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21 Smart Business Ideas For Student Entrepreneurs In Nigeria

If you are a student in Nigeria, you are already burdened with lots of bills to pay and little or no family assistance to help out with. The idea of student entrepreneurs in Nigeria, might just be to pay the bills, but it can also transform into a life’s opportunity for some.

As a student, you may have thought of being a student entrepreneur. Maybe not, but majority of students worry about how to pay their bills, and enjoy a decent lifestyle while in school.

Some students only think about getting jobs in local stores, restaurants and pubs. They seek ways to earning small amounts of income to argument for the meager sum they are getting from their parents from home; considering some students parents are either unemployed or they

However, there are little or no such privileges for students in most cities in Nigeria. The level of unemployment for qualified and employable people still pervade the country, making it even harder for students to get part time jobs while studying.

Nigerian Students Income Statistics

The National Bureau of Statistics puts youth unemployment rate at 34.9% in 2020. That’s the year of the pandemic, when most students are out of school and have enough spare time in their hands to be gainfully employed.

Also, a 2019 report from Statista website shows that the estimated GDP per capita in Nigeria was around $2,229.85. But with high unemployment rate, no amount of GDP per capita can change the fortunes of Nigerian students.

Furthermore, i checked for the average student salary and couldn’t find any of such report anywhere, which shows that there is little opportunity for students employment in the country. So insignificant to be recorded. But when I checked on Payscale for the average teachers salary in, here’s what I got – an average base salary of ₦437,394 per year.

Definition Of Student Entrepreneurs

What’s student entrepreneurs? What makes student entrepreneurs? Do students in Nigeria who engages in any form of business see themselves as student entrepreneurs?

Student entrepreneurs is better defined as individuals currently enrolled in a school, who are actively pursuing academic coursework and still running a business of their own or with others as partners.

It’s different from student employment, where the only requirement is having a full or part time job while going through school as a full-time student. It goes beyond a student just working in the dorms, classroom and cafeterias. It includes working outside the campus in a well established firm.

Top Ideas For Student Entrepreneurs

In the past, most student entrepreneurs simply venture into buying and selling in school to friends and course-mates. But with the advent of online businesses, their scope and concept has enlarged.

I’m sharing with you some of the current student entrepreneurs ideas you can start doing now. However, you might need to first develop the idea into a workable business before investing your time and money.

I also recommend you write a business plan to help you understand all the angels, challenges, opportunities and rewards that’s possible in any of the ideas that you choose to venture into.

Here are my list and brief citations:

  • {1} Essay Writing
  • {2} Tutoring Service
  • {3} Transport to Student Events
  • {4} Instagram Influencer
  • {5} Mobile Game Developer
  • {6} Personal Trainer
  • {7} Language Class for Foreign And Local Students
  • {8} Freelance Web Designer
  • {9} Freelance Graphic Designer
  • {10} Freelance Copywriter
  • {11} Lecture Transcription
  • {12} Student Event Organizer
  • {13} Photography Services
  • {14} Market Research
  • {15} Proof Reading Services
  • {16} Hotel Cleaning Services
  • {17} Uni Team Sport Coach
  • {18} CV Design Services
  • {19} Chatbot Creator
  • {20} Campus Food Stall
  • {21} New Student Guide And Mentor

Now let’s take it one after the other and give brief description for each student entrepreneurs idea. You may find anyone of these great idea feasible to start now.

{1} Essay Writing

Essays are common in middle school, high school and college. You may even need to write essays in the business world. It’s not called Essay in business but reports. An essay is a short piece of writing that expresses information based on the writer’s opinion.

you can also offer to write articles for blogs. I hire article writers and most of them are students.

Youc an provide essay writing services to other students at a fee.

{2} Tutoring Service

In Starting a Tutoring Service you are putting your skills and talents to work by teaching others how to do what you’re best at. And People are hiring tutors in almost every area in which skills can be taught and acquired.

{3} Transport to Student Events

Wikipedia described Student transport as the transporting of children and teenagers to and from schools and school events. School transport can be undertaken by student entrepreneurs themselves (on foot, bicycle or perhaps horseback; or for older students, by car). They may be accompanied by family members or caregivers, or the transport may be organised collectively, using buses or taxis.

{4} Instagram Influencer

Instagram Influencers are Instagram users who have established some sort of credibility in their particular niche with an audience; who can persuade others by virtue of their content, achieved trust and authenticity.

You can sell these influence to advertiser and get paid.

{5} Mobile Game Developer

Game developers are people like you with math, computer, or creative arts skills. They spend their time programming and developing games. It includes programming console, computer, and mobile video games.

It’s good game changer for student entrepreneurs.

{6} Personal Trainer

A personal trainer is an individual certified to have some knowledge of general fitness involved in exercise prescription and instruction. They motivate clients by setting goals and providing feedback and accountability to clients.

{7} Language Class for Foreign And Local Students

You offer language classes to students who require knowledge of your native language or culture  to learn from you, if  you have the knowledge and the expertise to teach others.

{8} Freelance Web Designer

A freelancer is a self-employed person. That makes freelance web designer a self employed developer, content writer or even a blogger. However, he contracts a small or medium but rarely large) task from various clients and receives money when the work is done.

{9} Freelance Graphic Designer

The same applies to freelance graphic designer. Get online on platforms like Fiverr to sell your skills to clients that need it on a freelance basis.

