Making Dollars? Now is the right time
NaijaRock
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Posted by Felix Okoli on March 17, 2009 at 05:02:10:
If you live in Nigeria and currently feeling the effects of the falling naira, there has never been any better time than now to divest your funds and start making dollars if you can. Involving in business activities that can bring in dollars for you now is the right thing to do. With the increasing depreciation of capital items like the stock market and increasing prices of manufacturing in Nigeria and with the emerging protectionist US economy and rising dollars, it would do you good if you find a way to start making dollars for you goods or services.
One of the activities i would suggest is improving on your IT skills and make dollars online. One wonders why most IT firms ins silicon valley are making a profit when other firms in real estate and autos are having a bad day. Companies alike Google are not announcing any losses soon and IT seems to be the way to go. I would have suggested exporting agricultural products but with the Federal govt even unable to make much profit from crude oil exports and the expected fall in pricing of agric products in the US or UK due to recession, i doubt if one would find any hungry market for his goods there.
Having a website to display your goods and making it e-commerce compliant would really help boost your business. Online stores like Amazon still had a lot of sales as at last Christmas and were not really affected by the recession. People try to be more conservative in situations like those and would prefer to shop online than visit stores directly to buy items because it would be cheaper somehow considering overall costs and the wide variety of options. Add a little bit of I.T. in your business and you will survive the new world. Having a web hosting company, blogging, creating information products on how to's can also be a good source of earning dollars online.
Comments:
If you live in Nigeria and currently feeling the effects of the falling naira, there has never been any better time than now to divest your funds and start making dollars if you can. Involving in business activities that can bring in dollars for you now is the right thing to do. With the increasing depreciation of capital items like the stock market and increasing prices of manufacturing in Nigeria and with the emerging protectionist US economy and rising dollars, it would do you good if you find a way to start making dollars for you goods or services.
One of the activities i would suggest is improving on your IT skills and make dollars online. One wonders why most IT firms ins silicon valley are making a profit when other firms in real estate and autos are having a bad day. Companies alike Google are not announcing any losses soon and IT seems to be the way to go. I would have suggested exporting agricultural products but with the Federal govt even unable to make much profit from crude oil exports and the expected fall in pricing of agric products in the US or UK due to recession, i doubt if one would find any hungry market for his goods there.
Having a website to display your goods and making it e-commerce compliant would really help boost your business. Online stores like Amazon still had a lot of sales as at last Christmas and were not really affected by the recession. People try to be more conservative in situations like those and would prefer to shop online than visit stores directly to buy items because it would be cheaper somehow considering overall costs and the wide variety of options. Add a little bit of I.T. in your business and you will survive the new world. Having a web hosting company, blogging, creating information products on how to's can also be a good source of earning dollars online.
Comments: