It is without a doubt that getting a business loan in Nigeria is a herculean task. But having capital is an important factor in starting a business. In this guide, we will give you 5 profitable businesses you can start with N10,000 capital in Nigeria.
There was a time the Federal Government of Nigeria brought about an initiative called TraderMoni to boost the Nigerian economy where loans of ₦10,000 were dispensed to petty trades. A lot of people felt N10,000 was an amount too small to start a business.
However, this article seeks to bring to your attention that there are in fact many businesses you can start with just ₦10,000 in this period.
Starting a business doesn’t have to be when you have millions, but you can start with the little you have. With just ₦10,000 you can start any of these businesses and yield good profits.
Profitable Businesses You Can Start With N10,000 in Nigeria
(1). Food business
One of the basic needs of life is food and as such one can never go wrong with having a business that centers around it. Food is an essential element of life. Humans must feed, hence we need food to survive.
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With just N10,000 you can set up a fast food business nowadays. You don’t even need a location as you can deliver right to their doorstep or any other place of their choice. You can make snacks, noodles, rice, or swallow foods. What matters is how you package it and how you make the food. The most important aspect of this kind of business is that you gain a lot of profits and it is a long-lasting business.
(2). Laundry business
We have a lot of working-class and busy students who have little or no time to do their laundry. This is where the laundry business comes in as you help them wash and iron their clothes for a fee. Starting this business is simple as you can actually start from your home. What you need is an iron, a good soap (sometimes, the client gives you the kind of soap or detergent they prefer for their clothes) and a washing machine (in its absence your hands can work perfectly!) Gradually, with the advent of more customers, you can begin to hire workers and expand.
(3). Freelance writing
In the world of technology, there abound lots of opportunities and one of such is freelance writing. All you need is a good phone or laptop to type, and good writing skills, and then you source for work from people. You can write for blogs, sites, and people who are in need of writing services. There is even a full-time job as a writer now with good pay. You just have to start from somewhere and gradually when you get better you start earning big.
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(4). Soft drinks/Pure water business
Actually, ₦10,000 can only work if you already have a good refrigerator and steady electricity. If you have the above,, good for you. As you can start this business for as low as ₦10,000. You need to get soft drinks and pure water and ice them. Then, you look for people who can help you hawk it around. This is great as not only are you making profits, you’ve created employment opportunities for another set of people and you’re all making your profits. If your place is not far from a park or bus stop, then it is better as there is a higher chance of your wares being sold faster thereby resulting in more profits.
(5). Poultry business
This is a business that is fast gaining ground now. It is even more comforting that you can run this business right in your home. All you need is a nice ventilated space, and your domestic birds like chicken, turkey, ducks, etc and food to feed them.
Gradually, you can expand as you get more money to get more of them.
Wrapping up 5 Profitable Businesses you can start with N10,000 Capital in Nigeria
With just N10,000 in your pocket, you can still start any of these profitable businesses in Nigeria and still have something to show for it at the end of the month.
Don’t wait till have millions in your bank account. Start little and get bigger with time.