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For many people with an entrepreneurial spirit, the No. 1 reason why they don’t pursue their business dreams is because of the significant costs associated with starting a business. However, there are many businesses you can launch today with little or no funding, so long as you are dedicated and put in some good old-fashioned hard work.
Below are business ideas with zero or little capital:
- Blogging:
Think blogging is no longer a viable source of income? Think again. Tens of thousands of bloggers are creating content on topics as diverse as cooking, fashion, gossip, news, travel, film, and lifestyle. Starting a blog/vlog with a particular niche and focusing on a particular set of individuals is a lucrative business idea with great potential.
Your first step is sharpening your writing abilities, understanding what your audience craves, and learning how to write a blog post that drives traffic and brings you, readers, on a regular basis.
Also, every blogger wants their post to be found on search engine result pages without promoting the content all of the time, hence, you would need to acquire top digital marketing skills (SEO) for search engines like Google or hire the services of an SEO Expert in Nigeria.
You can start a free blog with WordPress, Blogger, or Wix or if you have the budget, set up your blog on a self-hosted server; publish quality content, drive qualified traffic to the content, get their confidence, and trust, and then monetize your blog with Google AdSense, affiliate marketing, display advertisement, or sell quality information products such as ebooks, etc.
- Okrika Bale Business:
This business is so lucrative in the sense that you could make a profit worth double the actual price of the bale. You can post the pictures online with the prices attached or you can sell them individually to people. Okrika will always be bought due to the state of the economy. Hence it is a lucrative business to start in Nigeria today. Lagos, Onitsha, Kano, and Aba, have good markets to purchase a bale of clothes for sale. The start-up capital may vary as it depends on you. It can be as little as 20,000 to as much as 200,000 Naira.
- Egg Supply and Distribution:
Egg supply and distribution isn’t a bad idea. You can as well own a poultry farm to make things easier for yourself and you can be supplying the eggs to hotels and to retailers. However, you can buy from poultry to resell to retailers for starters.
Egg is consumed on a daily basis and it is a good source of animal protein. Apart from that, eggs are used in the manufacture of products such as soaps, confectioneries, cosmetics, hair conditioners, shampoo, glue as well as face masks, etc.
- Affiliate Marketing:
This online money-making opportunity is a profitable business in Nigeria that anyone can start with little or no capital. An affiliate marketer is one who sells a product that he does not necessarily own but earns a certain commission on it for selling. The affiliate products could either be digital or physical products. You can sign up with more than one affiliate program as your capacity can carry and use your affiliate links to promote the products through social media or by building dedicated websites to drive traffic and generate quality leads through SEO. One of the most popular Affiliate Programs in Nigeria is Expertnaire. Many people in Nigeria have become millionaires through the Expertnaire affiliate program.
- Freelance Content Development / Ghost Writer:
Do you consider yourself a wordsmith? Setting yourself up as a freelance content developer could prove to be a side hustle or maybe even a full-time job. This is one way to make money online as a student.
Companies such as media agencies, blogs, and startups will pay big time for someone who can write a clean copy of content, whether it’s for advertisements, websites, or blogs. Some will even pay you for your editing services.
- Dropshipping business:
Dropshipping business is a very lucrative business. It gives you the opportunity to run your own online shop without a warehouse or the need to have products.
All you have to do is open an online store, then copy inventory from manufacturers or suppliers and put them in your online shop. If anyone orders, the supplier will ship to them and you get your money!
You can start an online shop with WooCommerce, Shopify, or any other platform.