Despite the economic downturn, Nigerians are known to be very industrious people wherever they are found as they are very proud of this unique trait. With so many ideas floating around the table, you would think that everyone is an entrepreneur but the sad reality is there is little or no capital to make these ideas become real.
What many may not know is that there are some businesses you can start with as little as ten thousand naira or less. Let’s take a look at a few of these lucrative businesses you could start with such a small amount
1. Fast Food Business
This is an evergreen business for every season. It’s always in demand.
People need food to survive! No matter how laborious or robust an economy is, one thing people will never do without is food. This is a business that, if you run well, will make you wealthy.
It’s very easy to win loyal customers. As long as your food is delicious and nutritious, customers will always return. If you can get a decent location, acquire the proper skills and personnel, you’ll be able to run a successful food business.
2. Freelance Writing Business
The rate at which young Nigerians are learning the craft of writing is quite encouraging. Believe it or not, it is now a fact that Freelance writing is one of the businesses you can start with little or no money at all and become rich. It mostly involves creative writing for publishing and advertising firms like writing articles, sales letters, copywriting, product reviews and more just to mention a few.
You can start this from the comfort of your home but would need to have a computer which many might say is higher than 10k. If that is the case, you could use a friend’s laptop till you can afford one.
Also Read: Explaining the Business Benefits of Succession Planning
3. Small Chops Business
No doubt this is one of the most fast-rising small businesses in Nigeria today as you see them in almost every corner. Also, Nigerians love the idea of small chops at any event both big and small. You might have to do a bit of networking to find out where these events are going on or who is hosting these events.
It’s important to note that most people confuse making pastries with making small chops. They are definitely not the same. You might be great at creating pastries and different edibles but sulk at creating small chops so it’s important to know what the differences are and learn how to make yours stand out from the rest. If you achieve this, your phone will never stop ringing with clients.
4. Barbing/ Hairstylist.
Nigerians have looked down on this business for a very long time with the belief that what hairstylists charge is barely enough for them to feed, not to talk of making a good living till recently. Hairstyling is a really big business because we all need our hair done to look smart. A lady can do her hair up to 14 times in a year even with guys these days, having their hair done to look stylish apart from barbing.
If you’re interested in this business and you think capital is the problem, we reckon you think again. You don’t need to go and open a luxury saloon or buy expensive equipment to start. You can start with as low as 10k or even less by getting the necessary materials you need and watch as your business grows gradually.
5. Cryptocurrency Trading
This is an internet-based medium of exchange that uses cryptographic functions to conduct financial transactions.
Cryptocurrency trading is the act of speculating on cryptocurrency price movements. This can be done via a CFD trading account or buying and selling the underlying coins via an exchange.
If you like this, you have to be careful and have a high predicting sense when venturing into this business because it deals with the rise and fall of a currency.
You must have heard of the 12 years old Hanson. He bought a $20 cryptocurrency and made nothing less than $18,000 after a short period of time.
For those looking for a small business to start, do you think you can start any of the above mentioned, you can think of a business line you are particularly interested in and start off today.