Businesses You Can Start with Less Than 100,000 Naira

In a world where the inflation rate seems to be only going higher and white-collar jobs are no longer as promising, entrepreneurship is gradually becoming the order of the day. Getting a business idea and actually starting it is certainly an opportunity for people to have a chance at a better livelihood.

When it comes to business, there are so many approaches, depending on what suits your needs most at the moment. You can start a small business to earn income that allows you to meet only your daily needs. Otherwise, if you have plenty of capital, you can go all out for a bigger setup and make massive profits. Either way, a business propels you to financial freedom, no matter how little.

While starting a business has many challenges, capital remains a major constraint for many people. However, you don’t need to break your back to raise capital for a business. There are numerous businesses you can start with relatively low capital. 

In this post, we’ll explore businesses you can start with less than 100,000 naira in Nigeria that guarantee a 100% return on investment. Stay with us. 

POS Business

The POS business tops the list of the most popular businesses in Nigeria today. You will hardly walk through a street without finding at least one POS stand. The business has become one that is here to stay for a long time, and the best part is that you can start it with as little as 100,000 Naira.

Another good thing is that it is certain that you will make sales as a POS operator. This is because financial transactions are integral to life and POS serves as a subtle alternative to banking transactions. A lot of people would rather pay POS charges than queue up at banks for minor transactions. 

Financial transactions such as transfer of funds and withdrawals, payment of bills (DSTV, GOTV, PHCN), recharging of airtime, and selling of data among others can be taken care of by POS.

Mobile Food Vendor

This is another lucrative business idea you can start with less than 100,000 naira. Food is an important aspect of human existence, and people will always eat it, no matter how bad it gets. This, and a few other reasons, is why food vending is a popular business idea that guarantees a return on investment.

Quite a good number of people find it difficult to cook at home for several reasons. Some people have busy work schedules and are too busy to cook, hence, they resort to employing the services of food vendors. 

To start a food business, you need to have learned or possess cooking skills which will give you a sharp edge over your competitors. If you’re a good vendor, your ability to prepare delicious food is the major thing that will set you above your competitors. 

Thrift Business

Selling reasonably used clothes is a thriving business in Nigeria because many people who can’t afford original clothing items rely on thrift store alternatives. All you have to do is purchase these clothes in bulk from popular thrift stores in places like Lagos and Cotonou. Then you resell them to people in places with high demand for these items.

You can start a thrift business with less than 100k and you’re guaranteed to get your return on investment within 30 days. Just make sure you find a target market that your products will appeal to. For example, you can decide to sell female wear and create a customer base out of female students and women in corporate careers. 

Dropshipping 

Dropshipping is a great business idea for those who can’t afford to start a full e-commerce site. So, with as little as 100,000 naira, you can start a successful dropshipping business in Nigeria. In dropshipping, you serve as a middleman between a store and a customer. A customer makes an order through you at the store. In the same manner, the store sends the product to the customer through your name. For you to succeed in dropshipping, you need to choose a profitable niche, find a reliable supplier, and choose a good selling platform. If it works out for you, dropshipping can provide daily income for you.

Freelancing

A freelancer is someone who earns money on a per-task basis, usually for a short period. Freelancing is one of the cheapest and most popular ways to make money online in Nigeria today. With your mobile phone or laptop and a good internet connection, you are good to go. You can get online writing jobs, editor services, and data entry jobs. Additionally, you can also get digital services such as logo design, voice-over work, WordPress design, and so on as a freelancer. There are sites where people pay for these services. All you need to do is download any freelancing mobile app, register, render any of these services, and get paid. Some popular freelancing sites are Freelancer, Fiverr, Upwork, PeoplePerHour, Guru, Toptal, and BloggingPro.

Takeaway

Truthfully, the state of the economy demands that people find a sustainable business to help them survive. It doesn’t matter if you already earn a salary either. Some expenses can come up before the month’s end that your savings may not sufficiently cover. Starting a business, no matter how small, is a good solution to this problem. Thankfully, anyone can start a business in Nigeria with as little capital as possible. Plus, there are so many profitable small business ideas to choose from. With hard work, sincerity, consistency, and, of course, the right information, you can set yourself up for financial freedom.

Want to take your business a step further? Use Changera Business to access features that will ensure the smooth running of your business operations. With Changera, you can say goodbye to all payment glitches that businesses commonly experience. 

Download the Changera mobile app from the Google Play Store or App Store to explore all the amazing features exclusively made for you.