The 15 Small Businesses You can Start with Less Than 200k are outlined in this post, thus became necessary owing to our reader’s requests and messages received from our followers requesting information on any small business they can start with Two Hundred Thousand Naira (N200,000).
These requests from our analysis came from mainly undergraduates, Corp members and young Nigerians that are struggling through life to make ends meet.
This post was a feedback based on our little knowledge on starting a new businesses one can start in Ghana, Nigeria and South Africa.
Today, I have decided to list 15 small businesses any interested startupper can venture into and if such an individual will give the listed businesses due diligence and commitment, s/he will smile to the bank every month.
This post will be as brief as possible but before I list these small businesses for young individuals in Nigeria, I want us to note that I don’t advice my readers to start any type of business simply because the funds are available.
There are few things I will like you to consider before starting any business.
Factors to Considered before You Start any Business
1. You must consider first what you love doing i.e. what you have passion for that come rain or sunshine you will stick to, nurture carefully and watch it grow. You know in business, there are ups time and downs time, passion will help you persevere and never give up. In other words, list your interest, skills and access you personality.
2. Your environment: Is that business going to sell in your planned location of establishment? This also matters a lot as what will sell in location A might not be a good choice for location B.
3. What will be your plan for the business? Do you have a goal to achieve?
Will you like it to be incorporated? Do you intend to sustain the business or just need a business that will be sustaining you until you get a pay job?
4. Ask yourself, can I sell? If you can’t, you need to learn how to sale, because business is about selling (Be it a product or service).
5. Now, you should also determine how much risk you can take and bear
Until you answer these questions, you will be closer to knowing what business you can do.
The List below are some profitable small businesses you can start with 200k that are thriving in Ghana, Nigeria, South Africa today.
- Open a Restaurant.
- Start a Fumigation Business.
- Laundry and Dry cleaning services.
- Starting your own home services.
- Importation of wears.
- Livestock farming.
- Car wash center.
- Corporate cleaning services.
- Event planning.
- Barbing salon.
- Web design Services, graphics design and social media branding (If you are IT inclined).
- Fashion, cosmetics and fragrance business. (You can own a shop and distribute for companies like FM or Oriflame).
- Online affiliate marketing.
- Daycare center.
- Retailing business (like Rice or Indomie whole-selling).
Now I do not know what you love but I know it may not go beyond these few listed business opportunities.
If you need further explanation on any of the above listed small businesses, advice on how to start or a business plan, kindly message us.
I have also included below this post an Infographic of the 15 Small Businesses you can Start with Less Than 200k. You can download for easy access to this article anytime using your mobile.
Remember, you can set up any of these businesses and employ other experienced individuals to do the work while you manage and supervise CLOSELY.
Here are some tips on how to raise startup capital for your small business.
As a small business owner, the best way to scale your business is by saving and re-investing your profit. I have carefully selected some top online savings platforms that pay you high interest better than the banks and you can access your money in a short period for your business. Check them out.
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