Starting a business is a great way to make money, but it can be difficult to get started. You need to have the right amount of money, equipment, and know-how to make your business succeed.

What Business can i start with 50k

The impact of small businesses to the nation can not be over emphasized because they Provide  solution to a critical national problem like unemployment.  

The world at large is experiencing an economic break down and thus, it has become the best deal for new business to start up. This will be the best way to salvage the crumbling world economy

In accordance with research, the right time to start a business is during economic downturns and financial meltdowns. This is because startups enter the marketplace with zeal, ingenuity, and a desire to solve problems. Startup companies are the largest employers in the United States.

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These enterprises grew into the large corporations we know today, such as Apple, Facebook, Google, and many others. Your company has the potential to become one of Nigeria's most successful.

Small business gives employment to those that couldn't make the cut for government, help in addressing some societal problems and even making the entrepreneurs more stable financially. 

As a result of the advantages, many Nigerians are now interested in entrepreneurship and operate their own enterprises. Individuals wishing to start small enterprises in Nigeria and many other African countries, however, do not have the funds to do so due to the harsh realities of the economy.

As a result of this their indispensable contributions to national growth has made many people from Nigeria, Africa and the world in generally to be on the lookout to discover a good business that they could start with little amount. 

This article covers 10 businesses you can start with or less than 50K (50,000 Naira) in Nigeria.

Small scale farming

This is the most common business that can be started with 50,000 NGN in Nigeria. You can start small scale farming by buying seeds and planting them on your farm. You can also buy animals such as poultry and sell their eggs or meat to make money.

Small scale farming is a business that has the potential to be very profitable. You may begin farming on a modest scale right in your own garden. You could cultivate peppers or veggies to sell, or you could start a snail farm or raise chickens, all with very little money.

Car washing

This is another business that can be started with 50,000 NGN in Nigeria. You need to buy some chemicals and equipment like a pressure washer, soap dispenser and buckets to wash cars at the side of the road or at gas stations.

Pet sitting

Pet sitting is another good business you can start with 50,000 NGN in Nigeria because there are many people who love animals but do not have enough time to take care of them due to busy schedules or work.

Commitments so they leave them alone at home for long periods of time which may lead to injuries or even death if not monitored properly by a professional pet sitter who knows how to handle pets properly in their absence from home; this makes pet sitting an ideal business opportunity for anyone interested in starting up their own pet business.

Food business

You can start a food business in Nigeria with 50K. You can start a bakery, restaurant or even a fast food outlet.

All you need is to have good capital, quality ingredients and the right place to set up your business. The significance of food cannot be overstated. You can earn a lot of money by using your cooking skills. All you will eventually need is a stand, cooking equipment, and some food items. 

You can start by looking for a suitable place and prepare items such as pasta and turkey. You may also specialize in food preparation with delivery for parties and gatherings. 

To attract a larger audience, you can use social media to market your business, post images of your food, and clearly describe what you do.

Real Estate

You can also invest in real estate with 50K in Nigeria. The key is to find a good location where you will be able to rent out the property or sell it at a profit after some time.

Mobile Phone Shop

If you have technical knowledge about mobile phones and gadgets, starting a mobile phone shop is one of the easiest ways to make money in Nigeria with 50K capital. All you need are good quality phones, accessories and other equipment for repairing phones (spare parts).

Laundry Business

Another business you could start is this one. Washing machines can be purchased for as little as 18,000 Naira. You can purchase detergents, wash and iron your clothing at home, and transport them to your customers!

Baking

Baking is a successful business in Nigeria. Nigerians will always want Cakes and pastries. Cakes or tiny chops are required at every gathering, from weddings to birthdays to graduations.

This baking business can be started right in your kitchen. You might start by selling little cupcakes and chops to generate revenue. You may then promote your baking business on social media to acquire visibility, get people to order, and start generating significant money.

Soap Making

Another company you could start is soap making. You can produce liquid soaps for bathing or washing, brand them, and sell them to different supermarkets for a week's worth of supply.

You might also elect to promote your soap on social media platforms such as Instagram or Facebook before delivering it to your customers.

Deodorant/Perfume business

Another profitable business that you may start in Nigeria with less than $50,000 is selling perfume oil. This business is very simple to start because it requires very little equipment. To get started with this fantastic business idea, all you need to do is contact a reputable perfume oil provider who supplies the perfumes that your consumers prefer.

After that, get some perfume bottles (usually 1ML) to offer your stuff in. You can start selling your perfume oils to make a good huge profit.

You can buy 10ML of a fragrance for 1,800 Naira and resale it to your customers for 1,000 Naira every 1ML bottle. When you subtract the cost of the 1ML containers, you'll be left with

In Conclusion

With the state of the Nigerian economy, starting a business is a fantastic idea. however, most of the businesses in Nigeria will require a significant amount of startup capital to get started.

Thankfully, we've identified ten businesses in Nigeria that you can start for less than NGN50,000. Please conduct your own research to ensure that these businesses are lucrative and feasible in your area.