Searching about Which business can I start with 50k in Nigeria? Starting a business is a great way to make money, but it can be hard to get started. To make your business work, you need the right amount of money, the right tools, and the right knowledge.
Which business can i start with 50k in Nigeria
We can’t say enough about how important small businesses are to the country because they help solve big problems like unemployment.
The economy is falling apart all over the world, so now is the best time for new businesses to start up. This is the best way to save the world economy, which is falling apart.
Research shows that the best time to start a business is when the economy is in a slump or when the financial system is in trouble. This is because startups go into the market with a lot of energy, creativity, and a drive to solve problems. In the United States, the most jobs are at new businesses.
“The POS business in Nigeria: How Profitable is it?” might be something you want to learn more about.
These small businesses grew into big companies like Apple, Facebook, Google, and many others. Your business has a chance to be one of the most successful in Nigeria.
Small businesses hire people who didn’t get jobs with the government, help solve some of society’s problems, and even make the people who run them more financially stable.
Because of the benefits, there are now a lot of Nigerians who want to be entrepreneurs and run their own businesses. People in Nigeria and many other African countries who want to start small businesses, however, don’t have the money to do so because of how hard the economy is.
Because of how important they are to the growth of the country, many people in Nigeria, Africa, and the rest of the world are looking for a good business they can start with a small amount of money.
This article talks about 13 businesses that you can start in Nigeria with 50K or less (50,000 Naira).
If you can write or have the ability to learn how to write, you can start a blog about something that interests you. A popular way to start an online business is to start a blog. It’s common and can make you money if you do it right, and you can start with little or no money.
2. Affiliate marketing
Anyone can start making money with this great online opportunity with little or no work. A person who helps businesses or people sell their products in exchange for a cut of the profits is called an affiliate marketer.
3. Business of Tutoring Service
You can make a lot of money with this service-based business. You can start private home tutoring for kids in different subjects, or you can join an online tutoring service and be matched with a parent.
You can also host masterclasses with apps like WhatsApp or Facebook. You could put your classes on websites and get paid each time someone signs up for one.
4. Car Cleaning Business
Car wash businesses have been one of the most popular small businesses in Nigeria for a long time. This is because people will always need to wash their cars, and anyone, no matter how old they are, can start a car wash business.
You can build a car wash for people who are moving up in life and have a little more money by giving them a place to sit and watch TV while their cars are being cleaned. If you have enough room, you could make it a business with more than one way to make money by selling drinks, shawarma, and other things from the seating area. The most important things for a car wash business are a place to rent, a water source, and a washing machine.
5. Small scale farming
This is the most common kind of business you can start in Nigeria with 50,000 NGN. You can start your own small farm by buying seeds and planting them. To make money, you can also buy animals like chickens and sell their eggs or meat.
Small-scale farming has the potential to make a lot of money as a business. You can start small-scale farming right in your own garden. With very little money, you could grow peppers or vegetables to sell, start a snail farm, or raise chickens.
6. Pet sitting
Pet sitting is another good business you can start in Nigeria with 50,000 NGN. Many people love animals but don’t have time to care for them because of work or busy schedules.
People have work and other commitments, so they leave their pets alone at home for long periods of time. This can cause injuries or even death if it isn’t watched by a professional pet sitter who knows how to take care of pets when their owners aren’t there. This makes pet sitting a great business idea for anyone who wants to start their own pet business.
7. Food business
In Nigeria, you can start a food business with 50K. You can open a bakery, a restaurant, or a fast-food place.
To start a business, all you need is money, good ingredients, and the right place. You can’t say enough about how important food is. You can make a lot of money if you know how to cook. In the end, all you will need is a stand, some cooking tools, and food.
You can start by looking for a good place and making things like turkey and pasta. You could also specialize in making and delivering food for parties and other events.
To get more people interested in your business, you can market it on social media, post pictures of your food, and explain what you do.
8. Real Estate
You can also buy a house in Nigeria with N50,000. The key is to buy property in a good area where you can rent it out or sell it for a profit after a while.
9. Mobile Phone Shop
If you know how to fix mobile phones and other gadgets and have 50K, one of the easiest ways to make money in Nigeria is to open a mobile phone shop. All you need to fix phones are high-quality phones, accessories, and other tools (spare parts).
10. Laundry Business
This is another business you could start. You can buy a washing machine for as little as 18,000 Naira. You can buy detergents, wash and iron your clothes at home, and then take them to your customers.
In Nigeria, baking is a good business. Cakes and pastries will always be popular in Nigeria. Every party, from weddings to birthdays to graduations, needs a cake or a few small cookies.
You can start this baking business right in your own kitchen. You could start making money by selling little cupcakes and chops. Then, you can promote your baking business on social media to get people to order from you and start making a lot of money.
12. Soap Making
You could also make soap as a business. You can make liquid soaps for bathing and washing, brand them, and sell a week’s worth to different grocery stores.
You could also choose to advertise your soap on social media sites like Instagram or Facebook before sending it to your customers.
13. Deodorant/Perfume business
Selling perfume oil is another business you can start in Nigeria for less than N50,000 that will make you money. This business is easy to start up because you don’t need much equipment. To start this great business idea, all you have to do is contact a reputable perfume oil supplier who sells the scents your customers like.
Then, get some perfume bottles (usually 1ML) to sell your stuff in. You can make a lot of money by selling your perfume oils.
You can buy 10ML of a fragrance for 1,800 Naira, and then sell each 1ML bottle for 1,000 Naira. When you take away the cost of the 1ML containers, you’ll be left with
So, to sum up
With the way the Nigerian economy is, it’s a great idea to start a business. But most businesses in Nigeria will need a lot of money to get started.
We’ve found ten businesses in Nigeria that you can start for less than NGN50,000, so that’s good news. Please do your own research to make sure these businesses will work in your area and make you money.
Frequently Asked Questions Regarding Business in Nigeria
What business can i do from home in Nigeria?
There are lot of business you can tap into in Nigeria if you have all it takes for such business such as your capital, tools, and equipment to execute and be successful in your business, above listed business ideas are what you can start from home in Nigeria.
Can you do business in Nigeria?
Yes, anyone can start business and be successful as long as you follow the right procedure and also make sure you have all the rights from the government before your business goes life.
Can a foreign company do business in Nigeria?
Yes, foreign company can do business in Nigeria legitimately with no issue but make sure, you follow the government procedure and make sure you have your business registered and be transparent on what your business is all about and location.
How much to start business in Nigeria?
For as low as 30,000 naira, you can start a business in Nigeria but know that the more capital you use in starting a business the more profit you’d make and the more your business will skyrocket from marketing and equipment to achieve the business goal.
How much to register business in Nigeria?
Business registration in Nigeria have categories and features for each business or type of business you’d like to register, you can follow this link here to know more about business registration in Nigeria.
Why do small scale business fail in Nigeria?
Reason why small scale business fail in Nigeria are many but the most common one are the fact that the business was:
- Spend out every profit
- Sale on credit
- Family not paying
- High price on goods
These are part of what make small scale business fail in Nigeria as of today.