{10} Freelance Copywriter

A freelance copywriter is a self employed copywriter. Freelance Copywriters offers a large variety of copywriting, editing and proofreading, and translation services.

{11} Lecture Transcription

Lecture transcription is the transcription of lectures, seminars or presentations delivered by professors, researcher, lecturers, teachers etceterra, in classrooms and lecture halls of universities and colleges. You can offer these transcripts for money to students who missed out on these lectures and wants to grab a copy of the lectures. You can brand yourself in school easily using word of mouth publicity.

{12} Student Event Organizer

Hosting a university event, whether small or massive, takes a lot of planning, organizing, and following up. A student event organizer takes this role and harmonizes the whole operations of organizing an event to deliver the best result.

{13} Photography Services

As a professional photographer, you may have to do more than just take pictures. You must offer salable item or service to your client base. Most clients want pictures for social media purposes. You better an also create an online community targetting your immediate communities.

{14} Market Research

Market research represents an organized effort to gather information about target markets or customers. It is a very important component of business strategy. It allows business owners to determine the feasibility of a business before committing substantial resources to the venture.

{15} Proof Reading Services

Proofreading services provides authors with expert and independent services into basic grammar and consistency check on their manuscript drafts, just prior to journal submission for production.

{16} Hotel Cleaning Services

Hotel cleaning services is to perform any combination of light cleaning duties to maintain private or commercial establishments, such as hotels, in a clean and orderly manner. Duties include making beds, replenishing linens, cleaning rooms and halls, and vacuuming.

{17} Uni Team Sport Coach

Working as a Uni team sports coach offers a rewarding career helping individuals and teams across all or specific sporting areas and abilities. As a sports coach, you’ll help people participating in sports to work towards achieving their full potentials.

{18} CV Design Services

Your job is to design CV resumes to demonstrate employability of your client in a much more interesting and creative way. Making each CV a completely unique resume that no one else has. You can also teach students on how to design their CVs.

You need to constantly show that you are brimming with fun new ideas. And Organizing important resume information more clearly and efficiently. Giving each client a design that matches their profile and personality.

{19} Chatbot Creator

A chatbot creator designs a piece of software that conducts a conversation via auditory or textual methods. Some of which are often designed to convincingly simulate how a human would behave as a conversational partner.

{20} Campus Food Stall

The trend of pop-up food stalls around campus, and the impact it has upon student lifestyles is a new student business idea.

Hungry students are a well-known feature of university campuses across the country. Instead of a sit down meal, students, with their busy schedules, are being inundated with a new variety of pop-up food stalls throughout campus, offering quick yet tasty on-the-go meals.

{21} New Student Guide And Mentor

Student Mentors provide help and guidance to first-year students. Mentoring helps students understand how their ambitions fit into graduate education, department life and career choices.

Challenges Of Student Entrepreneurs

Do Nigerian student entrepreneurs face challenges? Yes they do and a lot of them. Sometimes it’s too overwhelming for them. Even though students might be limited by the type of entrepreneurial work they can embark on because of the school time, it doesn’t make it more easier for them than normal entrepreneurs.

Here are some of the challenges Nigerian student entrepreneurs face all the time:

  • Finding adequate funding
  • Not having proper motivation
  • Lack of external support or assistance
  • Little knowledge about being an entrepreneur
  • Balancing time between school and business
  • Inexperience about running a business
  • Providing better customer service
  • Not having the right ideas of business

Financing For Student Entrepreneurs

Although there are no specific funding program for student entrepreneurs, but there are funding opportunities for entrepreneurs. And since student entrepreneurs are also entrepreneurs, you can also explore any of these options.

Here’s my list of some of these funding opportunities for student entrepreneur that’s guaranteed to fund your ideas if you can prove it’s a bankable one.

Tony Elumelu Foundation Entrepreneurship Program. The foundation targets 10,000 African entrepreneurs. You can explore this funding opportunity through the foundations website here.

Home

African Development Foundation is a U.S. foundation for development in Africa. It provides seed capital for entrepreneurs, technical support and mentorship. It’s primary target is youth-led businesses. You can explore more information on its website here.

Business Development Fund For Women (BUDFOW). This funding is from the Federal mInistry of women affairs and social development, under the Bank Of Industry (BIO)program. It carters for women entrepreneurs. You can explore more information on BIO website.

African Women’s Development Fund is another funding program target at women. The support comes in form of cash and materials. Here’s the foundations website for more information.

Conclusion

As a student you have limited time to stay in and probably around the campus during the time of your studies there. But you can utilize this time to create a business that suits your lifestyle or knowledge.

Picking the right student business to start while you are in school should be based on your purpose, available time, potential and commitment.

You might also consider that not all student businesses can be carried over into the real world after your graduation. So, if you are thinking of continuation after school you should also pick wisely before you get started.

All these student business ideas are to help stimulate your ability to see opportunities. You can invent or discover other ideas to start as a student entrepreneur.

Chinedu David
Chinedu David is a business consultant with experience in oil & gas, hospitality, IT & telecom, consumer products, business strategy, marketing and distribution. He was the telecom editor for SuccessDigest for over a decade. And founded Mystore, one of the indigenous online marketplace in 2013. Drop a comment below and he will respond to your query. He can also be reached via email: nedu@myblog.com.ng or Call/Text/WhatsApp: 07087770518
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