Given the current economic conditions in Nigeria, earning a living has become increasingly challenging. The unemployment rate continues to rise, prompting many individuals to seek alternative and legal ways to make ends meet. In response to this situation, this article has been specifically created for unemployed individuals who are looking to start a small-scale business with limited capital. Below, you will find a list of businesses you can start with just 20,000 Naira in Nigeria:
1. Cleaning Services:
Another business you can invest your limited capital is cleaning services. Getting the first contract is usually the breakthrough into the cleaning business as it is one of those businesses where the initial or down part payment for the first project could cover costs of items (e.g. cleaning chemicals, detergents, containers, extra hands etc.) needed to execute the project. And the accrue expenses can be covered from a piece of the remaining payment once the project is completed. The most important role to play is to seek for contracts from friends, family, share your business cards or flyers, alongside online contract hunting and campaign. With less than 50k, you can get all of the above mentioned in place, and secure your first project.
2. Shoe Repair:
Till date many people still overlook the upside of shoe repair business, but I will tell you that it is a “low key” lucrative business opportunity people are still yet to tap into. With many people investing in quality shoes these days, the need for shoe repair services is constantly on the rise. With as low as 20k, you can setup your location in a corner, start rendering services to customers and be making a moderate but steady pay from it. An average person can venture into shoe repair business, and if properly established and managed, can be upgraded into a shoe and sandals making venture.
3. Fuel Reselling:
Fuel scarcity in Nigerian has become a part of the everyday challenges as long queues can easily be spotted in petrol stations across most parts of the country. Fuel reselling business venture works mostly in the rural and remote areas where petrol stations are not easily accessible. In every situation they say is an underlying opportunity for those who sees it and are willing to tap from it. People have been making money from petrol reselling for years and many more people are still venturing into the business and making money from it till date. Once you have a means to buy some appreciable quantity of fuel from the fuel station, you can start reselling to motorists, Tricyclists, or bikers who are perhaps stranded in those areas. You can also wait for the best time to sell, a time when there is scarcity or long queue at the petrol station. With this you can be making over 50% of your investment in every turn over.
4. Dry Cleaning Services:
Dry cleaning is very profitable if you live in an urban area of the city. Due to the busy life in the city, a lot of people barely find the time handling their chores like washing and ironing their office and domestic clothing. If you render a good service to any of such individuals, they will always come back to patronize you, and even get you referrals. As a startup in dry cleaning business, your customers may not be as much for you to acquire washing machines at the early stage. With as little as 20k, you can get the most important tools and start making a decent earning, and then plan to expand your business with time.
5. Fairly used clothes:
Today, with as little as N10k, you can start an Okrika (Fairly used clothes) business, whether in small township, city or village. All you need to do is to get the right clothes for your prospective customers. If you want to sell for women only, you must get good female clothes. If you want to sell for adult male or for little kids, you must get the clothes that suit these set of customers respectively. Lately, going for brand-new clothes have become too expensive to afford. You’re guaranteed of making sales and gains because most Nigerians now generally go for fairly used items. Even the middle class still buy fairly used clothes sometimes, maybe for specific use (eg. sports jersey for jogging), they may also buy for their wards for other specific reasons.
Conclusion
With the list of small-scale businesses provided above, you have a starting point to begin earning a living. However, it’s important to recognize that starting small may not always be easy or smooth. As with any business, you must be prepared to endure challenges and dedicate time to nurture your venture before it begins to generate significant profits.
I hope you find this information helpful. Please feel free to share this article and leave a comment if you have any questions or additional ideas to contribute.
