Uyo is one of the top business destinations in Nigeria. This is because of its peaceful nature, the abundant natural and human resources, and the public infrastructure put in place. In this post, we’ll be looking at the best and most profitable businesses to start in Uyo.
These businesses would give you the right profit and survive on the long run. They have less probability of folding up. Now, let’s take a look at these businesses.
5 Best and Most Profitable Businesses to Start in Uyo
1. Logistics and Transportation
The city of Uyo is witnessing good expansion and growth, and there are countless people moving to Uyo every year. There are also businesses moving to Uyo every year, and so, it is a fertile ground for the establishment of logistics and transportation company. You can set up a firm that transports both humans and goods.
To make you see how profitable this sector will be in the future, BUA refinery is nearing completion in the state, and the seaport here is also nearing completion. Setting it up early means you get a good amount of the market share in this city and Akwa Ibom State as a whole.
2. Fish and Marine Life
This is also another booming sector you should invest in Uyo. Anything connected to fresh water and aquatic ecosystem is very cheap in Uyo and surrounding. You can set up a business here to be sourcing these animals and things to be sending to locations outside the state. If you have a lot of customers outside the state, you are sure to make good amount of money.
You can invest in this sector as a large scale fisher, supplier, retailer, and distributor. However, it is more profitable to set up this business as a supplier and distributor to other cities and locations in Nigeria.
3. Club and Bar
The aspect of this city and state that is growing very well is night life and leisure sector. The residents of this city love to go out to clubs and bars to unwind themselves after a long stressful day. You can set up this business in a good location, and you’ll be sure that it will move. Uyo is fertile for this business to thrive.
4. Fashion
Getting into the fashion sector in terms of making of clothes, shoes, and bags, or selling of these, is a good business decision to undertake in Uyo. Uyo residents love to look good, so you’ll definitely make a kill. The profit in this business in this city is amazing as you can easily buy your material from Aba.
5. Hotels
Hotel is another growing industry in this city. The hotels seems much but they aren’t enough really. You can always make profit when you build yours. You just have to make yours sustainable as you build it in a good location and with the right pricing. When it is done right, then it is good to go.
Conclusion
This post has looked at the subject of 5 best and most profitable businesses to start in Uyo. You can make your own research as you set out to start a business in this city. You should note that this list was made without putting any budget into consideration.