One of the common barriers to entering into business is capital. But a lot of aspiring entrepreneurs are beginning to realise that capital isn't the biggest barrier. Knowing the right business for the available funds is a bigger reason why a lot of people are not in business yet.

Capital is important but capital alone cannot guarantee success for your business. Putting a small amount into the right business improves your chances of success.

While you might think sourcing for huge capital is the first and most important step towards starting a business, most times you don't have to run around for capital. Your little savings can do the magic and I'll show you how.

There are a number of businesses that you can run successfully with as little as 50,000 or less and here are my top picks.


1. Mini importation business (with a new hack�)

If you can identify a product that meets a need then there's an opportunity for you to explore and make good money.

Mini importation thrives on your ability to discover valuable products that are not so common. The trick is taking advantage of the scarcity to make huge gains.

This business requires more research than capital. The easiest way is to spend time on websites like Alibaba, AliExpress, DHgate, Amazon etc researching products that meet these criteria; valuable, scarce and affordable. You can buy and ship them to Nigeria and start selling them for huge profits.

If you're new to importation and you're not conversant with the logistics involved, another way is to partner with established importers to buy directly from them. The prices are almost the same in many cases and it saves you the risk of goods getting lost or damaged in transit. There are platforms in Nigeria where you can connect and partner with importers and suppliers locally. An example of website dedicated to this www.gotahia.com, there are a handful on jiji and a careful research on Instagram might get you a few.

Follow the thread for 2 and 3!

Yes, it's time for number 2, this one is popular among entrepreneurs for good reasons and you'll not only learn how start yours but how to cope with the possible challenges.

2. Dropshipping

Dropshipping is another business you can easily start with little capital. With dropshipping, you don't have to buy and stock any product and that is a major money saver. In the simplest term, dropshipping is starting a retail business with no capital but succeeding in the business requires a little capital in the form of advertising and customer service. All you need to do is find products that are easily sellable and connect with the producers or major distributors on international platforms that support dropshipping. This way you can add your commission to the supplier's price and advertise the products. This puts you in control of your earnings and you earn the commissions you added every time an order is completed.
Your role is simple, get buyers, pay the supplier his price and keep the profit then the supplier makes the delivery in your name so you don't have to bother about logistics.
However, the downside to this is the delivery time it might take to reach your customers in Nigeria since the suppliers are abroad. In most cases it's between 3weeks to 3months. You will also need to build your online store or use Shopify to create one which involves some investment. An alternative is using local platforms like gotahia.com where you can connect directly to importers and distributors of different products. You might be surprised how competitive the prices on platforms like Gotahia are compared to the ones on AliExpress, DHgate etc after you factor in the shipping cost.
Another benefit you'll enjoy here is you get an online store to sell your products from.

Hmm.. what is number 3?

Please can you point me to Number 3?
I find the topic interesting and I want to see the end.

I need a supplier for perfume oils… can I find that?

Sure you can. If you have created an account you can just type on the search bar and search.

If you haven't go to www.gotahia.com/reseller

Bloomberriez:
I need a supplier for perfume oils… can I find that?

if you want to do it online, JOIN GOTAHIA SELLERS COMMUNITY

We found a real problem after talking to many active and aspiring business people: it is difficult to start or grow a business online in a sustainable way. There are many resources on the internet but you need to do a lot of work to stitch the useful pieces together.
So, we have built a community of sellers growing their business online. This is a place to learn, to practice and to leverage on the power of a community. One of things we do is post products that you can start selling now even without capital. We negotiate with the suppliers to get the best offers so you can make more profits.

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