Many low-income Nigerians are asking repeatedly about businesses they can start with N100,000 or less. We will try to present three of these businesses and why they do not necessarily need so much money to start.
Fashion and Design
What is basically needed before starting this business is training. You need six to 12 months’ training and you must 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 N40, 000 now. It is, however, important to note that you can start this business with less than N100,000, but someone with deep-pocket can also start 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.
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 27- 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 with just N200.00. 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.
Online Business
Many digital businesses that you find in Europe, China, India and USA are still not here. A lot of Nigerians are raking in millions through online sales, and payment platforms, among others.
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.
ODINAKA ANUDU
