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Hello highly esteemed Reader, You are highly welcome to income nigeria, The leading business tips website in Nigeria. This post answers the question “How to start exportation business in Nigeria”
Export business in Nigeria
Starting your exportation business in Nigeria isn’t usually as easy as people hype it to be. There is a lot you need to put in place in order to start a successful exportation business. International business is one of the most profitable businesses in Nigeria, Owing to the fact that it will expose you to a whole new larger market. And if your export products are legit and sound, boom……there you go. You will definitely have return customers coming back to order and request for your business. Reputation is the key behind all successful Export business owners in Nigeria.
Taking Nigeria as an example, we are a country blessed with natural resources, oil products, cocoa, different varieties of food stuffs and plantations. Going international with these products which are in hot demand is absolutely rewarding in terms of profit and personal acknowledgements.
In a post I published earlier, I shared more light on profitable business ideas in Nigeria. But today, we will look deeply into the best strategies to start a successful exportation business in Nigeria, Ride with me.
How to start exportation business in Nigeria
The first step to take when trying to start your export business in Nigeria is:
Register for an exportation business course in Nigeria.
There is a whole lot of information online on how to start a successful export business in Nigeria which are indeed useful. In order to operate a very successful exportation business in Nigeria, you definitely need a seasoned mentor. Someone that is already doing the business and is recording huge amount of success. This export business course can be in form of a seminar, exportation business video recording tutorial or a private tutor. Every single business has its secrets of success and it will be an advantage for you if you are armed with such secrets before venturing into the exportation business world.
Decide on the type of export products you want to start Exporting. Do your market research, know what sells and what doesn’t, know the trending products and decide on which country you want to export to. International exportation doesn’t only end in U.S.A. I am reminding you about this because I have noticed that each time one mentions exportation business, USA comes to our mind first. There are several other countries that are dying to have our products in their country. It’s all about doing your market research and figuring out this countries and start exporting to them.
There are different products you can start exporting from Nigeria to other countries.
These includes:
Oil products:– palm oil, coconut oil, castor oil, palm kernel oil( Ude Aki) in Igbo language, groundnut oil.
Charcoal:– since Nigeria is a country enriched with coal, Exporting charcoal internationally to country is a very profitable idea. There are many countries that doesn’t have coal and can pay a lot to have this product shipped to them.
Cocoa:- This is another hot product on demand. Cocoa is a very profitable business to venture into especially if you have a big farm here in Nigeria. But even if you don’t, you can buy wholesale from Nigerian markets then export internationally to foreign countries for huge profit.
Cassava and so the list goes. Just decided on other option you have and do your market research.
Other helpful resources:
- The most lucrative business in Nigeria(read here)
- how to start a catfish farm in Nigeria
- Complete guide on how to register a business in Nigeria
Still on How to start exportation business in Nigeria
Capital to finance your export Business.
- Should in case you are not financially buoyant enough and you have this passion to start your own exportation business. My best advice to you is to start small at first then when you start seeing returns, you can go big.
- Like I once mention in a post I wrote earlier on how to start a profitable pig farming in Nigeria, The first place to look for finance is family members. you have mothers, fathers, brothers, cousin and distant relations. This is the primary source of finance for any start up business.
- Another source of finance is by Taking loan from a friend. I prefer this method to taking loan from bank. Taking loan from the bank is as risky as it seems and one should take a good precaution before taking loan from the bank
- Investors is Another way to raise capitals too, this is done by looking for venture capitalist. Click here to read about it, Scroll to the ending of the post. You will get an insight into how you can raise finance in Nigeria.
Still on How to start exportation business in Nigeria
Write a Business plan
A business plan is like the pillar of your export business. It contains all the laid down strategies and plan you have thought out in order to make your export business a very successful one. Business plan is very important in every start up business and shouldn’t be neglected for once. Read more about business plan in Nigeria here.
Register your business in Nigeria.
You need to register a unique name for your export business with corporate affairs commission.
Register your company with Nigerian Export Commission. Nigerian customs has made it compulsory that every business in Nigeria should be registered. You can register yours in their official website {nepc.gov.ng}
Head straight to your bank to Fill out the form NXP and get all the required licenses you need. (This is where your mentor comes in too.)
Get your services online.
Create an official business website for your exportation company and try and do search engine optimization to rank your exportation website on Google. We can also do that for you and also design your professional logo. Click here to see plans.
Get into action.
Now that everything is put in place, its time to start exporting. Don’t let any challenges draw you back. In every business you will always see ups and downs but don’t be discourage by the downs. Focus on the ups and be persistent enough.
Frequently asked questions on how to start exportation business in Nigeria.
Question: What is Nigeria’s major export?
Answer: the major export of Nigeria is crude oil supply and India is our largest exportation country.
Question: What are cash crops in Nigeria.
Answer: The major cash crops in Nigeria are Cashew nuts, cassava, palm kernels, cocoa beans, groundnuts,Kolanut, palm oil, plantain, banana, soybeans, yam, rubber , rice millet and melon etc.
And that brings on to the end of our article on how to start exportation business in Nigeria.
I hope you learnt a thing or two?
Written by Godwin,C.E.O incomenigeria.com. Click here to read about my journey so far as an internet entrepreneur.
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Impressive article. Exportation is very technical. Many people will offer this information at a cost and you just did for free. Thanks alot!!
I will also love to export some agricultural products, I therefore still need your assistance in this regard
How do I get a mentor.
Am want to start exporting business but don’t know much about it
I need people that will buy charcoal internationally, I have a lot of charcoal threes around me but the buyers are my major problems.