The advent of the internet has changed the way we do business. Today, there are so many businesses to start online that didn’t exist some years back.
Have you been looking for online businesses to start with N50,000? Are you in search of a new stream of income? Then you should read this post. We will show you some interesting businesses that you can begin with N50,000 or less.
Why you should engage in online business
Just like you, many entrepreneurs are wondering why they should invest in an online business. After all, we are used to doing regular business in a physical meeting place for customers and vendors.
There are several reasons why online businesses are more appealing these days. They don’t come with the hurdles that we experience when starting new physical businesses. Here are some reasons why you should consider engaging in an online business:
Incredible scalability
Let’s face, not all online businesses will become empires in the nearest future. However, it is easier to scale online businesses than brick-and-mortar. This is because there are very few restrictions. All you need is a viable advertising and marketing strategy.
Limitless freedom
This is one of the biggest advantages of online businesses. There is so much freedom allowing the entrepreneur to work from any location as long as there is the internet. This is quite empowering but can be a pitfall if there is a lack of discipline on the part of the entrepreneur.
Low overhead costs
Starting an online business is never as costly as starting a brick-and-mortar business. Firstly, you don’t have to pay for a shop or office and you don’t need to furnish the business location. All you need is a smartphone or computer, the internet, and a few other items peculiar to the business.
Worldwide reach
Of all the benefits of engaging in online business, this seems to be the most interesting. There are no boundaries between countries. With a proper strategy, you can build followership and engagements across continents.
Online Business Ideas that you can start with N50,000
Now, let’s discuss the crux of this post. Note that some of these business ideas may cost lower or slightly higher depending on your location.
Content creation
For most people, creating content has to do with writing articles or running social media posts. Far from it. Content is an integral aspect of our daily lives. As such, it keeps us informed, entertains us, answers questions, and guides decisions.
Creating content involves generating topic ideas and creating visual or written content around such ideas. These ideas should appeal to your audience and they should be easily accessible as well. Examples include videos, infographics, blog articles, social media skits, etc.
Content creators are in high demand these days by companies. This is because they help in advertising different products and services. Are you good at content creation? Then tap into this interesting business opportunity.
YouTube Channel
YouTube is the biggest video resource in the world. Do you know that at least 500 hours of video are uploaded to this platform every minute? In a day, people watch more than 1 billion hours of videos on YouTube.
Now, try calculating all of that in monetary terms. All you need to run a YouTube channel is a computer and a phone with a good camera. You probably have these already so technically, you’re spending less than N50,000 to begin.
Simply decide on your niche and start shooting videos. Create a posting plan and make sure that you understand how to publicize your channel using social media.
Social media management
We are in an era where every business needs social media to thrive. It doesn’t matter if the business is a roadside shop or a huge conglomerate. Because of this, many businesses outsource their social media management.
This is where you come in. Are you good at handling social media? Do you love to spend your free time on social media? Then you can dive into this business.
Some companies pay as much as 50k to handle their social media with just a few posts per week. You may even earn more if you run daily posts across several platforms. All you need is your mobile phone, an understanding of the social media space, and the internet.
Freelance writing
Do you have a knack for writing? Then you can put your writing skills to good use. Start earning by signing up on freelance websites such as Guru, Upwork, Fiverr, etc.
Several companies are looking for good copywriters to help meet their writing needs. Examples of such writing needs include crafting emails, preparing whitepapers, writing web content, etc. All you need for this business is a laptop or smartphone and the internet.
Social media influencer
If you are good at creating content, then you can grow your followership and become an influencer. You must have heard of the many influencers we have in Nigeria and other parts of the world.
All these guys do is create or post interesting content to keep their followers glued to their pages. The more followers they have, the more likely it is for big companies to contract such influencers. As a social media influencer, you can earn money from running adverts for businesses on your social media pages.
Graphic design
We have talked a lot about the use of social media in this post. But it is almost impossible to work with social media these days without the use of graphic design. If you are good at graphic design, then you can take advantage of this opportunity.
You can even add this to your portfolio as a social media manager. That’s an extra income for you. You don’t have to be a pro to become a graphic designer. There are several apps that you can download to your phone to make designing easier.
Wrap-Up
There are so many other online businesses that you can tap into. It all depends on what you love to do. What other ideas do you think we left out? Drop them in the comments section below.