20 New small business ideas that would make you money

A business idea in Nigeria and its subsequent launch may be compared to a goldmine that offers individuals the chance to tap into a better way of life in a nation where monetary deficiency and joblessness have emerged as the norm.

Had anyone observed that, in despite popular belief, obtaining finance does not pose the biggest obstacle to establishing a business? The main roadblock is coming up with a fantastic ideology.

If you have enough money but no clear business plan, there is a high likelihood that you will invest in a venture that won’t yield profitable results, wasting your money.

The economy and corporate development have benefited immensely from marketing.

Now that every aspiring entrepreneur must set aside time to explore lucrative business ideas before investing in them.

Top business ideas to start in Nigeria with low investment and huge profits

Also read: All you need to kickstart your freelancing career latest guide,7 more search engines that are better than Google, 7 evergreen freelancing skills that can make you money

1. GRAPHIC DESIGN BUSINESS

Consider starting a graphics design business if you enjoy the visual art and are resourceful. Anyone can gain knowledge from beginning especially if you have no prior design skills.

The technique of using visual communication to convey a certain message is known as graphic design. To get a point over to a crowd, it mixes several aspects.

Graphic designers work for businesses, governmental institutions, political figures and parties, as well as almost every other sector of human effort.

When considering a career in graphic design, it’s necessary to familiarise yourself with its foundational elements, including structure, coloring, typesetting, line segments, forms, balancing, texturing, aligning, proximity, and juxtaposition.

Similar to certain other technology skills, learning graphic design can be done anywhere; having a specific shop or workspace is not necessary.

You could perhaps find someone who knows graphic design in many different ways, such as by watching graphic design videos on YouTube and by reimbursing a specialist to teach you in mentor classes the fundamental concepts of graphics and how to make money from the skill.

Your laptop and smartphones will be necessary tools for realising the business concept. For laptop design, you’ll need programmes like Corel Draw, Adobe Photoshop, Adobe Illustrator, and a plethora of other programmes of a questionable nature, while you’ll need programmes like Canva, Pixellab, and Logo maker.

2. Copywriting

One of the most lucrative internet businesses in Nigeria that you can start with little investment is copywriting. If you have good literacy control and strong writing competences, this business will be your passport to financial independence.

Writing for advertisements, blogs, videos, presentations, direct mail, jingles, creative content, and other types of media are all examples of the copywriting business.

The major responsibility of a copywriter is to blend text in a way that will convince or advocate a specific product, opportunity, sector, or campaign. Even the most well copy has the power to transform any goods and services.

Depending on the industry and type of text, a copywriter’s salary in Nigeria might range from 100,000 to 300,000 naira.

As a complete beginner copywriter, you can use hot presentation, event presenting, applying for a position on a freelancer career site, and marketing your brand on authoritative websites to attract clients.

3. Cloth selling

It is impossible to overstate how important clothing is. Consequently, it is one of the profitable business ventures in Nigeria that can be launched with a very small amount of money (between 50,000 and 100,000 naira).

4. Digital marketing

The focus of digital marketing is marketing online. It is one of the company concepts in Nigeria that is expanding due to a significant rise in demand.

Digital marketing makes use of social media and other internet channels, as opposed to conventional marketing, which connects with customers through encounters and conversations. It brings together the strength of SEO, content, emails, and many other skills to produce a significant online photocopy for industries.

Entrepreneurship is much simpler if you possess skilled in digital marketing. You could perhaps, notwithstanding, set aside time to study and implement ideas with Small and medium enterprises in your area. Almost any industry uses expertise in brand awareness.

5. Website design

For the purpose of promoting their goods and services, many businesses require at least a basic website. In light of the foregoing, if you excel in both code and design, this is your best option. You may run this business from the comfort of your home and make a solid living. For countless opportunities, use freelance services like Upwork and Fiverr.

6. Content marketing

Over 70% of companies employ content marketing, a significant aspect of digital marketing, at the moment.

In order to increase potential customers’ knowledge of a brand, it entails the development and dissemination of information (writing, video, and photographs) on digital platforms. This is a small aspect of a broader effort to turn potential clients into paying clients.

A content marketing proficiency would put you in high demand right away. To start this business, you don’t also need a lot of money. The ability to use technology is crucial.

