In the first chapter of this booklet, we put forward two approaches on how to weather a stormy economic environment whenever and wherever practicable, thus reducing expenditure. This first approach, you will recall, is the subject matter of chapter two.

Introduction

The second one focuses on various legitimate ways of finding extra cash to augment one’s regular income, which is what chapter three is about. The chapter is concerned, so to speak, with spare-time jobs, which means being in a second employment.

After being convinced of the need to work harder or engage in supplementary economic activities as a way of realistically facing the hard times, you have to start with some preliminaries.

Focus 1

One, it is advisable that you sit down calmly and think about possible new opportunities and ideas; then, determine what you can do best and enjoy doing.

The second preliminary consideration is seeking the advice of other people who are in a position to give necessary guidance.

These are likely to be experienced or elderly people, as well as those with some specialised knowledge and exposure.

Before we go on to discuss what, in concrete terms, could be embarked on, it is necessary to emphasise here again that spare-time jobs should be spare-time jobs.

Focus 2

The idea of sacrificing part of one’s leisure time for productive activities is what should be imbibed for a part-time extrinsic job.

It is important, therefore, to have a clear idea of the number of leisure hours one can conveniently afford in a day or week or during weekends and vacations.

The subject matter of this chapter is divided into four major areas. The first section deals with part-time professional and technical job opportunities.

The second focuses attention on small enterprises, the third on the development of occupational skills, and the fourth on the do-it-yourself idea. Of course, there is an adjunct to these sections designed to guide the unemployed.

Part-Time Work

Working part-time within the framework of this discussion means doing what a person is professionally qualified to do outside the normal, regular or official hours to earn additional income.

As an illustration, a qualified teacher who is determined to beat inflation may organise private evening classes.

Teachers, especially in urban centres like Lagos, Kano and Port-Harcou, rt are known to have practised this for a long time.

Focus 1

All a determined teacher needs to do is collect school pupils within the neighbourhood the consent of their parents, anyway, and give them appropriate school lessons for one or two hours per day.

If a child can pay N a month for this service, and you have enough space for ten children, you are richer by N10 x at the end of the month. We emphasised space here, as it may constitute a constraint to many willing teachers.

Nevertheless, there are instances where spaces such as verandahs, open shades, well-ventilated car garages and even living rooms have successfully been used for this purpose.

Focus 2

Other variants of daily evening lessons are weekend classes and vacation courses. Weekend classes may be arranged for Saturdays full-day Saturday, while vacation courses may be designed to cater for special groups.

It is similar to those preparing for the West African School Certificate Examination, General Certificate of Education or the Joint Matriculation Examination.

In these cases, arrangements may be made with heads in the locality to enable you to make use of some school rooms.

Focus 3

Likewise, teachers in universities, polytechnics and colleges of education may also avail themselves of the opportunity to put in extra part-time lectures to curb the effects of inflation.

A teacher may look for such opportunities in institutions other than the one where he normally works.

In many institutions of higher learning, certain courses sometimes suffer from a lack of specialists to teach them.

Authorities of such institutions usually nose around to see if there are teachers who are able and willing to teach the courses even on a part-time basis.

In a period of economic crisis, teachers should quickly take advantage of this situation, even though it may mean some sacrifice in terms of part of their leisure time lost.

Focus 4

The journalists and broadcasters, as further examples, are also in a position to earn extra cash through part-time activities.

Apart from the possibility of teaching courses in Mass Communication where there is an institution around that offers the courses, this category of workers could engage in freelance writing for other media houses.

It is also possible, with some determination, to set up modest private production centres and sell programs to some public media houses that might need them.

The typist, like the teacher or journalist, may utilise her professional skills outside the employer’s normal schedule of work to earn some extra income.

Focus 5

An enterprising typist is likely to provide great financial relief to his or her family by establishing a private typing institute.

This does not require him to have capital outlay, and whatever capital investment may be involved is quickly returned with profits realised in the process.

Prospective candidates for external typing examinations will be happy to enrol in these private institutes. They will normally do one or two hours of practice per day and will be willing to pay for the lessons received.

Focus 6

Driving as a profession may also be given as an example of how to adjust to part-time activities. If a driver is employed in the public sector, he normally closes for the day by 3.30 p.m. when there are no overtime duties.

Part of the leisure time commencing from 4.30 p.m. or so could be used profitably. The weekends when there are no touring schedules may also be utilised.

What can the driver not do in his leisure time to earn something over and above his salary?

One, he can draw on his savings to buy a used car, which can be operated commercially for some two or three hours a day and longer on Saturdays.

Focus 7

Several drivers may pool resources together and procure one such car for the same purpose. Two, the driver who is unable to own his private commercial vehicle can arrange with regular taxi drivers to offer a helping hand for a few hours daily, for which he is monetarily rewarded.

There is hardly any category of workers that is not open to the possibility of part-time practice, even though the ethics of some professions are strictly against this.

