This publication exposes 6 hot businesses that require very small capital to start. Nowadays, many people are discontent with being employees of others. Consequently, they look for ways to express their own creativity in their work life and to gain personal satisfaction. Thus people try to open up their own small businesses so as to fulfill their own personal goals. Indeed, owning a small business is an avenue always scheduled by persons seeking to fulfill their desires for personal independence and success. Small business is, therefore, an outlet for an individual to express their initiative and creativity. It is the easiest form of ownership to establish with minimal capital and statutory requirements. It gives personal satisfaction, freedom, and flexibility. Unemployment is a big issue in Nigeria, Some people are still hoping for jobs in labor market. Why we start up with a business that requires low capital?
LOW CAPITAL REQUIRED BUSINESSES
The small enterprise aids development. This is because the small scale industries have a lot of importance and roles to play in the economy of a nation. The followings are the list of possible businesses that require low capital which can bring out the creativity in us, which include;
CANDLESTICKS PRODUCTION: With erratic power supply in the country, there is no doubt that production of the candlestick is a money-spinner. A sizable group of Nigerians still relies solely on candlesticks to battle the erratic power supply. With N10, 000 you can have a candle mold, which produces 16 candlesticks at a time and goes about 50 times a day translating into 800 per day. This is a situation when you are starting with N20, 000-25,000, to produce the 16 pieces does not take you more than 10 minutes; throw in another wax, which you must have melted. While the previous one congeals and goes on and on. So instead of starting with N100,000 – N200, 000, you can actually start with N25, 000. The startup requirements are mold, which cost N10,000, wax N1,000, Thread N1,000, heart source N600, Packaging Nylons N1,500, Ceiling Machine N2,000 and logistics.
SNAIL FARMING: Snail meat has been generally affirmed as a very safe and nutritious delicacy. In these days of increased coronary implications and other health issues, snail –producers are certain to hit it big because many people are shunning away from beef or red meat. It is also pleasing to note that snail production venture could be kick-started with a little initial capital of N15,000K. The best period to commence snail rearing is the raining season however if you have access to borehole or nearness to a swampy environment, a snail can be reared anytime of the year. You can get these snails from the market throughout the country, or from snail farmers. Snails prices depend on the sizes, the bigger ones are sold for between N1, 500-N3, 500 per bunch. It is better to buy the big ones because they can hatch after about 35- 45 days. About N15, 000 should get a new entrant started in the businesses. Visit Hotels, eateries, cafeteria, corporate offices, schools, catering schools, Government offices, etc and advertise your produce through pamphlets, handbills, fliers, etc.
PLANTAIN CHIPS: Plantain chips are probably the fastest moving consumer goods in Nigeria after Bottle water and Sachet pure-water. After removing the skin/peels, the unripe or ripe plantain fruit can be sliced/diced (1 or 2 mm thick) and fried in oil to produce chips, packed in polythene and bagged for distribution. If the chips are made from sweeter fruits, they are cut vertically to create a variation known as plantain strips. Just make sure you put your label which will have your contact address, phone numbers, the name of your venture. The more you produce the more money you make because the majority of Nigerians love plantain chips. This business can be kick-started with N10,000.
TOY MAKING: The local toy industry is becoming keenly interested, gone were the days when 99% of toys are imported from overseas market, recent study has shown the strong initiative in developing local contents in toy productions, our local toys are also in high demand both locally and abroad, the humor in African folks and tricks favors this genre of technology, games, game boards, masks, educational toys, models, puppets and other types are fancifully created to serve as income earner. Visit the beachside, amusement parks, Stadium complex, Trade-Fairs, Swimming poolside, etc. and see many attractive toys produced locally. With little capital of about N20K, you can venture into this business.
FISH FARMING: If you have been contemplating on a small business and haven’t heard about fish farming, then you are missing something. Over the years, quite a few people have made fortunes from fish farming; as the population is swelling and protein needs are far outstripping the available supply, fish meal is always a winner if done well. Fish farming is a sure bet business if you put the right structures in place. More and more people like fish due to its low cholesterol protein, All you need do is to get a space, buy or construct tanks, buy fingerlings for between N10 to N20 and feed them for 4 to 6 months, then sell from between N1500 to N2000 depending on weight and size. But you need to have a basic knowledge of fish farming to start this. For more information on this contact me via the comment box below this article.
LIQUID SOAP MAKING: Liquid soap is profitable, no matter how you look at it. Even taking into the account the cost of liquid soap packaging (a bottle & pump), you can make more money selling liquid soap then you selling bar soap. There is a big market for paired liquid soap and lotion sets for the guest bathroom and the kitchen. Even bar soap lovers like me understand that this set is a more elegant solution for entertaining! This business can be kick off with N10, 000
“Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love. And that is as true for your work as it is for your lovers. Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on. So keep looking until you find it. Don’t settle”.
(An extract from Steve Job’s Legendary Stanford Commencement Speech in 2005
It is better to be a job provider than to be a job seeker. Engage in what you love to do and bring out the best in you.