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5 Businesses You Can Start Without Capital in Nigeria 2020 See Update

Filed in Articles by on October 21, 2020

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5 Businesses You Can Start Without Capital in Nigeria 2020 See Update.

Businesses You Can Start Without Capital: In Nigeria not all business starts up with a capital. It might interest you to know that there is lots of business that don’t need capital.

Firstly, I will like to introduce to you the meaning of capital and some business ideas in Nigerian that you can set up for yourself without necessarily having the capital to start with.

business startup

 

According to lending tree glossary, capital refers to the financial assets needed for a business to produce goods or a service it offers to its customers. Capital is important for a business to maintain its operations.

Starting a business with no capital requires a shift in mindset. While thinking of how to start a business take stock of what you have at your disposal, make sure you consider the following things.

  1. Your skill: what can I do?
  2. Your experience: what have I done in the past?
  3. Consider the Knowledge you have, what you know
  4. Consider your tangible resources, what do I own and what do I have access to?

It is advisable you think carefully about your responses to these questions. Go beyond your imagination quickly and think beyond it. In this process be sure to write down your answers to these questions.

Your answers will create an aircraft that can be combined to create something interesting and valuable in establishing your new business.

Not just the above listed you must also do the following

Invest What you Know you can Afford to Lose:

Think of the amount you want to start up the business with, and know you can afford to lose it, therefore put it in your business and see how it works.

Experiment and Adapt:

With the mindset you’ve got, you succeed not only by becoming preoccupied on a single outcome but also by being responsive to the changes in the environment

Already existing firms do take a longer period to adapt than new firms because they have more than that reinforce the status to quo.

New firms are new and are not tied to the way things have always been done and with that, the entrepreneurs can benefit from the shift in customer preferences, by restoring their business to take advantage of such developments.

The entrepreneur with the mindset of starting a business with no capital has to stand ready to make do with whatever comes his or her way and also learn to transform both positive and negative incidents into a useful component of new opportunities.

The business that is begun with no capital, have certain characteristics. They have to fall into the hands of one or more of the following categories.

  1. Service
  2. Performance
  3. Events
  4. Education

Due to the huge rate of un-employment most people have decided to start up their business and become bosses of their own. I will like to let you know the types of business you can start up with no capital.

Five businesses you can start up with no capital in Nigeria.

  1. Event planning
  2. Tutoring
  3. Makeup and tying of head tie
  4. Photographer:
  5. Repair of household appliances

1. Event Planning.

In Nigeria, lots of people especially the ladies and children love parties and events, starting up such business won’t be a bad idea, and it doesn’t require much, and this is one of the growing ventures in Nigeria.

Like as I said, this business doesn’t require much. As an event planner, your job is to plan events and get paid by doing so. What you need to do is to go-to vendors, radio, and television stations and make sure your events go round very well. Not just this.

You can start this by organizing mini parties and other events; make sure your event goes well. In each of the events, you organize they must be pay before entering the event ground, as the gate fee.

As you grow you get more and more events, and the bigger your event is, the higher the pay of guests. You can also offer to organize a client’s event or party for a fee. It can be either wedding, birthday and so on.

You must have good communication skills with people, be able to interact well and as an event planner, you must be a social type.

2. Teaching

This is another event that needs no capital. If you have the gift or ability to teach, then you have to give it a try. First, decide on the age range you can work on. And after each tutoring, you demand for your pay.

The longer you teach, the more your money gets to increase. And if you are able to do this very well, lots of people will come for you. You can start working in this area and as time goes on you become a professional in this area.

3. Makeup and Tying of Head Tie.

Before you engage in this kind of training, you must make sure you are excellent in making people up and styling of a head tie. Before this, you must have gone for training; you can now start up your own business.

Women do need a makeup artist and head tie styling especially during events, or parties because they always want to look astonishing and gorgeous. So the more orders you get the more money you get, as you render these serveries you are being paid.

4. Photographer:

Make sure you have the talent of a photographer, and all the equipment necessary to organize photoshoots for customers. You can conduct photo secession, edit pictures, and provide your clients with finished products.

You can do this from home; you go for events, weddings, and parties, and so on. The more serious you are the more your business gets to progress.

5. Repair of Household Appliances.

If you are so good at repairing household appliances, you can then start up a business. You can offer services to customers and get your pay at the end of the day; your duty is to restore damaged house appliances and so on. With this, you can own a business card to promote your business.

With the above business mentioned, it is going to give you an idea of how to tart up a business with no capital. This is very necessary because the rate of unemployment will be reduced through this.

What’s your take on this? We believe this article was helpful, if yes, don’t hesitate to share this information with your friends on Facebook, Twitter, or Whatsapp.

CSN Team.

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