You are looking for business ideas that don’t require a lot of money to get started? You’ve come to the right place. This article will discuss the 50 types of businesses you can start with ₦50k or less. Bear in mind that some of these businesses may require a little more than 50k to get started, but the initial investment will be much lower than traditional businesses. So, whether you’re a recent graduate who is just starting out or you’re looking for a new venture to invest in, these businesses are a great option!
List Of 50 Businesses To Start With 50k or Less This 2022
1. Production of Liquid Soap business:
The liquid soap market is so large that big companies cannot keep up. It’s a product that every household needs, and as the population increases, so will the demand for it. You may find homemade liquid soaps in plastic bottles with no branding for between N50 and N100 if you look around. With a bit of amount, you may generate a lot of money. You can also offer to supermarkets and other merchants who sell directly to consumers and restaurants, bakeries, caterers, and housekeepers. You might need religious training from centers set up by religions, governments, and non-governmental organizations. Create an enormous market with branding and appealing packaging.
2. Snail Business:
Snails are very nutritious, and their eggs are a delicacy in some countries, including Nigeria. They can be processed into snacks or used as ingredients for other dishes. You may also want to set up a snail farm; you’ll need less than N50,000 if you start small on a rented piece of land. You can make over N100,000 in four months with a well-managed snail business.
3. Food business (canteen):
This business doesn’t require much money to start and has significant growth potential. You may need to rent a shop, but the cost will be small. Food businesses are the best to start in Nigeria with ₦50k or less. For example, you can open a canteen with just ₦50k and later expand to a restaurant when you have raised enough capital from the canteen business. Another great thing about the food canteen business is that you can make more money by supplying food to schools, churches, and other events.
4. Hairdressing business:
Many people often get their hair styled, and you can make a lot of money with two or three daily customers. You may not need much to start this business because all the equipment you will be using is cheap, except shop rent. So, if you don’t have enough money to rent a shop, you can ask anyone that has a salon that they don’t often use to let you use it in exchange for a commission on whatever you make. That would be a great business opportunity if you already have some experience cutting or styling hair.
5. Fashion Design:
In this business, you don’t need a lot of money at first. You only need some sewing skills and a handful of materials. You can then start designing clothes for people in your neighborhood or at events such as weddings, birthdays, anniversaries, etc.
6. Computer services business:
Many people need computer-related services providers but don’t see them often in their neighborhood. You can open a small computer repair center and be providing these services. You can make a lot of money in this type of business. Services you can offer include:
- Computer repair
- Data recovery
- Data entry
- Web design and development
7. Cleaning services business:
This is another simple start with little or no money; all you need are some cleaning materials, and you can get started immediately. With this kind of service, there’s so much potential for growth because most people don’t have time to clean their homes or offices. You can also specialize in a particular type of cleanings, such as window cleaning or carpet cleaning.
8. Tech Businesses:
Technology businesses are very lucrative in Nigeria. For example, you can start a website design and development company for 50k or less. You can also create a digital marketing company, graphics designing company, and so on. These businesses are very profitable in Nigeria because it has a lot of demand.
9. Car Wash:
For a long time, car wash businesses have been one of Nigeria’s most popular small enterprises. The demand for car wash has always existed, and anybody, at any age, may open a car wash business. It only requires an open place, a tank, and liquid soap.
10. Blogging:
If you can write or have the talent to learn how to create, you may start a blog on a topic of your niche. Blogging has grown in popularity as an easy method to establish an internet business. If done correctly, blogging is both popular and lucrative, and even modest amounts of money are sufficient to get started. All you need is access to the internet, excellent research abilities, a laptop, and plenty of time. Create a free wordpress.com or blogger.com blog. Set up your blog on your server if you have the means instead. Make money by providing helpful content, getting people to read it (generate traffic), building their trust to make money.
11. Graphic Design:
This business can get established with very little money. All you need are some basic graphic design skills and the ability to use various software programs for creating graphics. You can then start a graphic design business by designing graphics for people in your neighborhood or community. This business can grow into a full-fledged graphic design company with hard work and dedication.
12. Catering:
This business can be started with little or no money. All you need are some pots, pans, plates, and utensils. You can then start making different types of food and selling them to people in your neighborhood or at events. This business can grow into a prominent catering company with hard work and dedication.
13. Selling of Cosmetic Products:
There are many cheap cosmetics products that you can buy and sell in Nigeria and make money from them, such as perfumes, beauty creams, soaps, body lotions, and more. Many people use these products daily without fail, and if you have the capital to buy them in bulk, you can start a small-scale cosmetics business. You may also want to consider starting an online store where people can buy your products from the comfort of their homes.
14. Event Planning:
This is another business with a lot of potential for growth in Nigeria because Nigerians love to celebrate. With some creativity and organization skills, you can start an event planning business and make a lot of money from it. You can plan all events, such as weddings, birthdays, anniversaries, corporate events, etc. And the good news is, you don’t need much money to start it. All you need is constructive planning skills.
15. Recycling:
A recycling business can get set up with very little money in Nigeria. All you need are some containers to store the recycled goods and a vehicle to transport them. You may sell recycled materials or produce new things from them, such as furnishings, jewelry, and other items. This is an excellent method to reduce waste while also generating income.
