Edo state is part of the 36 states of Nigeria located in the Southern part of the country and it was created on the 27th of August 1991 and its capital is called Benin City. Benin City is the biggest city in Edo state and it is the home of the Oba of Benin one of the top traditional rulers in Nigeria; other major towns in Edo state are Auchi, Ekpoma, and Agenebode. The nick name of the state is ‘The Heart Beat of the Nation’.
Edo state shares border with Delta state, Kogi State and Ondo state. The languages generally spoken in the state are English, pidgin, Benin, Esan and Auchi. As a matter of fact, the Benin Kingdom in Edo state is one of the Kingdoms in Nigeria that has a robust culture and a long history of civilization.
The economy of Edo state revolves around agriculture, crafts, tourism, commerce and trade. Edo state is in the forefront when it comes to the production of rubber, cashew nuts, palm oil, cassava and cocoa in Nigeria. The state can also boast of having large deposits of the following solid minerals; Granite stone, Lime stone, Quartz, Amethyst, Dolomite and Mica. The state is also notable for bronze works and the likes.
Let us quickly consider the top 10 profitable business opportunities an entrepreneur can start in Edo state;
10 Small Business Investment Opportunities in Edo State
Table of Content
1. Arts and Crafts Studio
When it comes to arts and crafts in Nigeria, Edo state happens to be one of the states that have a long history in the industry. People travels from both within Nigeria and outside Nigeria to Edo state to buy bronze works and other crafts. Although this art skill is passed from one generation to each succeeding generation, but if you are interested in this line of business, you can learn the trade. So, if you are looking for a profitable business to start in Edo state, you can consider opening your own arts and crafts studio in nice location in Benin City and you will have loads of clients from home and abroad.
Because of its location, Edo state is one of the best locations to establish a transportation company in Nigeria. As a matter of fact, it is very much easier to connect other parts of Nigeria from Edo state, little wonder most transportation companies in Nigeria has their base in Benin City. As an investor, if you have the financial capacity to compete with existing transport companies in Edo state, then it will be a wise decision to setup your own transportation company in the state. This kind of business is expensive because you would be required to purchase brand new buses et al.
3. Rubber Plantation
Edo state has one of the most suitable climate and soil for the cultivation of rubber in Nigeria. If you are interested in this line of business, then you should secure a farm land in Edo state to start your own rubber plantation. There are numerous companies from within Nigeria and outside Nigeria that you can supply raw rubbers to. Despite the fact that it may be a capital intensive business, it is still highly profitable and you stand the chance of recouping your investment within a short period of time.
4. Cocoa Plantation
Cocoa plantation is yet another agric related business that is thriving in Edo state. This is so because the climatic condition and even the soil composition in Edo state are highly suitable for the cultivation of cocoa. So, if you are interested in the Agric industry, then you can consider starting your own cocoa plantation in Nigeria. There are loads of companies both multinationals and small scale companies who will buy cocoa from you because it is their main raw material
Food processing and packaging company is one of the companies that will thrive in Edo state. If you are looking towards setting up your own food processing and packaging company, then you should consider locating the business in Edo state. You can specialize in the production of beverage, chocolates, garri, or even fruit juice. The truth is that you are sure of getting your raw materials and labor at a cheaper rate in Edo state.
6. Car Wash
Car wash business is another easy to setup business that entrepreneurs can start in Edo state. If you are conversant with the state you will realize that car owners struggle to keep their cars clean because of the nature of the soil over there especially when it rains. Thus, if you can successfully setup your car wash in a nice location in the state, you are sure of getting loads of clients daily.
7. Plastic Product Manufacturing Company
It is economical to establish your company close to the source of your raw materials and cheap labor for obvious reasons. One of the manufacturing companies that an investor can successfully setup in Edo state is plastic product manufacturing company because of easy access to rubber plantation et al.
Restaurant and bar is yet another profitable easy to setup business to start in Edo state. Just ensure that you target places with high human and vehicular traffic. The truth is that canteens / restaurants along the road where travelers ply enjoy huge patronage on a daily basis.
Because of the strategic location of Edo state, travelers connect other parts of the country from the state. In essence, one of the businesses that can thrive in Edo state is a motel. Just ensure that your motel is easily accessible and secured, and you will attract loads of clients.
10. Furniture Manufacturing Company
Edo state is one of the states in Nigeria where people travel to from all over the country to buy their furniture. This is so because the state can boast of having some of the finest trees that are used in furniture making.
There you have it; the top 10 business opportunities in Edo State.
- How to Register a Limited Liability Company in Nigeria in 5 Steps - February 26, 2021
- How to Start a Cement Distribution Company (Dangote, BUA, Ibeto) - February 9, 2021
- Writing a Cement Distribution Business Plan [Sample Template] - February 9, 2021