15+ Small Business Startup Ideas in Nigeria in 2023

Table of Contents Hide

What is a Small-scale Business in Nigeria?
Best Small Business Ideas in Nigeria
Which Business Can I Start with 50K in Nigeria?
What Can I Start with 20K?
What Business Can You Do with 30K?
How to Turn 10k into 20k?
How Can I Make a Daily Income?
What Business Can I Start with 5K in Nigeria as a Student?
To Sum It Up
Related Articles
References

Are you a Nigerian business enthusiast with little or no funding seeking small-scale business ideas to start? 2022 has passed, and as we set sail for the new year 2023, we all have hopes and aspirations, and making millions is most certainly one of them. This article will show you not just small scale business ideas, but also business tactics for getting them off the ground.

Some people are naturally concerned about starting a new company or making a business investment with little or no money. They may understandably have reservations about the business’s viability. I’ve created a list of feasible and profitable small business ideas in Nigeria that you may start with little or no money.

What is a Small-scale Business in Nigeria?

Small-scale enterprises are privately owned businesses that require little capital to start, have a small number of employees, and operate autonomously within a small geographic area.

If you’re thinking about whether you should start a small business today, here are three signs:

#1. You already have the skill.

Many of these enterprises, such as hairstyling, catering, and individual tutoring, require little or no capital to get started.

For example, you can start a home-based hairstyling business for less than 5,000 naira. The most significant aspect is that you understand how to plait hair.

#2. You want to be your own Boss

Starting a small business is the greatest option if you want to work on your own terms, set your own hours, and create something for yourself. What’s more, you don’t even need a business partner to get started.‍

#3. You’re reading this blog post

Accept it. You clicked on this link because you know deep down that you’re ready. Now all you have to do is go over our shared small business ideas in Nigeria and get started.

Best Small Business Ideas in Nigeria

Profitability is one of the factors to consider while beginning a business. The last thing you want to do is invest in a business idea that will not generate a profit.

If you are considering starting a business, here are some of the greatest small business ideas in Nigeria to consider:

#1. Poultry Farming

For centuries, the agriculture industry has been a gold mine. Furthermore, for those who do not want to go through the hardships of crop production, there are several lucrative agricultural options available, one of which is chicken farming.

Poultry farming has a significant and consistent market in the food processing business in Nigeria, Africa, and all around the world. Chicken, turkey, eggs, and other similar products are in high demand in hotels, restaurants, local grocery stores, and residences. You will be able to create a lot of income from chicken farming if you carve out a specialized market for your SME.

#2. Rental Services

In Nigeria, the rental services business is diverse, including automobile rentals, canopies, and chairs for events, as well as houses. Because of the enormous number of events held in the region, chairs, tables, and canopies are the most commonly rented materials in Nigeria.

Starting a rental services business necessitates simple tactics. It is a business that anyone in Nigeria, Africa, or elsewhere in the world may start, particularly if you specialize in renting canopies, tables, and chairs. However, make sure to locate the business in a major city where parties are common.

#3. Snail Farming

Snails come in a variety of species that are ideal for growing. The traditional method of hand-picking snails for sale has not been able to meet the global annual demand, resulting in an increase in snail farming. Nigeria alone eats around 7.5 million kg of snails every year, resulting in a high demand for snails.

Starting a snail farm in Nigeria, Africa, or anywhere else in the world is not difficult. The only way to get started is to start with a bang! Get them a proper housing unit with adequate food and humidity. They will lay thousands of eggs and generate a large number of progeny over time. Snails hibernate largely during the day, so you can work and raise snails at the same time.

#4. Sports Viewing Center Business

The growth of sports has produced several business opportunities for people all around the world. Individuals in Africa’s villages, towns, and cities who do not have direct access to sports networks must rely on watching centers.

All you need to get started in this business is a decent location, a suitable structure, chairs, and game-showing equipment. You’ll gradually gain a constant stream of viewers.

#5. Makeup Business

The beauty industry has advanced so drastically over time that makeup is no more just another beauty item, but a creative art form that is a major component of various sectors. Makeup artists are frequently used by models, artists, photographers, actors, and other professionals.

Similarly, makeup artists are required for special occasions such as weddings and birthday parties. One additional benefit of beginning a cosmetics business is that you may train individuals and earn money through makeup training sessions.

#6. Laundry Service

The laundry business is another profitable small-scale business in Nigeria, Africa, or anywhere else in the world that practically anyone may start. To thrive, this business requires little technical knowledge or business techniques. You can start the business with simply one or two employees, but you can choose to increase your staff strength over time for increased production.

All you have to do is locate your business in a convenient location in town, preferably in areas dominated by office workers who have little or no time to spare for laundry.

#7. Food business

Food restaurants are another profitable business to consider, particularly if you enjoy cooking. The food business is a broad sector, and there are numerous methods to establish yourself inside it.

It’s possible to get a job in the restaurant industry if you’re willing to put in the time and effort. Another alternative is to start a low-cost mobile food seller business. One of the benefits of mobile meals is that you are not confined to a single location. You can travel from one site to another and serve cuisine at reasonable prices to differentiate yourself from your competition.

#8. Catering Services

Catering services are also a part of the food business and may be highly profitable, particularly if you enjoy cooking. If large-scale cooking isn’t your strong suit, you can employ expert caterers, get some culinary equipment, and market your brand. Many families require catering services, particularly throughout the holiday season, and after you’ve worked with one client, receiving referrals will be a breeze.

