5 Businesses to Start in 2023, With ₦300,000 or Less

PART 2

Hey dear friend, how are you doing this bright Friday, two weeks ago I wrote to you about 5 businesses you can start with ₦300,000 or less and promised to bring you 5 more businesses in a part 2 series.

Here I am.

I realized that a lot of people resonated to the letter very much and decided that a part 2 was quite imminent.

Businesses are being built every day, and I am of the opinion that anyone can start a small business, being that a second stream of income is a goal most people are geared towards these days.

But what are you geared towards?

Dear friend, today’s letter is about informing you of some businesses you didn’t know could put food on the table, the ones that can pay those bills and get things running okay for you.

I plan to make this letter as brief as possible but also open your heart to as much details necessary to start your small business, so permit me to take you on this beautiful and educative ride.

Here are 5 businesses you could start in 2023 with ₦300,000 or less.

1.     Cosmetics – This business is a very profitable one and I must say that I have seen a lot of people online selling body creams and recommending facial and full body products, makeup and the rest. The beautiful thing is that you don’t need to have a physical shop, so with a budget of ₦300,000, I recommend that you start with online sales, sign up to E-commerce platforms that can boost your visibility and do not buy in super large quantities. Some cool products that get people interested are facials, scrubs, makeup, body lotions, press on nails etc. and trust me, people will buy.

2.     Mini Importation – The first time I heard mini-importation was in a WhatsApp class with many people, the teacher was focused on admonishing the importance of buying and selling and how buying from outside Nigeria was not so hard as people thought.
With mini-importation, ₦300,000 is quite more than enough money to start because of the fact that you are not buying in bulk yet. As the name goes, mini-importation targets fast moving items that you could spin profit from and sell in no time. The great thing is that you can start up from your laptop or smart phone, at home or from anywhere. You can decide to shop from both Chinese and American websites, because they have a wide range of products and come with very cheap or fair prices. You can start your mini-importation business with your start-up capital, (ours being the ₦300,00 budget or less), a valid email address, delivery address and good internet. However, you have to be careful when placing an order and that is why I recommend that you observe due diligence, while properly checking for the right website and source. Once that is done, you can follow up, by selling your items via wholesale or retail. The choice is definitely yours.

3.     Dry Fish Production – This business is quite overlooked most times because of the fact that most people are scared of marketing and strategically devising ways to sell. But the question I often ask is, which other strategy do you need to sell fish? Almost everyone eats fish, the target audience and demographic are very wide and most people want dry fish, like your dry cat fish, stock fish etc. The business is very profitable and you can start from the comfort of your phone or a small kiosk where you use as the deport.
You should also take into note that you can decide to only deal with a particular type of fish, so, if you decide on cat fish and you haven’t found a way around it, I suggest that you learn from women who dry fish for a living. This shouldn’t cost you more than ₦5000 -₦10,000 on a good day. You can also employ one person to dry your fish and package, then sell to market women who resell, you could also pace yourself and start supplying to food marts and even create an online presence.

4.     Beddings – This business encompasses a whole lot, from bed spreads, duvets, pillows, throw pillows, bed covers etc. The beautiful part is that you could choose to do both retail and wholesale or either. If you have a sewing machine, you can learn from someone on how to sew beddings, this shouldn’t cost you more than ₦30,000 on a good day. Then you buy your materials and start producing in small quantities. If you decide to buy from wholesalers or directly from a particular supplier, then you can resell and get your profit depending on how much you have agreed with your supplier. However, this business thrives on quality, if you are not ready to sell quality, this may not be for you.
I know someone may say that most people buy beddings that are of low quality, but if truth is told, they are unreliable and the future of such business hangs on a thread.

5.     Food Business (Restaurant) – Food business is good business. Everyone eats!
Food business is something that you can thrive, strive, grow and expand if you are doing the right thing. Have you ever though about mama Sikira on your street and how she was able to train Sikira and her siblings from selling beans and bread? Have you ever thought of mama Chioma and how she was able to feed her entire family by selling fufu and egusi?

Food business pays.

You can decide to start very small, by having a kiosk and small seaters for people to seat and also take away packs that enable people to buy and take home.

You can also decide to start from your home with the right packaging and employ the use of social media to sell for you. Create videos and lunch packs, get some small set of marketers that would sell on the streets and bring your returns. You can also decide to infuse food blogging and vlogging into it.

Corporate Ewa sells to hundreds of people every day, Hilda’s Kitchen, Ugomba’s Kitchen etc., and they are still pushing on social media. The hustle is real!

For the budget of ₦300,000, you may want to start from your home and then expand to a more proper space when you start getting returns.

The beauty about this business is when you do it neat, sweet and healthy.

And it’s a wrap.

This series would really help you if you are open to starting small and refusing to believe the naysayers and dream killers. Everyone you see succeeding in their business today once had challenges and insufficient money to start properly. But they started anyway.

My advice for you dear friend, is that you focus on building and growing because life is definitely a process, it surely always gets better.

Business can work for you, but first you need to work for business. Determination, Resilience, Commitment, Hard work, Patience, Courage, Creativity, Passion and Zeal will help you grow your business.

Another very important virtues in business are Trust and Integrity, if you don’t have it, please learn it, because it can make or end your business.

I hope you were able to learn from today’s letter and truly hope that this letter inspires you to take a step further to your dreams.

Chill, you can do it!

Kindly share this post and get someone the push they need today. Don’t forget to like and tell me what other businesses are there to start with little capital.

Till next time,

Warm Regards

Amanda Sibi.