Businesses To Start With Small Money In Nigeria
Often times, when people are about to start a business after raising a particular sum, the next thing they start asking is what kind of good business can I start with 300k? Is 500k enough to start a business in Nigeria? what business in Nigeria can i start with 500k and still make profits. They start asking these and so many other related questions.
However, the Nigerian economy has been crippled to the extent that starting a business with anything less than a million is like starting nothing. People no longer believe in using small capital to start their business; rather, they prefer waiting till they raise or borrow an amount that they feel will be substantial enough.
For me and any other positive-thinking business expert, a business started with low capital but with the right ideas may even thrive and grow bigger than the one built on high capital with little or no strategy. You don’t have to break the bank before you start something for yourself. Any reasonable amount you have can do.
In addition, I feel there are still a lot of businesses you can start with as low as N300,000 and still grow big. It’s all about the mindset, skillset, and the way you plan to run the business. For the same reason I created this post, after running my research, I found out you can still start some business with 300 to 500k yet still make it big.
Businesses To Start With 300k
-Sales of Mobile Phone Accessories
Of course, this is a business that’s known to many people. The phone accessories business is a very profitable business, as long as you are in the right location. With as little as 300k, you can start this. The profits are worth it. As you grow, you can even graduate to selling mobile phones. Most mobile phone sellers started by selling accessories first.
-Football Viewing Centre
As we all know, football is the biggest sport in Nigeria and a large percentage of Nigerians enjoy football matches. You can start a viewing center near your locality. 300K should be enough depending on your location. On weekends, when most leagues do have their matches, you can show different matches from different leagues. Many centres do change N150 to N200 per match. Imagine you get at least 50 viewers per match times the number of matches on weekends. That’s big money. It’s a business you can even run as a side business if you already have a business.
I believe POS business in Nigeria needs to be introduced or long talks as it is the reigning business now. Anyone can start a POS business. Plus, the profits from this business are high and there’s little or no loss in it. All you do is look for a spot to rent, register with the mobile money platform, get your POS machine, and hold some capital up to 100K, then you are good to go.
The laundry business is a good business. You can start with 300k. Most office workers, especially in big cities, barely have time to do their laundry due to long work hours. This is a plus for a laundry man. The few things you will need for the business are a shop, pressing iron, plastic buckets, and generator. Once you’ve saved enough, you can buy a washing machine to hasten or fasten up your services.
-Cooking Gas Business
You can start this business with even less than 300k. Cooking gas is what most Nigerians use everyday. You can start this in your neighborhood. A small shop, a gas tank, and a little capital are all you will need. It is pretty simple to start this business because it does not involve much expense.
Businesses To Start With 500k
The car wash business is a very lucrative business to start with 500k. Especially if your spot is near to the main road. Drivers and car owners barely have time to wash their cars themselves. So they get them washed and cleaned in a car wash. All that’s needed is a good location, a pumping machine, and a well.
You can start a block industry with 500K. The only issue is that you can’t buy a delivery vehicle for the industry with that amount. However, there’s an option for you and that’s to hire delivery vehicles to help drop blocks on your customers’ sites. Besides, some customers might even come with their own chartered vehicle, so you’ve got nothing to worry about. With time, you can save up and buy your own supply vehicle.
-Food Stuff Business
Food is an essential commodity. Regardless of how tough the country may be, people will still find something to eat. So the food business is so much in demand. Though there’s no much gain in food stuff ingredients sales, with the huge customers that will patronise you, you will surely make good profits.
This is another lucrative business that you need to start. People have become so obsessed with what they wear and how they look. Funny enough, boutique owners are the ones on the winning side here. Before now, many people only visit the boutique during the festive period, but now things have changed. People can spend their last dime just to look good.
You start a fish farm with 500K depending on how you plan to start. Fish farming is very lucrative as long as you have experience with fish rearing or, better still, you can learn from experts or study online. All you need is a location that’s near a river or water source, a pool-sized pond, and a variety of young fish.
There are lots of other businesses you can start with little capital. You don’t have to wait till you get a million to start. Some of these businesses are even more profitable starting with small money. Though startup capital determines a lot in business, but with the wrong idea or business it is a waste of scarce resources. Start small if you don’t have much. Grab up one of these businesses and start something for yourself and start making money. we recommend you register your business name in Nigeria with cac.