ADVERTISEMENT

10 low-capital businesses to start in Nigeria

Starting a business in Nigeria doesn't have to be an expensive affair.

POS business [Coin Desk]

Nigeria, Africa's largest economy, is a land brimming with opportunities for the astute entrepreneur.

The nation's vibrant culture and diverse population create a fertile ground for various business ventures.

The entrepreneurial spirit of Nigerians is undeniable. The drive to create, hustle, and build something successful is ingrained in the national identity.

But for many aspiring business owners, the initial hurdle of capital can feel insurmountable.

ADVERTISEMENT

For those looking to dip their toes into the entrepreneurial waters without breaking the bank, here are ten of the most affordable businesses to start in Nigeria;

Every household craves a clean and organised space, but not everyone has the time or energy to maintain it. Here's where you step in! With minimal investment in cleaning supplies and a can-do attitude, you can establish a cleaning service.

ADVERTISEMENT

Begin by targeting your immediate network – friends, family, and neighbours – and build a reputation for thoroughness and reliability. Word-of-mouth recommendations are powerful in Nigeria, so exceptional service is key to attracting new clients.

Who doesn't love a delicious home-cooked meal? If you have a talent for cooking, consider starting a catering service. This can be a home-based venture, focusing on small gatherings or office lunches.

You can begin by creating a menu of your specialities and promoting it through social media or local networking groups. As your business grows, you can expand your offerings and cater to larger events. Remember, excellent food quality, presentation, and hygiene are paramount to success.

ADVERTISEMENT

Zobo, a refreshing Nigerian beverage made from hibiscus flowers, is a perennial favourite. Capitalise on this national love affair by starting a Zobo business. The initial investment is minimal – basic equipment for boiling, chilling, and bottling, and of course, the Zobo recipe itself!

You can sell your Zobo directly from home, at local markets, or even partner with small shops and restaurants.

If you're tech-savvy, affiliate marketing is a cost-effective way to earn commissions by promoting products online. Start with a website or social media platform and grow your network to increase earnings.

ADVERTISEMENT

Nigerians celebrate events with zeal, and event planners are always in demand. Start small, perhaps by organising family gatherings, and build your portfolio to attract larger clients.

With platforms like Uber and Bolt, you can start a driving service business. If you own a car, you're already halfway there. Otherwise, you can lease a vehicle to begin.

ADVERTISEMENT

Nigerians have a deep appreciation for fragrant scents. This presents an opportunity to launch a perfume oil business. You can source high-quality fragrance oils and create your unique blends, or offer popular pre-made options.

Packaging is key – attractive bottles and creative labelling will grab attention. Start by selling at local markets or craft fairs and gradually build your brand recognition.

Home-baked goods have a special place in the hearts of many Nigerians. Start with simple recipes and sell to neighbours, friends, and local stores.

ADVERTISEMENT

Poultry farming requires moderate capital but promises good returns. Start with a small coop in your backyard and grow your flock as demand increases.

Cash remains a dominant mode of transaction in Nigeria. However, the growing adoption of cashless payments has created a demand for point-of-sale (POS) terminals. By becoming a POS provider, you can offer these terminals to small businesses in your community, allowing them to accept electronic payments.

This business requires a partnership with a reputable payment processing company, but the initial investment is minimal.

ADVERTISEMENT

Starting a business in Nigeria doesn't have to be an expensive affair. With creativity, determination, and a small investment, you can launch a venture that not only fills a market need but also paves the way for financial independence.

The key is to start small, grow organically, and reinvest your profits back into the business. Embrace the entrepreneurial spirit and watch as your business flourishes in Nigeria's dynamic economy.

Remember, the most successful businesses are those that solve a problem or fulfil a need. Look around you, identify what people want or need, and find a way to deliver it better, faster, or cheaper than anyone else.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

What is body-to-body massage and is it worth it?

What is body-to-body massage and is it worth it?

20,000 people have disappeared in this area in the past 50 years

20,000 people have disappeared in this area in the past 50 years

10 diseases that can reduce sexual performance in men when left untreated

10 diseases that can reduce sexual performance in men when left untreated

How Love Ends: My genotype made me lose the love of my life

How Love Ends: My genotype made me lose the love of my life

How to block Zenith Bank account and ATM

How to block Zenith Bank account and ATM

Big Booty Ranking: Top 10 countries where women have the biggest butts

Big Booty Ranking: Top 10 countries where women have the biggest butts

How to block your Opay account

How to block your Opay account

What to know about shilajit, a natural sexual boost for men

What to know about shilajit, a natural sexual boost for men

How 1 woman became first lady of 2 different countries — she married 2 presidents

How 1 woman became first lady of 2 different countries — she married 2 presidents

4 reasons pregnant women are not allowed to wear heels

4 reasons pregnant women are not allowed to wear heels

You can get sentenced to death for drug and alcohol use in these 7 countries

You can get sentenced to death for drug and alcohol use in these 7 countries

How to block your GT Bank account and ATM card

How to block your GT Bank account and ATM card

ADVERTISEMENT
ADVERTISEMENT