Ideas rule the world — and thebusiness world is not an exception — here are the 10 profitable businesses inNigeria with low capital.
We all need money, but noteveryone knows ways to make money. For many in this country, the Nigerianeconomy is not robust, and it could be hard to remain sangfroid in the face ofthis gloomy reality.
However, try not to bedeterred by this as research has shown that the times of economic crisis &financial meltdown are one of the best periods to launch a business enterprise.Fortunately, you do not require large capital to start a successful smallbusiness in Africa’s most populous nation.
All you need is great businessideas as well as a well-designed execution strategy. Of course, you alsorequire a healthy dose of passion, ambition, and determination.
Talking about sound businessideas, let’s look at the top 10 profitable businesses in Nigeria with low capital.
Profitable Businesses in Nigeria with Low Capital
Uberpreneur (Uber Driving)
Based in San Francisco, US,Uber Technologies is an American ridesharing organization, operative in morethan 790 countries, which provides services such as ride service hailing,peer-to-peer ridesharing, bicycle-sharing system, and food delivery.
People elect to drive with Uber for a wide range of reasons. For some, it affords them the leeway to drive at any time and in place they choose. Such individuals are averse to working under anyone and cherish the opportunity the job gives them to work for as long or as little as they like, sticking to a schedule most suitable for their needs.
Driving for Uber is among themost lucrative businesses in this country in 2019. An average Uber driver makesaround ₦80,000 – ₦120,000 Naira each week.
Social Media/Influencer Marketing
According to Statista, some 40 million Nigerians own a smartphone in Nigeria right now. Looking at this huge figure, you would understand why popular social media networks like Facebook, Instagram, Snapchat, YouTube, and Twitter are a powerful money-making tool for millennials in the 21st century in Nigeria.
On these platforms, you canmake a load of cash by sharing compelling content, by developing a loyalfollowers list. Social media marketer or influencer is a promising niche if youare gung-ho about social media.
Start by building up afollowing on your preferred network and, in no time, you could get deals fromfamous brands, gear companies as well as other relevant businesses sellingproducts or offering services that are related to the kind of content youshare.
Freelance Content Development/Ghost-writing
If you are a kind of person who has a way with words, you can carve a solid niche for yourself in freelance writing/web content development. Depending on your passion and interests, you can choose to set yourself up as a freelance content developer, working full-time or part-time.
You can earn constant streamsof income writing for companies in Nigeria like media agencies, blogs andbusiness startups. They will deploy your content for advertisements, on theirwebsites or blogs.
Graphics Design
To foray into graphics design,you can learn the foundations of the art on your own with the aid of tools,such as Adobe Illustrator and Photoshop. (Having a formal background ingraphics design will surely make things easier, though.)
Start by learning the ropes and honing your skills with creativity and excellence as your watchword. You can showcase your design skills on platforms, like Instagram, Nairaland, and Facebook, to develop a good customer base. Apart from these sites, you can also source for clients on online marketplaces.
Bakery
An excellent approach tomaking money is harnessing your culinary skills to start a bakery business.Your friends might have commended you as a great cook; it is time youconsidered selling this skill.
To earn a decent income as a baker, you can open a social media account (Facebook, Instagram Snapchat, YouTube) on which you’ll share a picture of your samples, post your bakery and contact details, make use of relevant hashtags to advertise your work.
The platform will also let yougain the interested audience and handle requests from people that need cakes orcupcakes for events, such as birthdays, weddings, anniversaries, etc.
Small Chops Food Making
Small chops business is one of the profitable businesses in Nigeria with low capital. This is another area you can venture as a great cook. The business is currently in huge demand as a lot of Nigerians, holding celebrations with friends & family, need small chops food to entertain their guests.
Interestingly, there has been a spike in the desire of Nigerian people for light meals. Party-goers now prefer light food at various outings, so hosts hire a nice cook to make it for them.
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Blogging or Vlogging
Did you think I would leavethis out? The Internet boom in this age has been a boon for many tech-savvypeople, not less bloggers or vloggers (YouTubers).
Blogging or vlogging is amongthe most popular and lucrative sources of income today. A bevy of bloggersdevelop their own content, which focuses on different topics, such as business,technology, fashion and lifestyle, politics, celebrity gossips, and manyothers.
To start a blog, find thatparticular niche focusing on something the public would find engaging.
You can vlog on YouTube,creating and posting content users will find appealing to garner thousands ofsubscribers, likes, and comments.
If you have some understandingof marketing and are a talented writer or creative individual, these will be abig boost.
Digital Marketing Agent
Social media marketing is oneof the core aspects of digital marketing, a term encompassingall marketing efforts involving the use of electronic device or theInternet.
A digital marketing agency isstarkly different from a traditional one: The former involves efforts that arefundamentally concentrated on marketing in the digital world, unlike the latterwhich deals with the real world. You do not have to spend huge capital onstarting your own agency.
Once you have some skills inthe digital ecosystem and experience in marketing, you are all set.
Drop-Shipping
Dropshipping is also a greatbusiness idea, which can potentially generate some income for you. Plus, itdoesn’t require much money to start.
These are the essential thingsyou need: a smartphone/laptop, internet connection, and social media accounts(Facebook, Twitter, Instagram, Snapchat, and the likes).
You will carry out yourinternet promotion on these platforms. Many people have already generatedmillions of naira in this business.
It is crucial that you try toidentify what people mainly need at the moment and learn ways to search forthese items. AliExpress is a nice place to get started.
Hobby Teaching
Last on the list of profitable businesses in Nigeria with low capital is teaching. If you are skilled in areas like academics, sports, music or games, you can venture into this business. As every parent would desire that their kid be famous for something, hobby teaching might be a good enterprise for you.
You can organize weekendclasses. This type of business does not also require huge capital, so it iseasy to start.
In a Nutshell
To make money in 2019 as aNigerian, you will need to invest some money. However, the top 10 profitablebusinesses in Nigeria with low capital are great business ideas that you pickfrom and create a business venture easily, without making a huge investment.
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