Entrepreneurship in the Health sector

People think of entrepreneurship as something hard, something only those who have a degree in Business Administration or Marketing can do. Hang on, you are not alone in this thought. I used to think the same too, but that was until I realized I needed another source of income – multiple in fact – if I knew I wanted to keep my head above water.
If you are in Nigeria, I’m sure you can relate to this too. But this isn’t just applicable to Nigeria alone. In other countries too, the predicted global economic slowdown has become a cause for concern. The poor are getting poorer, and if the rich are getting richer, it is just because they have multiple streams of income. But it is safe to say that everyone can feel the effects of the bad economy.
If this is the case, why should you consider entrepreneurship in the Health sector? For several reasons. They are lucrative. They are fulfilling, especially if you are passionate about health. They are not as demanding as venturing into entrepreneurship in other sectors. You do not have to own a physical shop for some of the ventures in the Health sector. And lastly, you do not have to have a degree in Health-related courses or a degree in Business Management in order to venture into them.
Since we’ve explored the motives and incentives associated with entrepreneurship in the health sector, let’s quickly look through a list of simple business ventures that one can easily start up in the health sector.

DISPENSARY/PHARMACY CENTRES – This type of business venture is most prevalent in emerging countries (Nigeria, South Africa, Ghana etcetera) where primary healthcare is not easily accessible. An average citizen can afford to start this up if he/she has a little money saved up. Simply determine your proposed location for the business, your target market and then employ a seasoned healthcare worker with a degree in health services to man your dispensary centre. Ensure you check with your State on the requirements to be met in order to open a drug dispensary centre.

ALTERNATIVE HEALTHCARE – This is popularly known as Acupuncture. It is even more popular for treatment and setting of dislocated bones, joints and muscles than the normal primary healthcare services rendered worldwide. If you’ve always had a flair for setting dislocated bones, then this business idea is for you. The good news is that this type of healthcare services usually do not require a degree in Health, just raw talent. But be sure to check with your State on what is required of you before you can fully practice.

MEDICAL SUPPLY SERVICES – Sales of medical supplies is another lucrative business one can do in the health sector. Equipment and supplies that can be sold include but are not limited to: braces, wheelchairs, bedpans, hearing aids, prosthetic arms and legs. This business does not necessarily require a physical shop as you can utilize the various e-media tools to sell your supplies.

HEALTH-FOCUSED WEBSITES – We are in an era of digital technology, where valuable information can be shared at the snap of a finger. Consider starting a website that gives out Health-related information and advice if you are into healthcare, or have easy access to healthcare experts.

FASHION HOUSES FOR MEDICAL PROFESSIONALS – If you are into fashion, this can be you. The healthcare profession always require periodic change of work gears. From sewing stylish scrubs to outfitting doctors, nurses and other health workers, the potentials of this business idea is too great to enumerate. The good news is that you do not have to be a fashion designer to venture into this. You can serve as a middleman by contracting fashion designers to sew for you while you distribute to health professionals.

LAUNDROMAT FOR HEALTH PROFESSIONALS – I have a friend who ventured into this as a student and found it so lucrative that he opened several branches and employed more people after school. Simply target a few hospitals and distribute your flier, find a balance by coming in a few times in a day to pick up dirty scrubs and lab coats, then return after washing and ironing on agreed days and time. Someone who desires to do this can take a step further by offering home-cleaning services to healthcare professionals. It will amaze you the number of people willing to sign up for this.

HEALTHCARE APP – Everyone wants an easy life. Healthcare professionals are not exempted. App developers can capitalize on this to develop healthcare apps that can track, record and manage medical conditions and information.
Healthcare business ventures are a great way to enter into entrepreneurship. You do not necessarily have to quit your job in order to venture into them. And they are so easy that you can tweak these ideas and more to find out what suits you. Ensure that you check with your State to find out the requirements for venturing into a few of the options. Asides that, you are in for a rollercoaster ride. Enjoy that.

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Jane Egerton-Idehen

Jane Egerton-Idehen is a telecommunication executive with over 13 years’ experience in the Nigerian, Liberian and Ghanaian telecommunications markets. Jane has a strong passion for promoting girls in STEM and ensuring women in STEM industries remain and grow their careers in that industry. She curates her thoughts around her career journey, experiences and passion in life.