Home Articles & Editorials 10 business ideas to become rich at a young age in this...

10 business ideas to become rich at a young age in this recession – You only need N5,000 to start #2 & #4

Inspiring Business idea: Hello aspiring and existing young entrepreneurs, I hope life is treating you guys good? I do believe it is despite the present tight economy, which should also give you more zeal to start up a thriving business now. Today, I want to share with you, some business ideas you can startup from your home, school or office with anything between ₦20,000 – ₦100,000 ($100 – $500). The ideas I am about to share with you is mainly for small scale startups with Nigeria as the business environment, and it is mainly for people with little or no startup capital, but willing to succeed in small scale business venture.


First, let me share my own personal experience with you to encourage and inspire you to start up a business today.

I have always loved to do business even while I was still in the higher institution studying.

I would buy things in Lagos and resell in my campus and make good profit margin that helped sustain me in school.

Immediately after my graduation in 2008, I started another business; computer game center with football viewing section, which earned me very good money that I also used to sustain myself and prepare for my NYSC.

I made an average of ₦2000 – ₦3,500 everyday on this business, and it was a partnership business. I didn’t have enough money to start the business alone, so I convinced a family member and partnered with him to startup the business, so we shared the profit according to our contribution, strictly business terms no bringing in family sympathy.

Shortly after my NYSC, I ventured into another business because the other business shutdown due to poor management by the people I handed it over to while going for my NYSC.

So I relocated to Lagos after my NYSC and started another business in partnership with a secondary school classmate I reconnected with at a Church service in Lagos.

This time, it was diesel supply business. I used this to keep myself busy while applying for jobs and attending interviews.

From there, I saved up some capital too before I got a small job and quit the business- my mistake number 1! Don’t quit your business for any job that pays less than ₦150,000 as at today.

Consistency is the key to success in business and entrepreneurship; be consistent in one business and let people know you with that one business, and you will sure become a success with time; I applied this principle in my business life, and today, it has paid me hugely.

Now, let. Me spare you guys the long stories…

Haven been active in business for some years now, I can boldly tell you that there are still businesses you can start from your home or office with anything between ₦20,000 to ₦100,000 and still make profit, and they include:

1. Sales of Mobile Phone Accessories
No doubt, gadgets and phones are one of the hottest products to sell in Nigeria today; this owe tribute to the increasing demand of modern communication amongst young and old Nigerians. With just ₦30,000, you can start a phone accessory sales business. You can contact me for details of how to buy phone accessories at cheap wholesale price.

My E-mail is: [email protected]

Use your ← → (arrow) keys to browse

Leave a Reply