16. Agricultural Business:
Agriculture in Nigeria has grown over the years, but it remains a very lucrative business. You can start a small-scale agricultural business by planting some crops in your backyard, or you can go into large-scale farming. There are many types of agriculture that you can venture into, such as crop farming, livestock farming, poultry farming, etc.
17. Food Processing: This is another business that you can start with less than 50k. All you need are a few pots and pans, some ingredients, and a space to cook the food. You can then start cooking different types of food and selling them to people in your neighborhood or at events. This business can grow into a giant food processing company with hard work and dedication.
18. Real Estate Agent:
You can start this business with less than 50k. All you need is a piece of basic knowledge about houses, land, property, and most importantly, how to convince clients to buy from you. As a real estate agent, your work is to referee people that want to buy a landed property to your agency and get a commission when the deal is done. With hard work and dedication, this business can grow into an investment company to manage other people’s properties for them.
19. Event Photography:
You can start this business with very little money. All you need is a camera and some photography skills. You can then start taking pictures at events such as weddings, birthdays, anniversaries, etc., and selling them to the people who attended the event. This business can grow into a full-time photography business with hard work and dedication.
20. Mobile Phone Repair:
All required to get started in this business are a few basic instruments, such as screwdrivers, soldering iron, rework machine, and some understanding about mobile phone repairs. You may then begin repairing people’s cell phones. This company can develop into a full-fledged mobile phone repair firm with hard work and dedication.
21. Cake Making:
This small business doesn’t require a lot of money to get started. It would be best to have some basic baking abilities and a few ingredients to work with. You can then make cakes for people in your area or at events like weddings, birthdays, anniversaries, etc.
22. Tutoring:
This is a low-cost business that you may operate with little capital. All you need are some fundamental understanding of how to instruct and the ability to deliver instructions in a simple, straightforward manner so that others comprehend what they are supposed to do. Then, if you want, you can begin teaching children in your neighborhood or online.
23. Accounting:
This is a business that you can start with very little money. All you need are basic accounting skills and the ability to keep track of people’s finances. You can then begin an accounting business by helping businesses and individuals keep track of their finances.
24. Personal Training:
This business can be started with very little money. All you need is some basic knowledge about personal training and motivating people. You can then start a personal training business by helping people lose weight, get in shape, or improve overall health. With hard work and dedication, this business can grow into a full-fledged unique training company.
25. Carpet Cleaning:
This is a business that you can start with very little money. All you need are some basic knowledge about carpet cleaning and the ability to clean carpets properly. You can then start a carpet cleaning business by cleaning carpets for people in your neighborhood or community. This business can grow into a full-fledged carpet cleaning company with hard work and dedication.
26. Personal Chef:
This is a business that can be started with very little money. All you need are some basic cooking skills and the ability to cook different types of food. You can then start a personal chef business by cooking food for people in your neighborhood or community. This business can grow into a full-fledged personal chef company with hard work and dedication.
27. Pet Sitting:
This business can be started with very little money. All you need are some basic knowledge about pet care and the ability to take good care of pets. You can then create a pet sitting business by taking care of pets for people in your neighborhood or community. This business can grow into a full-fledged pet sitting company with hard work and dedication.
28. Personal Shopper:
This is a business that can be started with very little money. All you need are some basic knowledge about fashion and the ability to shop for clothes. You can then start a personal shopper business by shopping for clothes for people in your neighborhood or community. This business can grow into a full-fledged personal shopper company with hard work and dedication.
29. Virtual Assistant:
This is a business that can be started with very little money. All you need are basic computer skills and the ability to do administrative work. You can then start a virtual assistant business by doing administrative work for people in your neighborhood or community. This business can grow into a full-fledged virtual assistant company with hard work and dedication.
30. Interior Design:
This is a business that can be started with very little money. All you need are some basic knowledge about interior design and the ability to decorate rooms properly. You can then start an interior design business by decorating rooms for people in your neighborhood or community. This business can grow into a full-fledged interior design company with hard work and dedication.
31. Child Care:
This business can be started with very little money. All you need are some basic knowledge about child care and the ability to take good care of children. You can then start a child care business by taking care of children for people in your neighborhood or community. This business can grow into a full-fledged child care company with hard work and dedication.
32. Landscaping:
This business can be started with very little money. All you need are some basic knowledge about landscaping and the ability to landscape correctly. You can then start a landscaping business by landscaping for people in your neighborhood or community. This business can grow into a full-fledged landscaping company with hard work and dedication.
33. Web Design:
This is a business that can be started with very little money. All you need is some basic knowledge about web design and making websites properly. You can then start a web design business by creating websites for people in your neighborhood or community. This business can grow into a full-fledged web design company with hard work and dedication.
34. Social Media Marketing:
This is a business that can be started with very little money. All you need is some basic knowledge about social media marketing and the ability to market on social media correctly. You can then start a social media marketing business by marketing on social media for people in your neighborhood or community. This business can grow into a full-fledged social media marketing company with hard work and dedication.
