Want to start export business in Nigeria? the five step will challenge you to act.
Nigeria is a land of milk and honey unarguably boosting of many rich agricultural and mineral resources still underutilized that can add economic advantage to the country and improvement in the standard of living.
The resources are found in virtually every location in the country and because it’s still a virgin sector, it’s an opportunity for investors to explore this business by processing the raw material either for export or local consumption.
Why you need to start export business
For those who are eager to know why they should start export business in Nigeria, I offer you the following six reasons.
1. This is still a virgin business that needs people to explore. With the federal government making plans to see that more goods are exported that imported. When you start export business, you equally are helping in growing the economy and strengthening our currency.
2. The business can be done in the comfort of your home. Using the internet, you can find importers.
3. You don’t need to produce the product in other to export. You can buy the product from a producer to export.
4. You’re building new relationship overseas that will be beneficial in the long term.
The steps to start export business in Nigeria
The following steps are basic steps for anyone who wants to start and be successful in export business in Nigeria.
Step #1: Know what it takes
Don’t just jump into the business just like that. The business of export can be difficult to understand for a newbie without knowing the nitty-gritty of the business. Get to know how the business works, the guidelines for export and the licensing that is required to make you meet the requirement for export.
In recent times, there has been increasing awareness for the business of export in Nigeria. This is evident in cities like Abuja, Lagos, and Port Harcourt. That is a sign that more people are been encouraged to start the business.
Step #2: Choose your product
There are varieties of product you can export with little stress, but the focus is the most important thing here. Just focus on the products that will be readily available in the amount that will meet the customer demand when the need arises at any time.
What can someone export? Below are some of the product you can export from Nigeria.
You must not produce this product in other to export, you can equally buy it from someone who is producing and selling it.
Step #3: Make your business official
Legalize your business by registering your business. In Nigeria, the body charge for registering a business name is the corporate affairs commission. This makes your business official and legal.
Don’t stop there, you’ll need to provide your client with evidence that you’re legally a business known by the government not out to cheat. Provide the evidence of registration and business address. This builds credibility between you and your client.
Step #4: Find your exporter
This is probably the hardest part, but in my opinion, this is the pass. Today with the internet, finding buyers is easy. There are various trade websites also called B2B sites that connect you with buyers at the comfort of your home and the good news is not necessary seeing them.
To find importers, you’ll need to join this site and make your presence known. Get them to what your products are. Give them benefits not just features.
Step #5: Exposer your products
You’ve told your importers about your product but have not seen it. You can start creating videos or pictures of your product and share them with your prospective importer. You can also showcase your products listings in trade fairs to boost your product promotion.