Due to the coronavirus, we are currently entering an economic recession that will affect everyone on the planet in one way or another. Millions of people will lose their jobs, but if you have ₦20,000, you can build your own business even in this trying time. Here are 10 ways to do it!
Launch and grow your business in Nigeria with Jiji
1. Mobile accessories
It seems like everyone around you already owns a smartphone, and with owning a smartphone comes the need for various mobile accessories. Phone chargers, cables, headphones, cases, and other accessories, can be purchased from China in bulk and sold either online or offline.
More and more people choose homemade cakes, cupcakes, cake pops, cookies, and other baked goods for their weddings, birthdays, and corporate parties. If you have decent cooking skills, all that you need to do is advertise your business online and deliver beautiful and high-quality baked goods to your customers.
4. Digital marketing
If you are a digital native and know everything about social media, online ads, and other aspects of digital marketing, you can launch your own digital marketing business. Contact other business owners, promote their businesses online, and get a share of their profits as a fee.
5. Jewelry making
People will always want trendy, beautiful, and inexpensive jewelry, and you can help them with your low-cost business. Choose the type of jewelry you want to produce – it can be made from beads, fabrics, or other materials – and research popular designs that will find lots of customers for you.
Read more: How To Start A Jewelry Business
6. Fabric goods production
If you already have a sewing machine and can sew simple things like bed sheets, duvet covers, and baby wraps, you can start a business from home on a budget. Sell your goods on Instagram and accept custom orders – if your items are affordable and good-looking, your business will thrive.
7. Home-grown herbs
Even though agriculture is on the rise right now in Nigeria, you cannot really launch a full-scale business with ₦20,000. However, if you have a passion for growing produce, you can start a small-scale business by growing various herbs and spices in your home: basil, mint, rosemary, and oregano can be successfully grown even indoors.
8. Dropship sales
We all know that Chinese sites like Alibaba and Aliexpress are a goldmine of cheap products that you can resell for a profit in Nigeria. But with a tiny budget of ₦20,000, you probably can’t buy large quantities of goods. The ideal solution for you is dropshipping: take the customer’s money, place an order, and have the product delivered from China directly to the customer.
9. Beauty services
No matter how big the economic recession may get, women will always strive to look good. Manicures and pedicure, hair styling, facials, and massages are just some of the things you can do from your home or a small office with a minimal budget.
10. Snail farming
Snail farming is one of the most affordable ways to join the lucrative farming industry. You don’t need a huge startup budget or a large farm to breed snails – this agricultural business can be easily started from home. However, it may take you around a year to receive the first profit, so you’ll need to be patient!
Buy and sell with confidence from your phone using the Jiji app