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67 Businesses To Start In Nigeria In 2021 With Little Capital - Business - Nairaland

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67 Businesses To Start In Nigeria In 2021 With Little Capital by bukkiideas01: 1:03pm On Dec 24, 2020
It’s good to know that you are interested in knowing the lucrative businesses you can start in Nigeria in 2021 and trust me, that's a step in the right direction. These 61 lucrative businesses in 2021 are not just profitable, they are quite pocket friendly to start.

Of course, we all know that starting a small business in Nigeria is one of the ways to escape the abject poverty and unemployment that has become the bane of young Nigerians over the years.

Left with no other options, millions of Nigerians have ventured into one business or the other in the past years.

The good thing about starting a business in Nigeria is that with the right amount of effort, some calculated investments, and discipline, a business is likely to succeed in Nigeria.

Our huge and growing population is one of the reasons for this belief.

According to recent research, it is estimated that by the year 2050, Nigeria's population will be 400 million. Can you beat that!

Now, with this surge in population, small businesses will continue to thrive in Nigeria and provide a livelihood for millions of Nigerians.

So, if you are thinking of starting a profitable business here in Nigeria, this is the right time you should start your business already. What are you waiting for?

Whether you are an 8 to 5iver who wants to have other streams of income, or you are a student and you have decided to find some business doing while ASUU do their thing, now is the time to start a profitable business in Nigeria.

Before I get into the list of lucrative businesses in 2021, let me assure you that you can succeed. Don’t be afraid to venture into a business. Before you start, learn why businesses fail in Nigeria and how to avoid failure.

Have the right entrepreneur mindset, and be determined to build a lucrative and profitable business.

Now, let me share with you some of the best business ideas that you can start in 2020.

61 LUCRATIVE BUSINESSES IN NIGERIA WITH LITTLE CAPITAL 2021
AGRIC BUSINESS


With the Coronavirus saga, it became clear to Nigerians how important Agriculture and food are to the nation.

During the lockdowns, only essential food item sellers and related products and services were allowed to continue their trades.

Soon enough, it became clear to all that food is the single most important need of man.

And since then, some businesses have pivoted into agriculture or food business considering people’s needs.

Agriculture is very lucrative in Nigeria today.

Government and international agencies continue to support farmers and agric tech startups that ensure food production and distribution in Nigeria.

This is the best time for a farmer ever. And you don’t necessarily have to be on the farm to be a farmer these days.

You may outsource your farmers while you own your land or visa or you could even be an investor in farming.

The choice is yours.

1. PRODUCTION, DISTRIBUTION, AND SALES OF HAND SANITIZERS

With the unfortunate incidence of the Coronavirus that has claimed the lives of millions in the world, Nigerians are not likely to forget their hand sanitizing habit in a hurry.

As you may imagine, the sales of hand sanitizers will continue to grow in 2021 and beyond. Hands sanitizers production and sales are some of the lucrative and profitable businesses you can do in Nigeria right today.

And guess what, you need only a little capital to start it.

Interestingly, with as small as N50, you can start the business on a small scale.

All you need to start your hand sanitizer business are Ethanol, Hydrogen peroxide, Glycerol, Sterile distilled, or boiled cold water, all in stipulated quantities.

Some other simple logistics are also involved but none will exceed 100k.  Here is a simple video on how to make Hand sanitizers following the WHO guidelines.

2. REAL ESTATE

If there was ever a time when real estate was a very lucrative business, it is now.

People are now more aware of the need to invest in real estate more than ever.

As you may have noticed, the influx of fintech savings, lending platforms, and real estate companies targeted at low to middle-income earners has made the real estate industry a boom.

And no, you don’t need lots of money to start a real estate business. All you need is a real estate company you can work for and that one first customer.

3. TRANSPORTATION BUSINESS

According to recent research,  a total of about 64 vehicles are available per 1000 Nigerians. Compared to Libya’s 483 and Brazil’s 350, this is a far cry.

The positive side of this is that there is a huge opportunity in the transport industry in Nigeria.

In Lagos for example, many people find it difficult to commute because of the incessant banning of bikes and tricycles – their easiest and most accessible means of transportation.

