To start up a business in Nigeria is not a child’s play, from choosing the best states to start a business, to getting legal documents, capital, etc really needs thorough and great attention.
When you intend to start out a business, one needs proper feasibility study. Your feasibility study includes the type of business you want to practice, capital needed, tools needed, as well as LOCATION. Hence, the need to bring you the very best states to start a business in Nigeria.
In one of our articles, we talked about business ideas you can venture into, but knowing the type of business you want to embrace is not enough, as so many factors needed to be checked as well.
Citing a location best suitable for your business(especially here in Nigeria) can be a very tricky one, because one needs to consider all factors necessary to facilitate good returns for your business.
There are several factors that need to be considered, and with the help of our team, we have been able to narrow down 10 best states to start a business in Nigeria.
How to know best location for your business
The following factors were put into consideration before arriving at the best states for your business.
- Standard of Living
One of the very first thing to consider before starting out on your business journey is accessibility or mobility of your location. How accessible is it for prospective clients and customers?. How easy will it be for your clients to locate you? Will they not eventually lose interest after several calls have been made to describe your place, yet they can’t?. So, this is one of the major factors you need to checkmate.
Security is also a core factor to consider when choosing your location. How peaceful and cool is the place you are envisaging to start your business? Many business have been forced to shit down or changed location due to one violence or the other in their previous places.
Standard of Living
Standard of Living, the way and social life of the people in the area you want to choose matter a lot. Does your business support their way of life. This factor is very crucial to your choice of location one really needs to check whether your business will thrive in that area.
Back in the day, this could have been the only factor or criterion to starting a business. But today so many factors constitute to the success of a business.
The fact that your choice of location is populous doesn’t guarantee high sales, only if you have a reputable and well structured plan does.
But then citing your business in a popolous environment gives that great visibility to your business, a great factor you equally need in business tricks.
So our team has been able to narrow down the 10 best states to start a business in Nigeria using the above criteria as a case study.
10 best states to start a business in Nigeria
- Cross River
It’s not surprising Lagos takes the number one spot on our list. Lagos is a city well known from all parts of the world. It is located in the Southwestern part of the country. Lagos is the commercial and economic capital of the country, Nigeria. Lagos has been the landmark for successful business for ages. All businesses take their root from this great city. Everything needed for a business to thrive is actually right there in the state. Are you a marketer , Dropshipper, importer – name it, Lagos is the best location for you as it encompasses all the major ports in the country. It’s very popular. Good security control, very accessible, good social way of living, every factor you need to succeed in your business career ticks all boxes perfectly.
Rivers state is another great location for your business to thrive. It is located in the southern part of the country. Most big companies are situated in this beautiful state. It’s capital, Portharcort, which is one of the leading commercial hubs in the country; houses the biggest oil refinery plant in the country. Good and excellent infrastructures abound in the city and one of top states that has high number of companies abd industries.
Anambra is situated at the Eastern part of the country. It is one of the top business oriented states in the country. What helps its growth is the fact that it is located along the Niger River, connecting the south to the north. One of its cities, Onitsha, is one of the oldest, best and greatest market places in the country. Another thing that helps its growth is an international cargo port in this beautiful state richly connecting other countries to Nigeria.
Abuja is the capital of the country. It is strategically located just at the centre of the country. It serves as the administrative capital of the country, reason it is one of the fastest growing cities in the country. All the top figures in the country are living there, hence, it’s imminent growth. It is very easy for top and public officials to always find your business, hence making way for your business to thrive. Good roads, good security control are all available in this beautiful city of the country.
Kano is situated in the northern part of the country. It is one of the most populated cities in the country. It’s dense population is a very good advantage for your business to thrive and gain so much visibility. It is also of the commercial hubs in the Nigeria, especially as it serves as the commercial center to the northern part. Good roads, good security control measure, dense population all add up together to make Kano a great place to start your business career.
Another southern part making the list is Cross River state. It is also one of the densely populated states in the country. It’s capital, Calabar is one of the visited places in the country, even from outside the country because of their rich traditional culture. Another factor making the state a place to consider for your business is that, it shares borders with the neighbouring country, Cameroon, thereby creating so many job opportunities and business ideas around the state.
Oyo is another great place located in the Southwestern part of the country. Its capital, Ibadan, is the fourth largest city in Africa. It is also grossly populated, and houses so many companies and industries, local and foreign investments abound in this great city of the state. Good roads, good security control, and top Oyo government officials are all situated in this city, making it a great place for business careers, as it’s going to hell you connect with the top public figures in the state, and Nigeria at large.
Ogun state is one of the best places to start your business career. It is located in the southwestern part of the country. What really makes this great place an excellent location for is that it shares borders with our neighbouring country, Benin Republic. It is not only that, it shares borders with Lagos, the economic and commercial capital of the country. Good roads, good security control measure and most top and public figures(especially in the nollywood) live in this great state, hence a good place for you to Kickstart your business career.
Delta is a state located in the southern part of the country. It is also among the best commercial and economic cities in the country. It’s capital Asaba, and Warri another great city make up two of the most popular cities too. It houses oil refinery plants as well, thus creating so many job opportunities and business ideas that one can venture into. It is also a tourist attraction to foreigners, enabling their number on rise.
Kaduna is a beautiful state located also in the northern part of the country. Arguably one of the most populous cities in the country, and in the world at large. There’s good security control measure as it houses one of the military base in the country. Good roads is also not far fetched in the state, thereby giving you good Accessibility options for your business.
As we’ve discussed above, choosing your business career alone is not enough, one carefully and strategically needs to choose the best and most suitable place for your business ideas.
If you have any suggestions or questions, reply to this in the comment section and we’d gladly attend to your questions