Are you struggling to find a profitable business idea that fits your budget in 2024?. Nigeria’s diverse economy offers numerous and untapped small business ideas for aspiring entrepreneurs. You can start with a low capital of about N50,000 to N150,000 which is relatively cheap and affordable.
In this blog post, you will discover the top 20 small business ideas that are not only viable but with high potentials for success in Nigeria’s thriving business landscape.
The best part is you can run some of these business from the comfort of your home!
Table of contents
- Small Business Ideas in Nigeria
- 1. Copy Writing and Content Creation
- 2. POS Business
- 3. Become a Virtual Assistant
- 4. Laundry and Cleaning Service
- 5. Blogging
- 6. Email Marketing Business
- 7. Facebook Marketing Business
- 8. Pattern Making
- 9. Start a YouTube Channel
- 10. Liquid Soap Production
- 11. Rental Services
- 12. Mini Importation
- 13. Information Marketing
- 14. Event Planning
- 15. Sports Viewing Centre Business
- 16. Food Cart/Mobile Food Business
- Â
- 17. Fitness and Wellness Services
- 18. Drop shipping
- 19. Social Media Marketing
- 20. Daycare Business
- Frequently Asked Questions
Small Business Ideas in Nigeria
1. Copy Writing and Content Creation
If you have a way with words and you can put pen to paper, then this is a lucrative business idea you do not want to overlook. There is a high demand for copy writers and content creators across various industries like real estate and they need you to optimize their websites, blogs, and social media pages.
You can effectively do this from the comfort of your home with just a mobile phone or laptop and earn as much as N150,000 to N200,000 monthly. Best part is you can work for multiple businesses at the same time. You can get started at upwork.
![copy writing as a business idea in nigeria](https://www.getinsurance.ng/wp-content/uploads/2024/07/content-writing-business-1024x678.jpg)
2. POS Business
The POS (Point-of-sale) is a business that has come to stay in Nigeria. It allows you to make profitable commissions on transactions you perform for your customers. You will hardly find people go to the Automated Teller Machine(ATM) to withdraw money these days. It is fast becoming the peoples choice for fast cash transactions. You can start up this business with as little as N80,000 and make huge profit monthly.
How can you start this business?
You can start your POS business by visiting a financial institution like OPAY, Moniepoint, KudaBank, Palmpay etc. Provide all the necessary documentation needed like your NIN and Business account name.
![Pos machine for on-the-go payments for your business](https://www.getinsurance.ng/wp-content/uploads/2024/07/pos-machine-558x1024.jpg)
3. Become a Virtual Assistant
Becoming a virtual assistant is one way you can start earning six figures working from the comfort of your home. For those looking to start earning money in USD ($), this is a really good path to set yourself up.
Virtual assistants are in really high demand today. This means there are a lot of opportunities out there. You can learn how to earn six figures weekly from home as a virtual assistant.
![business ideas in Nigeria - virtual assistant](https://www.getinsurance.ng/wp-content/uploads/2021/10/business-ideas-in-nigeria-virtual-assistant-1024x683.jpeg)
4. Laundry and Cleaning Service
Nigerians most especially Lagosians face a daily struggle. Long commutes and busy schedules often leave them with no time for household chores. Cleaning service involves proper residential and commercial cleaning. You can learn how to start your cleaning service and laundry business as it is an easy avenue to make money. People do not have the luxury of getting back from work and immediately washing their clothes in readiness for the next day.
How can you start this business?
Get a nice space to setup, then get a washing machine and pressing Iron. You can start with a capital of 200k to 500k. As time goes on, you can begin to do a little branding and change of business operations by including home delivery.
![Electric iron for professional laundry business](https://www.getinsurance.ng/wp-content/uploads/2024/07/laundy-iron-1-1-1024x750.jpg)
5. Blogging
If you can write or have the capacity to learn how to write, then this is a business to do in Nigeria. Blogging is a good way to make money online in Nigeria. All you need is internet access, good research skills, an interest, a laptop, and a lot of time. Your most important and perhaps expensive investment in a blogging career is your time.
