- In Most African countries, intending entrepreneurs are searching seriously for great business ideas
- According to recent research, the Point of Sale (POS) businesses and cooking gas refills make up some of the highest searched businesses
- Also, recycling, cleaning, interior designs, and real estate are the most searched business ideas by prospective entrepreneurs
In every economy, small businesses make up their forces around the world. Infrastructure, business climate and culture impact heavily on how successful businesses around thrive.
New research by ZenBusiness said that industries which attract entrepreneurs vary in every country and are affected by factors of infrastructure and ease of doing business.
Interior design tops list of most searched businesses
Business Insider report states that personal services are the most searched-for small business ideas and had a search result of 22.7 per cent in most African countries.
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The searches include interior design, which is mostly searched for in Mauritius, cooking refills in South Africa and photography in Namibia.
According to the report, the range of businesses searched for by intending entrepreneurs across Africa is different, from cooking gas refills in South Africa to interior design in Mauritius.
Recycling ideas take centre stage in some African countries
In Zimbabwe, Burkina Faso, DRC, Madagascar and Mali, prospective entrepreneurs are searching for recycling business ideas, and it has outnumbered searches for any other type of business.
The global trade body, the World Trade Organisation, said small and medium-sized enterprises make up 45 per cent of the GDP of both developing and developed Africa and 66 per cent of jobs.
The POS business boom in Nigeria
The recent boom of Point of Sale, otherwise known as POS Businesses in Nigeria, have most Nigerians diversifying their sources of income even in cities with robust banking services.
According to research by Legit.ng, operators of the business report that they make between N7,000 to N10,000 daily on income. That is over N700,000 monthly.
The best small business entrepreneurs want to start in Africa.
Nigeria - Point of sale (POS)
Ghana - Real Estate
Kenya - M-Pesa
Tanzania - Clothing
Uganda - Wholesale
Ethiopia - Real Estate
Zimbabwe - Recycling
South Africa - Cooking Gas Refill
Rwanda - Real Estate
Egypt - Import/Export
Morocco - Freight
Senegal - Cleaning
Algeria - Contracting
Libya - Software
Tunisia - Import/Export
Cape Verde - Jewelry
Cote D’Ivoire - Cleaning
Mozambique - Clothing
Zambia - Second-hand Clothing
DR Congo - Construction
Everything you need to start a POS business in 4 simple steps as the number of bank accounts hit 191.4m
Legit.ng reported that Point-of-sale (POS) business is gradually becoming one of the most lucrative or profitable businesses, and more Nigerians are turning to it amid rising unemployment and a growing number of bank accounts.
According to Nigeria Inter-Bank Settlement System Plc (NIBSS) there are 191.4 million bank accounts in the country, out of which 133.5 million accounts are active as of December 2021.
The breakdown of bank accounts NIBSS said is 49.8 million current accounts, 120.4 million savings accounts, 8.9 million corporate accounts and 179.2 million individual accounts.