Site Overlay

Small Scale Business Ideas That Require Low Capital

There are lots of small scale business ideas in Nigeria, and they all require a little money to begin. In that case, you no longer need to worry about a lack of capital.

One of the reasons many shy away from starting their dream business is often lack of capital and fear of failure. If you can destroy these two monstrous entities, you’re on your way to greatness.

In case you’re wondering which business to start, especially now that coronavirus lockdown is easing down, you’re on the right page.

The first step to starting a business is often the hardest. But when you take that step, it means you have defected fear.

When such happens, the sky becomes your starting point. The potentials you carry in business are tremendous; never allow fear or doubt to steal that potential.


What Is A Small Scale Business?

Simply defined, they are a privately owned corporation characterized by a small number of employees and low revenue.

Many giant corporations started as a small business and were able to grow given the time. For instance, Facebook started in a dormitory.

Today, Mark is one of the wealthiest persons in the world. Never be afraid to start small, as starting small can be a pace for something big.

Like the saying goes: Start small, but think big!


Small Scale Business Ideas


1. POS Business

POS Business

With at least #100,000, you can start a POS Business here in Nigeria and make so much money. There is no limitation, as you don’t need any technical skills to begin.

POS business is one of the small scale business ideas that you can start alongside any other business idea. You can run it with a phone repair business, computer or cyber café business.

Top players in the business earn over #20,000 profits in a week, depending on location. To begin, visit your bank and inquire about the POS business.

They will give you all the paper works you need. You can take it on a lease or pay upfront. Whichever options that seem helpful.


2. Laundry Business

Laundry Business

Many people have degraded this small scale business idea for reasons best known to them. But beyond that, this business is lucrative.

Since many prospective entrepreneurs shy away from this sort of business, it has made competition low.

That means your chance of eating a massive pie in the business is feasible. However, you need a good location if you must succeed.

If you already have a shop, all you need to start this business is #150,000, sometimes lower.

Going by your budget, you can decide to get the most critical equipment and forgo the rest for later times.

Never be afraid to start as small as possible, knowing that your dream is big and unstoppable. A laundry business in a buzzing residential area will make you a millionaire.


3. Mini Importation Business

Mini Importation Business in Nigeria

You probably have been hearing about this business for years, but too afraid to take an interest. If you’re a new reader in this blog, then you should know that this business changed my life.

I wrote a comprehensive article on how to start a mini importation business in Nigeria. If you’re fascinated with small scale business ideas such as this, you will find the article helpful.

It is easy to start and doesn’t require much capital. The fact is, it could be the only business on this page with the lowest startup capital.

I started a mini importation business with #5,000. When I sold my first product and saw how easy it was, I invested #20,000.

Gradually, it blew up!

Starting small doesn’t mean you need to remain low. It is merely a way of getting ready for the big giant corporation you always dream of.


4. Blogging

blogging

With #50,000, you can delve into the blogging business and make a lot of money sleeping.

I have been a blogger for five years now, and this career is what has been feeding, clothing, and sustaining me since my mother died, and my father retired.

Many people still think that blogging is dead, especially when they see how these mushroom entertainment bloggers behave.

Trust me when I say that blogging is very much alive. The best time to plant a tree was 20 years ago; the second-best time is now.

The reason why many fail as bloggers is that they don’t have the right guide or mentor. I made that same mistake, which was the reason my success took time.

When you blog the right way, making $500 every month is possible in your first year. There are lots of bloggers in Nigeria, earning more than $5,000 monthly.

They are not lucky or smart. These gurus are just following the right blogging format. I have been able to guide many into this path, and today, they are their own boss.

To begin this path, what you need is my eBook on A – Z of Blogging. With this guide, you don’t need anything else.


5. Car Wash Business

car wash business on Small Scale Business Ideas

Another small scale business idea you should consider is the car washing business. You must not be the one washing the cars, as you can employ some group of boys to do that.

All you need to do is establish a car washstand, and you’re good to go. Getting a suitable place can be hard and expensive. But when gotten, you have nothing else to fear.

You can start a car wash business with #150,000 and grow to #1,000,000 worth of business within a year. Fascinating, right?

If you’ve never researched this business, you will never know how profitable this business is.


6. Daycare/Crèche Center Business

Daycare/Crèche Center Business on Small Scale Business Ideas

If you love kids a lot, then this business will appeal to you. It is among the small scale business ideas that you should follow with caution.

That is because it can cost you over a million to start if you don’t plan your budget. The most important thing needed in a daycare center is classrooms.

Two or three classrooms are enough, with a lot of toys, television, and snacks. If you’re in an area with lots of mothers, you might need to employ an extra hand to help you in business.

Children can be tormenting; which is why you need all the help you can get.


7. Hairdressing Business

hairdressing business on Small Scale Business Ideas

If you love playing with hair, perhaps your calling is in the hairdressing business. Gone are the days when this business was exclusively for the ladies.

Today, lots of young boys are in the game, making more money compared to the ladies. These guys are talented, and can even makeup and fix your lens or lashes.

With #100,000, starting this business is possible. However, you will need a good location for the sake of your customers.

After establishment, run a few marketing campaigns to create awareness for your business. Within a month or two, your bank account will be breathing adequately.


8. Photography

Photography

If you’ve been a fan of photography, the chances are that you can make money from this passion.

When it comes to photography, there are lots of alternatives when it comes to making money. You can decide to cover weeding events, sell stock photos online, or even start a photo studio.

