N7.41 trillion in Q2 2022, this is massive and this is due to government commitment to boosting export earnings in order to close the trade deficit and it is also a sign that you won’t be wrong if you get into this business
How much do You need to Start?
If you are new to the business to the business, the best way is to start on a small scale and this will allow you to export products in small quantity and this also means your startup capital will be minimal. To start on a small scale, you will need to have at least N100,000 an there’s always opportunity to scale things up in future
The type of Products you can export
You can start with the following commodities:
- Cashew nuts
- Sesamum seeds
- Soya Beans and Millet
All these are agric commodities and some of the most in demand products from Nigeria in the international market, there are other products you can start with and you can research further on that
What you need to start your own export business in Nigeria?
- Register your Business
The first step is to register your business with Corporate Affairs Commission, this is important and without it you won’t succeed
- Get Government Approval
Apart from registering your business, you also need to obtain the required regulatory certifications from government through the Nigerian Export Promotion Council (NEPC)
- Write a Business Plan
You need a solid business plan to provide backup for your idea, a business plan gives you direction and help to focus on what matters most in order to run a successful business, it will also help you to get funding from commercial banks and inventors
- Source Products locally
You need to decide on the type of products to export and find out ways to source them locally from reputable farmers or producers, there are so many commodities farmers within Nigeria and doing a proper research will save you from scammers
- Storage Facilities
After getting the commodities, you need where to store these items until you are ready to export, you can build from scratch, rent it or share with others
- Know your Destination
Getting products ready for export is not enough, you also need to know the different places around the world where your interested buyers are located
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