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  If you have a plan to set up a startup in an emerging market like Nigeria, there are startup types that would perfectly suit the market and there are some that won’t. Emerging markets like Nigeria, Kenya, Egypt, South Africa and Tanzania are often characterized by rapid economic growth, a rapidly expanding middle class, and increasing demand for goods and services. As such, there are many opportunities for entrepreneurs to start businesses that cater to the needs and preferences of this growing market. Here are six services that you might consider selling in an emerging market:
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  • Mobile Banking

With increasing access to mobile phones and internet connectivity in emerging markets, mobile banking has become an increasingly popular way for individuals and small businesses to manage their finances. Mobile banking apps allow users to make payments, transfer money, and check their balance, all from their smartphones.

  • Online Education

 With more people seeking to improve their skills and education in emerging markets, online education platforms have become increasingly popular. These platforms offer a wide range of courses, from technical skills to business management, and can be accessed from anywhere with an internet connection.

  • E-commerce

As more and more people in emerging markets gain access to the internet, e-commerce platforms have become a popular way for small businesses to sell their products and services online. E-commerce platforms allow businesses to reach a wider audience and make it easier for customers to purchase products from the comfort of their own homes.
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  • Ride-hailing

Ride-hailing services, such as Uber and Lyft, have become popular in many emerging markets as a convenient and affordable way for people to get around. These services are particularly popular in urban areas where public transportation may be limited or unreliable.

  • Home delivery

With busy schedules and increasing demand for convenience, home delivery services have become increasingly popular in emerging markets. These services can be used to deliver a wide range of products, from groceries to clothing and household goods.

  • Health And Wellness

 As incomes rise in emerging markets, more people are seeking out products and services that can help them maintain a healthy lifestyle. This includes everything from gym memberships and personal training to wellness retreats and spas.
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Conclusion

In summary, there are many opportunities for entrepreneurs to sell services in emerging markets, including mobile banking, online education, e-commerce, ride-hailing, home delivery, and health and wellness. By understanding the needs and preferences of this market and tailoring your products and services to meet these needs, you can build a successful business in an emerging market. Featured Image Source: Businessday NG
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This article was first published on 21st December 2022

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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One thought on “6 Best Startup Typologies for Emerging Markets”

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