It’s no secret that in Nigeria one should have more than one source of income in order to survive the hardship and bad governance in the country. Irrespective of where you reside in be it Lagos or Abuja, there are multiple business ideas that could be established with low capital.
Establishing a small scale business in Nigeria is what the youths are using to combat the difficulties caused by leaders lavishing the country’s resources. This article contains a curated list of small scale business ideas that could be established in states such as Lagos, Abuja, Enugu, Oyo, Kano, and so on with low capital.
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11 Business ideas to start in Nigeria with low capital
1. Snail business
Snail business has always been in the know in Nigeria. Mostly in the southern region due to the high consumption of snail in that portion of Nigeria. Snails are sold at high prices whether alive or served as food.
Starting a snail business from the scratch is a relatively high cost but that’s going to be only spent in establishing the business. Once the business and resources required to operate the snail farm have been setup. The snail farm becomes a constant source of income while increasing in size and revenue respectively.
2. Fish farming business
Fish farming business has some similarities with the snail farming business. What separates the two is that fish are consumed in every region in Nigeria hence making fish farming the perfect business ides for those interested in using the agricultural sector to generate income in Nigeria.
Unlike the snail farming business, the fish farming business requires dedication and high capital for the startup. It’s equally important to establish fish farming in an area with access to water constantly.
Nigeria is a country with lots of diversity in terms of tribes, foods, and culture. Most Nigerian youth who have adequate skills to cook eye-watering dishes should look into catering. Catering doesn’t just mean cooking a large portion of food for weddings, traditional marriage or a ceremony.
In today’s world, catering is more digital. Cooking is done at home and marketed online via Twitter or Instagram. The food sold can vary from snacks, local dishes, and also foreign dishes. The more consumers that are derived the more orders coming in. Note that for a catering business to be successful, good customer service is essential.
4. Wig business
The selling of human hair, wigs, and attachment has always grown exponentially as fashion takes a center stage in Nigeria. When looking into the selling of wigs, attachment, and human hair in Nigeria, it’s important to consider the basic factors necessary to establish a Wig business. Factors such as contact of suppliers, contact of customers, and the knowledge of differentiating quality of wigs, attachment, and human hair.
Dropshipping is the most popularized business idea in the current Nigeria. Largely due to the low capital required in setting up a dropshipping business. For the purpose of clarity, dropshipping is the selling of products directly from manufacturers/suppliers to the customer without going through the usual channel of distribution.
When looking into dropshipping as a business idea to set up in Nigeria. A market survey is needed to establish a successful dropshipping business in Nigeria. Most Nigerians know that products sold in Nigeria are often gotten from China. Finding a good supplier in China that can be counted is half the work needed in setting up a dropshipping business. Get the contacts(customers) is the most important and difficult part of starting a dropshipping business. Dropshipping is a small scale business idea that can be owned by an individual in Nigeria with low capital while getting substantial revenue.
6. Barbing salon
Owning a barbing salon is a good business idea in Nigeria. Employing skilled barbers or working as one in the salon is the decision of the owner. The problem with owning a barbing salon is the location it’s established in. The location of the establishment would determine its growth and revenue in the long run. It’s important to take this into consideration when looking to start a barbing salon.
7. Car wash
Car wash is a small business idea that can be established anywhere in Nigeria. It’s quite to setup with minimum capital. Getting round the clock staffs to make sure that the customer service provided is premium.
8. Publishing business
Posters and banners are under the publishing business. Nigeria being a country that’s filled with different celebrating each week, the publishing department is never out of business. Having a publishing business doesn’t necessarily mean owning the heavy equipment needed for publishing. Having a publishing business requires having an understanding of the process needed in creating posters, magazines, banners, and more. Having this knowledge makes it easier to bargain and get the services of different tools needed to publish a project or work.
9. Web and UI design
Web and UI design has grown in Nigeria in recent years as foreign investors seek out youths with such skills globally. This isn’t really a business idea more like a skill that can be learned and polished over time. Having Web and UI design skills in Nigeria offers an individual the ability to work as a freelancer in Nigeria or online.
10. Delivery service
In major states in Nigeria such as Lagos, Enugu, Abuja and more, delivery services are needed. These services can inter-states or within the states. It’s simply moving a package from point A to point B. Package could vary from parcel to food depending on the setup of the business.
Delivery service is a business model idea that requires low capital to setup within a state or a particular location in a state in Nigeria. Proper research is needed before establishing a delivery service business in order to avoid failure.
11. Cleaning service
Cleaning service is new to Nigeria but it’s still a small scale business idea which requires low capital. These services can be offered to household, offices and other places that require such services.