35. Videography:
This is a business that can be started with very little money. All you need is some basic knowledge about videography and making good videos properly. You can then start a videography business by making videos for people in your neighborhood or community. This business can grow into a full-fledged videography company with hard work and dedication.
36. Voice Assistant:
This is a business that can be started with very little money. You will help people with their tasks both in Nigeria and anywhere globally. You can expect to be asked to do the types of things: make a phone call and set up appointments, send emails, write thank you notes, or even call a friend.
37. Dog Walking:
This is a business that can be started with very little money. All you need are some basic knowledge about dog walking and the ability to walk dogs properly. You can then start a dog walking business by walking dogs for people in your neighborhood or community. This business can grow into a full-fledged dog walking company with hard work and dedication.
38. House Sitting:
This is a business that can be started with very little money. All you need are some basic knowledge about house sitting and the ability to sit houses properly. You can then start a house-sitting business by sitting houses for people in your neighborhood or community. With hard work and dedication, this business can grow into a full-fledged house-sitting company.
39. Handyman:
This is a business that can be started with very little money. All you need are some basic knowledge about handyman and the ability to fix things properly. You can then start a handyman business by setting stuff for people in your neighborhood or community. This business can grow into a full-fledged handyman company with hard work and dedication.
41. Lawn Care:
This is a business that can be started with very little money. All you need are some basic knowledge about lawn care and the ability to take care of lawns properly. You can then start a lawn care business by taking care of people’s yards in your neighborhood or community. This business can grow into a full-fledged lawn care company with hard work and dedication.
42. Personal Chef:
This is a business that can be started with very little money. All you need are some basic knowledge about cooking and the ability to cook properly. You can then start a personal chef business by cooking for people in your neighborhood or community. This business can grow into a full-fledged personal chef company with hard work and dedication.
43. Plantain Chips:
Plantain chips are fried crisp that is made from ripe or unripe plantains. It’s a moneymaker that needs little to no upfront investment, with a slicer, plantain, groundnut oil, stove & frying pan or pot, sealer & excellent packaging required. You may distribute it to schools, shops, businesses.
44. Jewelry business:
You can start a jewelry business with $50,000 or more if you’re willing to take a chance and risk theft and other problems. You may obtain jewelry from a wholesaler and sell it at a retail price to make your money. Starting with $50,000 might mean that you don’t have a physical location; instead, you offer yourAs a result, you’ll be able to sell products on the internet and to people all across the world. You may invest more to begin bigger, and you can start with drop shipping. With as little as 50,000, you can establish it for packaging and branding using drop shipping.
45. Dry cleaning:
Many individuals in Nigeria, particularly those with hectic schedules, choose to use a dry cleaner since they are unable on their own to clean their clothes. They outsource that portion of their life to a dry cleaner. The dry-cleaning industry is expanding every day, and with 50k, 100k, and more, you can start a dry cleaning business.
46. Recharge card business:
In Nigeria, hundreds of millions of people use recharge cards with various values. Although the profit per unit voucher appears minor, the modest gain will quickly add up and become a significant sum compared to how much money is spent on it (i.e., the quantity). You may start this business with as little as 50k.
46. Point of sale(POS):
The Point of Sale (POS) service refers to an agent that provides money transfers and withdrawals, sales of airtime, bill payments such as GOTV, DSTV, Startimes, IBEDC, and other utility bills. It is more lucrative in areas with no banks or few ATMs. You may begin this business with 50k.
47. Bead making:
This is a lucrative business that you can start with little money and make a decent living. All you have to do is have the skills. You may set up your bead-making and wirework in your room and earn enough sales using various marking methods to start this company with as little as 50,000.
48. Forex trading:
Buying and selling foreign currencies is known as currency trading. This industry is highly volatile, and there are a lot of risks. To minimize loss, you’ll need excellent trading abilities and knowledge of the market. You can always generate money in the Forex market with just 50k, but learning is crucial to avoid regretting having started it.
49. Popcorn Production Business:
You may start a popcorn business in Nigeria with little money and make a substantial profit. The ideal location for a successful popcorn manufacturing company in Nigeria is important. You’ll be able to sell enough popcorn to break even and make profits if you have a friendly environment. A popcorn maker, a nylon sealer, and corn are all you need to start a lucrative popcorn business in Nigeria. Let’s look at how much it’ll set you back to start a popcorn company in Nigeria.
50. Noodle Stand:
Establishing a noodle stand is a highly lucrative business in many parts of the area. All you need to start this company is a gas or kerosene stove, seats for clients to sit and eat, and, most importantly, a high-traffic location. The most typical noodles-and-egg dish costs around 350 Naira. Two packs of noodles and one egg are included in the plate of noodles. Smaller bundles of noodles cost 60 to 70 Naira, while an egg costs 50 Naira. When you include expenses such as kerosine or gas, a cost price of 190
Conclusion
There is no limit to the number of businesses you can start with 50k or less in Nigeria. However, the above list would help you choose the business that best suits you. There are many other businesses you can start with 50k or less in Nigeria. For example, you can start a transportation business, mechanic, event planning business, and so on. These businesses are very profitable in Nigeria, and you can make money from them quickly.
