Starting a business in Nigeria can be expensive, but what if there were profitable business ideas that you could start for 50,000 Naira or less?
Too many businesses require a lot of money to start up and for this reason, those who have great ideas are not able to execute them as getting a loan is not easy for many because the requirements can be quite tasking
This is a question many aspiring entrepreneurs ask but rarely get reasonable answers to. 50,000 is indeed a lot of money yet looking at the country’s economic situation one can raise such an amount within a short time.
We’ve listed 5 business ideas you can start with 50,000 Naira.
1. Soap Production
Soap production is one lucrative business that can be started for less than 50,000 Naira in Nigeria. Dishwashing liquid and bar soap are widely used for washing clothes, plates, or even bathing.
Several skill acquisition centers offer training on how to make these soaps and the ingredients required are readily accessible. This is something you can do from the comfort of your home and sell to stores around you
You could take a step further and brand your product, and start distributing to supermarkets in various local governments.
2. Food Business
Everyone needs food to survive and this is one of the reasons why the food business keeps thriving. You can start a food business from the comfort of your home with 20k to 50k.
You can even deliver to companies during their break time saving them the stress and time going out to look for food by bringing it to them at the office. Social media has equally made things easy by offering a free advertising platform all you have to do is to target the right audience and give them reasons to patronize you.
3. Dry Cleaning Business
This is another great business idea. It is true that many homes now have washing machines yet how many have the time to do their laundry themselves? You can start this business right from your home with less than 50k.
If you have money to invest, get a washing machine and start doing it right in your home till you can raise cash for a walk-in shop.
4. Professional Writing
The professional writing business is getting increasingly more popular and lucrative than ever before with more entrepreneurs, students, and people seeking to get business plans, business proposals, undergraduate projects, speeches, letters, blog posts, and much more written for them.
If you have great writing skills, you could set up an SEO-ready website and market your service to a bulk of people who would be searching for businesses like yours.
All you need is your writing skills, internet service, and a laptop. This is something you can do from the comfort of your home.
5. Fish Fingerlings Production Business
If you have interests in agriculture, then you can venture into the fish business as it is very lucrative but it requires some skills. There are places to acquire the skill in most cases, it costs you nothing.
The process of producing fingerlings is easy, the only important thing is getting buyers ready before production. This business is profitable because you can make up to 50,000 Naira on your first production without spending more than 4,000 naira on fingerlings.
