Today, I’ve got an updated list of 61 hot small scale business ideas in Nigeria for you.
This list gives small business ideas and business opportunities, and also little capital investments you can try out.
Sometimes you just get stuck in your search for business ideas, isn’t it?
Yes, it happens and that’s why we have created a list of lucrative and profitable small scale business ideas in Nigeria – ones you can grow into a bigger business.
Other than the fear of failure, one of the biggest mental barriers to starting your own business is a lack of clarity about what kind of business you should start.
What Is a Small Scale Business In Nigeria?
According to the definition given by the Small Business Chron, A small business or small-scale enterprise is a business that employs a small number of workers and does not have a high volume of sales.
The legal definition of a small-scale enterprise varies by industry and country, based on factors such as size, economic impacts or financial measures.
Interestingly, the Federal Government of Nigeria has put in place credit facilities to boost small enterprise activities in the country.
There are literally hundreds of self-employment options available to you, and each one has its own individual costs, challenges, potential rewards, and startup requirements.
So with that in mind, here’s a list of 61 of the most popular and lucrative small scale business ideas in Nigeria to consider, they’re also one of the things you can do with less than a million Naira.
Some of these ideas may help you gravitate toward the best small business idea for your temperament, capabilities, tolerance for risk, market conditions, geographic location, and budget.
61 Investment Opportunities and Examples of Small Scale Business Ideas In Nigeria
Here is my list of 61 profitable small scale businesses you can try out below:
1. Cleaning business
3. Videography (Read 5 online top sites for free videography training)
6. Real estate
9. Jewelry making (crafts)
10. Tutoring, giving group or private lessons,
11. Computer training business (Read What you should know before starting a computer training business)
12. Vending machine business
13. Event planning services
14. Motivational speaking
15. Painting services
16. Fashion business (sewing, tailoring, design, clothing alterations etc)
17. Shoe business (shoe building, selling, design)
18. Food businesses: (restaurant, food truck, ice cream shop). Learn How to start a restaurant business in this guide
19. Bakery, cupcake business, cookies, birthday and wedding cake baking and decorating
20. Bar business
21. Poultry farming
Why Start A Small Business With Low Capital Investment Today?
Yes, you can start small and grow big.
Today, a lot of people want to have a side hustle as they’re looking to leave the salary job cycle to something that feeds their passion.
Let’s be honest here, we spend money every blessed day but we get paid every 30 days, which means 12 times in 365 days.
“Employees get paid 12 times in a year – @Oasdom
Business owners on the other hand? Your rewards flow with respect to the efforts you put in (marketing, sales, product creation, customer satisfaction and more).
Though starting a business may seem exciting but you should check out my post on 4 bitter truths no one will tell you when starting your business.
Luckily, it is now easy to start a business from scratch without spending a fortune. Below, I’ve highlighted more creative business ideas with low investments.
Some of the business ideas listed require nothing more than an internet connection, while others demand soft loan to kick off, level of licensing or a specific set of vocational skills…the choice is yours!
More Types of Small Scale Business Ideas That Moves Fast In Nigeria
21. Football showing center
22. Recycling business
23. Transportation or trucking business
24. Generator repair service
25. Computer repair services
26. Intra-state Courier services/delivery services
27. Music lesson trainer (Piano, box guitar, drums, etc.)
28. Daycare center
29. Animal feed production and sales
30. Senior care business
31. Dance instructor
32. Import-export business [FREE GUIDE: How to import & sell for profit]
33. Wholesale business
34. Rug cleaning services
35. Final year & PG student project writing services
36. Craft business (bead making, wireworks, etc)
37. Gift basket business
38. Smartphone repair
40. Online business (Here’s how to start an online business in Nigeria)
41. Web design and/or graphic design business
42. Printing services (print shop)
43. Gym business
44. Manufacturing business (soap making etc)
45. Furniture making business
46. T-shirt business
47. Domain name trading
48. DJ business
49. Scrap metal business
50. Dog business (dog training, grooming, boarding)
51. Farming, ranching, growing produce, aquaculture, greenhouse business
52. Magazine publishing
53. Party rental
54. Interior design
55. Bicycle repair
56. Painting business
58. Resume writing
59. Spa business
60. Web hosting business
61. Editorial services: article writing, web page content provider, proofreading, etc
Read articles on Oasdom.com for more money making business ideas and you’ll find gems of resources waiting for you.
Quick Guide On How to Start a Small Scale Business
Now, you’ve checked through the lists of small scale business ideas, isn’t it? But what about starting on the right foot?
According to Inc.com, there are 5 business trends that will impact small businesses this year. I think you should check it out.
You can be an entrepreneur if only you will take a self-inventory of your gifts or ask trusted friends to tell you what they perceive to be your strengths/gifts/talents/
I recommend that you check out these 5 signs that you have the entrepreneurial spirit because first hand, you need to do self-inventory before starting out.
Once you’re certain you have the entrepreneurial drive to start a business, try these proven tips on starting a business in Nigeria.
Also, funding is one big issue when it comes to expanding your business. Check out these top crowdfunding sites in Nigeria to fund your business.
You can also download small scale business in Nigeria pdf to your smartphone and other devices for offline use.
Small Scale Business Ideas In Nigeria (Summary)
You can start any of the 61 lists of small scale business ideas in Nigeria with low capital and still scale it up into a big business that moves fast.
You should check the list of 7 profitable home based businesses that move fast in Nigeria (Link in number 28 above).
They are becoming more popular, and also within the reach of almost anyone who wants to take a risk and work hard.
However, crafting a one-page business plan for these home-based businesses can give you a clear sense of direction to growing a profitable business from idea to reality.
So, which are the most successful business ideas in Nigeria out of all listed?
What is your opinion? Let’s have your comments and if you found this to be helpful, share with a friend.