Small businesses are gradually taking over, especially with the advantage of digital marketing. Almost everybody has something to sell online, and social media is, definitely making things easy. This year will see a rise in the number of small businesses, especially in Nigeria.
Small businesses are great options for side hustles and there is a lot to choose from. The advantage of setting up a small business is that most of them allow you to work while you also focus on your business, so you don't have to worry about losing your job while doing a side hustle. In the spirit of side businesses, here are 5 sustainable businesses you can start this year;
- Dropshipping: Drop shipping involves selling products that will be gotten from a third party. As the owner of such business, you don't need to have contact with the product. Basically, you act as a middleman. This business type is relatively cheap to set up as it requires internet connectivity and less than $100 for recurrent expenses.
- Fashion accessories: Nowadays, fashion accessories are in high demand and the market is constantly booming. This kind of business can also be done online, or physically. It is also relatively cheap to sustain and consistent sales can also be achieved with the right marketing strategy.
- Agriculture: Believe it or not, agriculture is a sector that has boomed over the years, and there is no end to its growth capacity because food can never be out of fashion. You can also be a retailer or a direct source for food and fruit distribution.
- Real estate: There is good news about real estate and the good news is that you don't necessarily need a certificate to thrive in this business. Just like food, housing will always be in high demand and this is the kind of small business you might want to delve into. There are various training available especially online, for those who don't have prior knowledge about this of business.
- Logistics/courier services: As eCommerce is on the rise, there would also be a high demand for the shipping and transportation of these goods and this where courier services come in. You can secure your mode of transportation and have someone manage it directly while you focus on other things. However, before going into this kind of business, you need to carry out research about the market and the cost implication.
Aside from these 5 business options, there are many more options for small business to choose from, which means there is no reason why you shouldn't start something for yourself this year. All you need is the basic knowledge about the kind of business you are about to invest in.