Typically, the world at large is faced with a great challenge when it comes to economic growth. Nigeria is not left out of the facade, this is the reason why an average Nigerian is looking for a side business to boost his or her financial status.
While there are tonnes of businesses to venture into, in this article, I will be showing you a list of lucrative businesses you can venture into with little to no capital.
Let’s get started.
Lucrative Businesses you can Start with Little or no Capital
1. Content Creation
This is one of the businesses you can start with little to no capital because it typically involves the process of creating awareness for a brand. You can decide to write content for blogs, a selling copy for a business, and media outlets.
If you are interested in a particular niche and would love the world to know about it, starting a blog might be your best fit and amazingly you can earn from your knowledge by monetizing your site with ad networks, sponsored posts, affiliate marketing, and a lot more.
What you will need for this kind of business is your laptop or mobile device, internet, Webhosting, domain name, and internet.
3. Affiliate Marketing
Looking for another lucrative business to start with little or no capital, you can consider affiliate marketing. Typically, affiliate marketing is a price that involves selling a product for a company and getting a commission from the sales of this product.
Essentially, all you need is a blog or website relative to the affiliate program you want to join. Technically speaking, for you to become a big guy in affiliate marketing, you will need a lot of viewers and traffic plus you will really need to be resilient.
4. Graphic design
Visualization brings out the beauty of a brand and most businesses want their brand to be properly visualized as this draws the attention of viewers, this is where a graphics designer comes in. You can learn graphic design as a skill after which you can hone your design skills to a marketable level. People will always need flyers either for church programs, or their brands. You can even start for graphic design career with a free tool like canva.
5. Foodstuff Business
Food is always in high demand, especially soup ingredients, and the amazing thing about this business is that you don’t necessarily need to start big. Start small and with consistency, and dedication, your business will grow big.
6. Provision Store
Many Nigerians can’t step out of their house without taking beverages. Seemingly, we need detergents for domestic purposes, hence, starting a business that has to do with meeting people’s daily needs is the best bid. Provision business is one of the most lucrative businesses you can do with little to no capital.
7. Fruit Business
This is one of the lucrative businesses you can start with little to no capital. Statistically speaking, 50% of Nigerians loves to eat fruit either as a recommendation from Doctors or as something they love to do naturally.
Venturing into this kind of business is something that will boost your financial status especially if your fruit shop is positioned in a strategic place.
If you are someone that loves to be around kids, this business might be the best fit for you. Amazingly, you don’t need much to start this business, as long as you have a room where the children can be safe. This is because the security of the children is first in this kind of business.
9. Home Tutor
If teaching is something you love doing, then you should consider rendering tutoring services to people who need your service in their homes. Truth is, you don’t need capital to start this business, all you need is your teaching skills, and at the end of the day, you get paid handsomely.
10. Electrical Home Appliances Repair
This is one of the lucrative businesses to start with little to no capital. Interestingly, you don’t need a shop to be able to start this business, all you need is an efficient skill to be able to bring out the desired result.
We included this in our list because the era of radionics has gone in our society but people still need to fix their bad gadgets.
8 Tips for Starting a Lucrative Business in Nigeria
There are certain things to be on the lookout for when starting a business and they include:
- Be sure to get a very strategic location for your business.
- Seek the expertise of people who have been in the business for a very long time
- Master your skills majorly because no one will patronize you if your skills are not excellent,
- Be consistent, when you fail, shake off the dust and get off the failure syndrome,
- Develop good managerial skills
- Keep your financial records to date so as to be able to keep track of your sales
- Be punctual
- Don’t disappoint your customers.
Compare Other Business Ideas in Nigeria
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Amazingly, there are tonnes of businesses you can start with little to no capital, so you no longer have the excuse of not having something to do, all you need do is to find your area of interest, and then hone your skills to excellence, then launch out.
We hope this article on the lucrative business to start has been of great help to you, and we hope it helps you in making a decision on what business to start.
If you have any comments, recommendations or ideas, kindly use the comments.