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2023 is a new year and another great opportunity to make it in life, reach your goals and get rich. To get rich or make money, you have to offer services or create value and in exchange of that, you earn money.
Now that being said, are you looking for business ideas to venture into in Nigeria in 2023 with low capital?
If YES, then here are the best small business ideas & investment opportunities worth the try in Nigeria for 2023.
What business to do in Nigeria?
Getting a business idea is one hard task and kick-starting it isn’t a luxury but it is a necessity for hardworking people who aspire to make cool cash in life and become a millionaire or billionaires easily in Nigeria.
Do you know why you have to start getting a business idea that will be functional in Nigeria? it is because the ground is very much fertile and the market is massive, You will have many clients patronize you from largely populated cities like Lagos, Abuja, Portharcourt, Onitsha, Aba, Kano, etc.
Also now in the Nigerian economy is when it is not yet saturated, the field is fresh and Nigeria is still developing and not fully developed so it is easier now. If you are looking to invest in the Nigerian economy, now is the time.
It is quite true Nigerian entrepreneurs always complain of much taxes that they are mandated to pay, but these fares cannot be compared to that of different European countries most especially England. There are countries that the ease of doing business is very much lower than Nigerians’. However, I have prepared the full list of the 50+ Best small Business ideas in Nigeria for 2023;
- Raw Food Stuff Business
- Call Card Business
- Daycare Business
- Dry Cleaning Business
- Restaurant Business
- Car Rental Business
- Bakery Business
- Hamper Business
- Film Production Business
- Graphics Design Business
- Phone Repair Business
- Gym Business
Raw Food Stuff Business in Nigeria
This is one heck of a profitable business and a dominant idea which won’t die in 2023 or years to come, this idea can bring in great returns on your investment. Nigerians are special set of people that prefer eating more homemade foods to taking fast foods like noodles and co., and this is uncommon with our foreign counterparts. food stuff like rice, garri, beans and amongst them are item for sale.
Call Card Business in Nigeria
This business is popularly known as recharge card business in Nigeria and it is highly underrated even though it is lucrative. Now, think about it, majority of Nigerian youths and adult own a mobile phone. This is why the recharge card business idea will be evergreen and will fetch you a lot of money. You can join the group of Nigrians tapping from this rewarding business.
Daycare Business in Nigeria
After child birth, it is crucial to keep sustaining oneself ny going to work and this is why day care centers make good and stress free money. The day care services is second to none and cannot be matched. If you are a lover of babies and kids, then you might consider starting up a day care center so far as you have the space and no much capital is required.
Dry Cleaning Business in Nigeria
This is a rapidly growing business venture in Nigeria. Many people have done pretty well with this business idea and many are still doing well. This is because there are lots of busy people that are overwhelmed by jobs and businesses that they may lack time to do their laundries. Therefore, you might grab this idea and venture into starting a laundry business and be rich today.
Restaurant Business in Nigeria
In Nigeria, this business idea is one of the best as food demand have always been on the increase. This means that it is constant and never fades because people need food to survive and majority don’t have the time to cool always. If you think you are a wonderful cook, you can adopt this restaurant business idea. However it has a challenge, you’ll need to do great work in making the food amazing and fit for consumption.
Car Rental Business in Nigeria
Most cars are not for luxury but are necessities. There are times when people might need a car maybe for events, convoy or some very important outings. This is the car rental business idea becomes lucrative because it converts to money without much work. Just make sure you follow an expert in the line very closely to understand the intricacies of the business.
Bakery Business in Nigeria
There are People whose preference is baked stuffs. People in Nigeria fall among them. Before you adopt this small business idea, it is vital to garner all the required information needed in this line of business. Attending a baking school that that will teach you things you need to know and improve the existing ones is very important. You will might need a little capital to get started.
Hamper Business in Nigeria
In Nigeria, hamper business has its seasons and that is when it is on all-time high. So, if you have knack for gifts, then you should probably look into adopting the hamper business idea. You will have to decide if you are going to trade with the already assembled hampers, or if you start afresh and assemble it.
