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7 Businesses You Can Start With ₦100,000 or Less

So you have a little money to spare- maybe ₦100,000 or less –and you’re wondering if you could start a business with it. Is it too small or do you have to wait until you have a larger stash of cash to spare before launching a new enterprise?

It’s certainly possible to begin a new business with ₦100,000 or less. Not just any type of business, but one that targets a big market, and has great growth prospects.

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This article lists some ventures that fit this bill. Hopefully, you get inspired by the possibilities that these ideas present, and start working on a worthwhile business idea, even if you don’t have, millions at your disposal.

Here are our picks for businesses you can begin with relatively small startup capital.

1. Mobile Money Agent

Many people don’t like the idea of standing in queues at bank halls or ATMs just to withdraw cash or make transfers. They would jump at the chance to take out their money somewhere closer to their location, and without waiting in long lines.

Mobile money agents are making this wish a reality. If there’s a registered e-payments agent who has a center closeby, you could conduct your regular financial transactions with them. They will usually do this with a device that’s enabled to process payments on their service provider’s platform.

You could register with these e-payments platforms, receive a PoS from them, set up a physical presence, and begin processing payments for customers. As an agent, you’ll get a commission for each transaction that’s made through you.

2. Fashion Accessories

If you’re looking to start a business with less than ₦100,000, you could also consider selling fashion accessories. Think shoes, handbags, belts, scarves, and watches, to name a few. You can purchase some of these things from a source that makes them available at lower prices, and sell at marked-up prices to your customers.

How about reaching a wider market than just your friends and neighbours? You can do this with social media, preferably Instagram. You don’t need to have a physical store at the early stages; a fine, constantly updated page and a reliable system for delivering orders to buyers should do the trick.

3. Home-Based Catering

Here’s a tweak to the idea we just discussed. Have you thought about delivering your meals to hungry customers for a price?

You can build a business around your first-grade cooking skills. And you don’t need a lot of money to start doing this.

Begin from your kitchen. Create a social media page and display your dishes there. But also inform your family and friends what you’re up to; word-of-mouth is still the best marketing tactic. Also be sure that you have your delivery system sorted out before the orders come rushing in.

4. Household Repair and Plumbing Service

This is for people who know their way around plumbing systems and can put broken cabinets back together. But even if you can’t fix pipes and replace damaged taps at the moment you can learn how to.

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Once you have acquired this skill and put yourself out there as a household repair person, you’ll find that you’re in high demand. It’s not unusual to find large urban communities in which there are only a few repair people to call on when something gets damaged. If you’re working in the right places, you’re unlikely to run out of work.

Thankfully, it doesn’t cost a lot to buy the tools you need to start.

5. Web Development

This is probably one of the least expensive options on this least. It costs almost nothing to begin as a web developer (apart from hundreds of hours of learning and practice).

You do need a computer and access to the internet though. Also, this is a fairly competitive niche, so you’ll have to be very good at what you do to stand out.

With the right skills and attitude, you should do well with web development. Putting yourself on relevant platforms is important too (join online freelance and developer communities, have a social media presence, and a portfolio site as well).

6. Perfume Production

Who doesn’t like fine fragrances?

The problem is the higher-end perfumes tend to be rather expensive. Large swathes of our image-sensitive population can’t afford them. You can fill this gap by providing less-expensive alternatives that are also quality products.

With just ₦100,000 or less, you could start a business that sells your own fragrances. If your perfumes catch on, they could be the start of a renowned local brand.

7. Phone and Computer Accessories Retail

The market for computer and phone accessories is alive and well. As long as there’s a demand for smartphones and laptops, the products that we use along with them will also be sought-after.

You can make decent returns from selling things like headphones, modems, adapters, phone casings, SD cards, etc. Just be sure that you’re located in a place that’s accessible by a large number of people (say a major transit point in your district or city). There’s a bigger chance of making sales if you’re in a high-traffic area.


There are many other ideas you could start for much less than ₦100,000. If you would like to launch an enterprise with that amount, you now have seven options to consider.

In the end, this isn’t just about the amount of money you have. It’s also about your understanding of the business you want to pursue, your skill levels, and your determination to succeed at it despite the odds.  

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Did you find this article useful? Contact us: editor at connectnigeria dot com

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Ikenna Nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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