10 Business Ideas You Can Start With Less Than N10,000 In Nigeria
We all know that starting a small business in Nigeria has never been easy considering what one has to go through to raise business capital to set up and run a profitable business. Truthfully, everything has to do with money. No Bank in Nigeria is willing to help small scale businesses. What of the Government? They seem to have no plan whatsoever for serious citizens who needs business start-up capital.
This is what 70% of Nigerian entrepreneurs experience on a daily basis. They have nice business ideas. These ideas are so bright that they only want to get it started and watch the money begin rolling in. Then, abruptly, they see the idea die because no money to kick starts the business.
Also, many employees are tired of the kind of jobs they have (particularly when it comes to the amount paid as salary) and while at this job, many want start something along at the same time. Yes, many just want to explore some business opportunities while they are still in paid employment.
Below are some of the most profitable small businesses to start in Nigeria which any prospective investor can start with less than N10,000 and make substantial profit in it. You can also run some of them alongside your current employment.
1. Selling Used Books: You might be seeing those that do things by the roadsides and might wonder if the sellers are making money from it. Well, you can try it and be surprised at the profit margin, and you will be amazed at the rate at which Nigerians buy different books. Often times, used books are auctioned off at importers warehouses, look out for one of these warehouses and select nice used books (children books, educational books, arts and craft books, etc) as these categories of books sell very fast with high profit margin.
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2. Web designing: This is a classic example of a high demand niche. You only need to have the basic skills and should be able to work with PHP and MySQL. One will also be able to get many clients if one can design custom wordpress themes. The starting point is to create a blog for yourself to show what you can do. One may also need to join forums where one can easily market one’s skills to others.
3. Consultancy: Do you know something? I mean, anything? Do you know that many people don’t know what you know? Do you know that many people will gladly pay to know what they don’t know but which you know? You can be a source of advice or information on something, and charge people for it. Good news is that, you don’t have to wait till you get thousands of Naira to open an office before doing this. The internet is a good medium to sell your knowledge to those who need it.
4. Photography Business: If you have a passion for photography, find out the requirements to starting up a personal media business. Despite the fact that many people are now using smartphones to snap pics every now and then, the services of professional photographers are always needed.
5. Office Supply: Some people who works in some offices finds it difficult to go out to the market to buy certain things like Wrist Watches, Shirts, Ties, and Perfumes. A smart person can see a space needing to be filled. You can help them do the shopping and charge moderately. You don’t be greedy like other suppliers who buys fake things for N1000 and wants to sell for N10,000 to ‘office people’. (Note that regardless of their class, Nigerians value money)
If you are honest with your investment and offer affordable prices, your business may enjoy big contracts to supply in bulk to people you may come across in such offices.
6. Day Nursery: With both parents increasingly keen to return to work after having children, a day nursery is a big relief to parents who cannot let go of their jobs to stay at home nursing kids. You’ll have to maximize your social contacts and inform friends and colleagues about what you do. This can be done and definitely going to make some money from this if you manage it well. One can start with #10,000 or less only if you already have things like space (your home) to be used.
7. Software And Computer Repair: Many people don’t know how to solve basic computer issues such as fixing a system crash, how to remove malware from a computer, how to download videos from YouTube, how to install software, solving internet connectivity issues etc. Simply advertise your services on social networks, BBM, WhatsApp and to close friends.
8. Graphic Designing: If you can master how to use programs like Corel Draw and Photoshop to design good lovely things, you could begin using it to make money. Many individuals and cooperation have seen the need of having professional logos for their brands, and are ready to pay a professional for that.
9. Tutoring Services: This business requires little or no capital. The most important thing here is knowledge. Then, strive to ensure you brush up yourself more in the subjects you will be offering. Simply approach parents of students in your street or place of worship, talk to them, and give them reasons to hire you.
10. Web Hosting: This is indeed one of the easiest businesses to start right now. You might want to consider this. You know, the world is going online now. With little or no capital, you can carry out due research on the best reseller plans that reliable web hosting companies in your location offer. Come on, do more research on this, and see how it goes.
So, what are you waiting for? Get to work!!!!!!