With high unemployment rate estimated at 23.1 percent, a large number of Nigerians are seeking what to do with the little they have saved. Start-Up Digest has listed some of the businesses that can be started with just N50,000.
Fashion and Design
What is basically needed before starting this business is training. You need at least 12 months’ training before delving into this business. If you wish to attract top clients, you may even extend the training to two years. Key to success in this business is to constantly look out for new designs on the Internet. You can start this business at home. All you need is a sewing machine, which costs less than N50, 000. It is, however, important to note that you can start this business with less than N50,000, but someone with deep-pocket can also start it with N5 or N10 million. It all depends on how much you have. Yejide Elugbaju, founder and CEO of Rivah Beauty Limited, told Start-Up Digest that she started her outfit in January of 2016 with N50,000. Chidiebere Akpojotor, CEO of Chiky Fashions, said the industry is still small and there is a lot of gaps to be filled.
Online Business
Here, we are looking at various ways you can make money from the Internet legitimately. You can specialise in online marketing by growing your blog and social media pages. A majority of young people are on Twitter, Facebook and Instagram, and those who sell their products or market for others through these platforms make money. You may get a Google AdSense code on your blog (if you have one) so that you make money any time someone clicks on any ad on your blog.
Bamidele Onibalusi is the founder of Deloni Enterprise, an online business. Onibalusi started the business with N15, 000, which he used to register his website and purchase hosting. Hear his testimony to Start-Up Digest:
“I mainly deal with clients and customers in Europe, America and other parts of the world. I also earn my income in dollars and convert at the current exchange rate. This ensures that the recession in Nigeria has little or no impact on me.
Real Estate
A lot of people believe that being in real estate business means you must have a lot of money. Not always so. Onyeka Goodness Ifendu, founder and CEO of Exclusive Courts, a real estate development company, started without money.
“I started with nothing. I was just offering services to people. But today, we are building our own estate at Ikota Villa Estate Lagos,” he told Start-Up Digest.
Laundry
You can start by servicing the needs of family and friends. Here is a testimony of the Kwara State-born Abubakar Sodeek Arekemashe, a 28- year- old student, who is now the chief executive officer of a laundry outfit called Sky Limit.
“When the idea came to my mind, I discussed it with my friends. I told them I wanted to start a laundry business. They called it an inferior business. But I let them realise that it was nothing to me and I started it on 24th February, 2017. It was easy for me because I had iron, laundry basket, regular water supply and electricity. Out of the money, I bought soap and starch, then started with three clothes. Today, I am getting a number of people who patronise me,” Arekemashe told Start-Up Digest
