In this article, I will be talking about the list of business to avoid in 2020. Just in case you were planning to venture into one of the businesses I will be listing below, I think it's high time you change.
Just in case you were planning to venture into one of the businesses I will be listing below, I think it's high time you change your mind.
Starting a business is the act of buying products at wholesale price or low cost and selling them bit by bit just to get profits. Every citizen needs to have a source of income and a lot of people are trying their apparent best not to get broke.
As a Nigerian, we need to aspire for the future all the time, we need to look for the best business to venture into that will fetch us a lifetime profit.
They are bunches of business we need to resist in Nigeria, most especially businesses with low profits, business with low profits are a bad investment.
They are some businesses that look promising, but when you venture into any of them, it will turn out to be a bad investment without any returns.
When you want to start a business in the country, you need to make in-depth research on the business before you go into it or you seek advice from business consultants.
Here is the list of business you need to avoid in 2020
(1) Real estate business
Real estate business can be a bad investment sometimes, although some people venture into it and they earn a good amount from it annually. But I won't advise you to go into it if you don't understand the business pros and cons
Real estate business can be a bad investment sometimes, although some people venture into it and they earn a good amount from it annually. But I won't advise you to go into it if you don't understand the business pros and cons
If you venture into real estate business without seeking advice from business consultants or making research on the business, you will risk a lot of money from it.
(2) Motorcycle business
Some years back motorcycle business used to be a lucrative business in the country but these days the business is very slow and that's because the motorcycle has been banned in some states in Nigeria.
Some years back motorcycle business used to be a lucrative business in the country but these days the business is very slow and that's because the motorcycle has been banned in some states in Nigeria.
Some people buy a motorcycle and hire people to ride it for them and deliver the money to them, while some use it as their private business but the two parties aren't finding it easy and that's because they have prohibited motorcycles in Nigeria, most especially in the urban areas.
(3) Consumable goods
If you sell consumable goods like beans, bread, yam, potato In large quantities. Make sure you sell it in an environment where you will make quick sales or else you will risk all the money you invested in the business. If you don't sell them on time they will become rotten and you won't be able to sell it.
If you sell consumable goods like beans, bread, yam, potato In large quantities. Make sure you sell it in an environment where you will make quick sales or else you will risk all the money you invested in the business. If you don't sell them on time they will become rotten and you won't be able to sell it.
(4) Forex trading
Forex trading is another business you need to avoid in Nigeria, if you don't have good knowledge about forex trading don't ever venture Into it or else it will turn out to be a bad investment. The business is meant for people who are financially stable because you heard Kayode earned a huge amount of money from forex trading doesn't mean you will also earn from it.
Forex trading is another business you need to avoid in Nigeria, if you don't have good knowledge about forex trading don't ever venture Into it or else it will turn out to be a bad investment. The business is meant for people who are financially stable because you heard Kayode earned a huge amount of money from forex trading doesn't mean you will also earn from it.
The only time forex trading becomes a lucrative business is when you understand the business. So I will advise you to make in-depth research on it before you go into it.
(5) Season products
There are some products that are meant to be sold in each season, In Nigeria, we have two different seasons, Which is the raining season and dry season. They are some things that are meant to be sold in a different season, if you sell them at the wrong time, you will risk the money you invested in the business.
There are some products that are meant to be sold in each season, In Nigeria, we have two different seasons, Which is the raining season and dry season. They are some things that are meant to be sold in a different season, if you sell them at the wrong time, you will risk the money you invested in the business.
(6) Ponzi scheme
The Ponzi scheme is very hazardous. I once heard about a lady that nearly committed suicide because she invested all the money she has been saving for over a year on the Ponzi scheme. A lot of Nigerians have been duped by this Ponzi scheme, I will advise you to ignore anyone you come or else you will regret venturing into it your mind.
The Ponzi scheme is very hazardous. I once heard about a lady that nearly committed suicide because she invested all the money she has been saving for over a year on the Ponzi scheme. A lot of Nigerians have been duped by this Ponzi scheme, I will advise you to ignore anyone you come or else you will regret venturing into it your mind.
Starting a business is the act of buying products at wholesale price or low cost and selling them bit by bit just to get profits. Every citizen needs to have a source of income and a lot of people are trying their apparent best not to get broke.
As a Nigerian, we need to aspire for the future all the time, we need to look for the best business to venture into that will fetch us a lifetime profit.
They are bunches of business we need to resist in Nigeria, most especially businesses with low profits, business with low profits are a bad investment.
They are some businesses that look promising, but when you venture into any of them, it will turn out to be a bad investment without any returns.
When you want to start a business in the country, you need to make in-depth research on the business before you go into it or you seek advice from business consultants.
0 Comments