The tech industry is one of the biggest drivers of the global economy. Although Nigeria was ranked rather poorly in the Global Innovation Index (GII) at 114th out of 129 countries, there were market indications that the country was bound to grow to over £67 billion by the end of 2021.
Notwithstanding the status quo, Africa as a whole is a growing base for the adoption of technology. With the new generation of youths who understand the value of technology, Nigeria and other African countries are set to witness a massive growth in the tech industry soon.
If you want to take advantage of the business opportunities in the tech industry, here are 35+ lucrative tech business ideas you can start in Nigeria, Africa and many places around the world:
1). Phone Retail Business:
Arguably the most common tech-related business idea, retailing phones requires little mental startup effort as long as there is sufficient capital in place. Plus, it is important to employ expert marketers who can transverse towns and sell mobile phones, including setting up shop in a place where a lot of phones are sold.
Selling phones never go out of business in Nigeria, Africa and many places around the world because there are always new models and brands to capture the interest of the public.
2). Web Development Services:
A large percentage of tech businesses is conducted online. Similarly, both large and small businesses, as well as individuals, now use websites to render services or provide information to members of the public.
Based on the high demands for websites, developing and designing websites never goes out of style. Ranging from front-end to back-end development, web development is a tasking exercise that requires adequate training and knowledge of tools.
3). UX/IX Design:
UX/UI design is a type of development that involves designing suitable user-friendly platforms on mobile and desktop applications. With the growing adoption of mobile applications by businesses, UX/UI designers will be in hot demand across the globe in a few years.
4). Video Game Design Services:
Video games have been around for quite some decades but technology has strongly influenced its evolution over time. Today, the attention of the world is drawn towards hyper-realistic games that make players interact with other players in a virtual world.
Besides this, designing video games involves certain technicality that requires adequate tech training. The market for video games is global and competitively broad. Hence, game designers are always in great demand by gaming companies.
5). Mobile App Development Services
As part of the development witnessed across multiple sectors of the global economy, the use of mobile applications is now common in businesses, especially in the corporate world. Unlike when apps were developed for basic mobile functions and games, they are now used to conduct financial transactions, save and transfer money, make orders online, and so on.
This creates a business opportunity for app developers in Nigeria, Africa and many places around the world. As an app developer, you get to partner with large companies and small businesses.
6). Cyber Café Business
The cyber café business thrives where people need internet services but little access to computers and that is almost everywhere in Africa now! However, it has been found to attract more sales in towns, student communities and corporate cities. This tech business requires some startup capital but you can start with whatever is available as long as it covers basic costs like a rented space, computer gadgets and internet facilities.
7). Computer Training Business:
A common trend among most school leavers in Nigeria, Africa and many places around the world with relatively low knowledge of how to use computers is to enrol in a computer training school.
Skills taught at such centres include typing, PowerPoints design, use of Corel draw and other basic computer knowledge. Starting a computer centre dedicated to training people can turn out to be highly lucrative within three years of starting up if well managed.
8). Website Analytics Services:
All web owners, digital marketers, and brand managers, among others, understand the significance of analytics in their respective operations. To help them make vital business decisions, web operators need to understand the success of previous campaigns.
Such analytics can be useful for determining the preferences of clients and their behaviours, and the information can be used to make vital business decisions. It is the job of web analyst experts to help entrepreneurs in Nigeria, Africa and many places around the world study these data and convert them into useful information.
9). SEO Specialist Services:
A search engine optimization specialist is responsible for equipping a website to rank favourably on search tools. The world of digital information is a rather competitive one. To get their services or products to potential clients’ awareness, digital businesses struggle to rank on the first page of search engines.
To get the better of their competitors, websites, brands and businesses operating on search engines need the help of SEO experts in Nigeria, Africa and many places around the world.
10). Augmented Reality (AR) Design Services:
Augmented Reality (ER) technology has gained wide acceptance across different industries, but mainly in entertainment, including video games and music videos. Designing such interactive visuals require great training but it is worth the effort in the long run. Starting this business also requires substantial capital, no thanks to the technologies involved.
11). 3D Design Business:
Where AR technology is relatively new and used primarily for videos and video games, 3D designs have multiple uses across videos, photography, interior decoration and architectural designs, among other industries.
3D designs have continued to prove essential in almost all facets of life, and the demand for 3D designers is on the rise. Starting a 3D design business is a great way to delve into the tech industry.
12). Social Media Management:
Social media platforms have become great platforms for small businesses to reach clients and for brands to grow their communities, so social media management is a highly needed service. Similarly, celebrities and public officials need the help of trained social media managers to interact with followers and other members of the public.
The best part is that efficient social media management never runs out of style, as it has been found to increase sales, and help businesses achieve their objectives.
13). Cybersecurity Services:
Another lucrative tech business for entrepreneurs is the cybersecurity business. The need to protect delicate personal information, company and other data make cybersecurity an essential service. Such services include protecting websites from hackers, information thieves, plagiarists, and so on.
14). Tech Blogging Business:
Blogging is a multifaceted business that comes with a lot of perks. It can apply to any and every sector of life. All the blogger has to do is pick a specific niche and create engaging content around it for the benefit of the public. Specifically, the tech industry is one that invites people to seek information. Any interested person can cash in on this existing need for information and build a business out of tech blogging in Nigeria, Africa and many places around the world.
15). Tech Podcast Business:
Like blogging, creating podcasts involves creating audio loaded with information and content for people interested in the tech industry. The success of this business lies in generating a massive audience and that is achievable through consistency. You can also partner with radio stations and other tech podcast channels.
16). Start A YouTube Channel:
Another interesting way to combine the media with the tech industry is to start a YouTube channel and post tech-related videos. Such videos may be instructional videos or discussions or interviews with successful individuals in the industry. The bottom line lies in offering the viewers value.
