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What Small Buisness Can I Start With N500,000?

Please Good Nigerian people. i can't seems to known what business to start with N500.000(five hundrend thousand naira) in abuja, I recently lost my husband in a gastly motor accident and i will like to start my own buisness to be able to raise my two kids. any sugesstion will help a great deal thanks.

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38 answers

500 000 would be a huge amount of money in dollars, but in Naira it is not so grand. Still, you can start a business out of your home or a small enterprise with this kind of investment. Some areas allow a low level of entry with money, but at the same time they may require a high level of entry in the personal skills and experience. You can go into small size production: growing things, producing eggs or meat, fruit, etc. Or you can cook food and sell it on the streets or deliver lunches to the offices. You can resell goods. Buy them at bulk (3-5 items) and resell with profit. You can also start a blog and enter an affiliate program to make money online. Other options are available, too. It all depends on what you know and love to do the best. Do not enter a business you do not like. Let the passion lead you and make a way for getting some good money into your pocket.

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Best advice so far i.e. if she can cook very well and has managerial ability. She should scout her environment to look for good cook(s) and maids. Employ and pay them on weekly basis. Make sure you secure good location (preferably main road) in town with space (you may end up pay much for this but don't mind). Make sure that you keep the place neat at all times. Offer not too cheap and not too expensive meal. Get a small fridge or freezer or initially buy iced block to ice drinks.The beauty of this business,if you are very good at it,is that feeding won't be a problem, you won't have to wait for months to generate returns or take unnecessary high risk. You should be up and running by the time you spend 300-350 in a place like Abuja. For more info inbox: obasanya2012@yahoo.com

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Frm d above comments,i'll advice u 2 go into food business.

I cud rememba some yrs ago,my father lost his job.Tins were very hard 4 us.my mother borowed money and start up a little food restruant.we don't buy fud cos we all eat frm d restruant.Fud busines made us wat we'are 2day.me and my three brothers graduated frm d university.

Go ahead in2 d food busines.The lord wil see u through.

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Op sorry about your loss. Pls id want you to seriously consider, selling selling food stuff, because thats a guaranted way of you and your children nnever going hungry. Then secondly id wnt you to consider having a body shop, soaps, body creams, weavon and attachments and the likes of them. From this you make daily sales. Fish farming is not as lucrative as people say it is, esp if you dnt have adequate water supply. Also theres a lot to contend with if you decide to go into poultry, if its a big poultry, you need help, ie you have to pay the workers, this and so many other things to consider. Above all pray and ask GOD to order your steps. It is well with you annd your childrenn.

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How to Start a Small Business

with No Money

1. Develop a good

business idea

The first step to starting a

business without money is to

develop a good business idea.

Your proposed business idea

must satisfy a need or solve a

problem. Your idea must be

good enough to arouse the

interest of anyone who hears a

pitch of it.

2. Have a good business

plan

Even though you have no money

to start a business, write a

business plan. It might sound

crazy but you are only preparing

yourself to take advantage of

any opportunity that comes

your way. Also, writing a

business plan will prove to

investors that you are a serious

entrepreneur that knows his/

her onions.

3. What do you bring to

the table?

Okay, I know you are reading

this now because you lack the

capital to finance your business

idea but I will bet that you have

something of value inside of

you. What business skills do you

bring to the table since you

don’t have money? This will

be a question most investors

will want an answer to.

Take for instance you developed

a good business idea with

respect to the tech industry but

you don’t have the money to

pursue the opportunity, you can

come to the table with your

technical skills. Mark Zuckerberg

did the same thing. Aside

technical skills, you can also

come to the table with your

experience from a respected

field. Skills such as sales skill,

accounting skill, business

management skill can also be

brought to the table.

4. Find a business partner

with cash

This is self explanatory. If you

don’t have the cash to start a

business, then find a partner

who does.

5. Start a service based

business

You can also start a service

based business since it requires

little or no startup capital. But

you will definitely have to invest

time equity to get things going.

A little bit of creativity,

marketing and sales skills will

also be needed to give your

business a head start.

6. Start a home based

business

When I hear people giving lame

excuses about their inability to

start a business due to lack of

capital, I boil inside of me. I

have seen people start

businesses right from their

home and grow from there.

Julie Aigner Clark is a good

example of this.

I have seen

young internet enthusiasts start

a business from a friend’s

computer or a public connection

(cyber cafe). So I don’t think

you have any excuse for not

starting a business; even if you

have no money.

7. Bootstrap your way to

success

Lastly, you can bootstrap your

startup by operating on a lean

budget. Bootstrap financing is

an alternative for those who are

finding it difficult to raise funds

for their business.

Bootstrapping financing is

simply the art of running a

business on internally generated

funds which are often limited. It

involves the tactical deployment

of resources while giving little

room for waste. Effectiveness

and efficiency are two

watchwords in the game of

bootstrapping.

