Connect with us

Career

Kingsley Umeh: 10 Business Ideas You May Consider If You Have Very Little Capital

Kingsley Umeh

Published

 on

dreamstime_m_74153206Are you interested in starting any small scale business here in Nigeria with little capital? Cheer up, this post is particularly for you.

Doing in business in Nigeria has its own ups and downs; that’s why it is necessary to do a thorough research in your intending market place market place. Nigeria is the best frontier for business here in Africa, because it is regarded as the best commercial hub in Africa which has attracted so many foreign investors to doing business in Nigeria.

One thing you should consider before you start any small business of your choice is to come up with a perfect business plan. It is the first thing that should come to your mind, regardless of the start up capital.The reason why I stated this, in essence, is that after sketching out a perfect business plan, this will determine the total sum of money you should be able to raise to start your business.

Here are the list of profitable and lucrative 10 business ideas in Nigeria to engage in:

Cement Retailing
Cement retailing does not require a school certificate or any skill acquisition, because it is well understood and also a straight forward business.This type business is very lucrative and profitable. You can make sales regardless of the season – rain or dry.
To commence this type of business, you need to look for a strategic location, proper management and getting in contact with cement suppliers. Top cement manufacturing companies in Nigeria which you can decide to purchase from are ‘Dangote, Elephant and Lafarge’. They are well known for cement distribution.

Rental Services
Here in Nigeria no matter how hard the economy might be, people will still plan for various ceremonies and occasions. You can never go wrong if you start this type of business, provided you have full interest and you are passionate about it. One thing you should consider when starting this type of business is a proper maintenance of those rental equipments (chairs,tables and canopies.) You also need to hire a van in order to transport those rental equipments to a particular occasion or ceremony.

Poultry Farming
Poultry farming is one of the biggest,lucrative and profitable agricultural business ever. Sone people might see it as a local business, but they haven’t seen the bigger picture.
I had a friend who once bought a ‘chick’ at the rate of #70 and later sold it at the rate of #3000 when they were fully grown and matured. The things that should be your main priority if you want to start this type of business are regular feeding, and frequent medication. Seek any vet doctor and maintain a good, well spaced and ventilated area (mostly an enclosure in most cases when have seen a poultry farm).

Natural fruit juice production business
So many people are becoming more health conscious, because most of the imported juice we consume are made of preservatives which can some times have side effects to the body system.
One interesting thing about this business is that it can be done conveniently from home. Purchase fruits of any kind and blend together, and filter the unwanted fruit seeds from the main juice.
Normally, it is stored in a plastic bottle form and preserved using either ice-blocks or freezer. One thing you should also note is the finishing touch. Your product should be well packaged; and at least, must be presentable for people to able to purchase. Don’t be ashamed or afraid to advertise your fruit juice product to your families and friends. They are there to support you.

Catering service(both indoor and outdoor)
Anything food related is a very lucrative and profitable business in Nigeria. Catering service business requires connections – that is getting in touch with those who want to host any ceremony or occasion with a need for good food to serve their guest.
If you are a good cook, then consider being part of this venture. Hire people that are willing to work with you, because this type of business is not best done alone. It comes with its own stress. Purchasing of cooking utensils should be on your list too.

Phone Repairs
Phone repairs need some technical knowledge, but this business is worth it.I know how much it costs just to change the damaged screen of any android phone. The need for delivery legitimate phone repair service has grown enormously almost in every part of the world. With little investment in phone repair tools, you can soon become the neighbourhood tech guru.

Frozen food sales
Frozen food business is one of the booming in Nigeria because it keeps getting lucrative day by day. I read a story of how a Nigerian who started with #50,000 and now he earns close to #80,000 every month from this business.
One major problem you might face if you want to start this type of business is power supply,thats why it is necessary to get a new big-sized stand by generator that will be able to power at least 2-3 freezers.You can under-study any frozen food business centre in your location and get to know the necessary things used to set it up.

Rice farming(milling)
Considering the present situation in the price of rice i think this one of the best agricultural business you can tap into.Rice farming usually takes a long process in the aspect of planting, harvesting and the milling process. It is an income generating business you can start today,you will never go wrong if you engage in this type of business.

Liquid soap production business
Liquid soap making is one of the best manufacturing business ideas any entrepreneur can think of. Liquid soap making requires a wide range of processing, packaging and marketing operation. You can start this type of business from home, but you need a perfect guide and other things needed for liquid soap making.

Restaurant/Bar business
Restaurant/bar business is an engaging and profitable business. Starting this type of business requires locating a strategic place. Busy and urban areas will be perfect.

There you have it… 10 business ideas you can engage in and make profit from. If there are any other small scale business you are interested in, that is not listed here, you can as well go for it. But be hardworking, committed and dedicated towards starting any business.

Photo Credit: Dreamstime

Kingsley Umeh is a business avid, online entrepreneur that loves sharing new business ideas for new and existing entrepreneurs on how to start, run and manage their business with less risk. You can also get my free eBook on 'How to start a successful small business in Nigeria' by visiting my blog. Blog  url:http://www.gistdeck.com Facebook url:https://www.facebook.com/gistdeck Twitter handle: @gistdeck Instagram@Kingsleyumeh1

9 Comments

  1. Gerry

    December 4, 2016 at 2:24 pm

    What is your definition of “very little capital”? Because 80% of what you listed require a lumpy amount to kick off.

    • Nene

      December 4, 2016 at 4:07 pm

      Quite true

    • Kingsley Umeh

      Kingsley Umeh

      December 5, 2016 at 12:17 pm

      Sir it depends on how you plan your budget…

  2. molarah

    December 4, 2016 at 5:25 pm

    Nice one. Neat list with great ideas to get anyone thinking in this recession.

  3. This guy is not OK.

    December 4, 2016 at 9:46 pm

    The concept of little is lost on this guy. Lovely write up still. Bellanaija sieve through you email I sent an attachment of a series, if you don’t get maximum readership and comments for it then I’ll be damned… There’s relationship, sexual orientation, ritualism, family and other themes in the series… Check it out or at least help me sponsor or into a movie or a series like ndani TV, you guys should branch into YouTube na.

  4. treasured

    December 5, 2016 at 3:32 pm

    tins mention here actually required good money to set it up

  5. Iya

    December 5, 2016 at 4:19 pm

    I saw the title of the post. excitedly opened it because I saw businesses requiring ‘very little capital’. Dear writer the businesses you listed require a GOOD amount of money no matter how you ‘plan your budget’…

  6. Tosin

    December 5, 2016 at 5:09 pm

    Well done Brov. You wrote this with love in your heart // passion to help others.

  7. Chinedu Ozulumba

    December 9, 2016 at 10:54 am

    Nice write up, what you can also do is to state an minimum investment capital for each class of business for prospective investors to know their limit. The rice and cement and many others you listed requires huge sums to be successful aside the phone repairs. Weldone bro.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Star Features

Advertisement
css.php