#9. Frozen Food Sales

Selling frozen meals such as chicken, turkey, gizzards, and fish is one of the finest small business ideas in Nigeria in 2023. You don’t need any unique skills or a huge amount of money to start this business. To receive your frozen food, all you need is a deep freezer and a provider.

#10. Cooking Gas Business

Because many Nigerian households use gas cookers, there is always a demand for cooking gas. This is a simple business to start, and you can start small by filling gas cylinders for people in your community. You can also sell gas cylinders and cooking equipment such as pots and hoses.

On a broad scale, you can open a gas station in a desirable location with little competition.

#11. Online Advertising Firm

Advertising is one of the most profitable low-capital enterprises in Nigeria. Every business wants to reach a larger audience, and you can help them achieve that objective by establishing an online marketing agency.

Online advertising does not have to be large or complicated, especially if your primary target market is Nigerian small business owners.

To start small, you must amass a huge following on social networking platforms such as Whatsapp and Instagram. Then you can assist other business owners in running advertisements on your page to reach your target audience.

#12. Hair Dressing Business

To operate a hairdressing salon, you must be a professional hair stylist or hire one or more stylists. Hair is a vital component of people’s beauty, thus they go to great lengths to keep it in the finest condition possible.

Depending on where it is set up, the hair styling business can be a highly profitable small-scale business opportunity. You can also educate apprentices and recommend and sell clients accessories, wigs, and hair care products.

#13. Ice Block Production

In most parts of Africa, where power is intermittent, ice blocks are the only choice for cooling foods and drinks. They are also inexpensive and simple to operate. As a result, the ice block manufacturing business has a consistent market in Nigeria and other regions of Africa.

To get started with ice block production, you’ll need to invest in equipment, a factory location, some employees, and a delivery truck.

#14. Pure Water (Sachet Water) Production Business

In most regions of Africa, pure water is more than simply a commodity; it is a vital aspect of people’s daily lives. You’ll find a constant demand in your neighborhood whether you sell in sachets or bottles.

To increase your chances of success in the market, you would also require the services of delivery persons to deliver to retail shops, restaurants, food sellers, and other locations.

#15. Photography Business

Photography is a fun and profitable small-scale business that anyone in Nigeria, Africa, or anywhere else in the world may start. It involves little beginning capital, and you can even get started with creative photos on your phone.

However, in order to produce high-quality results, you must invest in a high-quality camera, a computer for editing, and a few other tools. Aside from covering events, you may make a lot of money by selling your photographs on major websites like iStock Photo and Etsy.

Starting a social media marketing business requires a little more than the usual necessities for being on social media: your devices and high-speed internet access. After you’ve established the fundamentals, you can choose which web platform to employ. Keep in mind that the platform of choice is influenced by the type of products or services in question.

You may also develop compelling adverts to broaden your reach and attract the perfect clients for your business in Nigeria, Africa, or anywhere in the world.

#17. Copywriting Business

The copywriting industry has developed tremendously over time, as brands, corporations, and individuals continue to recognize the value of outstanding copy for their businesses. Individual copywriters and copywriting agencies are in high demand to create compelling ad copy for small and large enterprises, speeches for politicians, email text for businesses, and other projects.

Starting a copywriting business necessitates solid copywriting abilities, which may be obtained on reputable learning platforms such as Coursera and Udemy.

Which Business Can I Start with 50K in Nigeria?

Businesses You Can Start With 50K in Nigeria Online & Offline including:

POS Business.
Mini Importation.
Selling Dresses.
Cooking Gas Business.
Open A Provision Kiosk.
Become a Real Estate Agent.
Cook-On-Demand Business.
Perfume Oil Sales.

What Can I Start with 20K?

Profitable Businesses to Start with 20K in Nigeria include:

Pop Corn Business.
Phone Accessories Business.
Selling Men’s Underwear.
Recharge Card Business.
Small Chops Business.
Bead Jewelry Making.
Making Refreshing Drinks.
Perfume Oil Business.

What Business Can You Do with 30K?

Businesses You Can Start With 30,000 Naira include:

Popcorn Business.
Fairly Used Clothes (Okrika) Business.
Dry Cleaning Business.
Snacks Business.
Local Soft Drink Business.

How to Turn 10k into 20k?

These are how To Turn 10k Into 20k:

Flip Stuff For Money
Invest In Real Estate
Start An Online Business
Start A Side Hustle
Invest In Stocks & ETFs
Invest In Debt
Invest In Cryptocurrency
Use A Robo-Advisor.

How Can I Make a Daily Income?

Your money can generate enough income to support you on a daily basis through investments. Bank accounts, certificates of deposit, stocks, bonds, ETFs, and real estate all provide ways to generate money without actively working for it. Each investment option provides a unique combination of safety, liquidity, and income potential.

What Business Can I Start with 5K in Nigeria as a Student?

The Internet, social media, and social networking sites are the greatest companies to start with N5,000 for a Nigerian student. Because of its simplicity, the Internet provides an open marketing environment that allows the promotion of a wide range of commodities and new ideas for young people.

To Sum It Up

Small-scale enterprises make substantial contributions to the local and global economies. They employ billions of people globally and provide part-time work for millions more. Some small businesses do not require a physical site, but many do. If you want to establish a small-scale business in Nigeria, Africa, or anywhere else in the world, you can pick one of the 15+ small-scale business ideas presented in this article and get started right now!