As a final note, I want you to

know that there will never be a

situation where you will be

provided with excessive capital

to start a business. You just

have to learn to run with what

you’ve got. Don’t sit on your

ideas simply because you have

no money; start with what you

have. Even if all you’ve got is

an idea and your enthusiasm;

start with it. Where there is a

will, there will surely be a way. I

leave you with these additional

tips for starting a business

without money.

Additional tips on how to start

a small business with no money

8. Obtain a bank loan

9. Apply for a government

grant

10. Raise money from crowd

sourcing websites

11. Source money from Family

and friends.

12. Try raising capital from

investors

13. Take your idea to

institutions that support

entrepreneurship (NGOs)

14. Participate in

entrepreneurship competitions

Join the moving train...Now!

My dear friends, if you want to

start now,send interested to

b4billgate at gmail dot com for

the 150plus offline and online

great

startup

business ideas for the year.

Thanks...

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i love this thread! read through all comments and i must commend you all here.

I will love to invest too, say about N300,000. dont know what exactly to go into. cos at the moment am a catfish farmer and i must tell you all the truth, for two years that i have ventured into fish farming, there is no profit in it. i rushed into it, the whole first year was lost to me, this is my second year in fish farming, though am still in the field and have catfish at the moment. but, will drop the catfish farming biz for something better. I did a feasibility study on catfish farming and realized that the farmers only make peanuts, the MAJOR gainers are the MARKET WOMEN, RETAILERS AND FEED SELLERS.

Want to invest N300,000 on a lucrative business, please good advise will be welcomed.thanks all

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As many that are asking this same investment question,send a mail to financialable.com.

Investment opportunities and models will be sent to you.Apologies to all those who have sent and has not received it,it will be sent.

To our success!!

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Ma, the best business that suits you must be a small scale business. From the comfort of your home, purchase the chemical raw material for producing disinfectants or soaps and detergents either.They are very cheap. You will ask what of formulations and procedure? Good, I will send a chemical manual that covers that. You just don't need more than N50 000 to do this. /07033097160.

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Thanks Frank Ike. You are a wise man, you will live long. Amen

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@josephxxxo: u re advising woman with kids to concentrate on forex biz huh, if u must do urself good, pull out of that forex biz and do something reasonable with that N50,000. u need further training. train for a long time and try to find out what is driving the market. dnt guess trade for ur own good. a word is enough for the wise

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I support wealthyk.Talk to her to show provided she is not asking you for money.If she is asking you for money for the service,talk to me on femmyariyo@yahoo.com.I will show you how to go about it free.May God comfort you.Cheers.All the best.

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``people are just adding more too here problem here let her do the forex thing okay but i will advise here to put just 50k that all am doing forex as well am just 4 days old in it''

You are just what? 4 days old and you are advising, I have been doing Forex for 4-5 years and I can say to you that it is not easy at start, you will first loose before you gain and I mean that, moreover you have got to be careful trading in 9ja as electricity and other factors can be detrimental to the executions of your positions, other factors such as some of your fraudulent brokers taking traders stops and limits off as someone here on Nairaland narrated to us. She will first loose all or almost all the 500k. She is better off starting something lucrative, stabilize and then see if she wants to invest further. But just jumping into Forex is Suicidal.

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sorry about your Loss. with such an amount, you can start a commodity business, agriculture farming business, or open a provisions store in a good location.

Its also not a bad idea if you decide to use it to start a cute restaurant/eatery business. You can make money from any of these ventures.

But for any business you decide to go into, please make your research properly before investing your hard earned money.

All the best

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people are just adding more too here problem here let her do the forex thing okay but i will advise here to put just 50k that all am doing forex as well am just 4 days old in it

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Set up a small poultry farm for broilers or for egg production.

Get free details of the business from the website listed below.

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@ the poster , i will advise you to start a small poultry biz ,but i will want you to start with layers ,as egg is at high demand any day so to ensure continuity i will prifer you start with laying birds and fish farming. i will also like to tell you that you should start with small quantity since you dont have more idea of this biz but i want to assure you is a good biz, Happy farming

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You gave the best advice.

In addition, you can into selling of provision stuffs.

Nothing comes easy, you have to be ready to face life the way it is. God will support you as you take the right steps.

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Madam Sopie, I will advise to you go into something to do with Food, Cooked or Raw, I will say raw, Fishry, poultry, Snail farming etc, DO NOT PUT YOUR MONEY ON FOREX IT IS DANGEROUS especially in Nigeria you will regret it. They sound as if it will work but they are not being regulated at all in 9ja it is disastrous.

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A mini cybercafe or an upscale barbing salon may do

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That is a touchy question you asked there and like one of our member said, a lot of pple ill come and give a lot of scam ways of making money. have you tried importing, now dont get scared, am not talking of big time importation, i am talking of small time but that is guaranteed to make millions at the end of the year. i was let into a big secret of how to import things, UNLIMITED THINGS, laptops, books, etc for peanuts and sell them here in 9ja for massive profits. if you are interested in getting this info let me know by mailing me on wealth4lifeinc@yahoo.com or calling me on 08034191002.

john

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Hello if you are looking for a business idea, you can get my book titled 120 AND MORE BUSINESSES YOU CAN DO AND SUCCEED IN NIGERIA. To get a copy call 07031234855,01-7663076

www.120andmorebusinesses.blogspot.com

www.9jabusiness.blogspot.com

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A south African company is giving people business opportunity to be there own boss and also own there business for more info call gbenga 07036267865 you can check www.ifa.co.za

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Please be careful, don't invest on anything u're not too sure of.Keep the money in bank while still searching and pray about it. The Lord will see you through, He will supply all u need to take care of those kids cos He is ur strenght.

