In Nigeria, the cost of starting a small business or startup company is high, especially as the Nigerian economy as a whole is currently in uncharted territories. So what types of a business can you start with $1000 or less in Nigeria? Recently thanks to technology, the internet has made starting a business or startup company easy, affordable, and possible.
All you now need to start a company online is a phone, a computer, an internet connection, and a good business idea as long as it can help the way people live their lives. If you don’t have a business website you can register a website with any of the best hosting companies. However, the website issue can still come later in the future.
I always say that the biggest challenge, however, is coming up with a successful small business or startup company idea. Another vital step is to write a successful business plan. To say taking the time to draft this will help you counter the challenges to come later, will be an understatement. We can only hope that the economy will get better. However, make sure you don’t make the mistake that many new small business owners make by rushing into things without pondering about the best business plan that the rising inflation in Nigeria will not defy.
10 Great Small Business Ideas in Nigeria
So what good small business idea can people like students, civil servants, and even the uneducated succeed in? These are the best 10 business ideas for entrepreneurs in Nigeria. I can vouch for any of these successful business ideas:
1. Private Teacher
There are millions of kids in the country and parents no longer wish to rely on teachers at schools to teach their kids alone. Thus, the importance of hiring private teachers for their kids can’t be neglected by parents. We see the value of private teachers skyrocket during the pandemic. There are private tutoring services or remote teaching platforms you can register on as a teacher, and the fun part of it is that these lessons are usually taught after school hours or during weekends when you are free from your regular work, so that way you don’t have to worry about your regular daytime job being affected.
2. Content Creator
The demand for content creators has created the opportunity for entrepreneurs to operate within flexible hours. As stated above, social media platforms have created the perfect window for creative creators to make more money. The success rate in this industry cannot be denied. You can now work as a freelancer on social media and work as a blogger, graphic designer as well as an author or writer, and create quality content. Some organizations pay freelancers in their referral programs, all you have to do is share your content that promotes their products on media outlets like Facebook, YouTube, LinkedIn, or Instagram and you get paid. So why not earn extra cash?
3. Virtual assistant
As workloads in companies increase, most companies now rely on virtual assistants with good skills to carry out tasks. You don’t even have to be in the office or onsite working from 8 am to 6 pm. Also, you can carry out these tasks from home and earn from different clients at the same time. All you will need are a computer, a good internet connection, and the skills that businesses will need.
4. Event catering
People nowadays don’t have the luxury of time to Plan events like naming ceremonies, wedding ceremonies, and anniversaries. Should you be willing to assist in this capacity, clients are willing to pay for your services. To succeed in this field, experience is essential. So before you launch your event-planning business, I will advise you to first learn from an expert who is knowledgeable in organizing and planning birthday parties, weddings, and anniversaries or reunions.
5. Cleaning services
There are different types of cleaning services businesses such as commercial cleaning, residential cleaning, special cleaning, and vehicle Cleaning Services. You can choose the type of cleaning services business that suits your expertise, skills, and pause. I can tell you boldly that this business niche has huge potential for profits. You and your clients can agree on when you will render your services, that is, the days and times. Residential cleaning in most takes place one or few times per week, while commercial cleaning is usually done daily.
6. Errand service
A major concern for new business owners is how to build their business website. The good news here is that you don’t need a business website to start an errand service business. You just need the zeal to take care of simple errands like walking kids to or from school or grocery shopping. I usually recommend this to students who need to earn extra cash.
7. Professional reviewer
The startup costs for being a professional reviewer are low and being a professional reviewer brings in substantial revenue. Every organization needs good reviews. So before their products hit the market, companies provide their products in a products professional reviewers and get honest feedback, (whether positive or negative) on that product. That way the company can make adjustments and make the product better before pushing it into the market. These companies will pay for your reviews. So why not try out new products while also getting paid for doing so?
8. Digital marketing services
If you have the skills to promote the buying or selling of products or services on behalf of a company, then I highly recommend starting a digital marketing company. All you have to do is advertise and sell products to buyers.
If you don’t have a background in marketing but are interested in the field, you can take affordable online courses to develop your skills. One of the best yet most challenging things about marketing is that it is always evolving. Therefore, if you have a knack for storytelling and learning, a digital marketing firm is a business you can start quickly and cheaply. If you don’t have a business website you can register a website with any of the best hosting companies.
9. Affiliate marketing
This is just like digital marketing which also involves promoting other companies’ products. Only when it comes to affiliate marketing, do only get paid a portion or commission of the profit made after the product has been sold through your affiliate link or generated lead. If you don’t have a background in affiliate marketing, you can always take online courses to build the skills needed.
10. Website developer
Why should you have a website or a blog and not make money through it? This is a business field that is easy and cheap to start, and there are many ways to make money here. You can help companies build websites or you can promote specific products and services for companies. Just make sure you have a lot of traffic to your website and get visitors to purchase the products through your affiliate link.
CONCLUSION
You don’t need a business website to start any of the above businesses, though a business website will be an added advantage. In some of these businesses, no physical office is required, however, having a good business location where you can work better will be a good thing.