Film Production Business in Nigeria
Nollywood is undoubtedly one of the fastest growing and biggest film industries in the movie world. Every now and then, block buster movies are being produced and there are people behind the scenes pushing the popular actors and actresses to the screen. These people behind the scenes are at the helm of affairs and are way richer than the popular faces you see because of the business of film production. You can also join the bandwagon when you consider joining or starting your film production business. This is a work you don’t need a qualification to start.
Graphics Design Business in Nigeria
If you are a lover of arts and you are probably searching for an arts-related business idea to venture into, then you might want to check out graphics designing. The amazing thing about this business is that you get to learn it from scratch and then expand on the knowledge. so while practicing and taking on more jobs you become perfect.
Phone Repair Business in Nigeria
Majority of Adults, teens, and children in Nigeria own and use mobile phones. This shows that this business idea has a very large market. all you need do is to acquire the skills and boom! you are set up to start making money via it.
Gym Business in Nigeria
Fitness and a healthy life have always been a very vital part of life to Americans, and now Nigerians have caught the bug. High rate of cancer contributes to this fact while trying to keep fit and stay healthy is another factor. If you love fitness and you are a health enthusiast, then you might want to take a look into this wonderful business idea and start a gym-related business. it is lucrative enough because most gym centers charge at least N10,000 monthly subscription fee. Finance is also needed to start up and equip your gym center.
Wine Bar Business in Nigeria
Wine is usually consumed in different places like clubs, restaurants and even at homes. If you know that you are a lover of wine or a wine connoisseur then you should probably start looking into starting up a wine bar business. You will need to get a suitable location for the business so as to get your target market easily.
Internet Radio Business in Nigeria
If you have an interest in the internet and radio, then this is a wonderful business venture for you and it is differnt from traditional radio business. Reason being because the internet radio source is a computer. So, prior to starting this business, you should have gotten the content you want to create and build on. The contents are topics you will discuss to gain attention and appeal to your target audience. No much capital is needed in this.
Transport Business in Nigeria
The Nigeria population is huge and this alone makes my point that it is very lucrative if you have the capital. Many people travel from one place to another every now and then and this explains the daily traffic on the roads that is caused by these movements. By starting this transport business you can make a lot of money in few days because it is always in demand. Before you start, there are different kinds of transportation which includes by air and by water, but people are more focused on the land transport. if you want to join them, you will need to decide if you want to venture into interstate service or intra-state transport.
Jewelry Line Business in Nigeria
Lots of rich individuals love and use expensive jewelries even poor people love it but use the cheaper ones. If you want to tap into the market then you’ll need to find a reliable supplier and buy the materials in bulk so that the overhead cost will be reduced, and this will make your jewelry affordable. You might also need to develop your own inventory system for the materials so to be aware when you run low.
Mobile car wash Business in Nigeria
In mobile auto car wash, you won’t need a physical business location or pay for rent, so start-up costs are considerably reduced. As a mobile car washer, you will perform jobs in customer’s driveways, parking lots, and garages, this actually gives you the advantage of visibility for marketing of the business. The limitation is having to travel with equipments and large quantities of water.
Party Rental Business in Nigeria
A party rental business is an amazingly lucrative business idea because people love to party. so, if you can provide those things needed for parties for rent, can you imagine how much you would be making on a monthly basis? very huge indeed.
Pizza Delivery business in Nigeria
Starting up a pizza delivery small scale business is a very profitable venture. you can learn and be creative while making pizza. this is because there are many varieties of pizza like chicken pizzas, Italian sausage pizzas, Hawaiian pizzas, barbecue pizzas, hamburger pizzas, and other traditional cheese. you might produce your own and name it – Igbo money pizza, Yoruba pepper pizza, and Hausa beef pizza.
