Business To Start With Less Than N20,000 in 2024

Business Ideas To Start With Less than N20,000 In Nigeria
Whether you have a 9-5 or a student looking to start a side-hustle or want to go into a new low-risk business, regardless of the category you fall into. You can put aside some money and start any of these 5 business ideas:

1. Data Reselling Business: This is the quickest and cheapest business to start in Nigeria and make huge profit within a short period of time. Infact you can start with as low as N2,000 and make big profit. You only need to go to MyData Factory http://www.mydatafactory.com.ng and register. Registration take about a minute. You upgrade your account as Agent and fund your account with any amount you have starting from N1,000 and above, do a small banner like this ‘Buy your cheap Data here MTN 1GB =N240. When you have customers you log in to your dashboard on http://www.mydatafactory.com.ng and input the phone number of that customer and select the Data size. As agent Data Factory will give you the lower price which you sell at your own price. Any other user who want cheap data can also visit the site. The site is one of the website that offers extremely cheap data.
2. Okrika Business
   Thrift, Okrika or bend down select business is highly lucrative, especially among students and young people. People love thrift clothes because they are affordable and sustainable, and many gems can be found while thrifting at a low cost.

With N20,000, you may start a thrift enterprise. All you need to do is studies the best marketplace to get affordable, good-first-class clothes to resell. The famous markets in Lagos to buy clothes from are Yaba market, Balogun marketplace, Oshodi market, Aswani market, Katanga Market, and so on.

Also, some of those markets have unique days where you may get less expensive deals. Generally, the primary days to get good excellent clothes in Lagos markets are Mondays, Wednesdays and Fridays. While days for discount prices are usually Tuesdays, there may be also Yaba night time market.

After shopping for a bale of cloth, spend money on branding materials, set up a web store, and start promoting. With all these, you are set to begin calling yourself a business owner. Well done, it isn’t easy.

3. POS/ Agency Banking
   Point of sale (POS) provides offerings that help us effortlessly withdraw and send funds. Becoming a POS agent is gaining traction fastly in Nigeria, especially in areas where a commercial bank or an ATM isn’t easily accessible. It’s also profitable. Generally, an agent makes N100 for every N5,000 naira a person withdraws. What a groovy way to make cash!

To get started, you need to get the POS device which is usually for N15,000, and you start transacting with any amount of money you like.

4. Accessories Business

This is some other low capital, high reward business. I’m not relating to selling real gold or diamonds, extra like non-tarnish steel add-ons. There’s already a market for this; people love to be adorned with beautiful, suitable, excellent accessories that might not cost them an arm and a leg. Basically, looking excellent on a budget.

In Lagos, there’re wholesalers in Balogun Market, China Town or any other markets. You can purchase without delay from or ship the accessories from online retail services like Aliexpress. With the skyrocketing exchange rate, this may not be advisable. It’s often exceptional to stick to a dealer to make sure the quality of what you’re getting. You also can get discounts for being loyal to your dealer.

5. Perfume oil

For individuals who can’t have the funds for excessive-end perfumes, fragrance oil serves as an alternative or enhances the other scents they use.

As usual, you don’t need an excessive amount of money to set up this enterprise. In fact, you may not even spend as much as N20,000 while starting. You can get a supplier to shop for from, or you can make them yourself..

6.Finger Foods/Pastries
Do you adore spreading joy with your love for cooking or baking? Then, you can monetize this passion of yours into a profitable enterprise.

You can start this enterprise in the comfort of your home. Be it small chops, chin-chin, smoothies, zobo, cupcakes, bread, cocktails, and so much more. There’ll always be an audience ready to patronize you. You’re good to go together with brilliant service, right branding, and promotion.