10 BUSINESSES YOU CAN START WITH ₦10,000
The economic quagmire and the plethora of limiting factors in the Nigerian business space can make it difficult to start a business or maintain the sustainability of one in operation. According to Nairametrics, about 21.7 million Nigerians are unemployed. Most unemployed Nigerians do not have access to Business loans because the criteria are unrealistic. These are only a few indicators of Nigeria’s feat as the World’s poverty capital. Despite these worries, here are ten businesses which the average Nigerian can delve into with little capital.
Here are ten businesses you can take up with ₦10,000 or less:
OKRIKA CLOTHING BUSINESS: This is very popular among Nigerians. Okrika wears are London-used clothing which are imported to the country. Over 70% of Nigerians buy Okrika wears. This business is also lucrative and cheap; thus, profit can be made without hassle. It is a business with high demand (especially female and children wears).
FINGER FOODS BUSINESS:
Finger foods (commonly, small chops) are my go-to snacks at any moment of the day. Starting this small but mighty business is easy, and with even less than ten thousand naira, something can be done. Small chops are every party’s delight and with the right quality, quantity and service, this business would become your breakthrough–just trust the process.
FOOD BUSINESS: Everyone likes food or at least, we all need food. This makes the food business one of the most profitable businesses! This business is remunerative, irrespective of what kind of food is sold. It requires no hassle, and with ten thousand naira coupled with a well-located stall, it is done.
CROCHET WEARS: This is a handmade clothing business. It is easy to learn, but this must be done thoroughly, as it is a skill that requires concentration and consistency. To start this trade, you would need a smartphone, internet data, a crochet hook and a few yarns. It is advisable to learn the latest designs on youtube. These do not cost a lot and though the learning process is time-consuming, you would be able to produce crochet pieces that are beautiful and can bring in a lot of income.
MINI IMPORTATION BUSINESS: This is growing popular by the day, and when looked into, it is a business that can be started with low capital. With ₦10,000, you can do more than you think. All you need is an agent, which may be your friend and your adherence to their instructions. It yields a lot of income and can be done remotely.
HOME TUTORING: This is an interesting business to engage in and it can be done with a few teaching tools, a suitable learning environment, and students. You do not need up to ten thousand naira to start this up. With the coronavirus pandemic and its conditions, people have taken to home tutoring students within their neighbourhoods, with little or no hassle. So if you have a flair for teaching, this is for you.
FREELANCE WRITING: This is a creative way of generating income. To monetize one’s skills, freelancing is one of the ways to do so as a writer. The amazing thing is that you do not need as much as ten thousand naira to get this started! All you need is fast internet and your skill, of course. Not only would you get these gigs off the internet, but you would also get the experience and over time, your freelance business would grow. So, dear writer, waste no more time and delve into this. The most important requirement is to learn the art and act of content creation. Contact Talkamonline to register for the next content creation class.
LAUNDRY SERVICES: This business is popular, and may require no more than ten thousand naira to begin in a low-class society. It is lucrative and can be done in the conventional way where you wash for people at their homes, or they come to you at your store. Simple right? However, if you do not have a washing machine, it is advisable to stick to the conventional pattern of washing until you can afford one.
SOAP MAKING BUSINESS: Soap making is a well-known and profitable business. It can be learnt easily, and the process is not so tedious. It is not expensive to start up and can yield a lot of income if properly done.
DIGITAL SKILLS: Digital skills are becoming as trendy as the world becomes a global village. The amazing thing is that it requires little or no amount of money, and these skills can be monetized without stress. Google is a good source of marketable digital skills, alongside other sources such as Udemy, which has a wide range of courses at low prices.
In conclusion, it is important to be resilient because there are ‘many others’ who are into these businesses. What is important is one’s tenacity and dedication to deliver topnotch services because great products aren’t always enough.
For whatever reason, there is, do not hesitate to start that business, because your ₦10,000 and the right factors may be what you need to become the next business tycoon.
Do you need help in promoting your business in a competitive market? Contact us here.