Small Business Ideas Requiring Less Than 50,000 Naira To Start
Here is a post that tells you businesses you can start with less than 50,000 naira if you are among the Nigerian youths that are complaining that to start a business someone needs to have at least 100,000 naira.
After doing some research with me and my team, we came to discover that there are lots of businesses one can start with less than 100,000 naira even less than 50,000 naira. People don’t know about these businesses because they have not taken their time to do research on businesses they can start with less money.
If you are an aspiring entrepreneur who will like to start a business in Nigeria but you have less than 50,000 naira, here are 10 businesses you can start with less than 50,000 naira and grow it into a 6 figure business for you.
But, here is a word of caution. You must conduct your own research on any business that catches your interest. Don’t just jump into any business listed below because you have read this post. We only brought you summary, your job is to go conduct your own research and see if the business will be suitable in your location.
You can start your own poultry business at the back of your house with as little as 35,000 naira. Yes, it is that easy. You don’t need to rent a big location, you can start with 10 chickens which only cost 700 naira at the time of writing this post.
You can get a medium cage construction by a carpenter for 10,000 naira and then you can buy 10,000 naira worth of their feed, and voila! Your business has started.
After 6 months, your birds are ready to be sold. Poultry business provides you more than one stream of income. You can make from the sales of eggs, meat and manure.
To succeed in this business, it entails keeping buying a healthy breed of birds, keeping the poultry clean and feed them with the right feed.
- Sales of Bottled Drinks/Bottled Water
You can start the sales of bottled drinks if you can find a good location in a busy street. This business can be started with as low as 40,000 naira. This business is lucrative as what you will be selling is a daily consumable items with high demands.
What you need to buy is just a big cooler, an umbrella, packs of drinks, a small store you will have to rent (you can pay for 3 months for a start), and a sign board where you will write “Buy cold drinks and water here”.
You can even add additional services like the sale of recharge card to bring people to your store to know what other things you sell.
This is one business you can start with less than 20,000 naira (domain registration, hosting and blog customization). Starting a blog is relatively easy. If you have love in sharing your thought through writing, you can start a blog and become very rich.
All you just need is to pick a niche, create contents around it, publish it on your blog, drive traffic to your blog and before you know it, you have started building huge audiences and social following.
There are so many ways to make money from blogging which includes:
- Sales of products/services.
- Affiliate marketing.
- Running of adverts on your blog via Google Adsense or Media.net
- Starting a paid membership site.
- Offering paid coaching/counselling services.
- Sponsored post
- Writing reviews etc.
There are 101 ways to make money from blogging, you just have to pick the ones that work well with you.
- Pop Corn Production Business
This is one of other businesses you can start with less than 50,000 naira in Nigeria. Starting a popcorn business does not require you must have a shop. What you just need is a popcorn machine which the local one goes for less than 25,000 as the time of writing this post, corn, sugar, flavor nylon, umbrella, butter, groundnut oil and you are good to go.
To succeed in this business, you must pick a busy location. Preferably, one close to either a football viewing center, school, restaurants, or church.
- Website Designing
This is another business you can start with less than 50,000 naira and become a boss of your own. The demand for this business is rapidly growing not just in Nigeria but around the world.
All you need is to have a deep knowledge about HTML, CSS, JAVA+ and other coding programs. You only need to go to a computer school to learn it which can be done with 30,000 naira.
When you acquire the skill, you become the boss of yourself. To make money as a web designer, you must be good at marketing yourself online and you have to work for either free at low fee so you can build up a portfolio you can then use to attract high paying clients.
You can charge as high as 100,000 to build a client’s website. You even charge more than depending on the project.
The tutoring business is an ever demanding business. What skill do you have that can be taught? What knowledge have you gather that you can teach someone or a group of people and get paid for?
If you are very good at playing any musical instrument, you can host a general or private class where you get paid to teach people that want to learn a particular kind of instrument. Are you a teacher? You can start home lesson in your community and make good money.
I know so many people in the tutoring business and they are doing it full-time and are doing well financially.
You can start up the business of selling fairly used clothes with any amount that you have. But, it is a business that you can start with less than 50,000. The business can be started by any sex. But, it is mostly popular with the female as they are the people that patronize the business very well.
It is advisable you start small, focus on quality, charge reasonable prices and build your customer base. The key is to keep your customers happy.
This is also a flourishing business that any serious entrepreneur can venture into and earn enough money within their first year of starting the business. You can start this business from your home (make sure you have access to water and constant electric supply or a generator).
You can use your hand for washing or buy a mini laundry machine for 30,000 naira, get detergent, a good pressing table and irons. It is a low risk business that anyone can start and earn money from it.
- Sales of Phones and Phone Accessories
Whether you like it or not, people buy phones every day. You can make good money from the sales of phones. You just need to get a place where you can be buying phones and it accessories at cheaper price, put the phones on show glass, find a good location and you are in already.
It is a profitable and monitoring business as you don’t need too much calculation to know how much you have made since you know how many phones are on sale.
You can even start with the sale of UK Used phones as people that cannot afford new ones can go for UK Used.
This is one of the best businesses you can start with less than 50,000 naira. You just need to understand the business and you can take it up from there by yourself. With less than 50,000 naira, you can get a drum, buy fingerlings and buy feeds.
The drum should be position close to a source of water and close to where you can also dispose water too. Fish farming is one of the business you can start in the backyard and grow from there.
Business ideas for less than 50000 – Summary
what business can i do with 50000 naira? Though they need other sources of income to complement whatever they make monthly, many people still find it difficult to start a business of their own. Sometimes, it is not a matter of indecision or lack of business ideas but the huge capital requirements needed to successfully start and run such businesses.
This challenge faced by many prospective entrepreneurs motivated me to compile a list of feasible small businesses you can start with 50,000 Naira or even less.
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In this post, I have listed some low cost businesses ideas that may not require a start up capital of more than 50,000.
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