10 Workable Business Ideas Requiring Little or No Capital

10 Workable Business Ideas Requiring Little or No Capital
10 Workable Business Ideas Requiring Little or No Capital

10 Workable Business Ideas Requiring Little or No Capital: If you’re on the lookout for investment opportunities with a limited amount of money and a desire for guaranteed success, or if you’re seeking small business ideas that have the potential to grow rapidly in your local environment, then this article is tailored for you and others in search of viable business ideas that can be initiated with minimal or no capital.

We have curated a list of 10 Workable Business Ideas specifically tailored to the Nigerian context while being applicable to the wider African region. These ideas have been carefully selected, taking into consideration what works effectively in Nigeria’s business landscape.

If you’ve grown accustomed to the one-sided narrative of poverty in Africa perpetuated by mainstream media, it’s time to challenge that perspective. The entrepreneurs who are currently achieving remarkable success in Nigeria and Africa have a distinct outlook.

Interestingly, while many people feel disheartened and frustrated by the challenges in Africa, these successful entrepreneurs are motivated and inspired by these very obstacles. They view problems as opportunities, and it is this mindset that sets them apart.

These entrepreneurs in Africa approach challenges with creativity and innovation, developing solutions that not only generate profits but also create employment opportunities and have a positive impact on people’s lives. In this article, we present a preview of ten workable business ideas specifically tailored for young individuals and aspiring entrepreneurs in Africa.

10 WORKABLE BUSINESS IDEAS IN NIGERIA/AFRICA

  • FARMING: THE NEW OIL
  • BAKING / DECORATING
  • GARBAGE DISPOSAL: THE NEXT BIG THING?
  • FREELANCE WRITING
  • CLOTHES MAKING
  • AGRICULTURAL PRODUCTS EXPORTATION
  • IMPORTATION/SELLING OF CLOTHINGS
  • DAYCARE CENTER
  • CALL CENTER
  • THIRD-PARTY RECUITER

SEE ALSO: Sites And Skills For Your Career| Top 10

Looking into details…

#1. FARMING: THE NEW OIL

One of the fast business opportunities in Nigeria is livestock farming. This industry is continuously emerging and is yet to discover its fullest potential. This business can be started even in your backyard, provided that you know how to operate the equipment and take care of your livestock. Some of the niche areas that you can venture into are cattle grazing, catfish farming, goat rearing, poultry farming, snail farming etc.

#2. BAKING / DECORATING

Cake and cupcake bakery is one of the best business ideas in Nigeria. Without an atom of doubt, baking is a very lucrative business to start this New Year.

Baking, decorating and selling unique cakes and cupcakes for occasions is a great business idea for the hobby baker to venture into, and one that is potentially lucrative. You can get started on a very small budget by baking and decorating your cakes right from the comfort of your kitchen.  An effective marketing strategy is to forward your cake samples to interested parties and party planners to ensure they partner with you when the need arises or you can showcase your works on social media using the most effective hashtags that drive sales.

#3. GARBAGE DISPOSAL/WASTE RECYCLING: THE NEXT BIG THING?

What do we do with all the growing heaps of filthy waste? Before we find ourselves in the middle of the worst environmental crisis the world has ever known? One of the biggest challenges that Africa is facing at the moment is hygiene and cleanliness, perhaps because of widespread poverty. Hygiene has become an issue that needs to be tackled. The amount of garbage that is collected on a day-to-day basis in Africa is huge.

And as the continent’s population continue to raise, the waste problem will only get worse. In South Africa, for instance, the solution appears to be to convert waste into animal feed. AgriProtein is a business that grows maggots from waste collected from markets, households and businesses. The maggots are processed into a highly nutritious protein supplement that substitutes fish meal in animal feed. The company has risen up to $30 million in funding, making it one of the best-funded insect farming businesses.

Across the continent, entrepreneurs are hard at work trying to squeeze out value from waste, and in the process, they’re creating an industry that could provide both low and high-level jobs for thousands of people.

