What business can I start with ₦100,000 in Nigeria?
Have you considered starting an online business? I know you’re probably thinking about an offline business like fashion designing, farming, buying and selling, etc. However, you’ll likely need a huge amount of money to start some of those.
If you go for something like blogging, you may not need to spend as much as that. You should just have it at the back of your mind that you may not immediately make huge profits. I can definitely put you through how to go about it.
Blogging offers you many opportunities to make money. You may use ad services like Google AdSense or even sell your own ad spaces. But that may not be a good idea if you don’t have enough traffic yet.
Setting up a basic blog for a start, you may not even need to spend up to N50,000 for a standard website. Eventually you’ll have to renew it but if you’re consistent, you’ll make way more money that your investment.
If you are an “internet” person with specific skills, you may also consider:
You don’t even need to spend N100,000 to start these. But they all need you to be consistent and to always give value. You’ll get new clients from referrals.
Thanks to the pandemic plaguing the world right now and the new reality we all have to face, the best business to start up right now must be something that would require your coming in less physical contact and having to hold less physical interactions with clients, while still putting your capital to good use.
A lucrative business you should consider with this amount is Dropshipping, which, simply put is the setting up of an online ‘shop’ where people can make orders and pay for products which would be delivered to their locations courtesy of any trusted logistics company.
The good news, like I said, is that, this business requires little of physical contacts as you can setup everything online but you must ensure you do your due diligence in both the companies you order your products from and the logistics company you entrust your customer’s products with.
You can set up a shop where people can order for phone accessories, bags, shirts, footwears, house utensils, computer accessories, electronic gadgets and many more. But with your capital, it is advisable you stock up your virtual shop with fast moving and cheap items like bags, accessories, wears and shoes.
What you’ll need is a lot of publicity and adverts which you can either do yourself on social media or pay for ads on sites to reach a wider number of potential clients.
Another business you can start with this capital is buying and selling of Domain names.
Truely, this pandemic has opened people’s eyes to many business that can be started with little fund and which does not require an office space.
For instance, many people are now able to produce and package their products at home and deliver to the customer’s door step. Many do food delivery and many more.
Also another business is the preorder of goods through another person. This requires little or no capital as the person who wants the product or service pays you to get it on his or her behalf.
Also, many do not want to go out to get things for themselves due to the fear of the covid 19 and so they employ the help of other people and thereby pay the person who helps them run the errand. So many business idea that one pays no attention to.