With the current economic problem Nigeria is facing at the moment, it has not only affected the financial aspect of people’s lives but many are even afraid to invest or start a business due to the volatile situation.
While keeping money in a bank might seem like a good way to save money for the future, doing business with it can help to see it grow at a faster pace while keeping the person gainfully self-employed.
While N100,000 might not seem like a huge sum of money to start a business in Nigeria, there are actually some things that can be done with the seemingly small amount of money to start a business.
Here are five business ideas that one can invest in with N100,000
You can start a poultry business for as little as N100,00. Buy day-old chickens and even from your backyard start rearing them. You’ll also have to buy chicken feed and provide water for them.
While these chickens require constant monitoring when they are growing, the work reduces when they start to reach a certain level.
Gradually, your N100,000 investment will start to pay off when you start to sell them but remember to buy new chickens each time to replace the sold ones.
With a good location preferably where you have a lot of commuters and pedestrians using the location, you can start baking/frying snacks and selling.
With a capital as small as N100,000 you can get into the business and the good thing is that if you are very good at it, it will start to expand and you’ll even have regular and loyal customers.
Remember that hygiene is important in this business and so must make you must make your location neat and use clean water.
You don’t even need to advertise as your good snacks will get a lot f recommendation from people who patronise you.
With the growing demand for liquid soap, you cans lo tap into the market by learning how to make it and producing your own.
If you are very good at it, you stand the chance of growing your business from N100,000 into millions of Naira by distributing to sellers too.
Mobile phones accessories
With N100,000, you can start buying and selling phone accessories like charger, earpiece, batteries, etc.
These items are always in demand and you need to be able to make the best of the market by providing very good accessories.
Slowly but over time, you’ll be able to have loyal customers who will also recommend their friend.
You can use social media to advertise your items and also make arrangement for delivery to buyers.
With feeding being an integral part of human existence, you can invest your N100,000 into buying and selling food items.
Just make sure you identify a farmer’s market where you can buy them as they are being taken from the farm and resell to consumers.
Although it requires a lot of energy and very tasking, the profit from it can set you on for a life-long business venture.
Polaris Bank: Skye Bank Changes Name On Twitter And Facebook
After The central bank of Nigeria (CBN) withdraws the license of Skye Bank plc. The bank twitter and facebook name has now been changed to polaris bank.
While their instagram name still remains skye bank. But i think they will also change it soon.
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Billionaire businessman Tony Elumelu throws party to celebrate his mother’s 90th birthday in style
Over the weekend, Billionaire businessman Tony Elumelu threw his mother, Mrs Susan Elumelu a lavish party to celebrate her 90th birthday. The celebration began with a Thanksgiving Mass at the Church of Assumption, Lagos, and a reception in VI after.
Guests at the event included: Ooni of Ife, Oba Adeyeye Ogunwusi, Otunba Adekunle Ojora & Erelu Ojuolape Ojora, Oba Rilwan Akiolu, Chukwumalieze 1 of Onicha-Ugbo , Aliko Dangote, Femi Otedola, Tayo Ayeni, Segun Awolowo, Mr. Jim Ovia. More photos below.
Why African Youths Are Finding It Hard, Tony Elumelu
The chairman of the Tony Elumelu Foundation, Tony Elumelu, has said that government policies have become major hindrances to successes of endeavors of youths in Africa.
He spoke at the spring meetings of the International Monetary Fund and World Bank Group.
According to him, youths in Africa are “determined, energetic, hungry to succeed and make a difference and are extremely intelligent,” but he noted “the environment makes it difficult for them to succeed.”
Elumelu said African governments must make the youths a priority in their various endeavors.
He said “Governments need to understand that if we prioritize the young ones and make the operating environment conducive, they would be able to optimize the required intellects, they would do well and we would be able to solve some of the problems in the continent
“So, regulation is major, intellectual property is very important, incentivizing investors are all factors that will help us address these issues.
“Digital connectivity is a major issue in Africa and you can’t fix it if you don’t have reliable access to electricity. So, if we want to truly address the issue of the digital economy in Africa, these challenges have to be fixed.”
He added that if the issues of policy were dealt with investors would rush down to Africa.
This is coming two days after Nigerians faulted President Buhari on a comment he made saying a lot of Nigerians are lazy and are relying on the fact that Nigeria is an oil-rich country to get things from the government for free.
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