Over the month, we have kept receiving almost the same question as “What business can I start with 50k in Nigeria ?.”
Some people may not really know that this particular question may be very difficult to answer, though it appears simple.
I would really want to tell you that 50k is never too small to start a business; instead of you to continue waiting to have billions of naira before starting your business, why not start from somewhere and scale up!
In the field of entrepreneurship, it may not even be wise to start a new business with huge amount of money.
Rather, the best way to start your entrepreneurship journey is by starting as little as possible.
Since you may still be new in that business, you cannot really afford to risk a huge amount of money into uncertainty.
This is why you need to make a prototype, you need to test the market first before starting, scaling and expanding to the size of your choice.
So, if you are part of those that have been asking, “what business can I start with 50k in Nigeria?”, then this article would really be of great help to you.
Businesses You Can Start With 50k
Among some small scale lucrative businesses in Nigeria, below are some of them that you can actually start with as low as 50k
- POS Business
- Okirika Business
- Popcorn Business
- Fast-food business
- Snail Farming
- Small Scale Poultry Business
- Cassava Farming
- Rice Farming
- Scrap Business
POS businessess is one of the most lucrative small scale businesses in Nigeria that answers the question: “what business can I start with 50k in Nigeria?”
One interesting fact about POS is that there is no limit of profit you can make in a month, it all depends on how good your location is.
It may sound very surprising that if you are in a good location, you can be making up to 200k in a month with just POS business. Meanwhile you may not really need huge amount of money to get started, as 50k can actually set put up the business for you.
I could remember one certain time a Corps (NYSC) member asked me: “I saved only 100k during my service year, please what business can I start with 50k?”
He just finished his service (National Youth Service Corps) and wanted to just lay his hands on something no matter how small, instead of moving from Pilar to post, in search of job.
So, I knew it was going to sound embarrassing to him, but I had to tell him the truth.
I thought of what reasonable business one can really do with a token of 50k, then Okirika business just jumped into my mind.
I just told him, “why not try Okirika business?”
This really sounded odd to him, because he couldn’t imagine himself as a graduate selling Okirika.
But I had to let him know that it doesn’t really matter the business you do as a graduate, it doesn’t matter how many people that are already in the business.
Rather what matters is your ability to stand out as a graduate, your ability to set your own business in a different way, as a graduate.
My greatest joy today is that this Ex – Corps member later gathered the courage to go into Okirika business without minding what people may say about him.
And today, he already has one of the biggest boutique in his town.
This is why I said, in the field of entrepreneurship, you must not wait to start big; start from where you can lay your hands, and scale up.
So, if you are still asking: “what business can I start with 50k?” then I am also introducing Okirika business to you.
Okirika is a common local name used in Nigeria to refer to selling of used clothes.
You can start buying used clothes from some popular cities like Lagos, Onicha, Aba, and so on; and selling them to the best places they may be needed most.
And the assurance is that, Okirika business is a very lucrative business, and doesn’t require much money to get started.
Popcorn selling is another lucrative small business you can start with as low as 50k in Nigeria.
All you need are just: a nylon sealer, which you can get for about N1,900; popcorn maker, which you can get for about N29,000; Maize, which you can get at least 50kg bag for about N13,500; Ingredients for about N3,500; and other little things you may need.
You may really be surprised at your monthly profit from popcorn business especially if your location is nice.
Fast food is usually in form of a mini work-in restaurant that offers some sorts of wait-and-take foods like Noddles (indomie), Pap, Bread & Tea, and the likes.
You can even spice up your fast food business by adding other popular foods like rice, garri, fu-fu, and so on.
So, if you are actually good in cooking, I guess you don’t suppose to be asking “what business can I start with 50k?
Regardless of your gender, you can actually venture into this business and start making your cool money.
You may not really need much capital to start up, once you are able to rent a space, I think you are good to go, as your little cash can actually buy the few foodstuffs you need to startup.
Snail farming otherwise known as Heliciculture, is one of the most lucrative businesses that don’t require much capital to start in Nigeria.
Though snail farming is very lucrative than one can imagine, but it seems it’s still untapped because only few people know how to go about it.
Many people think it’s a business that requires much technical knowledge, without knowing that there is no big deal in snail farming.
Small Scale Poultry Business
Poultry Business is another business that answers the question: “what business can I start with 50k in Nigeria?”
Though it is very lucrative business that one can invest huge amount of money, but you can still start as little as possible and still make your profit.
I would always say that barbing is one of the most neglected but lucrative businesses in Nigeria. The reason people neglect it, is still what I don’t know till today; because there are people that are really making it big from barbing.
Though barbing requires skills, but even if you don’t know how to barb, you can still open this business and employ a barber.
Guardian had predicted that cassava would be very scarce and expensive in the year 2021. It gave the season to be because many farmers boycotted cassava farming in 2020, due to the huge losses recorded in 2019 by many farmers as a result of glut.
Today, the prediction is very real and very clear, as cassava is now a hot cake in Nigeria; an ordinary man now finds it difficult to afford cassava which was a very common commodity to people.
Not even in this side of it, right from time, Cassava had being a very saleable commodity as almost every family in Nigeria cannot do without it.
So, this would really be a nice business opportunity to think of, if you still have the question: “what business can I start with 50k?”
Rice farming is another lucrative businesses you can actart with as little as 50k.
If you can cultivate the rice with your hands, without hiring labourers, that makes better because all you may now need is just a piece of land and money to buy fertilizer.
Scrap business is another lucrative and untapped business that addresses the question: “what business can I start with 50k?”
The business ivolves buying and selling of items that are no more in use; like metals/iron, rubber, and so on.
The best way to entrepreneurship is by starting small and scaling up. You must not actually wait to have billions of naira before setting up your dream business.
If you have been asking: “what business can I start with 50k?”
It means you really want to start up a business, but thinking that the little you have won’t be enough to get started.
But I want to change your mindset, and let you know that your 50k can really go a long way in starting up your life in Nigeria.