Nigeria is a fertile land for any type of business. Thus investors around the world always choose the country as a perfect location for business. The only thing that is needed for any potential entrepreneur is to know the right business to invest in. Are you are aware that they are several businesses to start with 100k? What scares young Nigerians from becoming business owners and entrepreneurs is lack of capital. Most people believe that you need huge amount of money to start a business; this is far from the truth. This article will unveil top 5 businesses to start with 100k or less in Nigeria.

You are surprise right? Don’t be, advancement in technology has made the world of business very easy. Lack of capital is no longer a good excuse for not starting a business. However, before I share the businesses to start with 100k, you need the following to start a business in Nigeria.

What you need to start a business in Nigeria
Despite the fact that Nigeria is a fertile land for business, you still need certain things to be successful. Some of these things you need are;

Capital

It is a known fact that you need money to start your business. As a matter of fact, capital is the life blood of your business. However, you need an average of 100k to start a lucrative and viable business in Nigeria.

Necessary skills

Nigeria business environment is very competitive. You need to be skillful and futuristic to be successful. In view of this, we advise you develop basic skills that are relevant to your business area of interest. With unique skills, you will be able to deliver exceptional value for money. This will make you outstanding in your business niche.

Passion
You must have an undying passion for your business. Your passion is what will take your business to the next level. This is to say that, you should consider doing business you enjoy doing. This will accelerate your success rate in the business environment.

Dedication

dedication is key to your business. Take your business very serious and work tirelessly, especially at the initial stage. Work like a casher in the bank and think like an entrepreneur.

Optimism

Optimism is important for the success of every entrepreneur. The initial stage of every business is always very difficult and challenging. However, always be optimistic about the future and know that there is light at the end of every tunnel. Remember the challenges the world greatest entrepreneurs faced before they finally reached their destinations.

Business Acumen

There is a popular saying “You can’t give what you don’t have”. You can’t be a good business man or entrepreneur if you lack basic business acumen. So, your first task as a potential business owner or entrepreneur is to learn the act of doing business. Understand the flexibility of the business environment and how to adapt quickly to change.

Businesses to Start with 100k in Nigeria
Are you interested in starting a business in Nigeria? Have you been searching for businesses to start with 100k? Well, your search ends here. Below are list of 5 lucrative businesses to start with 100k.

Bedsheet/Beddings production
This is one of the lucrative businesses to start with 100k in Nigeria. It is very easy start and less stressful. Just visit Lagos Island, Oshodi or any other market around the country where you can get cheap materials. Look for durable, and cheap material, remember don’t compromise quality. Once you get the materials, there are tailors around the market who can sew nice beddings for you. Any start up entrepreneur can start this business with less than 100k. And there is definitely potential for growth in this business.

Shirts production
Shirt production is among the viable businesses to start with 100k in Nigeria. The interesting aspect of this business is that it doesn’t take much of your time. Thus, allowing you to combine it with your normal job. Though I am familiar with Lagos environment, I don’t know of other location. If you live in Lagos, visit Taiwo Street in Lagos Island is a perfect place to get cheap and nice designers materials. The materials range from 700 to 1k per yards and tailors will collect between 1500naira to 2k from you. Guess what? With a good marketing strategy, you can sell a shirt as high as 6k.

Sales of Boxers
Sales of boxers is a business area that is still very fertile. Schedule a trip to Aba market and locate people that produce boxers. You can get a boxer as low as 300naira. After which you can package it in 3s and sell at 1500naira per pack. You can sell them faster by advertising them on Facebook, twitter or Instagram.

E-payment and POS business
POS business is one of the trending businesses in Nigeria today. It is among the businesses to start with 100k and strives better in areas where banks are not much. Get a POS machine from your bank and activate online payment. This is what is required and for every withdrawal via your POS, you can charge 5 percent. However, you must be sensitive of your environment as the risk is high. There is possibility of being rubbed, so always be careful.

Mobile and electronics accessories
Mobile and electronics accessories is one of the easiest businesses to start with 100k in Nigeria. It involves the sales of chargers, pouches, USB cables, HDMI cables, earphones etc. And one of the interesting aspects of this business is that the more you buy, the lower the price. You can easily source for these items from Alibaba. Since they aren’t too heavy, shipping will definitely not be a challenge.

Well, you see for yourself. These businesses are easy to start, but they require time, skills, money and above all dedication. However, you can easily break even in the businesses highlighted above and work your way to the top.

You see, we have provided you with top 5 businesses to start with 100k in Nigeria. In the meantime, I wish you the best of luck as you pursue your dream of becoming an entrepreneur.

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