Very few of us know that these days commerce in Nigeria grows and evolves pretty fast, which makes it profitable for people to invest and build their business within its borders, so, why wouldn’t baking business be a good option to start with?
Commerce is a difficult word that stands for trades. It is a part of macroeconomic studies, meaning that it implies issues of national economics. Commerce importance concludes such indicators as purchasing and selling different goods and services on the market.
In fact, it is not only national aggregate of trading system (as a direct meaning), but it also has another definition of entrepreneurial activities like placing a product on market, withdrawing it, and other mobilities that happen to perform in any kind of company or organization. This type of commerce has some power to improve economical index by its operating system. Annual reports do such job to track economical situation.
Commerce in Nigeria
Due to Nigerian rich naphtha sources, it always has been a struggle to perform on its own. A lot of countries were trying to use Nigerian expensive oil and gas storages, ignoring its owner’s needs. Although with the time the situation has completely changed, and from 2014 to 2016 Nigeria was on the list of leading African countries regarding to its economics, nowadays it is found in crisis because of "shadow" economics.
Nevertheless, the potential of Nigeria remains high and a lot of investors are interested in further financial inputs. As agrarian production goes through hard times, comparing it to other economical sectors, Nigerian government demands foreign investments to start its evolvement. Basically, this will assist and lead to some macroeconomic improvements in Nigeria.
Baking business as an option
As it was mentioned, one of the most demanded economic sectors in Nigeria is agrarian. This means that any new businesses may outcome profitable and help not only its holders but spread its financial success on the country in overall.
It is always easy to attract people to such thing as food. This is vital like medicine support, for instance, that’s why people will never get rid of their physiological need – eating. The first thing comes up on your mind, recalling word “food”, is bread. Every single family has got bread on their dinner tables not because it’s that unspoken tradition that has come from our ancestors, but also because it is nutritious, tasty and fulfilling.
Coming back to Nigerian economical element, it is relevant to mention that a lot of families there have their own housekeeping businesses, which they hold on the territories that belong exclusively to family’s members. It is common to sow wheat, plant vegetables etc.
This fact allows us to choose a baking start up for business more than beneficial and at some point available.
A type of baking venture may absolutely vary: from family bakery that serves pastries to customers to real hardware baking factory. The main thing to remember yet is despite this business is quite easy to organize it will not be one day journey.
Baking business features
Taking into account that the baking business requires a lot of people to run – baking production workers, other crew members like cashiers, cupcake makers, dishwasher etc. – it is perfect for dealing with unemployment. Most of the jobs do not even require special training, so people with no qualifications can have the opportunity to earn a living.
Other helping features of baking business may be social programs (feeding homeless people, for example), setting high competitive salaries, agrarian sector’s increase, taxes and many more depending on business sizes and aims.
The more baking businesses there are, the better it is for the consumers, who have the ability to choose which breads to buy and at what prices. This can also reduce the prices for baked goods, as there will be no monopoly.
Insofar as Nigeria is still the country with emerging economy, it is appropriate to place and start your business over there. Also, additional reason is that foreign investments in this country are always welcome and policies for foreign business holders financially are very attractive.