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Every business venture is an important one. However, some businesses are more crucial than others and as such, generate better profit margins. The location and lifestyle of people residing in a place are major factors that influence the business flow and growth.
Abuja being one of Africa’s emerging cities, has quite a large population and business owners have continued to explore business opportunities that appeals most to the residents of Abuja. We have come up with a list of the five (5) most important businesses in Abuja.
Real Estate
With a population of eight hundred thousand (800,000) people or more living and working in Abuja, and very expensive accommodation costs, real estate is perhaps the most lucrative of businesses in Abuja.
Arguably, the most important priority of anyone who has recently got a job in the city or has reasons to relocate to the city is to get a roof over their heads.
If you have enough funds, buying landed properties in developing parts of Abuja and selling when they appreciate is a great way to start your trade in real estate.
If you also decide to buy lands and develop into buildings of various types with intentions to give the apartments out on rents, you will also be making so much profit from cashflow.
In the end, you do not always have to have money to buy land or build a house before cashing in on the Abuja real estate trade. There is a market for realtors/house agency, estate managers and service providers, estate consultancy, etc.
Real Estate is no doubt one of the 5 most important businesses in Abuja right now and so if you intend moving to Abuja, its one of niches you should think about as it would help you earn much more than you ever imagine.
Political communication
Abuja being the political seat of Nigeria is home to plenty political heavy weights and this makes political communication one of the most important businesses in the city.
Politicians are often on the look out for people who can handle their public image better, write speeches, act as advisors etc.
Managing the social media accounts of big politicians is creating revenue for a lot of people in the city.
It is no secret that most politicians here outsource the job of bantering with Nigerians on the streets of Twitter to people who are capable of representing them well for very competitive wage.
To be successful at political communication doesn’t require a particular course of study. A dogged knowledge of the political climate of the country and proactiveness to solving problem before they even happen are the most important qualities required to be successful at this job.
ICT (Information & Communications Technology)
Ever heard, ICT is the new oil? Once upon a time, oil workers were the only people who pulled in millions with their jobs. Today, the world is changing and ICT has changed the game. People who deal in ICT in Abuja are making a killing from the business and this should not be a surprise to anyone.
Most residents of the city are fascinated by the possibility that communication technology has to offer and even if all you do is sell phones and accessories, you are sure to generate great profit.
Besides selling of computer hardware, people engage in teaching others computer skills for a price. There are also software developers who work with companies to create applications and company software packages.
There are also website developers and graphic designers who create websites and designs for companies and individuals. The thing is, ICT has a lot of niches, offering you a wide range of possibilities to create wealth and guess what? Abuja is a perfect market for you.
Corporate Event Management
Events such as, weddings, seminars, conferences, church programs, birthdays, etc happen on weekly or daily basis in Abuja; this makes event management and planning quite a lucrative business to run in the city.
For events, halls, parks and gardens are often used, this generates profit for owners of such outlets. Getting a venue for your event isn’t all there is to organizing one; this creates room for the services of an event planner, an event décor, an event caterer and a host of other event service providers.
Branding
With the capital city having so many start-ups, branding companies have come to stay. Companies are often caught in the web of poor advertising and placement and this is the problem branding companies solve.
Branding companies help brand and position new companies at the top and help rebrand companies that are losing face and reposition them for better visibility. Investing in these branding companies is one of the best ways to create wealth in the capital city as they are hardly ever out of business.
This is 5 most important businesses in Abuja this 2019, I know there are a lot more than just 5, but then, always feel free to add more using the comment feature below this post and if you have any criticism, feel free to contact us using the details on the contact page.
