The post is about 20 business ideas you can start with N100k or less in Nigeria in 2023. Entrepreneurship is the focus of many Nigerians now that there is a massive unemployment rate in the country. So many youths are searching for cheap business ideas in Nigeria, top businesses to start in Nigeria with low budgets, and similar queries.
Some of you have little cash with you but lack business ideas on what to do with the cash and how to grow the cash but this business idea will guide you through which of the businesses you can start.
Top 20 Business Ideas To Start With Less Than N100k in 2023
1. Bedsheet/Beddings Production:
Pay a visit to Lagos Island, or Oshodi where they sell bulk materials, pick good designs and there are guys who will sew it for you within the same market. You can start with less than 100K and diligently grow your money.
2. Shirt Production:
A sweet side hustle. There are tailors in Lagos Island or the environs or you can better learn the skill it will save you all the heartbreaks imaginable. Taiwo street in Lagos Island is where you should be. Materials ranging from N700 – N1000 per yard, sew for N1500/2k and sell for N5000 – N7000
3. Aba Market:
Schedule a trip to Aba Market, The cost of production of boxers, you can get one for as low as N300, all you need is to package it in 3s, and market these babies properly or better still beg your friends on Twitter for RTs, we men buy 3s pack boxers for N1500-N2500… You can sell yours a little lower than that and gradually grow your profit.
4. E-Payment and POS Business:
You can get a POS Machine from your bank and activate online banking: if you live in a place where banks aren’t much you can handle e-payments for people and make your small change. I paid someone N200 to withdraw 10k in Ikorodu. The ATM queue was crazy.
5. Mobile and Electronic Accessories:
Pouches, Chargers, USB cables HDMI cables, earphones, and more can be sourced from Alibaba, AliExpress, Deal Extreme, etc. I once posted something related to that a few years ago here. The more you buy the lower the price. And they are lite so shipping won’t be a burden. You can sell it on Jumia or Instagram etc.
6. POP Corn:
We all know this guy, we buy every time… Bags of corn, branded Nylon, sugar, salt, and butter. The beauty of this is when properly made, the aroma will attract its customers.
The manual sealing machine is sold for 7/9k, the popcorn machine on Jumia is sold for 65k, and remember that everybody likes popcorn.
7. Snail Farming:
In Nigeria, snail farming is more popular due to its relatively cheap cost of startup and if you market your products well, your business will thrive. This is a business you can start from your backyard, they have millions of eggs but patience is required as it can take almost a year to mature. I can link you with someone who can guide you through in this if you are interested.
8. Fairly Used Clothes:
Such as Jeans, Tops, t-shirts, shoes, etc. They could be sourced at Badagry, even Cotonou. 100K can’t get you a bale but you can select and mix them. Wash them and package them neatly. Good packaging will bring you more customers… hence you’ll see your money multiply.
9. Cleaning Services:
Some workers are so busy throughout the day that they find cleaning their apartment burdensome, and even their weekends are all engaged. You can simply engage in this service and make money from it. The more apartments you clean during the weekend, the more money you make.
10. Home Cooking and Delivery:
Most especially for our ladies or housewives or guys who love to cook. You can cook a variety of meals well, and apply customer service. People will pay good money for your services. You don’t even need a store to start. You can run it from your home.
Marketing your services on Twitter, Facebook, Tiktok, and Instagram will get you your first 100 clients.
Remember that first impression count.
11. Digital Marketing:
the success of any business is in the ability to effectively reach its teeming customers… and this can be achieved via effective marketing. Get a used laptop and smartphone; temporarily your smartphone can act as your hotspot. Passion and persistence is the key.
12. Internet Services:
Forget the extensive coverage of the internet and the fact that people can assess it on their phones; do you know how much applicants pay just to have Jamb applications filled online? You need a good system, printer, and ISP. People as much as 1k per application.
13. Production of Zobo, Smoothies, cocktail, small chops, cupcakes, and chinchin.
The importance of this combo can’t be ruled out. You can render these services with 100k startup capital + proper marketing, branding, and packaging.
14. Cakes and Confectionery:
This is one business that always comes to play when people celebrate birthdays, parties, or weddings, and guess what, bakers are always consulted. You’ll do well if you can acquire skills in this area. I know of a celebrity baker who only bakes for celebrities.
15. Aso-Oke Beading:
Aso-Oke Beading and Stoning has become sometimes in vogue now, and this is another sweet business one can start with 100k. You just have to learn how to bead and unlock your creative mind.
16. Bead Making:
I’m not sure there’s really much to say here. All you need is training, passion, creativity, unique designs and styles, then adequate marketing. You absolutely don’t need 100k to start this.
17. Home Service Barber:
This is another profitable small-scale business. The beautiful thing about this is you bring your services to your clients for an extra token above regular. The starting capital to get the equipment and I’m sure you know we have rechargeable clippers.
18. Tutorial Classes:
No matter your age, this is another well-paying job, either part-time or full-time. Many families are willing to spend what it takes for their children’s success and there’s one subject you’re well versed in. Just close the gap, and meet their need for a fee.
This is most common in Abeokuta Nigeria where you can get one adire for N2000 and sell for N5000. Guys/ladies use it to sow befitting dresses, stylish dresses, etc. You can even act as a mini supplier to tailors and other people who wish to resell them.
20. Re-invest your seed capital in an existing business:
Not everyone has the head for business but they can sniff opportunities. You can always sow your money as operating capital and draft an agreement on profit sharing. Credit to Twitter user bode_lanre.
I hope this post is of great benefit to you. Help and share it with your friends on social media.
Also if you have any questions, use the comments box to ask and I will attend to you ASAP.