Ever wondered how to become a successful business owner with as small as a hundred thousand naira? If yes, you’re in the right place. A lot of people plan to join the entrepreneurship pool, but the lack of sufficient starting capital has killed this dream. Not all businesses start with millions of naira. With as little as N100,000 you can start a small business that’ll score you profits in the long run.
That being said, here are the top 5 businesses you can establish in 2019 with as little as a hundred thousand Naira (N100,000):
- Educational Agency: Nigeria is filled with hundreds of thousands of people who are willing to acquire some level of education. It’s no myth that citizens take education seriously. The conventional education scheme range from daycare centres, nursery and primary schools, secondary schools, and universities and other tertiary institutions. Outside these, you can set up informal centres like adult education, and special education centres. You can also invest in educational websites, technology, and resources for prospective undergraduates and secondary school leavers. It’s that simple, pick a niche you have a passion for, and invest!
- Agribusiness: The Nigerian landscape makes agri-business quite mouthwatering. The country has over 170 million people, and its agribusiness industry is one of the largest on the continent. With as little as N100,000, you can establish your business by turning to the lucrative side of agriculture. With a wide range of sub-sectors including fish farming, poultry farming, cassava farming, palm oil farming you can start making millions by bringing these products to the doorsteps of Nigerians. However, do well to undergo detailed market research on the lucrative agribusiness to invest your time and money on.
- Retail Stores: Everyone wants an easy life, and with as little as N100,000 you can meet the needs of hundreds of Nigerians who can comfortably afford retail shopping. Where can you start? There are so many items you can stock to sell in retail, they include clothing, medications, groceries, household utensils and many more. The best thing about opening or starting a retail store is that you can start on a small scale and still make meaningful profits. Why not start your fashion store, or online grocery store business for as low as a hundred thousand naira (N100,000), today?
- Web and Graphic Design Agency: The good thing about today’s businesses is that they want to have an online presence. To achieve this, business owners need designers to make great web and graphic content. If you have basic knowledge in web designing and development, you can use as little as N100,000 to kickstart your agency. Promoting your agency is easier with blogging, SME events, social networks, and numerous platforms. You can give tons of small businesses the opportunity to reach customers via blogs on WordPress or Blogger. All you need is your skills and a computer or laptop.
- Mobile Phone Business: In a country like Nigeria, an online or a retail mobile phone store will thrive. This is because the Nigerian market is large and everyone wants to own a phone. Build your customer base by standing out from the popular phone selling brands; offer juicy mobile phone deals to attract customers. Be sure to start by selling affordable mobile phones.
There you have it! There are other small and medium scale businesses in Nigeria you can start with N100,000, and become successful. Tell us which business you will love to start soon and why?