Talking about the different aspects of a transport business that are lucrative for you, they are:

Transport networking services: This is a transport service where companies connect riders to drivers via apps or websites. The likes of Uber, Taxify, and other vehicle hailing services are good examples.

Higher purchase services: Higher purchase is a transport business where you buy a vehicle and then give it out to a driver for a return of a higher price than you bought it for in a specified period of time. This is a very profitable one if you can save the capital.

Vehicle hiring services: Vehicle hire is a transport business where a businessman can afford to purchase a vehicle - be it a Tricycle, Taxi, or Buses and gives it to other people for hire, and he receives his daily or weekly returns depending on the binding agreement.

Any of these transportation business ideas is very lucrative.

If you do not have money to buy a vehicle now, you could look into joining the Uber bandwagon till you can save some money of your own and invest in the transport business big time.

Some of the wealthy Nigerians in the country made their money from investing in the transport business.

4. SALES AND INSTALLATION OF SOLAR SYSTEM

One of the determining factors of a business that will be successful is that it fills a real need or solves a real problem.

Undoubtedly, one of the most painful problems of Nigerians is that of lack of epileptic and inadequate supply of electricity.

Because the supply of electricity is tied to productivity, Nigerians are constantly on the lookout for a better option.

With the constant hike in fuel prices, generating plants are fast becoming a less preferable alternative.

You must have noticed that lots of homes in Nigeria prefer to use solar systems, especially among the middle to high income earning Nigerians.

That’s why I am listing the sales and installation of solar systems as one of the most lucrative businesses to start in Nigeria in 2021.

Many Nigerians now aspire to use solar home systems, solar business is a hot business idea in Nigeria that is largely untapped.

With the right manpower and capital, solar system sales and installation is one business I can recommend in 2021.

5. DELIVERY SERVICES

It’s no longer news that online shoppers are on the increase worldwide. Nigeria is not an exception.

According to recent research on e-commerce size in Nigeria, 65% of internet users shop online in Nigeria. 24% of internet users are expected to shop online in the nearest future. While 89% of internet users are potential online shoppers.

What does this signify?

Since online shoppers will increase in years to come, e-commerce companies would need to work with delivery companies who can get good safely delivered to customers at the right time.

Apart from that, many small business owners who leverage social media to sell their products need small delivery companies to help get customers' goods delivered at their doorsteps.

These delivery companies are more niche-based than courier services which in most cases delivers anything and are large companies.

6. MINI IMPORTATION: Profitable Business to Start in Nigeria 2020


Another business that is one of the lucrative businesses to start in Nigeria with little capital in 2021.

From what I have read and heard, mini importation to Nigeria is a hot business idea in Nigeria right now.
Lots of people are trooping into the business line – Nigerians no dey carry last. Lol.

Some of my colleagues started mini importation not too long ago and they are giving me interesting feedback so far.

The good thing about this business is that you can make a lot of money off it, it is highly profitable and lots of Nigerians would key into imported good that is guaranteed.

And yes, you don’t need a lot of money to start mini importation, that’s what the name – mini-importation - implies. This guide on How to Start Mini Importation Business in Nigeria will help you to kick start a successful mini importation business.

8. E-PAYMENTS/POS BUSINESS (AGENT BANKING)

This is one of the 61 lucrative businesses in Nigeria with little capital in 2021.

No matter where you leave in Nigeria, accessing the banks is always an issue sometimes.

Agent bankers live in the neighborhood. They provide basic banking services like withdrawal and deposit to customers in the streets who would rather not want to use the banks.

The business is highly profitable. With a withdrawal or deposit of N5,000K, you take a cut of about N150 – N200. With up to N10,000K withdrawal or deposit, you get more than N200.

Now, imagine doing 30-50 transactions daily. Amazing!

If you live in an obscure area where access to banks is a problem, this business will really work for you.  And, if you want to start this business, this is the right time before it gets too saturated.

And yes, you can start this business with little capital.

9. DROPSHIPPING

No, dropshipping is not the new buzzword in business; it’s actually a business model that’s very lucrative for the up and mobile business minded Nigerians.

Truth is, you can start this business with zero or no capital!

