Often times, lack of capital prevents budding entrepreneurs from achieving their goal of becoming a boss. Many people strive towards owning their own company, but only a few actually have the courage to start when they are low on cash.
Generally, women are great at multi-tasking and tend to channel this strength into making so much out of nothing. They are known to exhibit a steady and increasing economic standing in the society, due to their innate entrepreneurial abilities. Nigeria has one of the highest numbers of entrepreneurs in the world, yet female entrepreneurs in Nigeria often struggle to secure investment. When it comes to small businesses, you really do not need a loan to start. With as low as N10, 000 – N50, 000, you can be a boss doing any of these lucrative businesses.
Here are 10 low-cost business ideas for female entrepreneurs.
The consulting business is one the best business ideas for women entrepreneurs and can be spearheaded with low cost or no cost. Existing businesses usually require the assistance of a consultant for professional advice. Irrespective of your field of study, you can carry out a research to enhance your knowledge on a particular topic and then offer solutions to company seeking answers.
2. Content Writing
If you write for fun, you can write for a living. You can provide literally content for companies, journals, magazines and blogs. You can also write and sell e-copies of your book. You can offer online copy writing and editing services for a fee. Also, you can become a blogger and create a niche for yourself – fashion, business, entertainment and more. All you need is a computer and internet to get your business started.
3. Digital Marketing
In today’s world where everything has been digitalized, you can make good use of various social media platforms to advertise as long as you have the internet. Once you have a personal online sharing platform, you can have business owners advertise their products to your audience. Asides having Google ads and other paid ads, you can use your Social Media handles, especially Facebook and Instagram to sell products and/or services.
4. Baby Sitting
Women are generally good with babies, whether they have one or not. You can use this natural nurturing skills to take care of children whose parents are busy making money, and off course, get paid for it. You might meet some hurdles at the initial stage in getting parents to trust you with their children, but with time they will come around.
5. Event Planning
People celebrate birthdays, bridal/baby showers, and other events every now and then. Start from family and friends to help them organize little events, and with time grow your skills to a point where you can handle corporate hospitality events and even weddings. To strive well in this career, you need vendors, interior decorators, caterers, MCs, DJs and ushers that will work closely with you.
6. Real Estate Agent
In big cities like Lagos, Port-Harcourt and Abuja where houses/lands area a hotcake, real estate agents make a good amount of money from renting and selling properties. To start this business, you need patience, hard work and time to scout for available properties and people who need them.
7. Fitness Instructor
Staying fit is the new sexy and more people are becoming aware of the importance of exercise. Running a fitness/aerobic center demands careful planning and research. You also need to be trained in order to train others and there are a million and one videos online that offer training on different exercise therapies. You can start your classes in your compound, on a quiet street, in front of a commercial building, on a rooftop, or any empty space available for free use.
8. Recruitment Agency
Every small and big business need to hire manpower and you can bridge the gap between employees and job seekers. You can provide the services like temporary and permanent staffing, choosing the right candidate etc. With an internet-enabled computer and a smart phone, you are good to go on this one.
9. Travel Agency/Tour Guide
Most people are too busy to book their flight tickets and hotel accommodation, thereby giving travel agencies a handful of a job. You can combine the services of a travel agent with that of a tour guide. Help travelers with information on directions, local cultures and food vendors of locations they are visiting. It’s a fun job and you can grow your company from a one-man agency to a multi-national company by being both charismatic and professional.
Pre-decide your students – children, adults or the aged, and then equip yourself in that line so you can impact effectively. To be on a safe side, teach any of the groups that can easily understand your teaching pattern and who you can manage effectively. Once again, you don’t need capital to start this business, however, you need patience, love and discipline.