8 Profitable Low Capital Business Ideas In Nigeria
This is the generation of ideas. We have to wake up to that reality or we will be left behind. We all know that it is costly to start most profitable businesses but we the right ideas, you can still become successful in any business you choose. Do you know that there are many profitable low capital businesses in Nigeria? All you need to do is start.
This article is born out of the necessity to satisfy the growing curiosity on how to start a business with a low budget.
Searches on Google shows that people are quite interested in business with low capital and high profit, small capital business at home, lucrative businesses you can start with little or no capital, home business ideas in Nigeria, hot business ideas in Nigeria, business ideas with low capital and other related searches on lucrative business ideas in Nigeria.
Given the economic situation of the country, having profitable low capital business ideas in Nigeria is indeed, a welcome development. It will help eradicate poverty and decrease the unemployment rate.
A business you can start with 50,000 Naira and below that has the potentials of making you a millionaire is not a bad business.
We shall examine some of these profitable low capital business ideas in Nigeria.
List Of Profitable Low Capital Business Ideas In Nigeria
Commodity brokerage is one of the cheap business ideas or best businesses to start with low investment and high profit. It entails getting a buyer for a particular commodity for a seller of the same commodity and then brokering the transaction. By brokering the transaction, you earn a commission on every successful sale.
It all about pre-arranged formula. You earn based on what you have initially agreed to with the seller. It is usually in percentages and most times, you earn 5-20 percent of the sales money.
It is synonymous with affiliate marketing but this could be done offline and online.
It does not require money except the budget for transportation and communication. It is quite profitable if you can set up a good network.
Web design and development
This business idea requires skill to execute. You will have to take some time to learn web design and development. Since it only requires you to pick up a laptop which can be gotten at a reasonable price, it is regarded as one of the profitable low capital business ideas and best business to start.
Web design can be an easy business to start and you can market your skills through offline and online contacts. Remember, the client pays a certain percentage upfront before the programmer starts building the website.
You can consider it if you have flair for website development.
Professional writers are in demand. They are becoming very popular with each passing day. This is not unconnected to the increase in entrepreneurs, students, business plan seekers, proposals seekers, people in need of projects, dissertations, thesis, speeches and blog posts written for them.
All you need are your writing tools and you are good to go. That has made this one of the small capital business ideas or small investment business ideas. You can go online to find prospects; people willing to do business with you.
The best part is that if you develop your skill and work on publicity, you will have people at your beck and call waiting on you for the writing needs.
Social media management and promotions
One of the profitable low capital business ideas in Nigeria is social media management. There are countless people looking for who will manage their social media handles. This business entails that you will constantly be online to ensure the continuous presence of the people, organizations or businesses that you are managing their pages.
We have written a detailed article on how to start a social media management business. You can check it out here.
Tutoring is one of the best business ideas with a low investment that you can comfortably carry out. It is a service-based business idea and the major investment needed is to acquire the knowledge, skill, and expertise in a particular field.
Tutoring can be done in many formats. It can be done online. Here, you set up a website and advertise it so as to get people you will teach online.
You can also set up an offline base for tutoring purposes and get as many clients as possible and teach them the necessary things they need which you know.
You can also become a home tutor and visit homes to teach them the necessary things to kids and adults pending on the services needed.
Plantain chips production business
The level of consumption of plantain chips is quite high in Nigeria. Therefore, you can start the production of plantain chips as it is quite easy and cheap to start. It is one of the low-cost business ideas in Nigeria.
When you are looking for profitable low capital business ideas in Nigeria, soap production should not be left out especially, liquid soap production. There is always a market for soap in Nigeria as people must do dishes, laundry, toilets and bathroom cleaning and other necessary things that soap can be used for.
With a very little budget, you can start this business and if you can brand it along the line, then it could become even more profitable.
Here is a guide on how to start liquid soap production in Nigeria.
One of the best businesses to start with little money is small-scale farming. Small-scale farming requires just more energy and little money. it could be animal production business such as poultry farming, snail farming, goat rearing etc or crop production.