Starting a business does not always require millions of naira. With less than ₦100,000, young Nigerians can explore several small business opportunities.
Here are five options to consider:
1. Laundry Business
Start by washing, drying and ironing clothes for customers within your neighbourhood. You can begin from home without renting a shop.
2. Phone Accessories
Sell items such as charging cables, screen protectors, phone stands and earpieces. Start with a small stock of products that customers need regularly.
3. Barbering or Hairdressing
If you have the skills, you can offer haircuts or hairstyling services from home or provide mobile services to customers.
4. Food Business
Prepare and sell affordable meals, snacks or small chops. Starting with orders from students, workers or neighbours can help you manage costs and reduce waste.
5. Egg Business
Buy eggs from reliable suppliers and resell them to households, food vendors and small retailers. You can start with a modest quantity and reinvest your profits as demand grows.
Before investing, research your market, calculate your costs and keep some money aside for unexpected expenses. Start small, understand your customers and grow as your business develops.
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.