5 Lucrative Small Businesses You Can Start In Nigeria In 2023
Starting a business in Nigeria often seems like a herculean task as many people are faced with the challenge of no capital or lack of ideas. To eliminate that issue, this article will introduce small scale business ideas which are very profitable in Nigeria.
CorrectNG has compiled a list of five businesses anybody can start in 2023.
This business idea comes highly sought after in the area of non-skilled labour. This is a very profitable venture as one can make millions by running a cleaning service as private companies, banks, and personalities often outsource the cleaning of their environment.
If you do not have money to establish a house/office cleaning business you may need to start small by rendering services to the homes of private individuals before you rise to the level of being contracted by companies. With the growth of your company you employ staff to work for you or with you.
A data reseller is simply is someone who buys data bundles from registered network providers in the country and sells them to consumers. You buy purchase the bundles from firms like Airtel, MTN, GLO or 9mobile in bulk then resell them in small quantities.
Starting this business can be done with as little as N2000, and it is profitable. To be a data reseller you first have to register with telecommunication or a VTU platform and fund your account.
ONLINE FOOD VENDOR
Becoming an online food vendor is similar to running a catering business because it is primarily tapping into the profitability of providing a basic human need – food. Many people like to get something to eat without necessarily leaving their rooms or houses. As an online food vendor, this is where you have an advantage because unlike restaurants or food trucks, customers do not have to stress themselves by going out to eat as the meals can be easily delivered to their doorstep.
To start a online food vending business in Nigeria you it can be done from your home so you may not need to rent a shop or space. It is important to note have good coking skills and love preparing a variety of meals seeing as you will be required to cook good tasting meals regularly. With as little as N50,000, you can start this business.
ONLINE ADVERTISING AGENCY
This is one of the most low cost and highly profitable businesses that exists in Nigeria or anywhere else in the world. Being that we are in the age of digital advancement, more and more establishments are creating online presence for their businesses to leverage the massive community of Nigerian internet users.
The influx of businesses to the social media space created opportunities for a the field of digital marketing to emerge. To tap into the trend of making money through online branding, marketing and promotions, you can start an online advertising agency in Nigeria.
In 2022, alone what was spent on online advertising globally amounted to $567.5 billion. Setting up an internet advertising agency in Nigeria, you would need at least N100,000.
As lucrative as drop shipping is, it is also simple to coordinate. Drop shipping is simply the act of selling goods on your website that you don’t keep in stock. When you receive an order you send that order to another company to ship the goods directly to the buyer. As a middleman, you get to charge a higher price when someone places an order. A drop-shipper keeps the profits from the high sale price.
You are also afforded the unique opportunity of running your own online shop without having a warehouse or any products.
A simple step to follow is to open an online store, copy the inventory from manufacturers or site and place them in your online shop. When someone orders, you will buy it on their behalf and have it shipped to them and you get your money.
There are opportunities abound in the business world, if you are unemployed in Nigeria and looking for what to do whether you have funds or not, it is advisable to find your niche – what you are good at, what you can do, the areas you feel you can excel in and take a risk after all many of the billionaires became rich through business.
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