Nursing Home Business in Nigeria
Home nursing businesses are increasing on a daily demand due to high aging population. They need these home nursing services because of interventions, surgeries, and elective procedures from health care. so, entrepreneurs might want to exploit this opportunity and go help out and while at it make some cool cash.
Poultry farm Business in Nigeria
Starting a poultry farm in Nigeria might seem easy but taking it as a business is a different ball game. That means that you are more than a farmer, you will become an entrepreneur as well. To start this, you need to know your target market. And the part of the chicken industry you intend to go into. The poultry industry has two major parts; Layers, the chickens are bred to lay or produce eggs, or Broilers, the are chicken that are bred for meat consumption.
Cosmetics Business in Nigeria
If you love beauty, why not go into this business?. people love looking good and will always get products that will aid that faster. this doesn’t need much knowledge, you can start from the ones you know and gradually you will learn others.
Microfinance Business in Nigeria
If you have enough capital or you are sure to get partners who are well-grounded to float the business, then you can start thinking about a microfinance business. You will need a good business plan to venture into this. it will help you know steps to take at a particular time.
Tailoring Business in Nigeria
Tailoring has always been in existence since man was. If you love fashion then get your mind read to do this, because it will favor you and it is very profitable. People love new trends and would like to get them, so venture into it today and make money.
Insurance Agency Business in Nigeria
Tomato Farming Business in Nigeria
One of the indicators of its profitability is that Exports of Italian-made tomato to the United States increased by 5.4% in volume and by 3.1% in value. Anicav is taking over as part of the European Union-funded tomato promotion project. you can take on it if you are passionate about agriculture
Woodworking Business in Nigeria
Starting a carpentry business can be a very profitable business with a lot of flexibility, but it is important that you plan it carefully. Having a business plan for woodworking will allow you to borrow funds from investors or the bank to help you get started. In this guide, you’ll learn what you need to have in your carpentry business plan. Your business plan should start with a summary. This will describe your company’s purpose, such as selling handmade wooden furniture, and how you will achieve this goal. This should be brief and concise
Agricultural Business in Nigeria
The land is very green in Nigeria, we are blessed with fertile land and on the other hand, the country is very populated so food is needed to go round the huge population. All you need to do is to find out the agricultural produce that is needed and venture into. it can be raw, semi-finished or finished products.
Fish farming Business in Nigeria
This is a very cool business but requires apt knowledge about the work, you need to learn from a professional about how to handle some situations. Nigeria is blessed with a good environment for this business. join now and make few bucks.
Organic farming Business in Nigeria
A lot of people opt for organic products due to health reasons. These products don’t mature immediately they take time, unlike their counterpart. if you love healthy living and dietry then you might want to start up this business.
Shipping Company in Nigeria
A lot of people venture into this because it is a very profitable venture. The industry’s lucrative nature is unmatched and it’s one of the sectors with the highest profitability margin. You can, however, venture into this if you have enough capital and connections.
Real estate Investment Business in Nigeria
Real estate investment is like oil money, it is a very attractive venture and very crucial for wealth building, its returns is unparalleled. However, it could be a very risky venture where you might lose money in case of some unforeseen circumstances. you would also need the services of a legal practitioner.
Electronics Repair Business in Nigeria
This business has low cost attached to it and it is one business many people require its services. However, to be good at it, you need to learn and get the skills in practice. You don’t need capital either just get few pieces of equipment and you are set.
Courier Service Business in Nigeria
There is a lot of money in the courier service business. delivery always has a fee attached to it. won’t you love to be ata the receiving end? You can join this business line today and in a few months you are already balanced. You don’t actually need much to set it up.
Freelance Writing Business in Nigeria
It’s very much possible becoming a full-time freelance writer who earns a living or be a part-time freelancer using it to supplement a regular paid income. You could also do it for fun or to do it to build up an advanced skills portfolio. People mostly make a lot of money doing this in the U.S.
Motherless Children’s Home Business in Nigeria
Homeless kids need refuge in a place that they are accepted. You can also start up a motherless kid’s home for humanity’s purpose and make little money while doing it. This will operate as a nongovernmental organization but will enable you to make profits and get rewarded for helping needy people.
