Are you seeking for a lucrative business you can with N500,000 capital? You are on the right page as we will be sharing with you top 10 lucrative businesses you can start with minimum capital of N500,000.
In recent times, when several employers have dismissed their employees out of jobs, many individuals are beginning to see the need to start up businesses with small capital.
As much as many are been kicked out of their jobs, the number of graduates roaming the streets keeps increasing, white collar jobs seem to fizzle out of the dreams of many, and this is why starting up businesses is the new big deal.
The businesses we will be sharing with you are quite profitable and not so capital intensive. However if you do not have any form of education in these vocations, it’s highly advisable that you get trained by those who are professionals in the business already. Having done that, you can then start yours on a small scale.
Let’s show you the top lucrative businesses in Nigeria that you can start with a capital of N500,000
Top Lucrative Businesses In Nigeria
1. Computer Business
Computer Business in Nigeria is booming, with consumers upgrading their technology and wanting to have access to the latest in the market. The Nigerian computer market is estimated to have a value of over US$2.5bn by 2021. However, the market is still in its early stages, with a lot of potential for growth.
Nigeria is a country with a population of over 200 million people, and with a growing middle class, there is a growing demand for technology. In addition, Nigeria has a well-educated population, which means that consumers are interested in having access to high-quality technology.
2. Snail Business
The snail business in Nigeria is booming and there are many reasons for this.
Snails are a type of animal that is known for being high in protein and low in fat. This means that they are a good choice for people who are looking for a healthy diet, and this is why many spend alot of money just to ensure that they include snails in their meal.
To start this business, you may need to visit a local market to ask questions from those who are selling in the market, inquire how you can start yours and spend time learning from them so as to ensure you don’t make mistakes.
3. Bakery Business
There is no doubt that the bakery business is one of the most lucrative and successful in Nigeria. This is because Nigeria is a country with a large population, a high demand for food, and a population that is increasingly affluent.
More interestingly, bakery businesses can be started very cheaply, and there is a high demand for bakery products. In addition, Nigeria has a large population of expatriates, who are always in need of good bakery products.
However, there are a number of things that a bakery business in Nigeria should consider when setting up shop. These include location, equipment, and marketing.
4. Poultry Business
The poultry business in Nigeria is a big and growing industry. A recent study by the Nigeria Export and Import Corporation (NEXIM) showed that the poultry industry has the potential to generate N1.5 trillion in gross domestic product (GDP) by 2025. This would represent a CAGR of 7.5% over the next decade.
The poultry industry is currently worth an estimated N360 billion, with a growth rate of 5%. Nigeria is currently one of the reputable poultry producers in the world.
The poultry industry is well-positioned to benefit from the growth of the global economy and you can benefit from this simply by gaining knowledge and investing in this industry.
5. Cosmetics Business
Cosmetics are an essential part of every woman’s beauty regime. They help to improve the appearance of the skin, hair and nails, and can be used to create a variety of looks.
In Nigeria, the cosmetics industry is growing rapidly, and there are a number of businesses that are currently doing well.
With the right knowledge, skills, and capital, your investment in this industry, will definitely yield greatly for you.
6. Salon Business
Salon business in Nigeria is booming. There are many salons in the country and they are doing well. The reason for this is that there are many people who are interested in getting their hair done. There are also many people who are looking for new fashion trends.
Another reason why salon business in Nigeria is booming is because of the growing middle class. There are many people who are looking for ways to improve their appearance, so they are willing to pay for services that are offered in salons.
7. Fish Farming
Fish farming is a business that is profitable in Nigeria. There are a number of reasons why this is the case. For one, Nigeria has a population that is increasingly interested in healthy and sustainable food.
This is especially the case with the older generation, who are more likely to demand high-quality, sustainably produced food. Additionally, Nigeria has a number of rivers and lakes that are good for fish farming.
Fish farming can be done in a number of ways. The most common way is to use a pond. However, fish farming can also be done in a river, using irrigation systems. Fish farming can also be done in a hatchery, where fish are bred in captivity before they are released into the wild.
8. Mini importation
Mini importation business in Nigeria can be a great income opportunity for those with the right skills and knowledge. There are a number of companies and individuals that offer mini importation services in Nigeria, and it is important to do your research before starting a business in this field.
There are a number of things to consider when starting a mini importation business in Nigeria. You will need to research the customs and import laws in the country you are interested in importing to, and make sure you have the proper permits and licenses. You will also need to find a reliable and reputable supplier, and make sure you have a good contract in place.
Once you have all of the necessary information, it is time to start planning your business. You will need to create a business plan and find reliable employees for your business.
