What kinds of businesses can I start in Nigeria with low initial investment?
A great number of people have already come to the conclusion that starting their own business is the best way to address the issue of being unemployed and having nothing to occupy their time.
In spite of this, they are confronted with yet another challenge: CAPITAL! They work hard to overcome the obstacles by exploring various choices, such as borrowing money from banks and members of their own families.
But unfortunately! The banks are demanding ludicrous things, and members of the family have stated that they do not have any money.
As a result, the following is a list of eight company ideas that can be started in Nigeria without the need for significant initial capital. In point of fact, they can be distributed in a span of fewer than seven days.
The Following Is A List of 8 Small Businesses That Can Be Started in Nigeria With a Low Initial Investment.
1. Fixing Phone Problems and Installing Software:
Despite the fact that this business requires no start-up capital, it is one of the easiest businesses that a person with no prior expertise may start right now.
I’m already getting some naira notes into my accounts, just by helping people to root their android phones, set their mobile network connection settings, and also change the IMEI of android phones to blackberry so that Blackberry subscription will work on their devices. The primary reason why I added this is because I’m already getting some naira notes into my accounts.
Simply put, what I do is print out advertisements on paper cut to the size of an A4 sheet that discusses phone rooting and IMEI fiddling. After gaining a new client, the first thing I do is install all of the necessary apps on their devices, and then I use king root to gain administrative privileges. Rooting a phone costs a minimum of 500, and the whole service, which includes modifying as well as rooting, costs 1000.
2. Repairing Computers and Providing Software Installation Services
This business Should Never Be Undervalued When Discussing Great Business Ideas in Nigeria That Can Be Done With Little to No Capital Repairing computers and providing software installation services should never be underestimated.
We live in the age of computers, and Nigerians are becoming increasingly reliant on modern technology. Concerning personal computers, it would appear that for everyone that is produced, ten end up inoperable, and one hundred more require maintenance. One’s area of competence could be limited to software installation and normal maintenance services such as formatting, for example. One can even focus just on repairing and replacing components, as this is a fun and profitable business that can be started in Nigeria with very little initial investment.
You can acquire the knowledge pretty quickly, and depending on how quickly you can learn it, you may start offering computer repair services to other people in a very short amount of time. In point of fact, the internet even makes it possible to educate oneself independently. There are a great many videos pertaining to this topic that can be found on YouTube.
3. Home Lesson Tutor:
We are all aware, as Nigerians, that upcoming examinations such as JAMB, WAEC, GCE, and others are always just around the horizon. And you won’t believe this, but not a single student wants to fail!!!
Every one of us needs to know at least one or two high school students who reside in the neighborhood we call home or who go to the places of worship we frequent. It is as easy as determining the topics that one is qualified to instruct, communicating with the parents of the students, and making an offer to instruct their children for a certain number of hours on the weekends or after school, depending on when one is available.
Depending on the topic, the child’s age, and the location, one can charge up to 1,000 per hour for their services. The only things you need to do are get better at the topic (or subjects) in question, present yourself in a positive light (you can tell the parents about your own WAEC/JAMB score or university GPA), and recruit as many students as you possibly can. Believe me when I say that this concept is one hot small-scale business that requires little cash in Nigeria.
4. Importation Business:
You can generate money by instructing individuals how to purchase things online at incredibly low prices and resell them with a bigger profit margin in Nigeria.
You might charge a minimum of 2,000 per person, but this depends on what it is that you will be educating them. You may also take it to another level by assisting individuals in purchasing things online from China or the United Kingdom at a price that is more affordable than what is available in Nigeria.
It is now dependent on the commission that you add to the product or the amount that you earn for buying the items for them at a lesser price as to how much money you generate by utilizing this strategy. You are able to charge a fee of approximately 2000 per product.
5. Website/Blog Design:
This is an example of a business in Nigeria that can be run profitably with a low initial investment. Every hour, there are dozens of new websites and blogs made available on the internet, and the majority of them have an unprofessional appearance.
You can start designing websites and blogs for other people if you have a strong eye for colors and design, in addition to doing some research and practicing your skills.
The internet offers a wide variety of businesses that can be started in Nigeria with a small initial investment. All you gotta do is dig.
The good news is that you do not need to be a “guru” in coding in order to begin pursuing this opportunity to make more money for yourself.
There are a number of pre-made platforms for blogging and website creation, such as WordPress, Blogger, Wix, etc., that come with themes that are simple to update and may be customized according to individual preference.
You can begin practicing whenever you have free time by taking a free design course on one of the many free online resource websites, such as Alison or Coursera.
Advertise your services on your various social networks, beginning with the people you know personally, and you will soon have a functioning business.
Nobody is going to tell you that you have to be in a relationship with the “big man” who will be driving you about and who is the one who will decide how much money you bring home each month. This is the point that we are trying to make.
You or a member of your family might currently have a car that poses a risk for you and your friends.
Why don’t you offer to take the children into your estate and take care of them? Or, why not go and talk business with the nearby elementary and middle schools that are too tiny to afford a school bus at the moment? You may even contact a company that is operating on a limited budget and make them the offer that you would work as an independent delivery man for them in exchange for payment.
I’m going to assume that you’re familiar with the concept of a blog. And I want to assume that you are already familiar with the various methods by which one can generate money using it.
When one thinks of this as a way to make money, the first thing that springs to mind is probably Google Adsense, despite the fact that it is a business that can be started with very little or no initial investment at all.
When it comes to producing money at home without using cash, the example given is merely the tip of the iceberg, as you may already know. You may offer advertising space to individual advertisers, provide a service to customers, or advertise banners from local companies, among other potential revenue streams.
The possibilities are, more or less, beyond bounds.
But what if I don’t own a laptop just yet? You can get started with an Android phone right away!!!! Yes, just set aside some modest money for data subscriptions.
8. Social Media Manager
You should be aware that in the modern, computerized world, “small things” can actually be opportunities that can earn one a significant amount of money. “Wasting your time perusing the internet” is an example of one of these “small things.”
The internet presents users with a wide variety of opportunities, one of which is the management of social media accounts for businesses.
There are a lot of large corporations out there, and some of them spend thousands of Naira each month to social media managers who are quite active. But what about less substantial businesses?
There are a lot of small businesses out there, and a lot of them have social media profiles and blogs that are redundant, and they fail to engage their customers.
They do not have the financial resources necessary to purchase digital marketing software or hire a social media manager. You only need to have a passion for social media, be knowledgeable about the best practices for having a brand presence on social media, and be open to gaining new information.
You help the company publish, share, engage their customers, and establish a strong brand presence, while the company supplies their content (or you produce it for them), and you help the firm generate a strong brand presence.