Also, since you would want people to find your blog posts without manually promoting them all the time, you would need to learn how to optimize your posts for search engines like Google or hire the services of an SEO Expert in Lagos.
Set up a free blog with WordPress or Wix or if you have some money, set up your blog on the self-hosted server; populate your blog with quality content, get people to read your content (drive traffic), get their confidence, and monetize your blog with Google AdSense, display advert, affiliate marketing or sell information products such as ebooks, etc.
![blogging business](https://www.getinsurance.ng/wp-content/uploads/2020/02/blogging-business.jpg)
6. Email Marketing Business
Over the next few years, the acceptance of e-mail marketing as a means of advertising is expected to grow and you can place your own company to take a substantial share of the market by starting your own e-mail marketing business now and offering your clients first-class services with proven results that would keep them coming back and referring others.
You can learn how to start making at least $1500 monthly just from writing emails for companies.
![email marketing business](https://www.getinsurance.ng/wp-content/uploads/2020/02/email-marketing-business.jpg)
7. Facebook Marketing Business
With a growing number of Facebook users in Nigeria on a daily basis, business owners are beginning to realize how important it is for them to be seen on Facebook by their target customers. This is where Facebook ads experts come in.
You can set up a Facebook marketing business to help other business owners to market their products and services and get paid really well for it.
You can learn how you can make 7 figures as a Facebook ads expert.
![business ideas in Nigeria - Facebook ads expert](https://www.getinsurance.ng/wp-content/uploads/2021/10/business-ideas-in-nigeria-facebook-ads-1024x683.jpeg)
8. Pattern Making
Fashion is a multi-million Naira business in Nigeria today. One of the things people will never live without is clothing. This is why the fashion industry is certainly not going down anytime soon.
As much as people need clothes like they need food, it goes beyond just putting on any fabric on your body just to cover your nakedness. They need the clothes to be stylish. This is what sets a ‘fashion designer’ apart from an ‘Obioma tailor’. Pun intended.
Learning how to make patterns is sure to set you up for massive success in your fashion business. This is one skill that will make your customers pay you whatever you charge because they know you know your stuff.
But of course, the pattern-making skill doesn’t just come naturally to everyone. Just like every other high-valued skill, you need to learn it to become a master at it.
You can check this out to master pattern-making and start making good money doing it.
![business ideas in Nigeria - pattern making](https://www.getinsurance.ng/wp-content/uploads/2021/10/business-ideas-in-nigeria-pattern-making-1024x683.jpeg)
9. Start a YouTube Channel
Starting a YouTube channel is a great way to make money while sleeping. You’d need to identify a niche to focus on, and what the target audience constantly searches for on YouTube.
A lot of people get frustrated trying to make money through their YouTube channel just because they failed to go through the learning process first. You can’t just wave a magic wand and start generating money.
You need to learn how you can grow a viral YouTube channel and turn it into a money-generating machine.
![business ideas in Nigeria - YouTube channel](https://www.investsmall.co/wp-content/uploads/2020/05/business-ideas-in-nigeria-youtube-channel-1024x506.jpeg)
10. Liquid Soap Production
The market for liquid soap in Nigeria is so large that well-established brands are not meeting demand.
Every household in the country needs this product. So there will always be a demand for it. You just have to be the one supplying.
If you look around you, you will find homemade liquid soaps with no branding at all, packaged in used plastic bottles being sold for between N50 and N100.
This is one of the major investment opportunities in Nigeria today. If you are looking for a small business idea in Nigeria that is profitable, then this is your best bet. You can make so much money producing liquid soap and selling it to supermarkets and other shops that retail to end-users, restaurants, bakers, caterers, and home keepers.
