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Lucrative businesses you can start with no or little capital in Nigeria

Lucrative businesses you can start with no or little capital in Nigeria

Business in Nigeria just as in every other part of the world is a good way for wealth creation and financial stability for business owners and enthusiast. Developed nations of the World Bank on its business sector to keep it alive, floating as it contributes immensely to the economic growth of the country under this category: same applies to Developing countries of the world as they bank on their respective business sector to help them grow their GDP.

The importance of businesses in the world cannot be over-emphasized as there are various amazing business idea that can be effectively engaged  to make money, especially in a realities where there is a high rate of unemployment and government of nations are advocating entrepreneurial engagements as a viable way of bridging the huge gap created by  unemployment in societies. It is no different in Nigeria as the Federal government of Nigeria through its various initiative and economic policies encouraging youths in the country to take more of business roles. The Nigerian business set-up is a huge one which houses so many diverse business outfits which has been playing a huge role in the sustenance of the nation’s economy. There is thousands of business outfits registered with the Corporate Affairs Commission in Nigeria.

However for the young business starter in Nigeria or individuals who are thinking of tapping into the immense wealth that comes along with doing business in Nigeria, there are always various challenges that comes their way in their bid to starting their own business out. Starting a business outfit can be quite a challenging one in Nigeria as there are various factors which must be considered before you can successfully start your own business. Among these numerous factors to be considered in starting a business in Nigeria is the challenge of sourcing for capital.

Within the Nigerian business world, there are diverse businesses which young individuals can venture into that requires little or no capital, which is for some businesses in Nigeria all you need is the knowledge, the application and the experience you do not need much capital in setting them up. While there are other businesses in Nigeria that only requires a very minimal amount of capital to start. These business falls mostly into the small and medium scale businesses in Nigeria and they can be a very good escape for many from joblessness to becoming financially buoyant and stable.

Listed below are examples of some of these businesses which you can start with little no capital in Nigeria

  1. Consultancy Services – this is among one of the most easiest business and capital free business to run in Nigeria, as all you need to possess is a good knowledge in some certain fields, it might be legal, marriage, sports, media etc. all you need do is seek client who needs help your chosen field, advise them or put them through on how to go about whatever challenge that the client is seeking. All you need to have for this business is to get a good mobile phone, functioning email address and good inter-persona and communication skills.
  2. Blogging – this is a common business among students in Nigeria, this is where you create for yourself an online platform where you can engage people by offering certain services, there are plenty news blogs in Nigeria, Health Blogs , Sports blogs among many other blogs. You can either use the word press or blogger to create for yourself a functioning blog site, get any of the pre-designed templates to design your blogs. With a small amount of money you can secure the services of a professional or an expert to help give your BlogSpot a professional outlook. There are many ways to make money blogging, and some of them are Ad Sense, online advertisements, promotions etc.
  3. Laundry – This is a very common business in Nigeria today; however what sets people doing this business apart in Nigeria from each other is the expertise and professional outlook offered by each laundry business. There are lots of people who have no chance to do their personal laundry themselves either because of work or because of other personal engagements or comfort sake. Starting this line of works requires no capital, all you need do is put the words out to the public that you are into this line of work, and with referrals you can get more clients who needs your services. Although in creating your own brand which is important for all business owners to do, get a business card which can be easily shared by people from one place to another to increase your business visibility.
  4. Day Care Service – here all you need is to get a decent and hygienic space to put the kids brought into your care. There is little or no cost attached to the starting of day care service center in Nigeria, all you need to earn is the trust of the parents brings their child’s into our care.
  5. Music Lessons – these for those who are gifted and very talented in music, probably you can play one or two musical instruments and you have a good knowledge of what a good music sounds like, you can start teaching out little kids the art of learning music or the art of learning how to play musical instruments. There are many people now who are making a living from teaching others how to play any of the musical instruments.
  6. Computer Training – if you have the basic knowledge about how to operate a computer, making money off it is no herculean task. There are many parents who are looking for computer tutors for their children; you can run summer lessons for kids who are at home for the holidays on simple computer skills. There are many people in Nigeria with no idea about how to handle or operate the computer, you can leverage on this gap and start a business which overtime can be expanded to accommodate other computer related businesses.
  7. Interior Décor – here all you need is the knowledge, once you have the knowledge, you can start marketing your trade to building contractors, or people who are just about purchasing new homes. You can also work with Realtors that is people doing real estate business are they are constantly in contact with new home buyers.
  8. Football Viewing Center – this is a business that gives it owners stable money inflow as there are plenty football lovers in Nigeria. Every weekend provides you the opportunity to making cool cash. All you need get is a good television set, a large space and a good DSTV dish.
  9. Proofreading – there are lots of publishing houses, individual publishers that are looking for who to help them proofread their works. There are also different online platforms like up works, fiverr and many others where you can get people looking for your services online.
  10. Real Estate – this business requires no capital to start as you can become a realtor by just registering with real estate business outfits and help them market their buildings. Also you can be a local realtor by helping people search for houses, especially students, new people who are looking for accommodation in new areas.
  11. Car Wash Business – this business involves the washing of people’s car in exchange for money. Starting this line of business is quite easy as all you need to do is to secure a good location with a good source of water which is not hidden where you can easily get better patronage.
  12. Barbing Saloon – there are thousands of barbing saloon in Nigeria, all you need if you have the skills is getting a good shop and a clipper. In this line of business, it is quite lucrative as you get to make money daily.
  13. Cake Production – knowing how to bake cakes is all you need in setting up a cake production business in Nigeria. There is a large demand for cake in Nigeria; there are birthday parties, wedding parties, anniversaries celebrations and many other celebrations that require cakes.
  14. Photography – this is another lucrative business in Nigeria which young individuals can easily go into and make for themselves cool cash. All you need to do is to have a good knowledge about to take good pictures, edit them and print them. Doing these things are quite easier these days as there are many software that you can download on your computer that will make it easy for you to edit and prepare good pictures for your clients.
  15. Hair Saloon – there is a huge demand for hair stylist in Nigeria; this is not a gender based business as there are men who now engage in the business.
  16. Bead making – this is another business that is currently booming in Nigeria as beads are now a trendy fashion statement in the fashion industry today.
  17. Snail Farming – snail farming is growing to be a very popular business in Nigeria today as there are a lot of restaurants who are demanding for snails in their various restaurants. You can start making good income in snail farming in Nigeria as the risk involved is a very low one which makes it easy for people to delve into without having to think twice.
  18. Popcorn Business – there is a high demand for popcorn in Nigeria as most people prefer them these days as their snacks. They are in high demands in occasions, party, ceremonies etc. this is a very cheap business you should consider doing in Nigeria.
  19. Fruits – selling of fruits is a very lucrative business in Nigeria, as there are many people who are on a fruit diet. This involves the selling of fruits like oranges, carrots, pineapples, cucumbers, watermelon, bananas, grapes etc.
  20. Phone Repairs – there are millions of phones in Nigeria today, and just like every other gadgets they spoil or develop a fault at some period, becoming a phone repairer is very profitable as you get to repair spoilt or faulty phones. You can also add other side business to it’s you can sell phone case, recharge cards, screen protectors etc.

 

 

By Marcus Amudipe

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