Cheapest Businesses To Start In Nigeria 2023

One of the factors that discourage a lot of business-inclined people to start a new business is the high cost of startup capital required. Some businesses cost up to half a million to start and for some, this may be too much to raise. However, what if you’re told that there are businesses you could start with little or no capital that can fetch you a lot of money? Yes, there are businesses like that. In this article, we would be uncovering these businesses. You would be reading about the cheapest businesses to start in Nigeria and what it takes to start them. This promises to be insightful, so don’t miss a line while reading!

Freelance Writing

When speaking about the cheapest businesses to start in Nigeria, one cannot look past freelance writing. Freelance writing involves writing for clients. This may be in the form of research writing, Small Engine Optimization (SEO) writing, etc.

You can start freelance writing with as little as zero naira. All that is needed to succeed in this business is to have stable mobile data and a mobile phone.

As you know, a stable data connection would help you look for clients online. A mobile phone would help you write. To get clients, you could use platforms such as Upwork and Fiverr. There, you would find clients who are ready to pay you in dollars. However, that is not the only means to get clients. Leveraging social media can help you get clients too.

Tailoring Business

Tailoring business is another business whose cheap startup is oblivious to many. Once you have the thread and sewing machine ready, there’s nothing that can hold you back.

The tailoring business involves you sewing dresses according to the designs selected by people. With just a sewing machine and a variety of threads, you could sew dresses from head to toe.
This business only requires two things, threads and a sewing machine. This doesn’t mean that other machines are not important, but it just implies that with these two mentioned above, you have almost all you need to start the business. You can always go to a bigger tailor shop to ask for other necessary machines. You can get clients by getting a shop or by running social media ad campaigns.

Affiliate Marketing

Affiliate marketing business is also another type of business you can start up with little or no funds. Affiliate marketing involves marketing goods. The more people buy these goods for you, the more commission you would earn from them.

This business has made a lot of people millionaires and it can make you too.
Affiliate marketing can be done online and can also be done physically. Depending on what suits you, you can choose which suits you.

For you to start affiliate marketing online, you need the products you want to sell and data. If you intend to start affiliate marketing offline, you would need only the product. This is also quite easy to start and make a fortune from in Nigeria.
Once people find what you sell helpful, they might just develop an interest in your products.

READ THIS: How To Get Loan Of N50,000 To N5,000,000 Business Loan In Nigeria For Your Small And Medium Business

Catering Business

The catering business is also another business that is among the cheapest businesses to start in Nigeria. Even though it looks like what you may earn is little, that’s far from it.

The catering business involves you baking confectioneries for events or even for sale. This industry is mostly occupied by females. So, if you’re a female, you could fancy this business.

You don’t need much to start this business except the ingredients. Once you have the ingredients available, you could make these confectioneries at home and supply them to stores around you. When you’ve established your brand, you can start accepting gigs for events. This business is one you could enjoy doing.

Event Planning

With zero naira, you can start an event planning business and be successful at it. Once you build your reputation, you would be one of the most wanted in this industry.

Event planning involves the management of events such as weddings, burials, and other occasions. The business is often overlooked but can earn you millions if you’re good at it.

To start event planning, you only need to have a sample of previous works ready. After that, you can run ads campaign to increase your visibility on social media. As your brand grows, you can get a website designer to build you a perfect website for your business.

Social Media Influencing

Social media influencing is also one of the cheapest businesses you can start in Nigeria. It is one of the most common businesses in Nigeria.

Social media influencing involves collaborating with brands to get attention to a product. It is easy to start and with the number of followers increasing, you could land even bigger deals.

Social media influencing involves you having mobile data and a smartphone. With these two, you can begin making posts that are captivating and in turn, building your audience.

Course Creation

Among other top businesses you could start with little funds, you have the course creation business. You can make money by selling your knowledge.

Course creation business involves writing about a skill you can teach people. For instance, you can teach people mini-importation by writing a course on it and selling it on platforms.

All that is needed to succeed in this business is your knowledge. With your knowledge and a data connection, you can make a course and sell it on platforms such as Amazon or other stores.

Ice Block Sales

If you live in an area with a poor power supply, you can take advantage of this by starting an ice block sales business.
This business thrives in areas where there’s little or no power supply. You could get a freezer and start an ice block sales business.

All that is needed is a fridge. If you already have a fridge, you can begin this business at no cost. Look for businesses that might need ice blocks to preserve their products and start making money.

FAQ

What business can I do with 30k in Nigeria?

With 30,000 naira you could start businesses such as the Popcorn sales business, groundnut sales business, fruit sales business, cooked foodstuff sales business, and underwear sales business. These businesses are easy to start with 30,000 naira and are also very easy to get customers.

What business can I do with 20k in Nigeria?

With 20,000 naira, you can start lucrative businesses such as dry-cleaning business, Okrika business, snacks business, soft drinks sales business, and VTU business. Those businesses require low capital to start up.

What business can I start with with 5000 Naira?

With 5,000, you can start businesses such as affiliate marketing, course creation business, etc. The businesses which rotate around this capital involve the Internet.

What kind of business can I start with 100 000 Naira?

The businesses that you can start with 100,000 naira include phone accessories sales business, phone and laptop sales business, barbing business, foodstuff sales business, etc. These businesses require that one is prepared before going into it.

Is course creation business lucrative?

Of course, it is. Course creation business would be lucrative especially if you have a high-demand skill to teach. Once people find what you teach very interesting, you would make money from your course.

Conclusion

Lack of sufficient capital discourages a lot of people from starting businesses. This article has been helpful in this regard. You’ve been able to see the cheapest businesses to start in Nigeria and what they require. Are you still dragging your foot? Go for these businesses highlighted above and start making money!