Can Two Hundred Thousand (200,000) nairastart a good business in Nigeria? Can someone answer and enlighten me please?

Why Nigeria and not the world?

Talk with investors and people with creativity.

That amount could start you a clothing line.

fadekemi it depends on what you consider a good business! some business, YES! some, that won't even pay for a shop! so I think you'll get more and better advise if you can atleast specify what type of business you have on mind.
One example: CELL PHONE, which is what most people are going into in Nigeria now, some even go to China, Taiwan, Dubai, and Finland to buy them. With 200,000 thousand naira you might not even have up to 10 good sets after paying for your shop and if you have a shope already or decide to go door to door with it, that amount can only buy between 20 to 25 sets of phone or even less depending on the type and quality some are up to 45 thousand naira each! so using the world "good business" with that amount is kind of tough to advise on!

it will start a business for you,and it depends on who is managing it and who the person does the managing.

and how the person does the managing

A clothing line?  Can N200k actually start a clothing line?  (not $)

ok people, I want to start/open a Unisex Salon with other minors like phone business.  CD, DVD, Games for sale at the same venue possible not in da central lagos so average shope rent

- cut hair
- braid hair (extra)
- sell re-charge cards
- sell dvds, games, CDs
- gameshop ps3, x-box 360 (extra)

Considering the fact business is risky and triple risky in Nigeria, do you think 200-250k would be enough to start a barbing shop?  If I was living in Nigeria would I be able to survive and live with this?

I asked my barber who owned a shop in nigeria it should be enough but i should forget nigeria n concetrate on my studies.  But I've been itching to do something like this for a long time.  I basically want to supply the capital and have my cousin manage it for themselves!  If they succeed that's their gain, and if not [then too bad].

A CLOTHING LINE? can N200k actually start a clothing line? not $

Loverbwoy, (I find it funny saying that name)

Its all depends on what and who you know. I'm an entreprenuer and I'm speaking from experience. If you want to seek advice let me know.

well im an entrepreneur myself though studyin engineering 

i will like more info as im more inclined to service than manufacturing...and guess what... i'll even invest if the books are clean n right ..how about that!!

do not depise your little beginnings.

The best advise i can give u is become an agent. Thats how i made my first million at d age of 22. I'm 24 now anyway and it not that i've made so many.
Here's what u can do.

Buy Castles Magazine (weekly). See the Hot Bargains for sale (cars and houses). Contact those who sell them and tell them u can get them a buyer within a week and agree on a commision (maybe 20K). Contact a lot of them and build ur inventory.
Now go on other national dailies like Guardian or on radio (or even nairaland.com) and advertise. Once interested parties call u, u link them up and collect ur commision.

Rules of the game
**Add only HOT products into ur inventory e.g used honda car for just N200K etc. People love bargains.
** When people call u, always say its available until its actually no longer available. the fact that some1 calls aint enough proof of interest. So u can talk with several parties until the product is actually sold. Dont turn me back just because some1 called u first.
** Make extensive advert via several media and include several modes of contacts (not just phone).

U'll be making lost of money if u do this well. u dont need an office space, no products...etc. Overhead cost is minimal and surprising thing is that u could make as much as d seller himself.

...plus don't think of getting/renting a shop or office now. If its absolutely necessary, U can make use of a friend's (for a while). N200.000 should not go into assets now..only profits can.

have u thot of buying equities - buy low and selling high. if u dont have more than 200k at the moment.

all u need to do is to identify good stocks and invest in them. no cost attached except transaction costs which more or less 4%.

Also u can start with retailing of some goods or better go for LPO for supplies (but from reputable companies only pls).

thank u all for your opinion, is not that i want to leave here and start a business in nigeria, but someone close to me is asking me for that amt to start a business and i did not know the present economy in nigeria ,so that he wont just rush into any business that wont pay both of us at the end of the day . though am not expecting any reward from it but make sure he manage it good . thanks

200K is more than enough to start a good business in naija. what is important is the unique idea and the drive to make it work. you can sell drinks. you can even sell private label pure-water. you can start your newspaper. you can be a consultant (u need brains and a sharp mouth)

Sure 200,000.00 can do a good business in nigeria not just good but very good business in nigeria. At least I know of one.

With 200k, you can start even a very good business. Only what you need is that you've to plan what biz. you want undertake.

Yes, it can start a good business if and only if you have a good business plan and strategy both for short term and long terms

Yea of course, maybe it can assist you in selling pure water in a show glass
Alright am just kidding. Well it all depends on the kind of business you would like to start up and where you would like to set it up. There are various consultants in town... Contact any of them for professional information

...and the consultants would just charge u ONLY #200,000.

Those who are saying that one can start a business with 200,00 naira should remember to let us know what businesses one can start with 200,000 naira in Nigeria. This is important.

