The need for individuals to have ideas or start up a small business in Nigeria cannot be over-emphasized, especially with the current dwindling economy, the uncertainty, and insecurity that often loom over jobholders. It is common knowledge that in order to start up a business, capital is required – however, the amount of capital required depends on the type of business one wants to venture into.
Becoming an entrepreneur does not mean you have to break the bank – in fact, there are plenty of small business ideas in Nigeria that are under 50k and they are available to you! You do not have to wait on the sideline for that big break before you can think of an idea to pursue, here is a list of 5 businesses you can start up under ₦50,000.
Liquid-Soap Production and Paint Making
Carry out your feasibility study! There are no resources that you can’t get a hand on. So, get on Google, YouTube, etc. Read-up and make your move.
Get some form of training either free online (tons of videos on YouTube) or book a make-up training session for not more than
N30,000 with MUD or House of Tara. Free make-up sessions are occasionally advertised, so, keep your ears open. Get in sync with current styles that would keep you in business.
Fashion Accessories (Bead/Hat Making)
Either go on YouTube or pay a little fare for a training session to perfect your skills and learn about current trends.
Read up on how, purchase necessary tools and equipment for start-up. Most importantly, get your contact – start with your friends and neighbors.
If you want your business to thrive, then you need contacts! So get your complimentary cards nicely done and stuff them in your bag, pocket, glass cases, wherever you can easily access it! Make the most of networking opportunities (parties, ceremonies, weddings, trainings, conferences, volunteer jobs, etc.) where you can introduce yourself and drop your card in hopes for a business relationship or even referrals.
Blogging and Affiliate Marketing
Starting a blog is relatively easy and requires little or no capital assuming you already have a laptop and internet service! The first step is to have an area of focus and have passion for it – without which you can’t succeed. Consistency, quality and good contents are key to thriving in this type of business. Do your research. There are a lot of articles on the web on this topic. Several platforms such as Google Blogspot and word press offer free domain subscription to start with.
Photo credit: Featured Image: resourcesforsinglemoms.com
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