10 Businesses You Can Start With 50K In Nigeria – [Updated]
What are the businesses you can start with 50k in Nigeria? This present world requires you to own your own business if you really want to be sufficient financially, there is nothing you can use to compare you having your own business and being your own boss.
As a novice you definitely want to work with people to earn, that isn’t bad, you might be looking for a government job to earn salaries and get gratuity and so on, that isn’t bad either.
You need that kind of job at a particular time of your life or to raise capital for you to start something better. The thing is you do not actually need to look for jobs if you have something that can serve as capital for a new business no matter how small.
Why Do You Need To Start Your Own Business?
- Operating your own business gives you the opportunity to do things at your own pace.
- There is no limit to what you can earn.
- When your business booms you also employ others.
- You put your all into it which usually guarantees success.
- You contribute your quota to the country’s economy etc.
The economy of Nigeria is at its worst and this is affecting everything in the market, foodstuff, utility bills, children’s school fees, transportation and many more, this is because of the lack of jobs in the country.
Year in year out we have hundreds of thousands of new graduates leaving the university while the last batch of graduates is yet to find a job for themselves. The government policy is affecting the whole nation as the country doesn’t export definitely the currency loose its value which makes everything expensive even while there are no jobs for people to earn from.
You do not want to continue this kind of a trend which is now seen as a norm, you can actually start a business and pull yourself out of the senseless struggle of a job search or working to earn peanuts.
Read Also: 20 Businesses You Can Start With 10K In Nigeria
For you to find yourself on this article it is very clear that you want to do something different but you may not know how to start or what to do, this is why we have taken our time to list here the best businesses you can start with 50k in Nigeria.
Businesses You Can Start With 50K In Nigeria
Below are the businesses that can generate passive income which can be started with as little as 50,000 Naira:
1. POS Vendor (Point Of Sale)
This is one of the best businesses you can start with as low as 50k in Nigeria, more like you operating a bank. There has been a very high demand for POS in our respective neighborhoods as getting things done through the banks now takes full day, aside from that you need to queue for hours to get any amount of cash. This is the reason why people prefer the POS vendors as you do not need to take any form of transportation to withdraw or send money to people.
People now prefer using a POS agent for a token than to embark on a journey to the bank while there is an agent close by. This guarantees speed in transactions. With as low as 30k or lower you can get yourself a POS machine with any bank of your choice.
Once you have your POS machine you can use the remaining 20k as a working fund, mind you, there is no need to rent a shop, once you have made some cool cash for yourself then you can plan on getting a shop. Read more below.
Read Also: How Can I Start A POS Business In Nigeria?
2. Recharge Card Vendor
There is a little similarity between this and the POS vendor business, as we know a vast majority of Nigerians buys recharge card daily and this is an opportunity you can take. For as low as 50K you can start your recharge card business.
What you need to do is to buy recharge cards in bulk as a wholesaler then you sell to retailers or individuals. Alternatively, you can also get the recharge card pin codes from various telecommunication companies in Nigeria at much more cheaper rates then you do the printing yourself while some of these companies will help you print with your customized name on it.
3. Internet Data and Cable TV Vendor
This is another wonderful and profitable business you can start with 50k in Nigeria, to make more sales you can do it together with the POS business. All you need to start this business is your mobile phone and you are good to go. If you do not have a space to start the business you can make use of social media platforms like Facebook, Instagram, Whatsapp and so on.
Your business is based on helping people to subscribe to their Cable Television like DStv, GOtv, Startimes and also Internet data subscriptions for popular ISPs in Nigeria like Airtel, MTN, Glo and 9Mobile, once you are known by someone he or she will prefer your help to do the renewal wither weekly or monthly.
4. Start A Mini-Mart
You can start your small-scale mini supermarket with as low as 50K, most of the successful people you see in the country started small and there is nothing stopping you from not doing the same.
With as low as 50K you can start a mini-supermarket where you sell foodstuff or other things you can easily sell from your home, to make your sales huge you can also take your wares to places where there is a high influx of people like the market, mosques, churches, schools and so on.
Read Also: How To Start Hair Cream Production In Nigeria
5. Food Vendor
There is no doubt about this selling of food is one of the most lucrative businesses in Nigeria, we have the population and humans must eat. Most people do overlook this as if it is a trashy business or something that poor people engage in, you have no idea of what you are missing most especially if you are the type that knows how to cook nice delicacies.
The most suitable part is you do not need a space to start a food business, you can start small as a mobile restaurant or you take your food to where it is needed, places like schools, markets, offices, parks, etc. Once you are able to make a good income for yourself you can then get a shop in a location close to where we have a high influx of people then you will never wish to quit the job.
If you are the type that enjoys baking and frying then doing what you love most as your business is the coolest thing as you enjoy doing it and at the same time make money out of it. For as low as 50k you can start baking some snacks and selling them.
7. Popcorn Vendor
This is another profitable business that can generate good income for you, what matters most is positioning yourself to get to direct consumers or you sell it in bulk. A popcorn machine in Nigeria currently costs about 40k or less, once you get yourself one then your business can kickstart, you can also check with cinemas around you or sell in other places, selling out popcorns is the easiest.
8. Soap Production
This is another one out of the businesses you can start with 40k in Nigeria, soap is a necessity and will always be purchased so why not take advantage of that fact?
With as low as 50k you can start a soap-making business, there is no need for a big space or fancy tools, just get the basic knowledge required to efficiently make soaps like bar soap, liquid soap, and even detergents. After you have your finished products you can take it to the supermarket, schools, offices, homes, etc.
9. Grilled Meat or Fish
This is a type of business that is now being done by graduates, it assures you of good income and you can easily grow big with it. If you have the knowledge of grilling then you can do this with as low as 50k, you can buy some goat meat, chickens, fish etc., and have your unique sauce and fried potatoes to make it perfect.
Once you are set your customers make their preferences and you serve them based on their request, this is a very profitable business that many do not pay attention to.
Read Also: 10 Businesses You Can Start With 100K In Nigeria
10. Candle Production
This is an old business yet still very lucrative, many people need candles for light, some for prayers and some for aesthetics, this means it is a product that has demands and you can make them and sell. You gather the needed knowledge to make candles and then sell to restaurants, individuals, and even churches. For as low as 15k you can get a candle mold and the remaining money you get your materials.