Many people want to make million from entrepreneurship but do not understand what step to take or what business to invest in. To make more than one million in a year, you should the type of investment you settle with carefully. In this post, I will opening your eyes to the best businesses to make a million within a year irrespective of where you are located across the world from Nigeria, Ghana or South Africa.
1. E-commerceCommerce online involving various kinds of online jobs and internet businesses is one of the most lucrative businesses to start in Africa. One of this strength of this business idea is the millions of prospective customers that visit the internet on a daily basis. All you need is a platform to make them buy your goods or services.
MORE: 18 Internet Businesses To Start With Low Capital
2. Fish And Poultry Farming
Raising food animals for human consumption and industrial use is a very lucrative farming business in Africa. Many Americans and Europeans come into Africa to set up large scale fish and poultry production units in Africa. With just a thousand layer birds or five hundred juveniles, you will earn millions annually if you manage your investment well.
SEE: How To Start Fish Farming
SEE: How To Start Poultry Farming Business
3. Fairly Used Products
The economy of most developing countries in Africa has made buying used product a popular choice among middle and low-income earners. Second hand clothes and electronics are considered of higher quality compare to new and cheap products that are usually fake or imitations. Importing London or UK-used laptops, BlackBerry and Samsung phones as well as okrika bags and shoes from Dubai guarantee attractive returns on your investment.
GUIDE: Selling Fairly Used Clothes, Second Hand Shoes And Okrika Bags
4. Building Materials
The status of a landlord/landlady commands respect. This is why construction of residential quarters is growing by leaps and bounds in various towns across Africa. This new trend has opened a business opportunity for suppliers of building materials ranging from cement, asbestos, roofing sheets, plumbing and electrical fittings to metal rods, doors and gates.
5. Hotels And Bars
Africans love to enjoy life. No matter the level of their income, you will always see people visiting relaxation centres after the day's work or during weekend and public holidays. Setting up a hotel, bar, restaurant, canteen or a travelers' lodge is one sure way to make money anywhere in Africa.
I hope you have picked one or two investment ideas to start making millions wherever you are in Africa.