You may have to acquire some training that is available at vocational centers run by churches, government, and non-governmental organizations. Or better still educate yourself on home items.
![liquid soap production business](https://www.getinsurance.ng/wp-content/uploads/2020/02/liquid-soap-production-and-sales.jpg)
11. Rental Services
People constantly need things that they do not possess. Some of the things you can start contracting out include chairs, canopies, vacuum cleaners, cutleries, cooking utensils, music box, ladder, etc. Once you are known to be engaged in this business in your environment, you may not be able to meet demand.
If you have an interesting range of expensive gadgets or equipment, you might consider exploiting them for side income businesses hiring them out on hourly use basis. If the business gets going, you can add more items as you discover what people like renting. Prepare a leaflet, advertise in a local newspaper or use social media to announce your services.
This particular business idea can be capital intensive sometimes and may require you to check out some platforms like Branch loan, Carbon loan, Palmcredit, Renmoney, Aella Credit, Quickteller loan, Opay loan, and C24 loan where you can get an instant online loan in Nigeria.
![chair rental business](https://www.getinsurance.ng/wp-content/uploads/2020/02/chair-rental-services.jpg)
12. Mini Importation
The internet has redefined trade and commerce. Many people have struck gold by importing items online through eCommerce sites like Alibaba, Aliexpress DHgate, global sources, etc. With about N100,000 or even less, you’re open for business.
Identify people’s demands. Search all the eCommerce websites, and get a procurement agent to purchase these items. The agent will then send them to you to sell and make your cash.
Even with the falling value of the Naira, people who are engaged in this business still smile to the bank. Items you can import many varied and may include: mobile phone accessories, cosmetics, fashion items, etc.
This post is a very helpful resource on all you need to know about mini importation.
![mini importation business](https://www.getinsurance.ng/wp-content/uploads/2020/02/mini-importation-business.jpg)
Related Post: What is Business Insurance?
13. Information Marketing
This is another internet-based business that has taken people out of poverty in Nigeria. Do you know anything that people don’t know, or know something that other people know but can present it differently, or know someone who knows something that others may not know?
You may be on your way to making money by packaging the information in the form of a report, an ebook, video, or audio, and selling them online. This is one of the benefits of digital marketing skills.
Take note, you do not have to write it as there are many resources online to help you. You can outsource the writing on Fiverr, buy master resell rights or private label rights books, rewrite and rebrand to your choice and sell. It’s important to note that making money from information marketing would require a good knowledge of digital marketing. You might want to check out some of the institutes offering digital marketing training in Lagos.
![information marketing business](https://www.getinsurance.ng/wp-content/uploads/2020/02/information-marketing-business.jpg)
14. Event Planning
Event planning is a fantastic business idea you can start with zero capital. All that is needed is your organizational skills and attention to details. Event planners help individuals and organizations coordinate events. You can specialize in a particular type of event such as weddings, birthday parties, or corporate events. A great way to get started is to reach out to event centers around your location and discuss with the manager to build partnerships. Also, you can utilize social media platforms such as Tiktok, Instagram, and Facebook to showcase your creativity and reach potential clients.
![event planning business idea in nigeria](https://www.getinsurance.ng/wp-content/uploads/2024/07/event-planning-business-1024x683.jpg)
15. Sports Viewing Centre Business
Football is a sport majority of Nigerians are passionate about. It creates a connection among football enthusiast. Lets say you live in an area where people do not have access to watch football because of the high cost of purchasing a satellite dish like DSTV. It is a business idea you can set up with a N100,000 to N250,000. All that is needed is a mini generator just incase the power supply is not stable, a nice television and speaker to connect your satellite dish. You can make N90,000 to N120,000 on a monthly basis.
How to start this business?
Make sure the area is well secured. Get a conducive space with a well arranged seating arrangements. Provide sockets for charging of gadgets.
