Starting a business with no capital sounds like a joke, especially in this economy. You’ve probably heard it before: “You need money to make money”. And while this is true, it’s still very possible for you to start a business with no capital.
If you’re a young adult in Nigeria still trying to find a balance, you know how difficult it is as the economy is not smiling at anyone, and the bills keep on piling daily.
Therefore, this blog post is a guide—one that shares real business ideas you can start with zero capital.
Business Ideas You Can Start With No Capital In Nigeria
Affiliate Marketing
Affiliate marketing is a business model where you promote other companies’ products or services and earn a commission on sales made through your unique referral link. As an affiliate marketer, you can partner with brands and promote their products or services through your content. The key to building a successful business as an affiliate marketer is by building a credible social media handle and fostering trust between you and your audience.
While this business requires zero capital to start, it requires a great deal of marketing and consistency. Here are the top affiliate marketing platforms to help you get started.
Freelancing
If you have any skills in writing, designing, social media management or programming, you could turn your skills into a service. A freelancer is an individual who works independently and offers services to clients on a contract basis. You don’t need a startup fund to start freelancing, as long as you have a smartphone and data, you can get started.
In addition, there are a lot of free tutorials on YouTube that can help you hone your skills. You can also read books and understand more about the service you want to start rendering to clients.
Furthermore, platforms like Upwork, Fiverr and even LinkedIn make it easy for you to bid for jobs, showcase your skills or connect with potential clients.
The beauty of freelancing is that you can learn, work and grow at the same time.
Event planning- Start a business with no capital
Event planning is a service that many businesses and individuals seek out. Whether you’re preparing a birthday party, a proposal or wedding- event planners are always sought for. When starting out with this business, you can start small with occasions such as proposals, baby showers or birthday parties. As long as you’re creative, pay attention to details and know how to organize events, this business is for you.
Hairdressing
If you already know how to braid, fix wigs and revamp wigs-you should be looking at this business model. You don’t need a shop or salon to get started as a hairdresser. You can braid hair for your siblings or friends and share it on social media. Moreover, you can encourage them to promote it on their pages too. In that way, you’re not only marketing yourself but also utilizing the user-generated content.
In addition, as long as your work is neat, customers are willing to come to you or pay the extra price for a home service. A friend of mine once made a living during our school days just by braiding people’s hair. As long as you’re consistent and have good customer service, people will patronize you.
Dropshipping
This business is similar to affiliate marketing, but not the same. Dropshipping is a business model where you sell products online without holding inventory.
For instance, if you’re interested in selling bags, wigs or shoes, you can find a supplier who already has the product. Then you can start marketing on the platforms where you’re active. When someone places an order, you pay the supplier, and they deliver straight to the customer. As long as you work with a reliable vendor, you can make money with your phone, internet connection and consistency.
Content creation
As a content creator, you can shoot clean, simple and relatable videos and post them online. When done consistently, businesses and brands will partner with you to promote their products or services. You don’t need to be an influencer with thousands of followers, you just need to be consistent.
Cleaning services
Some people will pay you to clean their house because they’re too busy to do it themselves. They might have long work hours, a busy family life, or travel often for their jobs. Many just want to come home to a clean space after being away. Others might hire help around the holidays to get their house ready for guests or to enjoy a fresh, clean home. No matter the reason, people often need help keeping their homes clean when life gets busy.
Tutoring or online coaching
This works best if you have experience or you’re an expert in a particular field or subject, language or skill. You can promote your skills and tutor students in subjects like maths or English, or you can focus on coaching services such as writing, graphic design, career development or web development.
You can advertise your services on social media platforms like LinkedIn, TikTok and Instagram. People want to learn and are ready to pay as long as they get quality teaching for what they paid for.
What To Keep In Mind When Starting A Business With No Capital
There are lots of businesses that require zero capital at the beginning. However, you need to understand that these business ideas do not make you money immediately you start. You need to be tenacious, consistent, persistent and relentless. Whether you’re trying to go into dropshipping, freelancing or any other type of business, you need to be ready to put in the work.
In addition, find ways to connect and collaborate with other people ahead of you in your line of business. This helps to build trust, authenticity and credibility faster.
Conclusion- Start A Business With No Capital
Starting a business with no capital might sound like a half baked truth, but I know a handmade shoe vendor who started with zero capital. She had no money at the beginning but what she had was a zeal to make it. Now she has a 6-figure brand, hosts coaching classes on how to start business and is also a freelancer. Difficult doesn’t mean impossible.
