What business can I start in Nigeria with 200k or less than N200000

QuestionsCategory: BusinessWhat business can I start in Nigeria with 200k or less than N200000
Tolu Ola asked 3 years ago

I have up to two hundred thousand naira (N200, 000). I’m seriously in search for business I can start with such amount. can someone suggest any business ideas, please. I based in Lagos, Nigeria. I have search online on Google but I need suggests from those that are based in Lagos state.
I need your advice on how to go about it, please
Thank you.

2 Answers
Leonard Nwachukwu answered 3 years ago

 You will likely spend more than N200000 if you are going to rent a shop or space to start any small scale business in Nigeria. So, if you have a space or shop already, you can start any of the businesses below in small scale and then grow from there.

  1. Soap and detergent production – you need to go for training where you will be taught the chemistry of soap and detergent production before embarking on this type of business. The business is very lucrative. You can be producing liquid soap and be supplying to hotels and restaurants. Chemical like Caustic soda can always be purchase in small aliquot which is not up to thirty thousand naira (N30000).
  2. Perfume, body deodorant and cream production – this business require skill and expertise. It is either you consult an expert in the business for regularly assistance or you go for training. However, the internet has made things easier, you can always do little research how to produce body perfume or deodorants online to compare things.
  3. Mini Bouquet sale – You can liaise with those who are already into business start off. Liaising with them will help understand the tricks, pros and cons in the business.
  4. Sub-distributorship business – Making money on sub-distributorship business depends on your ability to figure our high demanding products. Top selling products are money making machine. See more on distributor business  and  top selling product in Nigeria 2017
  5. Fresh fruit Juice production – If you are going to start fresh fruit juice business, it require that you locate the business in a high traffic environment like petrol fill stations, High traffic Joints, big restaurants etc. and you will employ one or two sales girls to assist you.
  6. Haircut and barbing saloon – You can open and employ person or people to work with you. So, you don’t know how to do it, you can always learn on the field.
  7. Beads knitting and selling – this is not high demanding product. This business should be meant for ladies. Though, the extent you will go will be determined by your level of packaging.
  8. Cloth designing and tailoring- This business can be profitable if you know your onion. So, go for training before you start.
  9. Mini computer business centre
  10. Video and Game centre business

Starting a business in any part of state in Nigeria and excelling in the business is not an easy task.  Your overall success is determined by the following factors;

  • Your business orientation
  • Passion
  • Dedication
  • Hard work
  • Capital
  • Skill

My little Advice for you is;

  1. Do not a business you don’t have adequate knowledge of or skill.
  2. You can always start on small scale and grow gradually.
  3. Always consult experts.
  4. Be ready to switch between businesses
  5. Know that beginning is always tough.

You can read this: businesses you can start in Nigeria with 100K or Less. That article was written in 2016; however I still find it relevant. Though, the write promise to update it always.
I wish you all the best!

Promise Jack answered 3 years ago

One thing is to start a business; the other is to succeed in the business.
Below are Successful Small Businesses in Nigeria that you can start in 2017 and beyond; I have group these businesses into sector by sector for easy comprehension. Here they are:
SMALL PROFITABLE AGRICULTURAL BUSINESS-Small Agricultural businesses are the most successful small business in Nigeria that requires little capital start up. Most of the major inputs are space (land), water and the viable breeds (crops and animals). The businesses can be started as a sole-proprietor and then grown to Limited Liability Company.
Here are small lucrative Agricultural Businesses
1. Poultry farming business
2. Fishery Business (catfish and Tilapia Rearing)
Read more: 50 Successful Small scale business in Nigeria with little or no money startup