With #70,000, you can buy a low budget canon camera and begin. Perhaps when you’ve made a lot of money, you can upgrade by acquiring more equipment and accessories.

Your success in this business lies entirely on your skill. If you’re pretty great with the camera, getting customers won’t be hard.

No matter where your location is, potential customers are ready to cross ten mountains and seven rivers just to take a shot.


9. Poultry Farming

Poultry Farming

If you’re a fan of agriculture, you will love this lucrative business idea. Poultry farming is one of the small scale business ideas in Nigeria that can make you money.

However, you need training if you must succeed. A little mistake can spell doom, which is something you probably do not want.

Most notably, you need to learn about their drugs and feeds. When you master these two aspects of poultry, you have nothing else to fear.

With #100,000, you can start a poultry farm with just ten birds. In three months, the outcome will surprise you.


10. Affiliate Marketing

Affiliate Marketing

An affiliate marketer is someone that helps businesses sell their products and services.

To start an affiliate marketing business, you will need to have a target market and a blog. You can decide to be an Amazon Associate and make money recommending Amazon products.

You can also sign up for affiliate market places like ClickBank and ShareASale. They have lots of digital and physical products that you can promote and earn a commission.

This business is fascinating, which made me to even write about it. But, it isn’t an easy endeavor. If there is one attribute you need most, it will be patients.


11. Okrika Bale Business

Okrika Bale Business on Small Scale Business Ideas

If you have never worn Okrika before, I have.

It is one of the small scale business ideas that anyone can start here in Nigeria. If you want to make the most gain, I advise importing from China.

With shopping apps like AliExpress, Alibaba, and Wish, you can easily order them and have them shipped in your location.

Start with #50,000 and see how the business goes. Before you start this business, I always advise embarking on market research.

It is to find out if the business is hot in demand in your area. If it isn’t, it is best to leave it for another lucrative idea.


12. Cake And Cupcake Business

Cake And Cupcake Business

With #20,000, you can start this business and build your customer base. If you have the money, you can rent a shop in a good location.

Your target market is enormous, as your product is often a significant part of every event like weddings, birthday parties, anniversaries, etc.

The amount of gain from one contract can be triple. If you can acquire training and become exceptional in cake making, the sky will be your starting point.


13. Egg Supply And Distribution Business

egg business in Nigeria

There are numerous small scale business ideas in Nigeria, but the one that seems most profitable is this egg supply and distribution business.

It is easy to start, requires minimal capital, with less competition.

But else can you ask for?

In my article on egg business, I mentioned needing a delivery vehicle.

Since you’re starting on a low budget, you should strike that out of your checklist. The most important thing you need is to find a good poultry farm.

After getting a reliable farm, start building your customer base, and you’re good to go!


14. Fish Farming Business

fish farming on Small Scale Business Ideas

Starting a small scale fish farm will require at least #200,000, especially if you already have land. You don’t need any specialized training or seminar to start this untapped business idea.

All you need is to order for juvenile, construct a pond, get a good source of water supply, and you’re ready.

For the best result, I’d advise getting training from a fish farm. Three months or more is not too much since this business can utterly change your financial life forever.

Fish farming is profitable since demand is always rising.


15. Liquid Soap Production

liquid soap production

If you have this skill, then you’re lucky. You can make thousands of naira every day from this business.

But in case you don’t have an idea of how to produce soap, you can always enroll in any skill acquisition center.

If you didn’t find any, perhaps you should check out YouTube. There are lots of soap making tutorials on YouTube that will guide you.

With midnight browsing, you can download some of the videos and watch them later. Be ready to hit the market to get the necessary chemicals needed.

With just #20,000, you can start liquid soap production and make money.


Success Tips On Small Scale Business Ideas

Success Tips

1. Start Small, Think Big

Your mantra in life should be to start small and grow into a giant. There is no shame in starting small, provided you have big dreams for the business.

At first, it might feel degrading, especially if you’re a graduate.

But you need to know that success has nothing to do with your degree or intelligence. It lies in the little actions you take today.


2. Customer Is King

Most small scale enterprises in Nigeria are fond of treating their customer with disdain. One of the reasons businesses fail is because they overlooked the customer.

If you want to succeed, always strive to serve the customer as you would to a king. Make recommendations, and thank them for their patronage.

Your aim should always be to improve your product and services to be better. When you’re continuously improving, your customers will love you for it.


3. Marketing Strategies

If you want to succeed in any chosen business, you need to pay massive attention to marketing. That is the only way you can expose your business to potential customers.

You can use lots of marketing strategies, like social media, referral programs, sponsored adverts, etc.


4. Start With A Plan

Whatever business you want to start, ensure you begin with a plan. A business plan is not too much of a task, especially if you know how to write it.

Through your business plan, you can get an insight into the industry and how to succeed. Never start a business without a plan.


5. Brand Building

When you start that ideal business, your aim should be to build a reliable and reputable brand that people can associate with.

There are many ways to build a brand but start with a simple and catchy logo. A business website and social handles are steps toward such an angle.


Over To You!

As an entrepreneur, have in mind that the journey will not be rosy. But with consistency and perseverance, you will pull through.

When you discover an idea, do not let it die as a result of indecision. Begin by conducting a market survey and writing a business plan.

If you don’t know how to write a business plan, get someone who can, or perhaps you can check the internet.

Which of the small scale business ideas do you think you can start?

2 thoughts on “Small Scale Business Ideas That Require Low Capital

Leave a Reply

Your email address will not be published. Required fields are marked *

Sorry, you cannot copy content of this page