![football viewing center business](https://www.getinsurance.ng/wp-content/uploads/2024/07/viewing-centre-business-1024x681.jpg)
16. Food Cart/Mobile Food Business
Ask yourself this question – what sells fast in Nigeria? Food is one of the primary needs of man. Whatever the condition is with a man, he must eat. As a result, the food business will always be lucrative in Nigeria. It is one of the most thriving businesses in Nigeria.
The key to success here is to differentiate yourself by choosing a specialty menu, a niche, and a market segment. You cannot be everything to everybody.
Select your market carefully where the returns are higher. For example, you can choose to serve workers of big organizations like digital banks, oil and gas companies, and multinational organizations and develop a relationship with their HR departments to allow you to bring your food during their lunch or within specific hours of the day. You can add special delivery of specialty food to busy executives as part of your service.
This particular business can be capital-intensive and so, you might want to explore grants for small businesses. Plus some platforms like Palmcredit, Branch Loan, Specta Loan, Fint Loan, C24 Loan, or Quickteller Loan allow you to get an instant online loan in Nigeria.
![mobile food business](https://www.getinsurance.ng/wp-content/uploads/2020/02/mobile-food-business.jpg)
17. Fitness and Wellness Services
As Nigerians become more health-conscious, there is a growing demand for fitness and wellness services. You can become a personal trainer, yoga instructor or offer other health and wellness services. You can design customized fitness programs for individuals based on their goals. It could be for weight loss, muscle building, or strength training.
18. Drop shipping
This is one of the new business ideas in Nigeria. It is a form of business that you can start with very low capital. What you need is your laptop or smartphone, internet data, and your social media platforms e.g. Facebook, Twitter, Tiktok, etc. ( which could serve as your online shop)
This is one of the lucrative business ideas that has made people millions of naira. The secret of the business is identifying and knowing what the people need at a particular moment and knowing where and how to source for those items (AliExpress is a good place to start dropshipping in Nigeria).
![drop shipping business](https://www.getinsurance.ng/wp-content/uploads/2020/02/drop-shipping-business.jpg)
19. Social Media Marketing
The Social media space has grown to be an important tool that can drive not only the visibility of businesses but also their profitability.
Indeed, some forward-looking companies now have a social media strategy as a full-service function within their organization while some others outsource this service. This is why there is a growing need for people with social media marketing strategy and development skills.
Take advantage of this development to learn the tricks of using Facebook, Twitter, LinkedIn, Online Forums, and Blogs to sell goods and services and offer this to the many individuals and corporate organizations, including SMEs yearning to launch into the digital marketing space and make money for yourself. You can check this out on how to make money on Facebook.
![social media business](https://www.getinsurance.ng/wp-content/uploads/2020/02/social-media-business.jpg)
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20. Daycare Business
There will always be the need to make a living even after giving birth. This is one of the reasons why daycare centers make good money. The services they render are second to none and indispensable. If you have a penchant for babies and kids, then you can consider starting a daycare center.
One important thing you have to note before considering this kind of business is that you’ll need to register it appropriately to avoid getting yourself into problems with the authorities. You can refer to this post to learn how to register a business name in Nigeria.
![day care business](https://www.getinsurance.ng/wp-content/uploads/2020/02/day-care-business.jpg)
Frequently Asked Questions
What do I need to start a business?
The basic things you need to do are to conduct market research, write a business plan, choose a business name, register your business, and fund it.
Can I get insurance for my small business?
Of course, you can. There are small business insurance plans designed to cover losses you might incur while doing business.
What businesses are high in demand?
Online businesses like email marketing, affiliate marketing, content marketing, website design, information, and blockchain technology are currently high in demand, and this may not be changing anytime soon.
Can I start a business without capital?
Yes, you can. An online business in Nigeria that pays can be started with very little or no capital. There’s even an option to have access to supply chain finance. All you need is to have the required skill and be able to convince a prospective client to work with you. You can also learn smarter ways to invest money here in Nigeria and ways to save money as a family.