As a Nigerian youth, completely depending on a white-collar job in recent times is not feasible. This is because there are more job seekers than available jobs. According to the Nigeria Labour Force Survey (2024), the unemployment rate among persons with post-secondary education was 9.0% in its first quarter (Q1 2024). However, one solution to this challenge is to do business, even if it’s a microbusiness.
Although businesses come in different sizes and costs, a microbusiness comes at a lower to zero cost. Sometimes, all it takes is your willingness to go for it. So the question is, are you interested in becoming a microbusiness owner?
This is why this article is here. It will explain microbusinesses, the ones you can start in Nigeria as a youth, and what to consider before starting. In the end, you should be confident in making your choice.
What is a Microbusiness?
Imagine that in your neighbourhood, a lady runs a mini bakery. She bakes a couple of cupcakes and other styles of cakes, some pastries here and there, and she has just an assistant or maybe two who help her bake.
She doesn’t supply the world with her cakes, but she does the little she can for her locality and the customers within her reach. This is what we describe as a microbusiness.
A microbusiness is a small business with a few employees, usually ranging from none to about nine, and has considerable sales within a market niche. It is often characterized by low start-up capital, small size, and a simple organizational structure. It can sometimes be called a one-person army business because of its nature.
Read also: Successful business in Nigeria: How to start and grow one
Microbusiness Ideas to Consider in Nigeria
Scattered across the country, like Nigeria, are microbusiness owners, thriving in one form of business or another, all in a bid to make ends meet.
You can only imagine the different kinds of businesses they go into. This section will consider the eight micro-companies you can start with low capital. Some of them may require your skills and intellect as capital. Let’s take a look at some:
1. Food Catering Services
When you think about catering services, the first thing that comes to mind is “good food.” One of the basic needs of a human being is how to satisfy hunger.
If you desire to cook and know you’re good at it, consider starting a catering service. Although there are very big catering service merchants you can readily think about, understand that they began somewhere.
We’re talking about starting small. You know you can begin the catering service where you are currently. How?
As long as you can cook, and you’ve done trials with people to taste your food, and they love your cooking, then you can begin advertising your skill through word of mouth or social media that you can cook and are ready to do so for those who can’t.
Nigeria is a home for many delicacies; if you’re good at that, trust me, you can make money from doing so. About the capital? You may not need so much to begin this microbusiness.
All you need is an interested customer. With a little money, you can make the dish your customers request, and you’re done on to the next customer. If you apply excellence and diligence, you’ll succeed in your pursuit.
2. Mobile Repair Services
We live in a digitized era where many tech companies release new gadgets as often as possible. This entails that these gadgets will also need repair at some point. What if you position yourself with the skill and expertise to fix hardware issues on mobile phones and tablets? You’ll make a considerable amount of money if you do.
You may ask, How can I start? You can begin by gaining knowledge and skills if you don’t already have them. Additionally, you can be an intern in a mobile repair store for a stipulated time. After that, you can acquire the tools (not too expensive) needed to begin mobile repairs as a microbusiness.
Do you need a store? Not necessarily. You may begin in your house or rent a store at a very low cost and then expand. Research shows that the more customers you can satisfy with your services, the more customers you’ll have. Hence, your focus is to render excellent services rather than getting more customers.
3. Event Planning
Planning events do not require your own money to execute them. To plan events is what the word is: “plan.” It means that you’re helping someone or an organization plan their event. If you’re great at putting things in place and ensuring your plan goes accordingly, consider starting an event-planning microbusiness.
Although you may eventually need to become a brand and make your name in the event planning business, you can start from where you are as time goes on.
Event planning is about knowing and meeting your client’s needs at the most affordable price. This means that you’ll need to know the nature of the event, whether it’s a wedding, luncheon, funeral or birthday.
Another thing you’ll need is to get the right vendors to contract for every segment of the event, including the decorations, lighting, food and drinks, and music.
Furthermore, you’ll need strong attention to detail, creativity, communication, and negotiation skills to thrive as an event planner. One you tick these in your checklist, you can start by telling people what you do and remaining consistent until you get your first job.
4. Graphic Designing
In Nigeria and other parts of the world, graphic design is one of the most lucrative careers anyone who loves it could do. It doesn’t require much. With a good computer, you’re set. If you’re interested in creating catchy, beautiful, and needful designs, then graphic design is for you.