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Hello if you are looking for a business idea, you can get my book titled 120 AND MORE BUSINESSES YOU CAN DO AND SUCCEED IN NIGERIA. To get a copy call 07031234855,01-7663076

www.120andmorebusinesses.blogspot.com

www.9jabusiness.blogspot.com

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look for a good MLM company that has good product and start selling their products. There are many good books on network marketing that will inspire you to get started. Read the Greatest Net worker in the world.

If you know how to use computer and the internet very well, the let me know to send you a book for free. This book will help you get started.

But be very very careful if you are to invest in Forex or Stocks. Their returns are high but their risk margins are also high.

Take care

God will surely see you through

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I think the poultry guys has a good idea, cos Nigerians will soon be begging to buy chickens.

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forex pays if u know som1 dat knows it alot.

SHALOM

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Dont invest on forex trade is a silly idea. Dont mind them.

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What is Faxout?

Faxout is a fax over Internet Protocol service that is built to accept any type of document and send the document to any functional fax number worldwide. Received fax is sent to user email. No payment is made to receive unlimited faxes. Fax numbers are distributed free of charge.

How it works

The Faxout scratch card is used to send faxes from the internet. This is a very lucrative venture as Faxout services is an untapped business in Nigeria.

Faxout has 3 types

1. Leased line with 70 pieces of Faxout scratch card at N700 each. Start Up Cost N50,000

2. Leased line with 1000 pieces of Faxout scratch cards at N600 each. Start Up Cost N600, 000.

3. Dedicated and non-leased Fax line plus unlimited scratch cards. Equipment and setup Cost N760,000

Benefit

There is a minimum of 30% profit from investing in leased fax line business which includes Faxout scratch card printing and marketing. There is more than 70% profit from using a dedicated non-lease fax line for business which includes generating, printing and marketing Faxout scratch cards. More than ten Million (10,000,000) Faxout scratch cards are expected to be sold within one year.

Requirements

You can start your fax business without costly fax equipment, by using a leased line which cost from N50, 000.

The basic requirement for a new investor is N50, 000 only.

Advanced fax services will require that you must have dedicated fax equipment which costs N760, 000.

With only #50,000 you set up a living business, the more scratch card you market, the more profit you get. we can go into joint business so that the profits will be shared 50-50.

For more information: drosy85@yahoo.com or call 07080773792

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Hi friend, i will strongly advise u to go into fish farming and earn double of ur input within 4 months. If u want to know how it works, call me on 08068383977

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Hello Friend,

How will you like to see some good inflow of N1,000, N2,500 or even N5,000 paid into your bank account in just hours, even when you are attending to other businesses of yours? Here is a once in a life time opportunity.

cos this bizness everybody can do it like i do.

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Hello Friend,

How will you like to see some good inflow of N1,000, N2,500 or even N5,000 paid into your bank account in just hours, even when you are attending to other businesses of yours? Here is a once in a life time opportunity.

cos this bizness everybody can do it like i do.

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Friend, you can do a lot with N500,000. I advise you go into information marketing. You will do yourself a lot of good and at the same time make some cool profit.

But you need to learn the basic fundamentals of information marketing before you lunch forth.

Good luck!

If you are interested why call me on 07055253345, 07033148065

You are welcome!

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Amitage Partners-SME consultants

Amitage Partners is a small & medium businesses consulting firm specializing in helping owners grow their businesses and their bottom line, by responding to entrepreneurs' need for practical business and marketing services to turn their innovative ideas into successful business ventures.

Contact : info@amitagepartners.com

Lekan 017492114

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Dont go into a business you dont have control of. Dont do the forex thing with the last life money you have. It is  highly risky and alot of people have had their fingers burnt by high yield schemes like this. Do something you understand well enough or have trained yourself in, you can go

into some apprenticeship (work for someone in similar business you intend going into in order to understand before starting yours).

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There are a lot of things you can invest in with such amount. You can get a Brand new laptop for N15,000 only and sell it for N150,000 .Ooh its seems too good to be real uuh.Believe you me, you aint seen nothing yet, cause this aint no SCAM!!! for more information email me at uchechi700@yahoo.com.Thanks

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Please dont hurridly put the money into a business until you are sure of a good business that can survive and yield with 500K. Meanwhile bank the 500K in a reliable bank, I mean fix it, Will yield you a little Interest Until you are clear of what to use it for. Do your home work well. I wish you success.

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madam shopie,

I will not advice you to invest your hard earned money into forex you had better look for a business that you can monitor.

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