Updated; 21th January 2018. As I promised, I will keep updating this article on Successful Small Businesses in Nigeria with less capital startup. So after another year of research on successful businesses in Nigeria, I add below additional successful profitable businesses to start in Nigeria 2018 to the already existing list of small businesses I earlier discussed.
- Fast food Joint and eateries business – Eateries is one of the fastest incomes yielding business in Nigeria. The business is a ‘quick to start’ type of business. The startup capital varies. It depends on the categories of your customers you wish to cater for. If you wish to serve High class customers then you need huge capital to start up such eateries. However, if you target customers are low income earners then you need little capital start up. Eateries business is rampant in places like Abuja wuse and Garki, Lagos Ikeja and Ikoyi, Kaduna, Ibadan, Kano, Aba etc. These are big cities in Nigeria and the business is well patronized there.
- Sackets water packaging and selling business (the capital input might be a bit high). You need sterilizing and packaging machine, tanks for storing water, distributing bus or truck etc. So, this requires considerably huge capital.
- Importation /Mini-importation business (seriously affected by exchange rate). Many people starts on a low scale importation (mini-importation) and finally grow to become large importer of different products.
- Product sales, distribution and marketing (the capital input might be high). However, you can negotiate with the producers or manufacturers of such product(s) to reduce start-up cost.
- Mobile phone accessory business (though no longer as lucrative as in the years back). If you intend starting Mobile phone accessories business, you can go through our articles on ‘how to start mobile phones accessories in Nigeria’ and ‘the mobile phone accessories business plan’.
- Cloth designing and Tailoring – This business requires skills. So, the first step to your success is to acquire skills. Once done, boom! You’ve made. Cloth designing and tailoring is often neglected business that is highly paying and the good thing about it is that you can start on a small scale.
“Rome wasn’t built in a day. It takes time — sometimes years — to master a skill, craft, or habit. And while it’s good to keep perspective on your dreams, I think it’s better to remember the other side of this story”
Ask how any multi- national company or big corporation began, you will discover that they all started from nothing. Becoming successful in any small business in Nigeria is a difficult task; it requires serious dedication, hard work, having the right mindset and taking the right steps. I have earlier discussed some of the right steps you can take to begin a profitable small business in Nigeria.
Are you a Nigerian looking for small business that you can start with little or no money money. Are you an entrepreneur searching for small business to invest on? Do you have small amount of money but you don’t have any business idea. There are lots of small business opportunities in Nigeria. Here are list of most Successful Small Business in Nigeria with little capital investment and some with no money startup.
If you are dedicated with this business, you won’t mind putting up extra hours into it and definitely you will succeed. Be passionate about your business and you succeed. Try to visit other people who are in the same business with you, share ideas with them so that you can be updated on the current trend in the business. These are secret of any successful business.
Below are Successful Small Businesses in Nigeria you can start in 2018 and beyond; I have group these businesses into sector by sector for easy comprehension.
SMALL PROFITABLE AGRICULTURAL BUSINESS-Small Agricultural businesses are the most successful small business in Nigeria that requires little capital start up. Most of the major inputs are space (land), water and the viable breeds (crops and animals). The businesses can be started as a sole-proprietor and then grown to Limited Liability Company.
Here are small lucrative Agricultural Businesses
1. Poultry farming business
2. Fishery Business (catfish and Tilapia Rearing)
3. Snail Rearing Business
4. Piggery Business
5. Dog Rearing and Breeding Business
6. Livestock feed production
7. Floral business (Growing flower )– the best floral money-makers, include:
• Cut flowers
• Woody Ornamentals
• Flower bulbs
8. Maize processing Business
9. Rice Milling Business
10. Cassava processing Business
11. Palm oil Processing Business
LUCRATIVE SPECIAL BUSINESS SERVICES-The major inputs or materials for this type of business include: canopies, chairs, tables, stools, table dress cloth, big cooking utensils, and ribbons for hiring and manpower. These types of businesses are not difficult to start. It will best suit women than men but anybody can start the business.
12. Rental Service Business
13. Event Management business
14. Party Planner and Event Planner Business
15. Bakery confectioneries
SUCCESSFUL EDUCATIONAL SECTOR BUSINESS-The major inputs in these businesses are computer, manpower and space.
16. Home tutoring and Coaching Business
17. Tutorial and Lesson centre Business
18. Catering centre and Catering school business
19. Nanny Service and Day care centre
20. Self empowerment centre and Workshop centre
21. Computer and business school
COMPUTER AND TECHNOLOGY SERVICES BUSINESS-The major materials needed are computer or laptop, sets of screw drivers and testers, printing machine, phones and mobile phones, internet connection and manpower.
22. Computer repair and services Business
23. Mobile phone repairs Business
24. Mobile apps development
25. Games development
26. Graphic Designer and Printing business
27. Directory Publisher
28. Mobile money agents business
PROFITABLE SPECIAL PRODUCTION BUSINESS
29. Liquid soap production business
30. Perfume, and body ornamental production business
INTERNET BASED SERVICES BUSINESS
I have written a post on 20 Ways of Making Cash Online in Nigeria; these are all internet based Businesses and they are specified means of making money online in Nigeria. These internet based businesses may require little or no capital to start them up. You can actually make money online by those ways if you are dedicated and hardworking. There is no hard and fast rule about making money online.
In conclusion, I believe that what you have read above will be resourceful to you.
There are other lucrative and successful small businesses in Nigeria which any serious minded entrepreneur can do. All that are needed are determination, diligent and hard work.
I wish you good luck as you set to start up any of the above successful small business in Nigeria.
N.B: I will keep this article updated yearly.