Businesses you can start with 100k

Businesses you can start with 100k
Image Credit: Yalen

In this day and age, you don’t need to save millions of dollars or approach banks before you can start a business. This is because even the banks hardly give out loans to new businesses, especially when you can start with as low as 100k. So, your options are basically limited to funding from investors or applications for business grants.


However, a more viable option for most entrepreneurs and startup businesses falls down to personal savings and windfalls; which hardly gets you anywhere.

But half the time, the problem isn’t necessarily with the funding. It often starts with the kind of business idea. There are wonderful business ideas that don’t really excessive startup capital. And you can actually kick start some of these businesses with as low as 100k.

Lucky you, this post will give a handful of those business ideas that can be started with as low as 100k.

#1. E Payment/Agent Banking


This kind of business is now very popular in Nigeria. This is largely due to the fact that bank deposits and withdrawals have become a tedious task. Transactions in the bank almost take forever to get done with. You have to be there on time, follow the covid-19 protocols set by the bank before gaining access into the banking hall. All these often take up to 30 minutes to accomplish and yet you’ll still have to wait in the queue for close to an hour or even more to get your problems solved.

Well, some years ago, people had to deal with all of these in silence but now, the story is different. They now have the option of patronizing the e-payment/ agent banking centers, for a fee though. Something they pay with joy considering the time they are gaining using this system.


Starting up this type of business doesn’t cost much if you follow the right approach. The major tool you will be needing for this business is a POS machine. This machine can either be bought from the market, gotten directly from the bank as an agent or gotten from e-payment companies for a price. After linking the machine to your bank account, it will enable you to carry out debit and credit transactions, pay utility bills, and so on.

#2. Popcorn production business

Popcorn is one delicacy that is consumed by a majority of Nigerians. They are sold and consumed in cinemas, parties, restaurants, etc. The popcorn business has not gone out of style. In fact, right now, a lot of popcorn makers are now coming up with different flavors to come up with a unique taste.

This business is surely going to put money into your pocket if located in an area filled with teenagers and youths. Mostly, it is made out of corn, milk, butter, sugar, water and any preservative.

Furthermore, there are a variety of popcorn machines in the market such as the microwave popper, stovetop and hot air popper. Each of them sold at different prices. However, depending on your capacity, you may choose to go for the one that’s more economical.


#3. Mini Importation

Mini importation is one other business you can start with 100k or less, depending on your financial capacity. This business involves buying goods overseas in small quantities in a bid to sell them in Nigeria. Items like shoes, bags, watches, belts, flower vases, household items, etc can all be gotten.

Oftentimes, the processes involved in starting a mini importation business are not very difficult to master. As long as you can read and write, you are good to go.

However, you will need an internet-enabled device, be it a phone, laptop, desktop, or even a tablet. You will also need a working email address, an active bank account, and a desire to succeed in the business.

Consequently, over the years, China has become one country most people are importing from because of the low value of their currency compared to naira.

But it is important to note that, as a newbie in the business, you will need someone to walk you through the processes involved in importing your first item. They will also mentor you on the long run till you can stand on your own. And, depending on your marketing skills, you can recoup your capital between one to three months in the business if done well.

#4. Data reselling and recharge card reselling

Users of smartphones in Nigeria are increasing on a daily basis. In fact, it is estimated that in 2025, there will be about 145 million users of smartphones in Nigeria. So the market for data and recharge cards is increasing day by day.

Daily, billions of naira is been spent on recharge cards in Nigeria and its not going to stop anytime soon. With 100k or less, you can set up data reselling and recharge card printing business and start tapping into this huge industry.

Furthermore, Nowadays, people have innovated ways of selling data and recharge card, by setting up websites for it. This makes it easier for people to buy them from the comfort of their homes. It also eliminates the need of going out in search of where to buy them.

#5. Web designer/developer

This is one business that will require you to gain some programming skills. All you need to do is to invest time in learning website designing and development to become a guru in this field.

After achieving this feat, the next thing to do will be to start marketing yourself as a web designer. If it means running sponsored ad social media, blog pages, public forum, etc to enable you get customers, then, by all means, do it!!!

Meanwhile, with about 100k or lower, you can comfortably achieve this, provided you own a very good laptop or desktop computer with an internet connection to help you work.

Website designers and developers are making a lot of money right now because small businesses are seeking to gain an online presence for lead generation.

#6. Graphic Designer

Similar to website designing, your job as a graphic designer is to create visual concepts using computer software, develop designs for advertisements, posters, brochures, magazines and reports.

This is also a skill-based business because it will require you to learn to become a graphic designer.

Graphic designers are sought after as a result of the value they provide through their amazing designs and concepts.

However, to become a graphic designer, you will need a good laptop or a desktop computer, designing software and tools, an internet connection, and a passion to succeed. This business, just like web designing can be done remotely and in a conducive environment that sparks creativity.

#7. Content Writer

If you are a passionate writer or a storyteller, then this one is for you. As a content writer, your job is to develop clear, captivating, and concise content for your readers while getting paid to do so.

You can as well invest your money and time to become a good content writer if you are not one. With 100k or less you can set yourself up to start receiving gigs on Fiverr and Upwork. Basically, businesses are looking for content writers that will be responsible for churning out content on their websites and social media pages. You don’t need to pay any rent to start, it can be done remotely. All you need is a laptop or a desktop computer, an internet connection, and a brain filled with ideas.

#8. Phone Repair

The phone repairing business is definitely a very lucrative business. With a lot of luxury phones in the market that are not built to last, repairs will be needed sooner than later.

However, the amount of money to be made will depend on the number of phones repaired each day. 100k is more than enough to buy the necessary tools needed to get started; that’s after you must have learnt to how repair phones.

#9. Foodstuff Business

Tons of foodstuff are been sold and consumed in the market every day. Basically, people must eat food, and so, therefore, they must go to the market to get these things.

Starting a foodstuff business can be very lucrative because food items are always in demand every single day. You can choose to buy in bulk and sell or buy in small quantities and sell. But whichever one you choose, with 100k and below can get you started and in no time, you will be smiling to the bank.

#10. Fruits Selling

Same as foodstuff, it is another commodity that is been consumed on a daily basis. There is usually no short order of them in the market.

Fruits are vital to the functioning of our body and provide us with the necessary vitamins. You can pick from a variety of fruits, based on demand to sell.

For the most part, the English apple is one fruit that is highly sought after and sells fast. You can either pick a spot in the market or a residential area to sell your fruits.

In Conclusion

Businesses you can start with 100k are not limited the aforementioned. This post just covers the highly sorted after and those with the best chances of starting out immediately.

On the other hand, we are open to suggestions from you on the comment section.

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