Best Business Ideas to start in the USA, Canada or Nigeria - Small Business Ideas

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The increasing trend in the business world today is that many individuals who have the required start-up capital are setting up their own businesses, becoming their own bosses, employing staffs to work for them and managing their own businesses. However, there are still many others who are left behind to think out the right business ideas and choose the most suitable business model for their locations respectively. This decision of what business to start is always pivotal, vital and critical to the success or eventual failure of the business venture on the long run.

In most countries of the world including the USA, Canada, Nigeria, India, Kenya and Philippines, most business ventures like farming, selling of rain coats and water supply business experience seasonal fluctuation of core activities while many other businesses run all round the year and generates maximum income for you on a consistent basis.

[Post Image Courtesy of Sira Anamwong at FreeDigitalPhotos.net]

While setting up some businesses may require the entrepreneur a very little or no start-up capital and costs, other businesses like the capital intensive ones will require the business man  to raise huge funds, source for massive capital and make heavy monetary investments for the business to start moving forward smoothly.

Considerations for running costs, availability of raw materials, nearness to the market and customers, business loans, financing facilities, Bank overdrafts, interest rates, corporate social responsibilities to the operating community, availability of skilled labour, technological requirements among many other significant factors surrounding the business environment are made so as to be able to make the right business and investment decisions.

Business analysts and experts will suggest that before you make a choice of the best business to start in your area, you should first analyze your business environment properly using the PESTEL analytical tool which assesses the business environment for Political, Economic, Social, Technological, Ecological and Legal factors that will affect the propose business in one way or the other. Also, a proper risk profiling, mapping and assessment for the said business idea will go a long way to identify risks facing such business model. From the results, you will now be in a better position to choose the best business idea to start in your area and start making money at minimum risks and investments as well.

Worth mentioning too is the fact that some business ventures may need special expertise and Technological Know-How for a successful set-up and management as well. However, others may not require such resources but yet, still remain viable avenues for generating massive profits, returns and income for you.

So, you should note it clearly that as environments varies, so does business prospects and success too. A business idea may work out excellently in the USA, fairly in Canada and fail woefully in another location for instance as a result of business environment factors. Using the guide that I have laid down for you so far in this article, you should be able to figure out the best profitable business ideas to start up in your area successfully whether you reside in the United States of America (USA), Canada, Nigeria or India.

Taking Nigeria as my base with special reference to Ibadan in Oyo State, the 6 best business ideas that I can start in Ibadan to make a lot of profits for myself includes the following:

(1).       Poultry Farming Business

(2).       Starting a Mini-mart or Supermarket

(3).       Investing in Real estate and Landed Properties

(4).       Starting up a School for Students of any level of my choice

(5).       Trading on House Construction and Building Materials

(6).       Livestock farming (Goat farming and cattle rearing)

I am done with listing mine. Now feel free to use the comment box to list out the best investment opportunities for Beginner entrepreneurs in your location.

I hope you enjoyed this article? Thanks for reading and come back here every day for more interesting information on the best small scale businesses which you can start today and become a millionaire as soon as possible.

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