It’s possible to start a business in Nigeria with ₦100,000 and still have success. The country’s economy offers many opportunities for small ventures. With careful planning, you can create a profitable business that fulfill your purpose.

Choosing the right business idea is important, so you may want to consider options that need low startup capital but have growth potential. For example, POS services, selling phone accessories, small-scale cooking, making liquid soap, and mini importation are good choices. These businesses address specific customer demands and can start with a modest investment.

Here are 5 businesses you can venture into with just 100k:

1. POS Business

With the increasing demand for financial services in areas with limited banking facilities, a POS business can be lucrative. As a POS agent, you can assist customers with cash withdrawals, deposits, and bill payments. To get started, you’ll need a POS machine, which can be obtained from either Opay, Moniepoint or Palmpay.

You will need additional money for some modest setup like a kiosk or a table with an umbrella. Depending on our location. The 100k is your capital while you need to have gotten a POS machine already.

With 100k capital in Pos business, your daily earnings can range between ₦3,000 and ₦5,000. TO get a POS machine, Talk to a POS dealer in your location. They are found everywhere across Nigeria. If you need assistance, You can always seek help from established POS agents in your area.

2. Phone Accessories Business

The widespread use of smartphones in Nigeria has led to a consistent demand for accessories such as chargers, earphones, phone cases, and screen protectors. With ₦100,000, you can source these items in bulk from wholesalers and sell them at retail prices.

If you’re in Lagos or close to Lagos, you can buy phone accessories in bulk in Alaba Intl Market or Computer village. just ensure you buy some accessories that people love to buy. For more help in this regard, you can discus with people who are already into this business in your area.

Note that 100k can only buy few accessories to get you stsrted. You will need additional fund if you need a kiosk and to expand your business.

3. Food Vending

If you’re good at cooking local food, you can set up food vending in busy areas. You can specialize in meals like swallow and stew, rice, beans and bread. You can start frying akara or potatoes at a busy junction or snacks near offices, schools, or markets. An initial investment in cooking utensils, raw foodstuffs, and packaging materials can get you started. Maintaining quality and hygiene will help in building a loyal customer base.

4. Liquid Soap Production

A lot of people are now moving away from using detergent and embracing liquid soap. If you decide to take advantage of this, you can make a lot of profit. All you have to do is learn the production process through workshops or online tutorials. You can start off with Youtube tutorials if workshops aren’t available. Purchase the necessary chemicals and packaging materials, and start producing at home. Marketing your product to households, schools, and businesses can yield substantial profits.

5. Mini Importation Business

DO you know that you can import goods from China to Nigeria and sell for some profits? This involves importing high-demand products such as fashion accessories, gadgets, or beauty products from international suppliers at low prices and selling them locally . You can start with a capital of ₦100,000 buying small stuffs like undies, cheap sneakers, phone accessories, etc.

You can sell these items on social media if you have a huge fan base. You can also advertise to your friends and family. If you need more business idea for a capital of 100k, take a look at this video on Youtube

Conclusion

starting a business in Nigeria with ₦100,000 is achievable by selecting ventures that require low initial capital and meet local demands. Just follow the steps highlighted in this post and you’re on your way to a profitable venture.

Success in these endeavors depends on thorough market research, understanding customer needs, and delivering quality products or services. By leveraging digital platforms for marketing and maintaining efficient operations, entrepreneurs can build sustainable businesses even with limited initial funds.