Making the rounds on social media is Nigeria’s current unemployment rate. According to Bloomberg, the rate of unemployment in Nigeria has moved to 33.3% that makes more than half of Nigeria’s Labour force unemployed.

What this means is that you probably know at least one unemployed person. Sadly, thousands of graduates join the pool of jobseekers yearly with little hope of gaining employment that same year.

If you are currently out of a job, starting a business might seem like the quickest route to self-sustenance. If you do have a job, a side hustle is an added security. We have even seen situations where side hustle became the main hustle.

If you are ready to start a business but wonder what to do, here are 8 businesses you can start with under ₦500k.

PASTRY BUSINESS:
Capital expenditure would go towards owning an oven, baking tools and materials, and the cost for actual ingredients can come from an advance fee from your client.

FOOTBALL VIEWING CENTRE:
The most expensive capital project would be the shed which can cost as much as ₦300,000 depending on the size. Televisions are usually used units, and the cost of a DSTV dish plus a premium subscription for two decoders is about ₦50,000. You can save costs by constructing your shed close to adjoining walls.

WEB DEVELOPMENT:
With a high-end laptop of about ₦350,000 and a few hours on Youtube, Udemy or any other self-learning site, you can be on your way to becoming a web developer using content management systems like WordPress or Joomla.

HIRE PURCHASE:
Buying a work machine, a motorcycle or some other equipment for another person’s use while you get daily or monthly remuneration can help you get along just fine.

DELIVERY SERVICES:
This is a tricky one, as the cost for the motorcycle alone could almost exhaust your capital. The thing is to make sure you get a good deal for the bike and negotiate your rider’s salary. Use your immediate network to start and ask for referrals.

FOOD VENDING:
Food business would always sell. All you need is capital for the disposable plates, stickers and ingredients and you’re well on your way. Oh, you need to know how to cook ... read more plus funding options on https://lotto27.com/8-businesses-start-with-%e2%82%a6500000/

Nice one

Nice 1