Businesses To Start With 30K in Nigeria In 2022
This article will go a long way to answer those questions such as; “is there any business to start with 30K in Nigeria? Can 30k start a business in Nigeria ? But first we will take a look at a background study to enable our readers utilize the opportunity with just limited funds as 30k.
Nigeria’s unemployment rate at the last quarter of 2015 stood at 10.4 per cent according to the National Bureau of Statistics. The figure went up to 14.2 per cent at the end of 2016. At the end of 2017, it moved up to 20.42 per cent. It moved up to 23.1 per cent in 2018 and the latest figures from the NBS indicate that unemployment rate now stands at 33.3 per cent.
Gross Domestic Product
A breakdown of the GDP figures from the National Bureau of Statistics and the World Bank from 2015 to 2020 shows that Nigeria’s GDP in 2015 when President Buhari assumed office stood at $486 billion; it declined to $404 billion when the country slipped into recession.
In 2017, GDP figures further declined to $375 billion. However in 2018, as the economy began to recover, the figures improved to $397 billion. In 2019, the figure surged to $448 billion.
By 2020, in the heat of the COVID-19 pandemic which affected virtually every sector of the world economy, Nigeria’s GDP figures declined to $432 billion.
The GDP figures were estimated to have risen to $440 billion in 2021, with 3.98% growth of the economy even though official figures by the World Bank are still being expected.
Verifying the key economic parameters that determine if an economy is in a good shape, checks by Daily Trust show that the key economic indices as at 2015 were better than what is obtainable currently. As such, the claim by President Buhari that he is leaving a better economy for Nigerians is FALSE.
This Factcheck is produced in partnership with the Centre for Democracy and Development (CDD).
Now you must be asking yourself the following questions; Can i start business with 30K in such a winding down economy? what business can i start with 30K?
The answer is, there are a lot of them out there and we are going to discuss them in this article.
This article will even go ahead to answer the question; is there any business to start with 30K in Nigeria
While it answers the question, it is important to understand that the business ideas listed here can also be spotted as an opportunity in foreign country’s and could help to improve the country economy.
However, we will mention the
business ideas in the next unit and as list the requirement as well.
Nigeria is regarded as the giant of Africa and as the giant of Africa, we must have a good working population who are not just comfortable earning a penny from the government but also making their own money as entrepreneurs too. Here are the 30k business ideas that can help you attain financial independence and provide us with at least 50K each month.
1. Poultry And Livestock Business
You too could take advantage of the rich poultry industry in Nigeria and earn great returns from it. Nigeria has a lot of Muslims and Christians but however, during festive seasons both sides get to spend on livestock which are mostly the ram for Muslims and chickens for the Christians.
If as a poultry or livestock farmer and you have either/both the ram and the chicken at your disposal, you know that you would make great sales during the festivity period. The Poultry and livestock business is considered to be one of the most profitable business with low capital in Nigeria because you won’t even need up to 30K to start the business. As a poultry or livestock farmer, you won’t only make sales during the festive period alone.
A lot of adult eat eggs and as per doctors report, eggs are also essential for children. As a poultry farmer who trains broilers and old layers, you would provide the world with eggs at a very good profit. You can buy a chick at N300 and train it for about 3 month or even more and at the end of the period, you can sell it for 4K or even more. Your customers could also buy the chickens just for their meat only. Indeed the poultry business is a very profitable business if properly done. With adequate, market survey, you will thrive.
2. Ice Block Production Business
Before venturing into this business, one must already own at least a fridge and a generator. Due to the climatic change, people will need cold water or any cold drinks that can make them relaxed after a heavy work. However, due to the poor Nigerian electricity condition, this people might be denied from having to take this drinks at the temperature they want. It is a simple business and entrepreneural to start with 30K.
3. Shawama Or Barbecue Business
This is one of the simplest business to start with 30K.
However, it is quite similar to the fast food business. But the two aren’t the same. To succeed in this business, one must have prior knowledge on how to make tasty and delicious Shawama and barbecue. This business needs to be situated close to an eatery, a restaurant, hotel or bar as you can be easily spotted.
4. Phone And Laptop software downloads
To get started in this business, one needs to have prior knowledge on how to download softwares and applications from the internet. While some people may not trust the internet because they are afraid of having their electronic devices contract virus or any cyber attack.
