However, many of the businesses in Nigeria require capitals, depending on the type of business you might need as low as ₦10,000 to ₦100,000 or higher to get started.
If you don't have enough capital to start a business, there are still other businesses you can engage in as a Nigerian. This is a good news for anyone that is not interested in illegal businesses.
5 Businesses You Can Start Without Capital
These are some great business ideas for anyone that wants to start a new source of income without any capital. If you have up to ₦100,000, you can check out these amazing business ideas that can make you a millionaire with only 100,000 in a little time. Also, there are some businesses that can make you ₦50,000 with an investment of only ₦10,000 in two weeks.This article is for people that don't have any capital to set up their own business. So let's get going:
- Start tutorial classes
If you are enlightened, you can make good money teaching people how to do different things. Almost any skill can be taught, from the different classroom subjects to how to cook or prepare different dishes.If you visit different Nigerian cities, you'll see many shops that people are being taught how to sew clothes, make cakes, barb hairs, operate computers and many more. Although this requires capital if you are to start yours, you can also attach with other people if you don't have enough capital to run yours.
- Become a Money Collector
This is more like a job than a business and requires honesty. You'll be in charge of collecting and saving money for people and in turn, keeping records of the transactions. Depending on the agreement, you can earn a percentage of the money you collect.Money collectors earn in three ways:
- They earn a percentage of any money they save, it can be between 5% to 10%.
- They earn money from loans they lend out to other people.
- They are entitled to prizes and benefits from banks they save
Getting started as a money collector is very easy, you just need to get a collector card for each of your customers and a notebook for keeping records of all their transactions.
Making good money fast a money collector requires a lot of hard work and like we said before, honesty. The more customers you have, the higher income you generate. You can target the market places,plazas and other business areas that are active.
You also need to be very careful while running this business since you'll be dealing directly with people's money. Avoid lending or loaning out money to unreliable individuals because it might cause a bad name to your business.
- Become an Uber driver
This requires capital because you should have a cat, but at the other end, you can also source for a car from other means. An average Uber driver earns nothing less than ₦80,000 on a weekly basis. We have already listed out 5+ best cars for Uber and you can check them out before signing up.
If you don't have enough capital to purchase a car of you choice, there are many car owners that are willing to loan out their cars to Uber drivers at an agreed cost.
While working as an Uber driver, you have to be time conscious and avoid 'African Time', you'll also have to decide when to work. Some customers will need taxis in the night wen they are done from their day's jobs, so you should be ready for that.
- Auction your old items
This might not be a regular source of income, but you still use it to make money as a Nigeria. There are many online platforms in Nigerian that you can advertise your products for free if you have any item for sale.
You should be careful while selling your items to avoid selling things you will need in the future. Make sure the items you're about to sell are things that you have replaced or sure you won't be needing.
- Be a freelance marketer for companies
You can meet brands directly and apply to be their marketer and in turn, earn commissions for items sold. One of the ways of making good money from this is by adding some money to the actual price of the items before advertising them.
You'll need to have an internet enabled phone with a good camera to be able to successfully run this business. It requires reaching out to direct consumers who would be interested in the item(s).
One of the ways you can generate sales is by advertising in online websites or free platforms.
These are just a few out of the many business ideas. What determines the success of your business is your approach towards it and not the capital. You capital might contribute to your business, but if you don't have enough capital to run a business of your choice, you can also choose from the above listed businesses.
If you use the social media, you can check out this platform that can earn you up to ₦50,000 for referring your friends, and before I forget, it's FREE to join.
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