Yes, Nigeria is worth a try!
Are you in search of a sure way to grow your business be it in manufacturing or service oriented, it is better you beam your searchlight on other communities or countries where the demand is very high. In this instance why not look into the services export which remains untapped in Nigeria.
The common definition for service export is the sale and delivery of an intangible product like a service between the producer and the consumer. This relates to an interaction between producers and consumers that are located in different countries while the interactive process is called international trade in services.
The services, although invisible, are geared towards playing a very important role to make easy all aspects of economic development, infrastructural processes like transportation, communication and of course, financial services as well as the support for any kind of business to grow. In this regard as well, educational, health and recreational efforts promote the quality of labor available to business establishments. In this vein as well, professional services are meant to induce specialized expertise that engenders companies’ competitiveness in the market.
A service exporter, to be successful, should possess a niche offering in terms of something that differentiates the individual or firm from others in the industry. Since services cannot be inspected before purchase like a common commodity, clients depend on referrals and endorsements when selecting their service providers therefore a key to successful services export creates credibility in both the local and global markets.
Services firms can gain global credibility by joining international professional associations or through listing in international directories. As an insight on the available opportunities in services export for Nigerians, according to Mr. Femi Boyede, the International Trade Centre Consultant on Services and International Trade Strategy, told the Punch about three weeks ago that one should look well into the Information and Communications Technology, travels and tourism, transport and recreational services among others.
“Under the general agreement on trade and services, he says, services are divided into the following broad sectors: business services (including professional services, information technology related services, research and development, communication services, construction and related engineering services, distribution, education, (banking and insurance, security, health, social services, travel and tourism, recreational, cultural and sporting as well as transport services.