The Technique For Generating Business Ideas

Potential entrepreneurs require guidance on how to generate business ideas. They are also expected to identify, assess and utilize business opportunities to their advantage. 

It is against this background that effort is made in this section to guide potential entrepreneurs to generate business ideas and explore available business opportunities. 

Business opportunity is an attractive investment idea or proposition that provides the possibility of a return for the investor/risk taker. Such opportunities are presented by customer requirements and lead to the provision of a product or service which creates or adds value for its buyer or end user. 

Nigeria, South Africa, India, China and the USA for example are lands of vast and rich human and natural resources with exceptional opportunities for full development. There are creative, innovative and profitable possibilities which offer a range of opportunities for the young people with the zeal to develop their skill and also driven by achievement motivation. 

There are diverse opportunities in the following areas for the imaginative, creative, inventive and innovative minds such as: 

1. Stone and Mineral based industry 

2. Chemical and Allied industry
3. Petroleum industry both upstream and down stream
4.  Mechanical and metallurgical industry
5.  Electrical industry
 6. Electronic industry
7.  Forest based industry
 8. Agro-based Allied industries
9.  Rubber based industry
10.  Leather industry
11.  Water Resources based opportunities
 12. Service Industry
13 Miscellaneous activities such as Pharmaceuticals, Paper processing etc.

 Potential and active entrepreneurs can always use the strength, weakness opportunities and threats (SWOT) model to identify opportunities around them. 

Look around you today, there can possibly be an opportunity waiting to harnessed. Have a wonderful day.