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What are cottage industries: Here are the lucrative ones – Here are list of the most lucrative cottage businesses in Nigeria. We have here all it requires to set up one.

Here are cottage industry examples with examples of cottage industry characteristics and products.

Cottage industry expert tips:

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What are cottage industries: Here are the lucrative ones

Cottage industry defined:

Cottage industries are small manufacturing units producing goods and services using conventional and low-technologies. Therefore, are Cotton weaving, silk weaving, carpet making, leather industry, metal handicrafts, and small food processing businesses. The types, purpose and benefits are discussed on this post.

The purpose of cottage industries:

Furthermore, on What are cottage industries: Here are the lucrative ones, it’s good to know that cottage industries are prominent in the rural and suburban areas. In fact, they also contribute a lot to an economy. Here are the summaries of what it does to the society and economy.

  1. Generation of many employment opportunities in rural and sub-urban areas.
  2. It helps sustain price stability of their goods.
  3. Considering NO. 1 above is income generation and income redistribution effects.
  4. And considering No.2 above is the inflation curbing effects.
  5. Availability of consumable productions using traditional processes to manufacture consumable products.
  6. In addition to No. 1 above is unemployment and underemployment curbing effects.
  7. Finally, is a long economic theory on it’s effect on investments, savings and consumption functions as is found in the national income equation.

The lucrative cottage industries:

As has been defined above, cottage businesses are mostly rural locolized. Therefore the following businesses are associated with it.

  • Cotton weaving,
  • silk weaving,
  • carpet making,
  • leather industry,
  • metal handicrafts,
  • small food processing businesses – rice mills etc.
  • Wood works
  • Welding and fabrication

What are cottage industries: Here are the lucrative ones

Getting ready to set up one:

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What are cottage industries

What are cottage industries: Here are the lucrative ones

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