Low Cost Business Ideas in Nigeria

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Is there anything more Nigerian than starting your own business?

With huge success stories of entrepreneurs around the World, and particular in Nigeria, Nigerians see what a good idea and hard work can accomplish. Nigeria is blessed with lots of business opportunities, and many regularly hear that independent streak calling them but are afraid to take a step.
In the first quarter of 2015, the unemployment rate remains around 7.5 percent, that means that many Nigerians have been unable to find a full-time job with an employer, so they may be looking for ways to earn a living on their own.
That is, about 17.7 million people, aged between 15 and 65 are either unemployed or underemployed in the labour force in the first quarter of 2015.

Is there anything more for you than starting your own business?

Starting a business  in Nigeria, especially at this present tough economic condition can be challenging. It’s like a long hard slog, and statistically your new business is destined to fail. But starting is only a problem you will face if you already have a business idea.

Whatever you wish to do; whether you want to make some money on the side, run something from home, or create the next big thing, here’s a list of some successful business ideas that will get you thinking. Most of these businesses can be started on a low capital.

  •  Domestic Service Businesses

These are great businesses that are easy to start without any setup cost. If you are willing to serve others, then there are many untapped opportunities for you in this area.
 Some examples of domestic service businesses include: 

  1. Contract Cleaning
  2. House Cleaning
  3. Furniture Repair
  4. Lawn Care
  5. Carpet and Furniture Cleaning
  6. Specialist Commercial Cleaning
  7. Disaster Restoration Services
  8. Catering Services
  9. Personal Chef
  10. Childcare
  11. Painter/Decorator
  12. Gardening Services
  13. House staging

 Domestic services offers opportunities to entrepreneurs who are motivated and energetic.

  •  Professional Services

On the surface, a professional service-based business may seem so easy to starting . You may have the required skills to deliver high-quality work and results to your prospective clients, so you set up a nice website and spread the word among your contacts that you’re looking for clients.

But starting a business, especially a service-based business, may not be that “easy” as it seems. You might need to spend long hours, face difficult clients, contend with frustrating projects, and many other obstacles along the way. But if you can persevere; the rewards far outweigh the challenges you’ll face along the way.

Below you will find a list of some profitable service-based ideas that you can start as a professional.

  1. Accountant
  2. Financial adviser
  3. Architect
  4. Business consultant
  5. Lawyer
  6. Tutor
  7. PR (public relations) services
  8. IT support
  9. CV/resume writer
  10. Proofreader
  11. Recruiter/headhunter
  12. Photographer
  13. Videographer
  14. Fundraiser

In starting, you might not need to take on any investors, bank loans or order products. This will allow you to scale your services as you grow. A service business is much more flexible and adaptable than a product-based business. In addition, you can work whenever and wherever you want, you can also easily make adjustments and tailor your service to suit  your client’s needs.

  •  Online Business Opportunities
    There are plethora business opportunities online for enterprising Nigerians. Nigeria is peculiar; its people, economy, culture, food, language, religion, and host of other things differs from other countries, and that makes the country unique. Therefore, Nigeria deserves peculiar services, tailored to suit the Nigerian people. Naturally, these online business possibilities are pretty much endless. 
    Put simply, if you have a specific skill set or just a good attitude, you can be making money online within about half an hour just providing the right information. Here are profitable online businesses that any Nigerian, with the right mind, and internet connection that easily start from home.
    1. Affiliate marketing
    2. Drop-shipping 
    3. Virtual stores
    4. Blogging
    5. Copy writing
    6. eBook Creation 
    7. Generic freelancing
    8. Transcription services
    9. Starting an agency  service
    10. Make and flip apps 
    11. Training services
    12. Virtual assistance
    13. Buy and sell domains 
    14. Holiday rentals services
    15. Selling photographs 
    16. Market research services
    17. Become a YouTube celeb 
    18. Webinars

    Before you get started, do more research about the particular online business idea that interest you. Build a social media presence and do some SEO to get organic traffic.