Looking at the cost of living in Nigeria today, starting a business may appear to be a nightmare to an everage Nigerian, due to the cost that may surround the journey.
Just last week ago, a friend met me concerning a small offline business he wanted to start. Just to rent a space had already cramped his capital.
Looking at this, one may be tempted to think that there no business to start with small capital in Nigeria. But the truth is that when you look around and make your market research very well, you will definitely see that there are a lot of lucrative businesses in Nigeria with small capital, which you can lay your hands and make the best out of it.
Is A Low Capital Business Profitable?
Can I make Profit from a low capital Business? This is a very wrong mindset that have consumed the mind of many, and have deterred many Nigerians from starting up their dream businesses.
One of the things I learnt in my entrepreneurship course is that, in entrepreneurship, you start small and scale up. As a beginner, most times, it is not even advisable to start very big. Rather, start very small and grow your business along the line.
Many people always think that a profitable business is one that is started with millions or billions of Nigeria. This is a very wrong mindset; a business must not be so large for it to be profitable. There are a lot of profitable business in Nigeria with low capital, which most people usually neglect.
So, the summary here is that, a low capital business can still be profitable, as long as you give it a good management.
Some of all these Small businesses may even be more profitable than the ones you regard as large scale business. The problem is that no one wants to start small, an average Nigerian would always like to jump from zero level to highest level, without passing through procedures.
You Can Scale Up Or Change Your Business In Future Time
I know every entrepreneur has a dream Business they want to do. But what if your capital won’t be able to start up the dream business? What do you do then?
Seriously, if your dream business is too costly to start, and beyond your reach, then you must not wait until you get everything required to start the dream business. You can just find a small business with low capital and high profit, start it up, gather money from the Business and switch to your dream business.
10 Lucrative Business In Nigeria With Small Capital
Are there lucrative business you can start with little or no capital in Nigeria? The answer is YES! In this section, I’m going to open your eyes to many of these untapped businesses.
For purpose of diversity, I will be driving these Business ideas into Online and Offline Businesses.
Lucrative Online Business With Low Capital And High Profit
- Dropshipping Business
- Affiliate Marketing
- Content Writing
- Freelancing
- NFTs
1. Dropshipping Business
When you talk of Lucrative Businesses in Nigeria with small capital, dropshipping is one of them. In fact, you may not even need any capital to start dropshipping Business.
Dropshipping is a kind of business where store owners don’t manage inventory themselves. Rather, dropshippers buy the items from a third-party supplier who fulfills customers’ orders for them.
For example, you may just create an online store where you sell baby clothes, where as you don’t have any physical shop or product of your own. All you have to do is to liaise with a supplier of baby wears who has a warehouse. Then anytime a customer places an order on your online store, you can then pick the product from your supplier’s warehouse and ship it to your customer. Isn’t that so simple?
There are many cheap dropshipping platforms, like Shopify, Sprocket, etc; which you can use to build the online store and make the best out of the business.
2. Affiliate Marketing
Affiliate marketing is a business of promoting and selling another person’s, brand, or company’s products, and earning a commission for any sale you make. You can see that you don’t need any capital to start this kind of business, all you need is to find a product that moves Market, and promote it.
3. Content Writing
This is one of the most profitable business in Nigeria with low Capital. Do you even need a capital to start content writing business in Nigeria? Even with your mobile phone or computer, you can start making money from this business. All you need is just to learn the content writing skills, and you are good to go!
Content Writing is all about writing articles for companies Websites/products, blogs, etc.. You may not believe the amount of money content writers in Nigeria make, unless they tell you.
4. Freelancing
This is another lucrative Business you can start with little or no Capital in Nigeria. It involves offering yoir digital skills for sale, on many Freelance platforms like fiverr, Upwork, and so on.
If you have learnt any high-income skill, then you are really a potential billionaire. Just head over to any Freelance platform and start making cool money in dollar, selling your digital Skills.
5. NFTs
NFT means Non-fungible Tokens. It involves minting and selling digital artworks as cryptocurrency.
You could still remember how a serving Member of the National Youth Service Corps in Oyo state made over a million naira for just selling a photograph of an old male drummer, on NFT Market. You can learn this Skill and start making money without investment.
There are several other online business in Nigeria which you can start with little or no capital, and make a lot of money from them. You can check HERE to see more of the lucrative online business you can try out.👍
Lucrative Offline Business With Low Capital And High Profit
- Fast Food Business
- Phone Charging Business
- Music/software Download
- Foodstuffs Business
- POS Business
1. Fast Food Business
Without any doubt, without mincing words, I would love to open your eyes that fast food Business is a very lucrative businesses in Nigeria with small capital.
I know many people always take this Business to be a business of middle-aged married women. But that’s not true, anyone can do this business, even a young guy, even a graduate.
I know of a graduate doing this business in our street, in fact many people living around here have given out their stomach to this young guy, lol.. in fact he is making cool money from that business which many people neglect.
2. Phone Charging Business
Phone has become so important such that even the old women in the village may not be able to stay for two days without a phone.
You also can understand the situation of power supply in Nigeria, you can leverage that as a business opportunity. Just get a populated area and start this business, you will be surprised at how people will always be trooping into your shop to charge their phones, any day that NEPA didn’t bring light.
The only thing you need to start this business is just a small shop/container and a generator plant.
3. Music/software Download
This is another Business with low Capital and High Profit. It involves the use of laptop to put music, videos, games, softwares/applications to people’s phones. All you need to start this business is just a space, laptop, generator plant, and a speaker for playing music.
4. Foodstuffs Business
No matter how high and badly, the cost of living may be, no one can avoid food totally. This makes foodstuff Business one of the most profitable business in Nigeria.
It involves selling food items like rice, garri, beans, and other related food and cooking items.
5. POS Business
If I talk about the lucrative businesses in Nigeria with small capital, without mentioning POS business, then the story is not complete. POS business has always remained very lucrative, since its inception in Nigeria. No matter how saturated POS business may seem to be, it will always remain highly lucrative.
To make the best out of this POS business, you really need to go for the brands that have low withdraw charges. Because, this majorly determines the kind of profit you make in the business.
We have made a thorough research and have come up with a collection of nice POS brands that are very cheap to purchase, and also have very low withdraw charges. They can help you to make very good profit in this POS business. You may check HERE to glance through them.
I Don’t Have Any Capital But I Want To Start A Business, What Do I Do?
Many Business dreams are buried today because of lack of capital to execute the business ideas. But why watch your dream fade away while there are many ways you can raise capital in Nigeria to start any business of your dream?
This is a very big challenge I noticed is very common among many young entrepreneurs in Nigeria. And due to many questions we have received from our readers in regards to the challenge of sourcing a capital for business, we then took our time and prepared a comprehensive guide on how you can easily ascess/raise capital in Nigeria to start any business of your dream. If you follow this guide, I see no reason or challenge in getting the capital to start up your dream business.
You may Check HERE to get the full guide. Wishing you the best of luck!👍
