The current hardship in Nigeria is pushing Nigerians beyond the edge. Anyone who lacks ideas and some capital could continue to sing songs of lamentation.
It is a reason there is gradual increase in crime rate?
This hardship, spiced with a drastic increase in prices of food and other goods has killed many businesses, sending the owners back to the streets.
Many people who worked in offices are frustrated by transportation costs to the point that some are concluding that it is better to be jobless than to work for nothing.
This is because once you remove the transportation fare for the month, their whole salary is gone, as in ‘otilo’, as our Yoruba brothers would say.
People in this category require a special kind of pity.
Out of frustration, many have been pushed into depression, leading to suicide in most cases.
An Idle Mind
Others, have been pushed into drug abuse all in a bit to forget or keep their minds away from the endless struggle to survive each pashing day.
Indeed, because an idle mind is the devil’s workshop, many people end up engaging in illegal trades just to survive.
Cases of fraud, kidnappings, armed robbery and other crimes are now common in Nigeria.
But here, we have a solution that could help anyone who still believes that in tough times, tough people rise to the top.
Instead of thinking yourself to depression or engaging in illegal activities that would end up landing you in trouble, why not invest?
Yes, we know the country is hard, but starting a business with a budget of less than 100,000 Naira (about $240 USD) is feasible and can be quite profitable if you select the right venture and manage it effectively.
A Creative Mind
Starting a business with less than ₦100,000 in Nigeria entails leveraging your skills, being creative with your resources, and identifying opportunities that match the market’s needs.
There are so many opportunities one can invest in, all thanks to the internet, the millions of opportunities online are enough to feed millions of generations.
We have identified some businesses you can start with a little investment, considering the local market demand and the ease of setup:
1. Social Media Management Services
If you have a knack for social media, offering management services for businesses’ social media accounts can be quite lucrative.
This business requires just a little capital to start, just your time, a good laptop or smartphone, and a stable internet connection.
2. Freelance Content Writing Or Copywriting
With businesses constantly seeking quality content for their websites and marketing materials, starting a freelance writing or copywriting service is a great option.
Your investment would mainly be in marketing your services and perhaps a few online courses to hone your skills.
3. Small Scale Agriculture
With a focus on high-demand products like vegetables, snails, or poultry, small-scale agriculture can be started within this budget.
Initial costs include purchasing seeds or young livestock and basic equipment.
4. Home Tutoring Services
If you excel in a particular subject, starting a home tutoring service can be a great way to leverage your knowledge.
Expenses include transportation and marketing, such as flyers or online ads.
Once you set up, be sure that you will get some people who are interested in your offering.
5. Mobile Food Business
Starting a small mobile food business, such as selling snacks, breakfasts, or fast food from a cart or a small stand, can be very profitable.
Your budget will go toward initial supplies, cooking equipment, and a stall or cart.
6. Digital Marketing Services
With businesses moving online, digital marketing services are in high demand.
If you have skills in SEO, email marketing, or social media advertising, you can start with minimal costs, focusing on acquiring clients through networking and online platforms.
7. Bead Making And Jewelry Business
The fashion industry in Nigeria has a vibrant market for unique, handcrafted beads and jewelry.
Starting materials and tools are relatively inexpensive.
But you can sell your creations online, at local markets, or through consignment in stores.
8. Graphic Design Services
For those with a creative flair, offering graphic design services can begin with just a computer and design software.
Businesses need logos, promotional materials, and digital content, creating a steady demand for graphic design services.
9. Recharge Card Sales
Selling recharge cards and data bundles are businesses that you can start with a very small capital.
The demand for mobile airtime and data is constant, and you can begin by purchasing wholesale from major distributors and reselling to end-users.
Conclusion
Now that you have these ideas, it is advisable to forget about engaging in illegal activities for ‘survival’, that’s if you are considering it.
If you are still considering it, then it is not too late to make a turn.
Also Read: 5 Ways Mandilas Building Fire Will Impact Businesses
For those thinking too much and pushing themselves gradually into depression, now is the time to dust up, gather what you can, and invest wisely.
You see, with hard work, persistence and strategic planning, these business ideas can grow into profitable ventures.
God bless your hustle.