One does not need to open a shop for this business. However most people tend to get a kiosk before jumping into the business.
5. Pop Corn Business
A lot of Nigerians eat popcorn either for leisure or as a meal. This is a nice businesses that can naturally sell itself everyday. People will need some snacks and can take popcorn as it is one of the best snack meals in the country. Almost every Nigerian has patronised the sellers in one way or the other. It does not really need a shop or a big place to get started in the business, rather all that is needed might just be an open space where one can be easily seen by the general public and then attract customers.
Location is very vital in the popcorn business as it is an impulse meal, which means people rarely think about such goods before buying them. It is best to be located at parks, markets, schools or Secretariat as the population of people in such areas will be enormous. To start the business, you only need a popcorn machine, corn, butter, groundnut oil, salt, flavor, nylon, sugar and powder.
The most expensive thing on this list is the popcorn machine and it may not be up to 30K.
6. Dry Cleaning Business
Being one of the popular business in Nigeria, some dry cleaners usually rent a shop. But for start ups, you don’t really need a shop but items like pressing iron, detergent, containers for storing water and clean water supply. If the dry cleaner gets to do his work properly, he/she stands a chance of getting of having referral customers as well as old customers returning to him and paying him for more of his/her services.
As a starter, you will need to wash your clothes by hands or pay to get a washing machine. It is one of the best 30K businesses in Nigeria. Dry cleaners normally charge N250 for simple services like ironing. However, when it comes to washing and ironing, the charge is about N500. So do the maths, if they have 10 clients in a day and each delivered at least one cloth for the day. You can calculate how much he made for that day.
It is important to note that this business is for people that are hardworking and have no difficulty with time management.
7. POS Business
This business is not just one of the popular business but also one of the simplest and most lucrative. Referred to as ‘Point of Sale’. The POS machine is a portable electronic device that makes use of bank cards in order to perform financial transactions.
Introduced in 2012 by the central bank of Nigeria, the POS business has grown in Nigeria to become one of the popular business as well as profitable. You only need to sign up with a POS company in order to get started. However, they are several of these companies so you have a wide range of options.
These companies include Moniepoint , Opay, Kudi and Firstmonie as well as others. Most of these companies like Moniepoint can give you the POS machine for free as long as you are profitable to the company. You can also collect an open space for the business as it would be much more closer to your target market. However, a shop is still good but a POS kiosk has grown to be most used in the industry.
Your customers will be Nigerians who don’t want to go to the banks for their financial transactions like deposit, transfer and withdrawal. So, for anyone who has a 30K funding and is asking questions like ‘what business can i start with 30K?’ Or ‘can i start business with 30K’ then POS business is the answer for the 30K business.
8. Car Wash Business
In Nigeria, most people don’t have the time to wash their cars. They often decide to get other people to wash it for them. Most of the time, this people they give it to has to be expert in washing cars. This is one of the best business as the basic requirements is getting an open space for the cars to pack as well as banner to notify people of your business.
You can also get new client via referrals depending on how good and satisfied they are with your services. The basic needs to get started in the business are; clean water, detergent, brushes as well as acquiring a deep washing machine, for start up, the machine may not really be necessary. The business is for people who have no problem in meeting tight deadlines.
9. Baking And Pastries/Small Chops Business
Can you bake or make small chops?
If yes, then this business is for you. Nigerians have a great love for snacks. So getting your snacks or small chops into the Nigeria market could be a huge gain for you. Most cakes are sold for 5K but it cost about 3K to make them. You go with a profit of 2K. The best thing about the business is that you can do it right at the comfort of your home.
But to do this at home and still have sales, you must have already advertised yourself in order to acquire clients. This is one of the 30K business in Nigeria that works best with referrals too. So, you need to be good and nice to your customers.
10. Bead Making Business
Fashion, a lot of Nigerians love fashion especially when it deals with beads. The bead making business is a very stress-free business, but you will still need to work, depending on how big and complex your job is. As a bead maker, you can even make bags, bangles, ankle lace, etc.
To start this business, you will need to acquire all types of beads, depending on the design you’ll be trying to make. Other materials include zip, buttons etc. This business can even start right at the comfort of your home.
