The unemployment rate in Nigeria is very high as there are no jobs to absorb the teeming number of graduates that our Universities produce every year, hence there is a need to think out of the box and create a job for oneself.
Starting a business in Nigeria can be expensive to execute. This is due to the fact that too many businesses require a lot of money to start up and for this reason, those who have great ideas are not able to execute them. Getting a loan is not also easy for many because the requirements can be quite tasking.But what if there were profitable businesses in Nigeria that you could start with just 50,000 Naira or even less?
Below are some businesses you can start with #50,00 in 2019:
Small Scale Farming
Government diversified policy has made the Agricultural sector enjoy more viability as low-interest loan and other incentives are made available by Government to encourage farmers. Hence there is a larger market for all kinds of farm produce both locally and internationally. With a little capital, you can a small-scale farming business like grasscutter farming, snail farming, poultry farming, and more could be started with under 50,000 Naira if you’re starting from your backyard with minimal resources.
Makeup Artistry
Nigerians love to look good always at every public appearance. With weddings, occasions, and events happening every weekend, you can earn up to 100,000 Naira from some clients by simply applying your skill on their faces. You don’t have to own a studio before you can begin this business, with as low as #50,000 you can get the tools you need and start the business from the comfort of your home. Social Media is there for you to promote your business and catch up with prospective clients.
Commodity Brokerage
Commodity brokerage is one of the most profitable businesses you could start for less than 50,000 Naira. This involves linking up a seller with a prospective buyer. You will earn a commission like 5% of the total sale price for every successful sale made. There so many things you can broker like, houses, cars, lands, used phones, Electronics and so on. You don’t really need capital to start this business.
Fast Food:
Food business is a lucrative business and profitable as you would hardly find a person who would not eat a day. With as #50,000 you can begin your ride to financial freedom through this business. All you need is a strategic location with a good number of human traffic, Kiosk and other cooking appliances with foodstuffs. It, however, needs a close ownership presence for proper management as it has its own risk if not properly managed.
Barbecue/Sharwama
This is a fast-growing business that many people are venturing into because of its viability and profitability. All you need to do is to learn how to make shawarma and barbecue, get a good location (Preferably a hotel), grilling machine and sharwama ingredient. You can start this business with #50,000. It is has a minimum risk involved.
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Laundry/Drycleaning
Laundry/Drycleaning: From the corner of your one-room apartment, you can start this business. If you are not lazy, you may start by washing it yourself before getting a washing machine. You need constant assess to good water, and other washing materials like detergent, basins etc iron, and a good pressing table.
Popcorn
Popcorn: Popcorn business is a viable business idea. You can get the machine for as low as #45,000. All you need after this is corn, butter, sugar and you are good to go. Location matters here too.
Wig Making Business
Wig Making Business: Are you a hair stylist with no shop to operate? You need to start making wigs. This is a very lucrative business for women. The demand for wig by women these days is very high. You can make a good and beautiful wig for as low as 5k and sell it for 15k
Freelance Writing
Freelance writing is more of a service than business yet if you have excellent writing skills this is one area you can thrive. Many people are willing to pay for well-written resumes, proposals, school thesis, and even website content. All you need is your writing skill, internet service, and a laptop. This is something you even can do from the comfort of your home.
