Entrepreneurial ways to make money in the continent abound. Therefore there is alot to do to get at par with developed nations. So today we look at promising business ideas that will either make more tycoons in the continent or that you can get in with little investment. Unsurprisingly, from 2000 to 2013, the number of moguls on the continent increased by more than 145% compared to the overall development pace of 73%. There are currently many profitable investment ventures for entrepreneurial minds. The top five today that stand out for us are;
1. Crowd Farming
Across the world, horticulture is a large business, and most ranchers are wealthy, but this is not true in Africa. The Unified Countries indicates that Africa’s Agric business industry will be one trillion dollars by 2030. This seems OK as the landmass has a huge homegrown market. It has 60 % of the world’s unused arable land, yet spends more than 30 billion dollars on food imports every year.
Consider the possibility that all urban communities’ pool their resources together to store outputs from the country ranchers and take a portion of the benefits at reap time. This would ensure there is no wastage. Farmers get decent pay for their labour, and urban communities have enough food at a fair cost. They also profit from facilitating the pool storage.
2. Branding local products for export
The following Entrepreneurial way to make money is in trade because Africa burns through billions of dollars on imports consistently. These imports include basic food and non-food items like raw petroleum, minerals, cocoa, espresso, lumber, etc. Many high-quality local products can become worldwide brands since Europe and US export this from the continent as raw products.
With local processing businesses, visionaries can transform local products into international brands.
3. Affordable housing
Africa has the world’s highest number of urban migration and by 2030 staticians project that up to 50 % of the continent’s populace will be living in towns and urban communities. As Africa’s need for lodging in urban areas grows, many great opportunities for industries like furniture making, home loans and insurance also increase.
4. Virtual education
There is a pattern of academic inflation right now occurring across Africa. To vie for open positions, Africans invest in higher or continuous education to make their CVs more attractive. Virtual education, especially during the Corona pandemic, enables people to continue their education without travelling locally and internationally . Many virtual programmes are also easier to enroll in and qualify for.
5. Outsourcing
Outsourcing is presently a colossal transnational industry that is projected to be 52 billion dollars in market size by 2023. The rising predominance of internet business and the advanced economy drives organizations to outsource services. Business process outsourcing organizations are currently in Morocco, Tunisia, Senegal, Mauritius, and Madagascar but the need keeps growing. So as the advanced economy grows, Africa’s pool of youthful, educated English and French speakers offers a solution. The outsourcing space will doubtlessly be one of Africa’s top business valuable open doors.
Entrepreneurial Ways To Make Money With Limited Resources
If you do not have a lot of starting capital, this does not exclude you from participating in growing your economy. The same sectors above also provide opportunities downstream that are ideal for individuals starting or needing to regroup after a financial loss. Having enough starting capital for your business is no longer a problem, but your determination to make it work.
The problem may be the brainstorming, the restless nights, the moments when you doubt yourself and wonder whether or not to get into a particular line of business. All your friends seem to be doing the same thing. Do you want to continue in that fashion? This phase can be challenging.
Let’s look at some opportunities available to you;
Freelance writing
Writers are recognized; similarly, Writers are essential. The fun thing about this opportunity is that you are good to go as long as you have a device that can access the Internet and create documents. However, there are numerous sites where freelance writers earn from every day, and they keep booming. Sites like Upwork and Fiverr are some examples.Social media marketing:
Looking for something that won’t push you out of your comfort zone, is easy to manage, and opens you to a much larger audience? Then this is the one.
Social media advertising
This is the easiest way to reach the masses so maybe being too social and having many contacts is not bad. With the number of views you get on your status updates, you can earn daily or even weekly by posting about a company depending on the business you choose to advertise. Is there anything more convenient?
Content writing
With the increasing number of businesses these days, more content writers are needed to produce attention-catching content to increase company sales. So you’re a specialist in creative writing? This is a chance to do something you love effortlessly.
Delivery services
Have a working vehicle and a driver’s license? Then this is the one for you. You can start delivering today and get paid. To be successful, have a schedule to serve specific areas and build an extensive network of potential businesses as clients. As your business grows you can serve more areas. Consider that your main cost will be gas and car repairs.
Transportation
If you prefer not delivering goods, then transporting people may be a good option. You get paid immediately after the ride, and you and go as many times as you want per day.
Catering services
Do you have excellent cooking skills or experience with making snacks? You can venture into this business then. Use recipes that you’ve perfected over the years or have a specific menu for a target clientele. With the suitable packaging, good customer service and fresh food, you should build a clientele in growing urban areas.
Graphic design
Unique graphics is important for any business so they need you if you good at graphic design. With even a smartphone and a stable Internet connection, you can design posters for businesses and get paid for your work.
Laundry service
So you have gathered some capital and still don’t know what to do? Why not set up a shop for laundry services? While getting help is easy in the continent, most people are still sensitive about their clothes and may not want them done by any one. You can have a wash and fold service and build to a coin laundromatt. With time you’ll earn way more than your starting capital.
Event ushering
Start or join an event ushering team. Often the job pays well and improves your overall dress sense, and you never know who you might meet in one of your ushering jobs. Corporate events, as well as private events require professional ushers.
Modelling
Almost any personal advantage can be modelled. Whether it is your height, hands, legs, neck, nail or skin know that Modeling agencies will love to have you on their team. However, even those without a height advantage can still model. You can model for clothing brands, skincare brands, nail-care brands, hair care brands, and even Face Modeling.
Asides from earning, you get great photos too! Who doesn’t love great images?
House painting
It may not be the ideal opportunity, but if you have enough free time, house painting is something you may want to consider. You can charge fairly for your services and get paid immediately after you’re done.
Affiliate marketing
One of the most underrated businesses is relatively easy to do with just a smartphone and Internet connection.
Book to Audio conversion
If you have good diction and have not hopped on this yet, you may want to consider it. You may need a few tools to be heard correctly, but many sites pay high for converting a written boom to an audiobook.
Decoration services
Not many people are good at Decoration or blending colours beautifully. If you’re one of the people who are good at Decoration, you might want to go into event decoration. You can handle decorations for birthdays, weddings, and the likes and get paid for your talent.
Video game centre
Why not establish a gaming centre with your capital? Your business will flourish in environments a high population of youths or teenagers.
Repairs of appliances
If you’re good with handling electronics and have a flair for it, this may be a perfect opportunity. Repairing gadgets or devices can earn you more money than you probably expected.
Personal shopper/ Errand services
We are well aware that not many people have enough time on their hands to go to different locations to purchase or acquire some things. If you have ample time and are very friendly with the neighbourhood, this opportunity may be for you. Get paid for running errands. Since you’re community-friendly, this shouldn’t be much of a hassle. You can charge fairly for your services get paid fast.
Nail studio
Manicure and pedicure cost more than you think, and certain ones are costly. If you are skilled in this area and have enough capital to purchase the needed materials, there is no reason not to start your Nail studio. If you don’t have enough money to own a shop, you can render home services.
Mini Importation
You can venture into importing things like clothes, shoes, and other accessories with a small capital. A few YouTube videos help will help you get started. Search for details about the business you’ve decided to venture into, and many informative videos will pop up.
For more information on the venture you are interested in you can easily find information online. However, what will distinguish you is the quality of service and your target market. Strive to be exceptional when offering your services.