Suppose you’re interested in making graphic design a microbusiness, you need to learn all there is to become a graphic designer: make attractive designs that inform people about what you do and then spread the word using different social media channels like WhatsApp, Facebook, and Instagram.
The more people know what you do and that you do it with excellence, the more you’ll get them to patronize you. Also, do not stop learning as you go because you’ll need to improve with time.
5. Freelance Writing
For freelance writing, all you need is yourself. Yes, you! Your capital is your writing skills and every skill you need to become a successful writer.
Writers are always in demand for different writing exercises, including copywriting, academic writing, speech writing, technical writing, ghostwriting, book writing, blog and article writing, and many others.
You need to identify where you want to belong and then start up. With AI writing tools, writing has been made even easier, but it has also caused many writers to lose their jobs and relevance.
So, if you must write, you must add a human touch. Make sure you know what you want to write, do your research, and also ensure you write in a human-like tone. It is what separates a human-written piece from a robot.
To become a freelance writer, you’ll need to have an interest in writing first. The fact that writing is lucrative doesn’t mean you should do it. You need to be sure that’s what you want.
Once you’ve got the writing skills you want, it’s time to search for jobs. Get on social media platforms like LinkedIn, Upwork, Freelance, and Fiverr. to showcase your skills. Keep spreading the word about what you do, and expect results.
6. Online Tutoring
Offering courses to an online audience is also a means of earning income. If you’re good with tutoring, then it’s time to do so to a larger audience—an online audience.
Sometimes, teaching those you are in direct contact with can be easier because you can relate to them and understand their body language. This doesn’t mean you cannot offer the same to an online audience—your students.
So, when it comes to online tutoring, it can come in several ways: creating online courses like Coursera; having online students that you speak to directly, like on WhatsApp and Telegram; or even making videos of your lectures and then posting them on YouTube for people to watch and probably subscribe to your channel.
But on a basic level, online tutoring requires skills, data, and a computer or mobile device. Also, make sure you’re actively letting others know you offer lectures online. With all these, achieving success is only a matter of time.
7. Cleaning Services
Cleaning services is another microbusiness that not so many Nigerian youths pay attention to, yet it’s a business you can start because it requires little capital.
In Nigeria, there’s a demand for cleaning services, especially in new houses, homes where those who live there may not have the time to clean, and many other instances. In addition, it does not require any form of formal education or any special skill. If you can clean well, you can thrive in this business.
All you need to do is understand what makes your job easy, acquire it, and surprise your clients with your service. Make sure people know what you do and that you do it excellently.
8. Affiliate Marketing
Affiliate marketing is a very lucrative microbusiness that you can begin with zero capital.
You don’t need to have any products to sell; you need to know who sells what people need, help them share the link through which customers can purchase any product they need, and then earn commission from their purchase. It’s simple.
To become an affiliate marketer, you can start by signing up with companies that permit affiliates, like the Amazon and Jumia affiliate programs.
You can also help companies or individuals market their products online and earn from them. Once you’re an affiliate, begin advertising on your social media platforms to let everyone know what you do, and the more they know and buy through your link, the more your commission rolls in.
What to Consider Before Starting as a Microbusiness Owner
Before starting any of the microbusinesses listed above, you need to consider the following:
1. Passion and Skills
You need to have passion for whatever you intend to go into. Although there are some cases where people go into a business they don’t like and succeed, having passion in the business area you want to begin is better.
Facts show that you’ll succeed more in fields you love than those you don’t. Skills are also something you must consider. You must also learn and apply the skills you’ll need for your business choice.
2. Market Demand
Having passion and skill may not be enough when starting a business. You must consider market demand, who needs your product, and the quantity.
You can either create and meet a need or meet existing ones, which is better. Ensure your business will solve a problem; otherwise, do not start!
3. Preferred Customers
Who is your business for? This is one question you must answer before you even begin. Will your customers be children, teenagers, adults, or older people? Identifying your target market will give your business the chance to thrive.
4. Financial Preparedness
Although businesses of a small nature require very little capital, you must be ready to make the necessary financial commitment to see your business grow. Moreover, you must count the cost required to start and then be ready to make the money available.
Read also: Cash flow management: Key to business success and stability
Conclusion
Microbusinesses pose a solution for young people in Nigeria who do not want to depend on white-collar jobs alone but may not have the huge capital to finance a business.
We have discussed eight businesses you can start, first considering your passion and skill, customers, market demand, and finance. These should give you the confidence to decide which business to start with the goal of becoming one of Nigeria’s biggest brands.