Would you like to know the cheapest business ideas in Nigeria? One factor that is hindering so many individuals from going into business is capital. Even existing businesses find it difficult to scale up because they lack the capital to do so.
If you are thinking of starting a business and you are worried about funds, then you should read this. There are several business ideas that you can work on that don’t cost so much. We will look at six of the cheapest business ideas to start in Nigeria in this post.
Cheapest Business Ideas
Nigeria has the largest economy in Africa. When one considers the population of Nigeria alone, we should have thousands of thriving businesses. Interestingly, many people want to go into business but they can’t. The major reason is the significant costs associated with starting a business. However, there are many businesses you can launch today with little or no funding. All you need is dedication and some good old-fashioned hard work.
Freelance Writing Business
It’s very possible to become either a full-time freelance writer or a part-time freelancer in Nigeria. Either way, you could earn good money from the couch in your living room. Even if you don’t want to earn from it, you can simply do it for fun.
There are several platforms that you can sign up to. Some of them include Fiverr, Upwork, Guru, Freelancer, etc. Each of these platforms gives you the opportunity to earn from home and work with multiple employers.
Popcorn Production Business
Snacks help us to satisfy hunger between meals and also meet up our daily energy needs. Popcorn is one of the best-selling snacks in Nigeria. People eat it in their homes, along the road, in their shops, vehicles, and even in cinemas.
You don’t need a shop to start popcorn production. All you need is an exposed space. You can even prepare your popcorn at home, package it, and drop it at stores to market for you. There is no gender discrimination in this business. With the right tools, this business is totally stress-free. Also, you can make a decent daily income if you set up in a busy location.
Phone Accessories Business
Phone accessories are additional items that help you enjoy the functionalities of your mobile device. They include chargers, USB drives, memory cards, phone cases, Bluetooth devices, etc.
People have issues with their phone accessories every day, mostly chargers. This business is very lucrative if you are in a busy location. Starting this business is not costly. You can start this business with as low as twenty thousand naira. All you need is a reliable supplier of phone accessories and a stand or shop. You can get creative and start an online store.
Fast Food Business
Food is one of the essential needs of man. What this means is that the food business will always sell. Do you love to cook? Are you always getting compliments about your cooking skills? Maybe you should consider starting a fast food business.
This business doesn’t cost so much to start and you can start from your home. There are different variations of the fast food business. From running a restaurant to doing home deliveries and taking special orders. The playing field is wide, decide on what you want to do, and get started.
Iced Block Production Business
Iced block production is one of the cheapest business ideas to start in Nigeria. Just like some of the other ideas in this post, you can run this business from home. All you need is a good freezer and a source of water.
There are also affordable ice block-making machines that you can purchase. You can check them out on Jiji or visit physical stores to purchase one that you can afford. Ensure that you have access to constant electrical power or a good generator as well.
Plantain Chips Business
Plantain chips, just like popcorn, are one of the best-selling snacks in Nigeria. People eat plantain chips in traffic, in their homes, while at work, or when they are just hanging out.
You can take advantage of this huge demand and start this business. Start making your chips, package them, and add a well-designed label. Before long, retailers will start coming to buy from you every day to resell. You can start this business with thirty thousand naira.
Conclusion
That’s it for the cheapest businesses to start in Nigeria. Which one would you like to start or invest in? Let us know in the comments section.