Arts and Crafts Business in Nigeria
You might need to add this to your regular streams of income in order to become rich and wealthy. all you need to do is to learn the needed skills and then produce from the comfort of your home.
Designers Store business in Nigeria
The designer’s clothing store industry is made up of retail stores that specialize in selling a limited range of accessories and clothing. The industry is defined as single-establishment stores only. Clothing stores are mostly strictly designer based (meaning that only one designer’s collection should be sold there), or they could sell a mix of different designers’ labels.it is also very lucrative considering the expensive price tags on these products.
See how to start up a clothing line here.
Pest Control Business in Nigeria
“Pest control” is a very broad term for object – since pests are countless varieties and are causing damages to both human beings at home and crops on the fields. The eradication of these parasites and insects as well as control is identified as “pest control”. It has profound implications for solving health, environmental and economic problems through science-based technologies. It is common knowledge that the way our homes become birthplaces of pests and insects like – cockroaches; bed bugs; flies; Mosquitoes; termites; Temperature heats up and ants – to name a few, except that we don’t take appropriate pest control measures. And there are so many varieties of them as well, each causing or likely to produce a large number of diseases from family members. Helping in this pest eradication can be very lucrative.
Gaming Business In Nigeria
There are people that love gaming. You should also have at least a drive for it before you start it. this gaming can also be betting shops, many people would love to make more money so they will stake more money. we have fast emerging gaming companies in Nigeria.
Fabric Business in Nigeria
The fabric business is also very lucrative as many people sew clothes and love to look fashionable. This causes fabrics to be in demand always. Before you venture into this, you need to be mentored and gain the needed knowledge to make profits with it.
Auto-Repair Shop in Nigeria
People own cars and these cars need maintenance or to be fixed. This business is popularly known as mechanic in Nigeria and that sounds derogatory to some extent, But to be able to be very good in auto repairs business one needs to have mastered the needed skills. it also doesnt require much capital, just get your tools and you are set.
Funeral Home business in Nigeria
Now, this might seem a little bit weird but if you are in need of a business that doesn’t go extinct then this is the right choice. Most people would rather not have a business at all than go into this because it is delicate and emotional in nature but what they don’t see is the profitability margin, it is crazy. However, the real fact is that it is a money-spinner would always be there because people die all the time.
Pizza business in Nigeria
People love Pizza, it is a pleasant meal especially when it is a click away. In fact, some people are addicted to it, They could have as much as possible. This is why Dominos make good money and are well established in the business. it is a very lucrative business considering the average pizza price and cost bof production. The good thing is that it doesn’t require much capital, you can start small then grow.
Solar panel repair business in Nigeria
This business idea is not cut out for everyone because it has a very tricky technical aspect that needs your unadulterated patience and handiwork. If you don’t have the drive for technology, you might want to look into other business ideas. However, if you have a penchant for this work then you will excel.
Consignment Business in Nigeria
The consignment business idea is one that goes way back from time immemorial. This business never dies because It is very profitable in Nigeria. It can guarantee almost or over a 100 percent profit on capital. It is quite easy to start and doesn’t need much expertise. All you need is to develop that zeal to venture into the business.
Cupcake Business in Nigeria
There are cake lovers and addicts all over the world and Nigerians are among them. Nigerians love and consume cakes a lot, have you noticed that?. Take a look around, most events, ceremonies or shops have cakes in them. Believe me, it is quite lucrative as these cakes are very expensive.
Boutique Business
No matter how difficult things might get in Nigeria, people must look good. This is because clothing is a basic necessity to man. So, from a business perspective, you can take advantage of this and start a boutique business. You will need to decide the kinds of items of clothing you want to sell and the kind of capital you need to invest in it. This is because they vary and so does their prices.
These can also be the 50+ Best business ideas in Nigeria, Ghana, Kenya and South Africa in 2023.