Small and Medium Scale Enterprises (SMEs) form an integral part of our society. There are several entrepreneurs looking to establish startups, but starting a business these days can seem difficult, especially with the current economic situation in the country. When you consider the kind of business you can start and scale with minimal capital, the idea alone could be impossible. However, with #50,000 or even less, you can start a profitable business or line of businesses and significantly increase your stream of income. Here are 4 businesses you can start with the sum of #50,000 and get monetary returns.

Mini-Importation Business

Mini-Importation is a kind of business venture where you import goods from other countries like China, Japan, etc. and sell the goods in Nigeria. In this business, you tend to sell the goods at higher prices to regain your purchasing cost and also make good gains. However, you need to focus on lighter weight goods so as not to pay so much on clearing at customs. The good thing is you do not need to travel to those countries yourself to buy the goods, there are reliable sites where you can place your orders. Such websites are AliExpress, Amazon, eBay, 1688, etc.

When purchased, these products can be easily and quickly sold off on Nigerian e-commerce platforms like Jumia, Konga, Jiji and others. For instance, you could buy an item for #1,000 and sell it at #5,000. This brings your profit to #4,000. When handled properly, this business can be very profitable, as the buying and selling process can start and be completed online. You can start this business with 50k or even less, and expand as you make profits.

Noodles/Mishai Stand

This business has become a very lucrative one and many seem to be venturing into it. Although, some people have the notion that running the noodles/mishai (bread & fried egg) is for the Aboki man down the street. But that is not true and does not negate the fact that there is a huge gain in it. This is a rough estimate of what you need to start.

Location - You can start with an open space with very little or no cost at all.

Gas cooker (buying and filling) - #10,000

Plastic chairs and table – #15,000 (#10,000 for 4 chairs & #5,000 for 1 table)

Low-cost utensils – #5,000

Two cartons of noodles - #5,000 (#2,500 each)

1 crate of eggs - #1,500

Ingredients and others - #5,000

Estimate: #41,500

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