Finding a job in an economy where economic deficit and unemployment have become the order of the day is difficult. However, you can become self-employed with little capital and a brilliant business idea. Do you know you can start a business with 100k? Yes, you can! In this article, we will be discussing businesses you can start with 100k and guarantee a return on investment in 30 days or less. Let’s dive in!
Top 5 businesses you can start with 100k
POS business tops the list of business ideas in Nigeria that you can start with 100k. Human life involves financial transactions, and the banking industry falls short of what the public expects.
POS is a substitute for banking transactions and prevents individuals from spending valuable time waiting in line for routine financial transactions in the bank hall. You perform financial operations such as money transfers and withdrawals, bill payments (GOTV, DSTV, PHCN), and airtime recharge.
2. Catering services
This is one business that can succeed in Nigeria since there are so many delicacies to select from. You can start a catering business by buying essential items with the available capital. You don’t have to work too hard to make a turnover, which makes it a great option. Ensure your ingredients are ready, prepare delicious meals, and serve them to consumers. You can also operate this business online. There are many food sellers online who don’t have physical restaurants or stores.
Copywriting is one of the most lucrative online businesses you can start with 100k and below. If you have good writing skills and firm control of language, then this business will be your ticket to financial freedom.
Writing for advertisements, blogs, videos, presentations, direct mail, jingles, creative content, and more are examples of copywriting. A copywriter’s primary responsibility is to weave text in a way that will persuade readers or effectively promote a specific good or service. When written well, a copy can work wonders for any goods or services. It can be a full-time or part-time business.
4. Laundry services
This business does not require so much except essential tools. Get yourself a washing machine (not necessary) and an iron, and you are ready to go! The fact that you can operate this business from home is a plus. With 100k, you can get all the tools you need to make your work faster!
5. Small-scale importation business
These days, people import several products from other countries into Nigeria. You can get these products at a fair price and sell them at costly rates. Just research what people are likely to purchase. The easiest way to do this is by going for small products like clothes, small electronic devices, toys, jewelry, and phone devices.
Other businesses you can start with 100k include:
Graphic designers create graphic concepts for brands, businesses, and individuals using computer & mobile software or by hand. Packaging design, brand identity and logo design, web and mobile design, layout and print design are areas where graphic designers work in. Another advantage of being a graphic designer is that you can work from your laptop or phone. An office is not necessary. You can pay a professional to teach you graphic design, or you can study it on YouTube.
2. Foodstuff transportation business
Starting this business without having to invest fixed capital makes it incredibly profitable. All you have to do is locate vendors in a specific region, purchase food from them, and transport it to other areas. You can have traders ready to buy your items as soon as they land. This will make your business easier and more efficient. All you need is your 100k, a reliable mode of transportation and the ability to bargain.
3. Crypto currency
This is one of the least physically demanding businesses you can start with 100k. You can work from the comfort of your home. Cryptocurrency has become popular and is still getting more traction. Many big companies and key actors are making it in these alternative coins.
There are many coins you can invest in. The popular ones are bitcoin and dogecoin. All you have to do is invest in a particular coin, wait for it to rise, monitor the market, and sell at the right time.
Benefits of self-employment
One thing about starting your own business with your own capital is that you have absolute control over your business, here are some benefits of being self-employed:
- Unlimited freedom
Personal businesses allow you to work at your own pace and with ease, unlike employment, where your boss determines your method of operation and scope of work. This is most suited for persons who may not be qualified to work for an organization due to advanced age, underlying medical conditions, a lack of time, etc.
2. Financial freedom
Starting a personal business gives financial benefits. The fact that employers in Nigeria pay their employees’ pitiful wages is no longer news. The cost of goods is high, and the average worker does not make enough money to meet their necessities. With your brilliant business idea implemented, it can change the situation and ultimately grant you financial freedom.
3. Fulfilment of ambitions and dreams
A dream job is different from just landing a job. The latter is practically impossible to find, while the former may be challenging. Most people take jobs they don’t want or are forced to do. However, with the right business idea and conceptualization, you can achieve your lifetime ambition.
There is a wide variety of businesses you can start with 100k. Your capacity to examine carefully and choose which category you fit best is what matters most. Patience is also vital, as the early stages of a personal business may be frustrating and not yield as much as expected. However, with commitment and hard work, it won’t take long for you to achieve financial independence in the enterprise. Carefully go through this article, pick the best business fit for you and start your personal business immediately!