Guide To Start Exportation Business in Nigeria
A few years ago, exportation business in Nigeria for so many was a business of the future but now, a lot of people are becoming aware of the business and it has become business of the now.
This article is going to give a guide on venturing into exportation business. For any business one wants to venture into, getting enough information about the business is very important.
Do you want to start exportation business in Nigeria?
So, if you are considering going into the exportation business, do well to pay close attention to this guide.
With that said let’s get down to the main thing.
Contrary to a common perception by so many people, exportation business is not all that complicated. But I must warn you, it could be when you meet the wrong people. Another thing that can make it really difficult is getting the wrong information or not paying close attention to details.
Also, it is good to know that it is very lucrative especially when you choose the right products to export.
OUR GUIDE TO START EXPORTATION BUSINESS IN NIGERIA:
Looking at the Nigerian export market, it is very wide and can also take a while to find your way. On the other hand, meeting the right people makes it really easy. The people you wish to meet should have experience in the business and should also have a verified physical address where you can go to in case of an issue. I can’t emphasize this enough, people you wish to work should be people with a physical address.
Most importantly, you should also do a background check on them to see if you will find anything suspicious or a bad record.
After meeting trusted people, the next thing is to decide on what to export. Your decision should depend on how you want to get them and the easiness of getting the commodities when compared to others.
Another thing is comparing how profitable it is to export a particular commodity with another. You might not get everything right from the beginning but along the line, things will become clearer.
Let’s look at the most commonly exported commodities in Nigeria.
1) Charcoal: Information has made us aware that countries in Asia, Europe and America demand for charcoal is very high. Just you should know, Nigeria has one of the best charcoal in the world.
So, many exporters in Nigeria are already exporting charcoal currently.
2) Oils: Countries that experience cold in large part of the year also demands oil in high quantity.
This is a lot of people’s choice when it comes to exportation as it is quite simple to package these products. Some of the oils in demand are Palm oil, Coconut, Sesame oil e.t.c.
3) Agricultural Products: Nigeria has a lot of agricultural products that people in foreign countries need. One well-known product is cocoa, it is in high demand in some European countries.
Cocoa is refined to chocolate which tastes really good and the foreigners love it.
CAPITAL: Your capital will depend on the size and types of goods you want to export. In any case, you should have a sizeable income that will cover the cost of getting the goods and also paying for any necessary papers.
You will need to get licensed to start exportation business in Nigeria. Make sure you have all requirements before starting as you don’t want a problem when just starting a business.
GETTING A BUYER: One part of the entire plan you will need to take very serious is your buyer from the other end (Country). The good news is, getting a buyer is not difficult thanks to the internet. If you meet the right from Nigeria, they should be able to link you up with a buyer.
CONCLUSION:
You have to be careful, don’t rush into the business. Also, pay attention to details as ignoring this can lead to dealing with the wrong people.
You May Also Want To Read This: 4 Things You Must Do Before Starting An Online Business In Nigeria
Image by Paul Brennan from Pixabay