From the trend of waste recycling and transformation initiatives we’ve observed, there’s only one place this is heading to. We predict that over the next decade, waste will become a valuable commodity that households and businesses can sell for money. And the waste is likely to return to the food chain, to the electricity grid, or in some other recycled form.

But for now, you can venture into this business by getting an old truck or a wheelbarrow to help houses and companies dispose off their wastes.

#4. FREELANCE WRITING

A writing company is valued nowadays, and you can make some money if you take up freelance writing. At first, you will not even need a starting capital to begin your journey – the only things you will need are the skill and passion. There are many platform you can beginning, there is UpworkLinkedInFiverr etc. You can search for the orders online, or write for a company which will want your texts. The benefits of this job are countless, and the main one is: you will not have to go to the office– you can work from home with your laptop on your table and a cup of coffee beside you (for inspiration…lol).

When your business begins to grow which it will, you can hire other writers and start your little company. Writing content, especially of high quality, is in very high demand nowadays, and it is usually difficult to find the writers who will sacrifice themselves for this job.

#5. CLOTHES MAKING

If your hobby is making clothes, I don’t see why you would mind turning it into a business. The market is just so enormous, starting from family and friends who will always need new clothes for that next ceremony every weekend and then down to the plenty of schools, corporate organizations, security staff, the multiple military organizations and much more who contract out uniforms making to professionals. You can promote yourself as a supplier of uniforms, and make good money from such business arrangements or explore the other market possibilities.

#6. AGRICULTURAL PRODUCTS EXPORTATION

It might seem like its similar with the earlier discussed farming, they are related in a way but this is another totally different business venture all together.

According to the United Nations, Africa’s agribusiness industry is expected to be worth $1 trillion by 2030. And it makes perfect sense. The continent has a huge domestic market, owns 60 percent of the world’s unused arable land, and has abundant labor resources and a favorable climate in most parts.

Still, Africa spends over $30 billion on food imports annually. A big part of the problem is, most of Africa’s food is still produced by small holder farmers in rural areas. They are largely poor people who use crude farming methods and tools, and have very limited access to capital. This is a problem and remember that problems are opportunities.

You can start your own exportation business, if you register with the Export Promotion Council of Nigeria, and decide which specific product would be best for exporting. Some of the products that are in high demand abroad are cassava flakes, cocoa, yam flour, groundnut, chili pepper, cashew nuts, mango, and many others.

#7. IMPORTATION/SELLING OF CLOTHINGS

Importing your clothing can be done from such countries as China, India, France, Italy, and Dubai etc. If your capital is small, you can begin by traveling to Lagos. There is a trend of buying recycled [bend down select or second hand] clothes in Nigeria, this can be a good way to launch yourself into this business.

#8. DAYCARE CENTER

Majority of families have children, and most times the parents need to work. There are quite a lot of daycare centers, and still not enough, if you love children and are sure that you can care for them, you should consider setting up a daycare center. For starting a successful business, the environment has to be suitable for children so that parents would trust you with their kids. If you are creative in your approach to the youngsters and can create a good atmosphere for them, then you have a chance to make good money from this entrepreneurship. Besides that, it is possible to start it from home, as long as you think that your home would be a good starting place for the daycare center, then why not?

#9. CALL CENTER

Call center has over the years become a very popular business, because there are lots of people who need guidance, advice, or want to complain about services. Companies have been known to outsource communication with their customers; you can set up a call center agency, where you can work for large companies.

I know you are worried about where you can find such companies. While there are sites that you can find them with LinkedIn being the first call, you can contact some companies directly via mail or just the good old fashion knock on their door.

The secret is this, put yourself out there you never fully know what you can find.

#10. THIRD-PARTY RECUITER

Unemployment is a myth that has been created by an unknown few in Nigeria to keep the youth from dreaming. The argument that Nigeria suffers from the problem of unemployment, and that there are many people in desperate search for job is the reality of many. This is a problem. And remember that problems are opportunities. You can become a recruitment agent; connect people to the jobs of their dreams, and help companies find the right fit. All you need to do is to collaborate with different companies and recruit people for them.

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