Nevertheless, civil servants are known to have engaged in teaching courses in educational institutions on their part. Arranged their annual leave to enable them to participate in paper marking. All these are ingenious and realistic ways official duties.

Focus 8

Of course, there is a whole gamut of opportunities for self-improvement about a person’s present position on a part-time basis.

To cite just one example, a messenger in an office who is so positively inclined can learn how to type.

He or she may pass the required relevant examinations and thereby upgrade himself or herself over time to the post of a Typist, a Secretary and indeed a Director.

The person may have raised his or her earning capacity several times over through part-time self-improvement practices.

Small Enterprises

If a person does not have any special skills to sell on a part-time basis as discussed above, it is possible to go in for small business enterprises.

It is assumed that this does not require any sophisticated skills, except that one needs to learn and understand the elementary principles of commerce. Other requirements, of course, are drive and a good sense of judgment.

Focus 1

A small business set-up does not require any huge investment. The objective of organising is to serve as an alternative source of expected profit.

Incidentally, it would appear that trading people do not necessarily have to go through special training courses to be able to buy and sell for profits; most of them have seen this done all their lives.

One of the business areas that one may explore on a modest scale is the provision shop. Provisions are a part of the indispensable items of the family’s expenditure.

Focus 2

It is also one of the low-order goods one expects to get within reach as and when needed. Therefore, they are usually obtained at corner shops.

You may start by making a casual feasibility study of the neighbourhood where you live to see how adequate the existing corner shops around are in serving the area.

If you are convinced that there are none around or that those available are not appropriate, you can confidently set up one to meet the neighbourhood demand.

The shop, having been established, opens for a few hours daily after the regular working hours. There can be extended operating periods on weekends and during vacations.

Focus 3

It may be worthwhile to note that those living on the outskirts of cities would appear to have better opportunities of setting up provision shops.

The outskirts are usually fast-expanding areas without corresponding development of infrastructure and services in this part of the world.

Such opportunities should immediately be seized by buying goods wholesale in the city centre and retailing the goods at a profit in the suburbs.

One may wish to note further that those who live in the countryside are also advantageously placed to retail provisions.

Focus 4

An enterprising rural dweller, having assessed the needs of people around, may travel to the city and bulk purchase various provisions.

He or she will later sell in the countryside at relatively high retail prices, thereby making some profits in between.

A closely related venture which can also yield good returns is dealing in foodstuffs such as yam flour, eggs, rice or beans. The important thing about this type of business is the ability to identify sources of supply of these goods.

Foodstuffs are much cheaper in the rural periodic markets, and if one can get familiar with the dates of these markets, one is likely to make good bargains. Good deals can also be made by city dwellers who happen to come from rural areas.

Focus 5

They are to use their rural connections to procure foodstuffs at low prices and sell them in the city at higher prices.

A good number of public employees are already in this business of supplying city people with foodstuffs obtained in the rural markets. Yet, they make sure that their normal official duties do not suffer in the process.

What has been said about foodstuffs can also be applied proportions of Nigerians who are already in this lucrative simply hop around to see where they can buy some crates of drinks at controlled prices and then sell profitably elsewhere.

This shows clearly that one does not need to be a distributor to be able to engage in the trade on a leisure-time basis.

Focus 6

It is possible to start modestly by keeping a crate of soft drinks or cartons of beer at a time in one’s domestic refrigerator and selling the cold drinks to co-tenants.

Later on, people from nearby homes and beyond may get to patronise you; you may therefore be encouraged to increase the level of business activity and thereby widen the margin of profit.

One other area that can profitably be explored is the patent medicine business. If your wife does not belong to the working class and has all the years been engaged only in domestic chores, this is a suitable business for her.

Focus 7

However, this does not imply that only women can go into the business. Men can as well. Licenses are granted on application and after having satisfied certain conditions.

(Enquiries about the process of obtaining patent medicine licenses can be directed to a State Ministry of Health.)

Yet another business opportunity which requires modest investment and little skill is that of pepper grinding. Grinding machines are not expensive and can be operated even by old people.

A salary earner who is concerned about surviving the lean years ahead may think of buying one of such machines.

Focus 8

It will be fun for the housemaid to operate it, and a regular income of some naira a day, derivable from the machine, will go a long way in insulating the family from financial embarrassment.

Having suggested various business opportunities open to families and individuals, the question naturally arises as to what can be done to raise money to start any of the businesses. Your little savings constitute the first option that may be thought of.

Savings can be accumulated in various ways. One may embark on compulsory bank savings every month, and commercial banks will be prepared to extend their loan facilities to you if you are a reliable and consistent customer.

Conclusion

Apart from bank loans, one may save up with cooperative societies. These societies have liberal loan facilities too. Most cooperatives will lend you double the amount you have saved with them within a given period.

There is hardly a limit to the number of things that can be done, and done profitably too, in a harsh economic climate.

By the same token, there is hardly a limit to the number of ways and means by which money can be raised for the ventures. All one needs is a little bit of ingenuity and the determination to survive. You can read more related posts on our affiliate page of the site.