Every year, thousand of entrepreneurs come up with business ideas to solve problems and also make profits from their ideas. Not only do they contribute to inspiring the economic growth of the country they reside in, they also directly/indirectly empower other people through employment, purchases, etc., In this article, we are going to look at 5 easiest business idea you can start on your own in Africa.
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Why this article?
Most aspiring entrepreneurs are concerned about the risk associated with new business idea; from financial risk, competition risk, to market penetration risk, etc., Regardless of the business idea, some of these risks are inevitable, so this article became necessary as a guide to inspire aspiring entrepreneurs to pursue their dream of owning a business without any fear.
The Metrics we used to decide the top easiest business idea to start in Africa include:
- Startup Capital
- Business prospect (Availability of market)
- Availability of raw materials/skills, amongst others.
Startup Capital
Getting a Capital to fund a Startup is part of business financial risk. If it’s a business that require huge capital to start or to scale, you may be tempted to raise funds via sells of equity to investors at the initial stage or fund your business via loan. Which ever part you choose, you and your business will be under pressure to meet up with the expectations of your business equity owners or to make money to pay back the loans.
So starting a business that will not require you to go through this route is very important, not that going through this route is bad, but as an aspiring entrepreneur starting with an easy business model will give you the experience and prepare you ahead for greater challenge.
Business Prospect
Business prospect is another metric that was used to access the easiest business idea to start on your own in Africa. Not all ideas is good for aspiring entrepreneur. As a rule thumb, if you are just starting out, you need a business that gives you both money and the social capital. Social capital is what will sustained your business and grant you access to partnership.
Availability of Raw materials/Skills
Availability of raw materials and skills is very essential on the planning stage. What raw materials do you need? Where do you intend to get them? what is the cost? what skill set do you need to succeed? Once you get all of the above sorted out, you are ready to begin your business journey.
Easiest Business Idea You can Start on your own
Content Creation/Social Media Marketing Agency
Starting a successful content creation and social media marketing agency is relatively easy. All you need is a good social media presence and the ability to curate great social media content. The core skills you need to start and grow this model include:
- Writing
- Graphic Designing
- Effective Communication
- Strategic planning
- Optimizing content and technology
- Understanding latest digital marketing trends
- Analytical skills
- Community management/engagement
- Creative mindset
- Ability to run paid ads
Tools you may need include:
- A Laptop with internet connection
- Graphic Design software
- A Website (necessary but not essential)
- A Good Social Media page (engagement is critical)
- Your brand social media strategy
- A Complimentary card for offline engagement, etc.,
You can start at your home.
Recruitment Agency
There are millions of young people who are currently searching for employment opportunities; you can step in to fill the gap between them and many brands who are constantly in search of great staff. The core skills you need for this model include:
- Communication/Public Relation
- Strategic planning,
- Research/Documentation
- Mediation
- Human resource management capabilities.
Read more on Starting a Recruitment Agency by clicking here.
Skill Development Agency
Technology has fueled the desire of many young people to invest in skill development as a panacea against unemployment. As this trend continue to grow, there is a great need for aspiring entrepreneurs to fill in the gap by establishing soft skills development centers in remote community in order to partner with national and multi-national agencies to provide training to young people.
What you need to succeed in this model is your determination and your ability to engage mentors who will be readily available when you need them. For a Start, if you are staying in a Community setting, you can apply and use the community Centre for the training.
Your tasks can include:
- Having a list of 21st century skills
- Identifying and engaging mentors who are good at those skills
- Putting out announcement with price tag for the course and engaging community leaders to spread the information.
- Then engaging some brands to allow successful trainees to intern in their brand for a month or two.
Sell a Product online
There are many products that are in high demand. For instance in the last few month, supplement that boost men performance has recorded high patronage online. You can search for a product that is in high demand or a product that will solve any fundamental problem and promote.
Your tasks may include:
- Searching and identifying a product that is in high demand
- Setting up a good payment gateway
- Creating a social media promotion plan
- Engaging the product owner to agree on shipment terms and percentage
- Then aggressive promotion of the product based on your social medial promotion plan
Sell your Skill Online/Offline
One of the ways to solve the unemployment question and also make some money for yourself is to sell your skills online/offline. If you are an hairdresser for instance, you can start a beauty school/shop online; where you can share tips and also teach people on different hairdressing style/technique, then create a masterclass for newbies who wish to learn hairdressing.