Okay, guys thanks I've read all the messages in this thread. My question is this, how about someone with £10,000, what good business can he start in Nigeria particularly in IT?

One of the thing you can do is be a service provider to Banks and Corporate institute; Database management or Engineering. Get a bunch of guys that are good in IT and their credentials on a website, publicised the site to potential clients and get some relationship with them. Nigerians are always looking to updates in IT. Have your professional IT guys most in Lagos, then Abuja and Port.

Another thing you can do is help us in the movie industry. The Media/Movie Technology in Nigeria lack the hand of a professional touch. You can open a studio just for pro-production. Which will entails, editing, sound effect, visual effects and use of Computer Generated Images (CGI). Not only movie industry you use this for but also music industry, doing music videos.

Believe me with Media Technology you make it well in Nigeria. I was there for some time last year and I see all what they can offer.

Must it be in IT? why not clothing line because right now,I'm developing a business plan I would need some one who'll be interested in equity holdings in it .In the long run we expect to sell the products in England but it would make sizeable chunks in Naija too especially since the distribution will be in top shops around Nigeria.

LET ME KNOW WHAT YOU THINK WE'LL TALK IN DETAILS!I intend to start with good management team.Less on overhads and more on production

kemmy:

Must it be in IT? why not clothing line because right now,I'm developing a business plan I would need some one who'll be interested in equity holdings in it .In the long run we expect to sell the products in England but it would make sizeable chunks in Naija too especially since the distribution will be in top shops around Nigeria.

LET ME KNOW WHAT YOU THINK WE'LL TALK IN DETAILS!I intend to start with good management team.Less on overhads and more on production

I am just reading you post now, i hope its not too late ? if you need a dilution in your equity, you can send a summary of your business status to me and specify what % you are willing to give up.

nicholas_tyson@yahoo.com

Quote from Kelvin
Yea of course, maybe it can assist you in selling pure water in a show glass
Alright am just kidding. Well it all depends on the kind of business you would like to start up and where you would like to set it up. There are various consultants in town, Contact any of them for professional information

Kelvin,
You would be surprised what kind of daily income you can make by 'selling pure water in a show glass.' Ok, forget about the show glass, think of a cooler. The other day, I was at my barber's and the female barber who assists the owner of the salon had a cooler of water by the side. As we talked, she made me realise that she could do with a bigger cooler as the demand was so very high. How much was the bigger cooler? N2,000 or so. I gave her half of it. Two weeks later, she had bought a bigger cooler and from the look of things she indeed needed another bigger cooler. I didn't ask how much she made in a day, but, as it were the demand was the most important thing to her: it was high. Just find a need and fill it. And, be not ashamed. Like an unemployed cousin-in-law of mine who I had asked one day what her passion was? When she told me she could weave, I told her she could start a 'dial-a-weave' business. I was even ready to throw in the seed capital to do a classified and some flyers (all these couldn't have cost me more than N10,000). All she needed to do was put her number in the advert, requesting for ladies who needed home service to call and book for the service. To take it further, she could get a list of good weavers whom she could call at the shortest notice to go and weave for the ladies. (And, believe me there are quite a number of ladies who would rather have the weavers come to their homes. For a little premium. Well, what did my cousin-in-law do? She listened to my 'business plan' which, if you must know, came by some impulse, and said she would get back to me. She never did.

Dear all I working on starting a business for CDS/DVDS store that specializes in Nollywood movies, foreign movies, Nigerian music and international music CD/DVD,DVD rentals and games. What go you guy think!

GentlBlunt:

Another thing you can do is help us in the movie industry. The Media/Movie Technology in Nigeria lack the hand of a professional touch. You can open a studio just for pro-production. Which will entails, editing, sound effect, visual effects and use of Computer Generated Images (CGI). Not only movie industry you use this for but also music industry, doing music videos.

Believe me with Media Technology you make it well in Nigeria. I was there for some time last year and I see all what they can offer.

Hey GentlBlunt, can you enlighten me more about this? This is really what I want to get into in NG, especially music and production/engineering. But I am not really sure how to go about getting into the entertainment field in Nigeria. Any advice you may have will be greatly appreciated.

Thanks in advance, Magz

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There are 2 things you can do
Sell Services
OR
Sell Goods
Just know what you are passionate about  what you can do and what you can deliver.
If you choose to sell pure water, t hen take it to another level.
If you sell services, then you need to know what you are doing and selling.
The key is finding the right business that sets you apart from the crowd.
If you can do that , you will be fine.

For info sake, if you need a business consultant , then I can offer you such service for a fee.
I charge per project or per hour, 

You se one of the amazing busines you can do here in Nigeria is global stock trading, it doesn't limit your existence, you can be making your money whereevver you go in the world, with your laptop as you browse.
The 200k is too more self.
to know more visit my site
www.bothsstocks
you can write me on it and leave a question if you have one.