Nigeria is a great country lacking good leaders that terminate youth financial empowerment completely while there is no good paying jobs powered by government, this has lifted poverty in the country by 20%. We have notice about 70% Nigerians want to start their own business due to lack of jobs and youth empowerment. We have put together this list of small businesses to start in Nigeria with #5,000 or #10,000 Naira.
We notice getting loan is not that much easy process if you don’t have any business of some thing that could stand as collateral for you, there for this make it almost impossible for the young up coming entrepreneurs getting loan of good amount that could empower standard business at the beginning. This list of business will help you to get started to the extend of standing big in the industry of entrepreneurs. All the business ideas listed on this post are businesses that someone can easily start with 5000 Naira to 10000 Naira
8 Small Businesses to Start in Nigeria with 5000 or 10,000 Naira
Remember it better you have something doing than begging, no mater how small your business is, it far better than begging a.k.a babi-ala. There are so many business one can start with 5k to 10k but i will be listing just few of them here which i think are more lucrative in Nigeria.
1. London Used Cloths (OKREKA)]
Okreka are cloths that are been used outside the country that where imported into Nigeria by some importers. About 48% Nigerians wore okreka but you won’t know because they are first class okreka. the facts is that you won’t be able to differentiate okreka and ready made if joined together. Many boutique in Nigeria stock their shop with okreka and sell them at higher price.
Starting this business is a good idea for lagos resident and some popular places resident. This is the most currently moving business in Lagos which the young youth venture into, and it yielding good amount of money. This business doesn’t required shop to start with if you don’t have the cash, no worries. If you have been to Lagos or live in Lagos then you should understand better why you don’t need a shop to start okreka business.
The people in this business are merely find in popular areas of lagos such as railways, All they do is arrange the cloths on top of a wide nylon or table. This business doesn’t even required full day and won’t disturb you of your other daily activities. The main appropriate time for this business to start is during the evening when workers are returning from work at (4:30pm-7:30pm).
Buying Okreka cloths set, cost from #10,000 to #20,000 and you could find more than 200 pieces of cloths inside a complete set.
The people selling this cloths sell them from the rage of #500 to 1200. Now if you have a set of cloths bought for #10,000 and find 200 cloths worth of #500 each, how much will be your profit? if we should calculate it 500 x 200 = #100,000 – #10,000 which you bought it = #90,000 – #4,000 for transportation = #86,000 wow definitely you will make #85,000 profit in less than two weeks if you are smart and God is in your side.
Which Nigeria company are ready to pay their workers such salary this days? Note, to succeed in this business you must have to terminate any act of shame in you. you have to act smart calling customers, shouting etc. You have to take it as your means of survival, since you are not stealing you definitely have nothing to be ashamed of.
2. Pure water/bottle water business
If you are living in a popular location such as Lagos then pure water business could be a very good option, this business doesn’t required a lot of start up capital. with just #3000 to #5000 you can start this business in a stable way.