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There are numerous ideas in this domain to pursue, and lots of developmental and sustainability issues to tackle. The opportunities are many and growing. Our list just curates some interesting options that are suitable for changemakers in Nigeria. Here’s our selection:
Fair Trade Venture
People who grow food at the subsistence level or work at producing in underdeveloped regions are often not adequately remunerated for their produce or work. Fair trade businesses try to remedy this problem by enabling better pay, working conditions and welfare to their low-income trade partners or workers. In many cases, this is achieved by avoiding middlemen and dealing directly with farmers. Fair trade products can be promoted by such, and are purchased by ethically conscious people.Digital Channel for Reporting Abuse
The infringement of individual rights is something that social enterprises can help to tackle. One way to do this might be to build a communication channel—perhaps utilising an app –which abuse victims can use to contact human rights NGOs, lawyers, or even appropriate authorities for help. The app would have the contact information of these parties and allow users to discreetly get in touch with them.Humanitarian Fashion
This is simply fashion geared towards humanitarian causes. For example, a fashion outfit could be primarily focused on producing clothing for use as humanitarian aid. Or much of the profit from this sort of business may be channelled to initiatives aimed at improving the lives of people in poor, marginalised communities.Sign up for the Connect Nigeria daily newsletter
Sustainable Fashion
Here, the concern is with fashion that produces wear in ways that are eco-friendly, ethical, and reduce waste. Often, this involves making clothing from biodegradable material (e.g. organic cotton), designing garments for durability, reducing water consumption in the manufacturing process, and supporting local fashion artisans.Peer-to-Peer Lending for Underserved Communities
Entrepreneurs can create a peer-to-peer lending platform, which allows people with money to spare to lend to people in underserved communities. The loan recipients need to be vetted, and this may be challenging in instances where there’s no formal credit history to evaluate. However, community engagement and operating the cooperative model may reduce the risks associated with this type of organisation.Skills Development Agency
There’s a severe skills shortage in many industries in Nigeria. This makes it difficult for millions of Nigerians to get employed or start a business that can thrive. You can build a business around solving this problem. The social enterprise angle to this venture could be offering training to underprivileged people and having large companies foot the costs via scholarships (i.e. pay your agency to teach people), as a CSR project.Renewable Energy Social Enterprise
A renewable energy social enterprise could sell and install renewable energy solutions (especially solar) as its primary revenue-generating operation. It might also train and recruit young people in indigent communities, allowing them to build competence and earn a living with their skills.Register to attend the CN Business Mixer
Final Words
This has been our selection of social enterprise business ideas that Nigerians can explore. If you are committed to making a difference through entrepreneurship, you may take a closer look at the opportunities we’ve laid out here and see if anyone appeals to you.Got a suggestion? Contact us: editor@connectnigeria.com
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