Starting a business doesn’t always require a huge investment. In fact, there are plenty of profitable business ideas that you can start with as little as ₦100,000 ($100) in Nigeria. If you have a small budget but big dreams, here are the top 5 profitable business ideas that you can start in 2024:

1. Online tutoring: With the rise of online learning, there has never been a better time to start an online tutoring business. If you have expertise in a particular subject or skill, you can offer tutoring services to students of all ages. All you need is a stable internet connection, a laptop, and some marketing skills to get started. You can charge by the hour or offer packages for long-term clients.

2. Homemade food delivery: If you love cooking and have a passion for creating delicious meals, you can start a homemade food delivery business. With just ₦100,000, you can buy ingredients and packaging materials to start selling your meals to busy individuals and families in your neighborhood. You can offer a menu of pre-set meals or take custom orders based on your clients’ preferences.

3. E-commerce store: Setting up an e-commerce store is easier and more affordable than ever before. With platforms like Shopify and WooCommerce, you can create an online store to sell your products to customers nationwide. You can sell anything from handmade crafts to fashion accessories to beauty products. You can start with a small inventory and scale up as your business grows.

4. Mobile phone repair: With the increasing popularity of smartphones, the demand for mobile phone repair services is also on the rise. If you have a knack for fixing electronic devices, you can start a mobile phone repair business with minimal investment. You can offer screen replacements, battery replacements, and other repair services for various phone models. You can set up a small repair shop or offer on-the-go services to your clients.

5. Social media management: Many businesses are looking to establish a strong presence on social media platforms like Facebook, Instagram, and Twitter. If you have a good understanding of social media marketing, you can offer social media management services to businesses looking to grow their online presence. With just ₦100,000, you can invest in social media scheduling tools, graphics design software, and content creation tools to kickstart your social media management business.

In conclusion, starting a profitable business in Nigeria doesn’t have to break the bank. With a budget of ₦100,000 or less, you can start any of the above-mentioned business ideas and potentially turn them into a successful venture in 2024. Remember, the key to success is persistence, creativity, and a willingness to adapt to changing market trends.

FIND: Turnkey Businesses

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