11. Cleaning Services
People have begun to see the potentials within the cleaning services business and have decided to key into it. As someone that wants to run a cleaning services business, you must be honest and hardworking.
This is a business whereby an office space is not necessary as you might be getting cleaning offers right at the comfort of your home. It is one of the most profitable. To get started, you will need some cleaning materials like broom, brush, detergents, containers and clean water. You will need to be referred, so be good to your customers.
12. Okrika Business
Selling foreign used clothes can be one of the most profitable business. Meanwhile, you might need to acquire a shop that will serve as a fixed location for your business, but it is still not too necessary because i can keep them at my home and sell them based on orders i get.
The business is highly profitable if you have great marketing skills and also have a good taste for clothes. These clothes are already used clothes, so you will need to find them and resale them at higher price. Assuming you bought an Okrika shirt at 1K, you can simply sale it at 3K and make 2K in profit. To thrive, you need to have a good relationship with your customers.
13. Snail Farming Business
This is one of the best business that can answer all your personal financial questions like ‘what business can I start with 30K in Nigeria’ or ‘can i start business with 30K?’ The snail farming is a growing industry that is still untapped by most people.
Though this can be stressful at first, but with good timing and discipline, you’ll get to improve when and how to feed the snails. The snails business profit is very high.
14. Mini Importation Business
This is a booming business that can yield multiple returns on investment within weeks and months. Importation and exportation has to deal with the exchange of goods between two or more countries. As an importer, you can import goods like chargers, toothpicks, pencils and others.
It demands great marketing skills and good knowledge in order to know the right goods that will yield high returns when they are imported. You can also market your imported goods on online market places like Jiji, Jumia, Amazon and others.
15. Fast Food Business
Humans and other living beings need food to survive. And good food is nutritional to the body. Some people may be too busy and would want to purchase their meals outside.
This is not because they can’t cook, but just because they may be too busy. This business is best situated at public areas like market, public offices, universities, parks or even street. To start this business, you might not even need fundings up to 30K.
16. Phone Accessories
Yes, it is one of the most profitable to start with 30k. While most prefer keeping their goods at home, it will better to get a kiosk or even a wheel barrow, staged by the roadside, and then stock your phone accessories like chargers, USB cords, ear pods, batteries and others. It is advisable to also take the business online too.
It is one of the most profitable business to start with 30K in Nigeria.
17. Soap Production
This is one of the business to start with 30K and still make good returns out of it. Your business is to make bathing and washing soap without the help of the big companies. To get started, you will need to get chemicals and brand your product in a colorful way. Some supermarket can help you exhibit them to their customers. You will need items like good water, mixer, soap, containers to brand the soap as well as nylon to package the soap.
18. Plantain Chips Business
A lot of people eat plantain chips and you can start by packaging it and making them look attractive. You can also get people you’ll be supplying the chips to.
The business does not even demand you to get a shop and can be done comfortably from your home. You will need to get a slicer, plantain, a gas cooker or stove as well as to fry the plantain.
The business needs a disciplined person who can meet target when the suppliers demand them in bulk.
19. Recharge Card Distribution Business
First get in contact with a bulk seller or a recharge card producer that can trust you.
Your primary work is to sell the already produced recharge cards. Most people tend to use bicycles to sell these recharge cards. The cost of purchasing a bicycle is not high. With trust of the producer and a bicycle, you can join the business and be making huge commissions depending on how much you sell. The producer could even offer to get you a bicycle.
20. Sales Of DVD/ CD Business
Even if you are not a fan of Nigerian movies, foreign movies must be what fascinates you. Whatever it is, the CD seller will still sell it to you. Did you know that in Alaba international market, those CD you buy at N200 or N150 actually cost about N50. However, the seller will have to deduct transport, he/she will still go with huge profit at the end of the day. It is one of the most profitable business with low capital one can start in Nigeria.
These are some businesses to start with 30K in Nigeria. While most of them may not involve much risk, some of them such as poultry, fastfood business and others require care and attention.
I hope this get to answer you financial questions like “what can i start with 30K in Nigeria”, “Is there any business to start with 30K in Nigeria”.
Some of this businesses might need big capital to see good returns, you might still need some of them as they are the most profitable business with low capital one can start easily.
You may still reinvest huge amounts as you progress from a little start up of 30k.