Dropshipping is a type of business model which enables a business owner to operate without maintaining inventory, owning a warehouse to store their products, or even having to ship their products to their customers themselves.

The retailer (you) partners with a drop shipper who manufactures or warehouses products, packages the products, and ships them directly to the retailer’s customer, on the retailer’s behalf.

The retailer and buyer do not get to see, neither does the retailer needs to have a shop to store any products or goods before making sales.

To start dropshipping, all you need is an online store which could be a website, an Instagram or Facebook account, or other platforms where you display and advertise goods for potential buyers to see and make orders.

You also need to work with a manufacturer or warehouse owner from where products will be sold from.

10. CO-WORKING SPACE
This is an easy way to make money in this start-up era of ours. How does it work? Very simple:

See Also: 10 Keys to Real Success in Life

If you have an office space that is big enough, you can simply share it with fellow start-up owners who need such spaces but cannot afford to rent an entire office space or pay an entire 2-year rent.

Startups who rent co-working spaces get the spaces at a fringe of their rent budget and also enjoy the flexibility that comes with it.

Such flexibility includes a pay as you go package which means you pay for your rent daily or weekly when you use a co-working space.

You need a neat, presentable space for this business. Co-working spaces with free internet facilities and other perks are more attractive to start-ups looking for space.

11. SERVICED APARTMENTS


If you know Brain Chesky’s Airbnb then you will have an idea of how a short-stay apartment works.

Similar to a hotel, a short say apartment is an apartment that is fully furnished for short term or long term stay.

The apartment also provides hotel-like amenities such as room service, housekeeping, a fitness centre, a laundry room, and a rec room.

What makes them different from hotels is that serviced apartments are like personal homes.

Most of them are equipped with full kitchens, Wi-Fi and in-apartment washers and dryers, and other facilities in a home.

Because they are more homely than hotels, they come at more expensive prices, and here is when the business sense comes in.

If you have a good apartment especially one located in Lagos, you may consider turning it into a suitable serviced apartment; list it on Airbnb or other platforms like Homeaway or Booking.com and start making cool bucks!

12. MOBILE FOOD VENDOR

Food is the most important need of man. The food business is therefore almost always a profitable business especially when the business model is well taught out.

There is a food business that is fast gaining acceptance now, even though it’s not new. It’s a mobile food vendor.

How it works is that instead of renting a space, a food business sells food in a mobile kiosk in a particular location. The kiosk can only allow for taking away services, no sit, and eat offer.

The good thing about this business is that you don’t have to pay for any rent. You may need may only need local government approval for your space.

Once you get a fancy kiosk, no other serious expenditures.

Mobile food vendor business is definitely one of the businesses you can start with little capital and it’s profitable too.

13. START A YOGA STUDIO

Yoga is fast gaining acceptance in Nigeria now, why not cash out on the new trend? Yoga is a group of physical, mental, and spiritual practices or disciplines that originated in ancient India.

Lots of fitness enthusiasts see yoga as a good form of exercise for the mind. But there are a few yoga studios for now, even as the need for such is on the increase.

That’s where the advantage lies; there is a huge market and less competition so far.

If you love yoga and fitness and you are looking at a profitable business to do in 2021, why not start a yoga studio?

14. ANTI-AGING SPA

If there is anything you can do to make you look younger and it’s within your reach to do it, will you be willing to do it? If you answered yes, then certainly many people will also answer yes.

This is definitely one of the lucrative businesses to start in Nigeria with little capital in 2021.

So if you are in the beauty business line, why don’t you open an anti-aging spa?

You definitely want to choose your location right. Such a business may not thrive in an area like Agege where people are preoccupied with finding their daily food. But a place Ikeja on the mainland, Magodo, and many areas on [url][/url]Lagos Island will just be suitable.

15. SKINCARE LINE

One lucrative business in Nigeria with little capital in 2021 is to start your own skincare line.

There is this ‘organic things’ movement among blacks home and abroad recently that is gaining much momentum. Nigerians are not left out!

Attaining a glowing smooth skin is no longer the reserve of rich celebrities who can afford to spend money on expensive imported creams.

for the full detail, see the full article here: https://ideaslane.com/lucrative-businesses-to-start-in-nigeria-with-little-capital-in-2021/

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