How to Start a Small Business in Nigeria Today Even If You Have No Money.

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Starting a small business in Nigeria today can seem daunting, especially if you have limited funds. However, with the right approach and mindset, it is possible to start a small business in Nigeria today even if you have no money.

Do You Want to Start a Small Business in Nigeria With Ease? Stick with me here and I promise to walk you through it all in a bit.

My name is Echez O’ Ford. I am a content writer, an entrepreneur, and a digital marker. But that is about some of the things I do. My joy comes from helping people like you start their online businesses with ease.

This article will provide a comprehensive guide and everything you need to launch your business, including tips on how to secure funding, create a business plan, and navigate the legal requirements.

Whether you’re an aspiring entrepreneur, you need a quick guide to be an importer, an experienced business owner, or someone looking for a low-capital business to do, this guide will help you take the first steps toward launching your own business.

Remember this is coming from someone who has almost tried it all. I have blamed my parents for not leaving me a fortune.

Sometimes I even blamed the government for not creating a ‘perfect system’ for me to make a decent living. I took comfort in blaming everything and everyone blamable.

But the reality of the matter is that, even with all of these legitimate reasons not to start a business, many people like you and me are going against all odds to start something for themselves and not rely on anybody.

You too can do the same, if you get a little help. And that help has come in the form of this piece you are reading now.

Patiently read through, but do not be content with only reading, be resolved to take action, and subscribe to our newsletter to get more. Join a community of people who are determined to succeed and do not forget to share the content so that others can benefit.

Echez O’ Ford

Now let us go straight to what we have:

To start a small business in Nigeria is possible and within your reach, Look around your immediate surroundings to find out what business you can start from where you are.

Your journey starts with a thorough research of what is going on around you, the need of people, and companies, and what solution they would want to see.

Start a Business By Researching the market to identify the goods or services in demand:

There are things peculiar to each environment. If you live around a higher institution neighborhood, you would want to start a business that will fulfill the needs of those who are in higher institutions, especially when the schools are in session.

Students like budget-friendly fashion-related goods. And once in a while, you can order and sell those priced goods too if you build a good network.

If you reside in an area mostly populated by churches, then look for a business that can satisfy the weekend crowds that gather and the countless night programs.

There is a saying that “In a gold rush, do not dig for gold, rather sell Shovels”

So instead of joining the majority in selling or starting a too-popular business, go for complementary goods. Instead of starting a school for elementary students, go for other things like providing commuter services, selling children’s lunch kits, etc.

So the bottom line is to look for a problem you can provide a solution to. You are reading this because you want to start a business. That is a problem for you, and now, I am providing a solution in the form of information you. That is the mindset you want to have as you plan for the launch of your business.

Examples of Small Businesses you can start in Nigeria today:

• Laundry and dry cleaning
• Fabric and fashion material dealer
• Restaurants, F & B
• Poultry
• Fish farming
• Dog rearing
• Copywriting agency
• Social media management
• Editor
• Graphic design
• Car spare parts dealership
• Car accessories dealership
• Housekeeping and cleaning business
• Car wash
• Real estate agency

For a full list of businesses, you can start today in Nigeria, go check out this article on 100 Small Businesses You Can Start In Nigeria Today With Little Capital. The next thing you want to do after reading that article is to sit down and plan out how to start your business.

Create a Business Plan That Outlines Your Target Market, Competition, and Marketing Strategy.

Don’t just jump into business. That is the easiest way to fail. After you have done your research, carry out a business plan. It does not need to be too elaborate at this stage.

Things you can include in your business plan exercise:

• Find and know your target market: the people you will sell to or provide service to.
• Who is already doing the business you intend to start? Can you handle the competition?
• List out the plans you have to beat your competition. Are there areas where they are not doing so well that you want to improve on?
• What is your marketing strategy?
• Will you work alone at the start or hire someone to help with some of the day-to-day runnings of the business?
• What is the start-up capital?
• Do you have all the resources for a start-up?
• What challenges do you foresee?

Putting all of the above in writing will guide you in making an informed decision. If you find out that something is not looking okay, you can replan at this stage. All of these will help minimize the chances of failure and heartache.

Register Your Business and Obtain Any Necessary Licenses:

Many of my students reason that this is not important at this stage. I do not disagree with them, however, it mostly depends on the type of business you are starting. There are so many business registration challenges you need to be aware of. So do your due diligence before you embark on the registration

For instance, if you are starting any business in the YMYL (Your Money, Your Life) sector, you certainly need some form of government recognition, a license, or a way to show that you are a real business and an authority in your niche.

Besides that, registering your business gives you legal recognition and shields you from some form of liability associated with running a business.

If you would ever need some form of loan, funding, contracts, etc, you will have to incorporate your business in some way.

You may likely start your business and upgrade it to a registered business as you gain traction and begin making some profit.

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Secure Funding For Your Business Through Loans or Investments For Your Business:

You probably do not have all the resources needed to smoothly start your business. This is where securing loans and funding comes in. You may need the help of a qualified lawyer or accountant to do that.

You can do it all alone though, but as a beginner, I strongly recommend you seek out professional help at this time. This will surely be cheaper for you in the long run, as you will have increased your chances of avoiding money-related problems and scams.

Set up your physical location or create an online presence:

People will be more likely to patronize and do business with you if you have a physical address. It does not have to be somewhere luxurious; your home address will do.

With a physical address, your mail can be delivered to you. If you are into importation, your goods will be delivered to you at the address you specify.

Obtain a Corporate Bank Account For Your Business.

Since you have gone through your business registration and are almost ready to start, it is good that you obtain a separate bank account to do business with.

People and companies trust you more when you issue an invoice with your business name as the account details.

In the event you want to obtain a loan or do a B2B kind of business, you must be able to have an official account number. In Nigeria, for example, a current account will do.

You may want to consider a domiciliary account if you plan to do business with people from other countries, like import and export.

Build a Website For Your Business:

A good business cannot reach its full potential without a website. As the world has become more online than ever before, you will need a website to showcase your business.

Do not go for a complicated web design; for a start, you can make do with a simple WordPress site with a home page, about us page, FAQ, contact page, privacy policy, and the services you render.

We can help you figure this part out and design a good website to meet up with today’s requirements. Website creation is part of what we do here at Success Zenith, and our prices are so friendly that you will know at once that we want you to succeed.

Launch Your Business and Start Reaching Out To Customers.

If you keep planning and planning, you will be stuck in the practice of planning for years without taking action. So start your business as soon as you have done the above.

Things cannot be perfect at the beginning. But as you go, you will always prune things up and incorporate other necessary elements of running a good business.

Once your business is launched, start telling your friends and family about the new thing in town. They are your first line of advertising. They will help you spread the word.

Be sure to contact us, so we can work together to get your business off the ground. We have the necessary experience, skill set, and resources to get your business going.

Please tell us your challenges, concerns, and fears in starting a business of your own in the comment section, and I promise to reply to you.

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