7. Phone repair

You will purchase your phone repair equipment and begin earning decent, honest money with only a little training and investment. The ability to communicate effectively is another thing you’ll need to get consumers and quickly grow your agency.

8. Blogging

The blogging industry is one of the most successful in Nigeria. The blogging industry may be your best bet if you’re wanting to generate money online. It doesn’t take much money to start a blog business.

Start a blog if you are a good writer or possess the ability to become one. Nigerians can find success by blogging. All you would want is a laptop, a significant amount of time, a connection to the internet, decent research skills, and a passion.

The most crucial and possibly most pricey investment you can make in a blogging profession is your time. Create a blog for free using Content management system or Website builder, or if you have the funds, host it yourself. Then, fill it with valuable content, drive traffic to it, win readers’ trust.

All that would be required of you would be to purchase a domain name and hosting, select a blogging platform (like WordPress), create and launch your blog, and then begin publishing material.

9. Affiliate marketing

Anyone may start this successful internet business with little to no effort, making it a great way to earn money. If you’re considering ways to earn money online in Nigeria, affiliate marketing need to be among them.

A person who assists businesses or people in selling their goods so they can profit financially is known as an affiliate marketer.

Both physical and digital goods are eligible for sale here on the internet. The number of affiliate programmes you join up with is up to you, and you can use your affiliate links to advertise the products on social media or by building specific websites. Through affiliate schemes, a lot of people in Nigeria have made millions.

10. Email Marketing

Starting your own e-mail marketing agency now and providing your clients with superior services and tested results will greatly improve your chances to capture a sizeable share of the market over the coming years as acceptability of e-mail marketing as a method of advertising is anticipated to increase.

11. YouTube channel

Creating a YouTube channel is a fantastic way to earn money at night. The target audience’s frequent YouTube searches and the niche you should concentrate on should be determined.

Due to their failure to go through the learning process first, many people experience frustration when trying to monetize their YouTube channel. You can’t just smile and wave a miracle button and begin getting money.

12. Information Marketing

Do you possess any information that others lack, that others possess information that you can convey in a different way, or that you know of someone who possesses information that others may not possess?

By putting the material into the form of a document, ebook, video, or audio and selling it online, you can be well on your way to becoming financially successful. It is one advantage of having expertise in digital marketing.

13. Mini importation

The internet has changed how we do business. By importing goods online from retailers like Alibaba, AliExpress, and others, many people have found financial success.

People in this industry continue to enjoy life to the financial institution despite the Naira’s declining value. You can purchase a wide range of different goods, such as cosmetics, clothing, and phone accessories and sell them in Nigeria.

14. Sports betting

Nigerians take advantage of their love of football to make sports betting a multibillion dollar industry that allows people to take part in the game they love while also making money.

This explains why there are more sports betting companies today as well. For sports betting companies to connect with players directly, agents are required. You must have a generator, a computer, a printer, an internet connection, and a fixtures board in your workspace.

15. Gym training

Today’s population does not generally take their health for granted. Thus, if you can make health and fitness a profitable venture, you can profit. Particularly in small towns, there aren’t as many well-equipped gyms.

Install a cutting-edge gym as soon as you can, and your company will quickly become a success story if you can get your hands on some funding. On the other hand, you’ll either have someone on staff or recruit someone with the necessary training.

16. Start selling mobile accessories

The sale of mobile phone accessories is currently a very profitable business in Nigeria. In Nigeria, mobile phone usage is anticipated to significantly rise in the future years. On occasion, new cell phone owners could need a range of accessories.

17. Dry cleaning business

Dry cleaning is one of the sectors in Nigeria with the quickest growth. People frequently experience work overload, making it possible that they lack the time to wash their clothes. For this reason, the dry cleaning sector is still in demand.

18. Agro business

You can start a business that is associated with agriculture, such as crop farming. Since everyone needs food, there will always be a need for this industry. In Nigeria, commercial agriculture is a very profitable sector of the economy.

Conclusion

In Nigeria, managing a profitable business depends heavily on your interpersonal skills. You should take into account crucial elements like your surroundings and the requirement for your service. The most crucial thing is to choose an activity that you enjoy and that will yield a healthy positive cash flow.

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