17). Tech Consultancy Business:
Starting a tech business is not often a walk in the park. Decisions ranging from what skills to acquire to what particular tech business to start could sometimes be demanding. Hence, most potential tech investors require the help of veterans for guidance.
Individuals with at least a decade of experience in the industry are in the best position to start a consultancy business.
18). E-Commerce Platform Design Business:
The internet is a proven platform for quick sales and a good avenue to build long-term relationships with both existing and potential customers. One of the avenues to achieve this is to start an online store or e-commerce platform.
Designing a digital store requires strong web development skills. There is a growing demand for this service since most businesses are digitizing their transactions.
19). Digital Adverts Business:
Ads are necessary to reach potential leads. As a matter of fact, a greater percentage of the efforts involved in most digital businesses are centred on creating ads to get new customers or clients. Therefore, designing ads is a great business in the tech industry.
Besides designing ads, one can also start an ad network service to help businesses target the right population with effective ads that will likely get netizens to convert.
20). Operating System Design Business:
Every computer or digital gadget requires an operating system to function. Designing an operating system software for any device requires high-end training and adequate programming skills. However, it is a lucrative skill employed by large companies that produce computers, mobile phones and related gadgets.
21). Digital Marketing Business:
Digital marketing is simply selling online! The central point of all digital businesses is to get across to customers in Nigeria, Africa and many places around the world. The internet has created endless opportunities for businesses to bridge the gap between themselves and their customers and also to invite potential ones.
Depending on the business, digital marketing requires adequate knowledge of tech. Where there is a need for advanced technical skills, businesses are quick to employ the services of tech experts. This implies that even without the resources to start a digital marketing business of their own, tech experts can still benefit from the digital marketing business.
22). Web Hosting Services:
Web hosting involves providing web owners with an interface to post a website on the internet. Starting a web hosting business involves high-tech skills and expertise. Whether it is dedicated hosting, shared hosting or collocated hosting, there are various hosting products for individuals to benefit from.
23). Email Marketing Tool Design Business:
As part of e-commerce channels, email marketing has been in use for quite a few decades, thanks to the effectiveness of digital mail. Since most people in the corporate world regularly check their emails, emails are great platforms to advertise products and services.
Therefore, building an email distribution platform can be a great business opportunity for people interested in joining the tech industry.
24). Computer Accessories Retail Business:
Interestingly, tech business ideas are not only for tech experts. Virtually anyone with sufficient capital can start a computer accessories business in Nigeria, Africa and many places around the world. Common accessories such as mouse, cables, spare keyboards, and so on, are key market drivers in this business.
25). Tech Tutoring Business:
There are always people looking to learn one tech skill or another. As a veteran or experienced tech expert, you can teach others and earn income as a result. Since companies understand the value of these skills, they are mostly willing to pay handsomely for them.
26). Computer Repair Services:
Another lucrative tech business idea in practice in Nigeria is the computer repair business. Repairing tech gadgets can be a profitable business if properly planned. It is important to locate one’s computer repair business in a town or a student community.
27). Tech Magazine Business:
In addition, it is possible to earn money from taking the tech industry to print media, especially magazines. You can publish trends in the tech industry as well as interviews with established people in the industry. The success of this business lies in creating a vast readership.
28). System Analysis Business:
Systems analysis in the tech industry involves studying the procedure involved in any tech-related activity and looking out for areas in need of changes, upgrade, new strategies, and much more. This business requires an adequate understanding of specific tech operations, hence it is a highly lucrative one.
29). Robot Development Services:
Robotics as a field of technology has witnessed massive development and has continued to enjoy adaptation in several parts of the world. Thanks to artificial intelligence, robots can now write poems, sell in supermarkets and act as domestic staff. Developing robots could be a high-end tech project but it also creates job opportunities for experts in the industry.
30). Artificial Intelligence Development Business:
Similarly, artificial intelligence (AI) has influenced several sectors of the world economy. It invites experts in the industry from all over the world and creates a lot of business opportunities. AI has made several tasks easier and continues to contribute to development. Based on this, the sector is set to stay in demand for generations to come.
31). Digital Research Platform:
Contributing to scholarship in any walk of life requires research. However, conducting research is more demanding than it used to be decades ago but has been made much easier with the invention of research platforms. In essence, digital research platforms connect sample populations with researchers and make information collation easy.
32). Electronic Gadgets Rental Business:
Renting electronic or tech gadgets is a common practice in African countries. Events and other industrial activities require tech gadgets almost every other week, and this makes the gadgets rental business a lucrative one. Common gadgets often needed include projectors and musical instruments.
33). Music Streaming Platform Development:
Tech has long found its way to the entertainment industry and has contributed to the development in that sector in many ways. One such innovative development is using streaming platforms instead of CDs.
Since most artistes and music companies have adopted streaming platforms, building one and promoting it to the right audience can lead to the creation of a multi-million-dollar business
34). Social Media Application Development Business:
The success of existing social media platforms lends credence to the success of the sector. Despite the existing competition, creating a niche social media application where people can interact and conduct highly specific activities can be a good idea.
35). Software Development Services:
All forms of computers, ranging from smartwatches to laptops, use software tools that perform various functions for a great user experience. Programming such software tools require advanced tech skills. Notwithstanding, with the right skills and personnel in place, developing software tools could be a lucrative business with great prospects.
To Sum It Up
There is a massive drift shift of investments to the tech industry, and this is because the world has already evolved into a digital space and individuals, brands and businesses should align with the development. Based on this, people are constantly on the lookout for lucrative tech business ideas. If you want to take advantage of the business opportunities in the tech industry, you can choose from any of these 35+ lucrative tech business ideas you can start in Nigeria, Africa and many places around the world.
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