20 Small Businesses You Can Start Online for as Low as ₦100,000

Starting a business doesn’t have to be expensive. With the rise of the internet, there are numerous opportunities to build a small online business with a minimal investment. If you have 100,000 Naira, you can kickstart a profitable venture from the comfort of your home. In this post, we’ll explore 20 affordable online business ideas, offer step-by-step guidance, provide practical tips, potential profit estimates, and identify common challenges to help you get started.

1. Mini Importation Business

What It Is: Buy items in bulk from foreign suppliers (often from China) and sell them online at a profit.
How to Start:
1. Research high-demand products in Nigeria.
2. Register on platforms like AliExpress or Alibaba.
3. Purchase products in bulk.
4. Create a sales page or use social media to market.
Potential Profit: ?20,000 - ?80,000 monthly.
Challenges: Shipping delays, customs fees, and competition.
Best Practice: Start with lightweight and in-demand products to reduce shipping costs.

2. Freelance Writing

What It Is: Provide content writing, copywriting, or blogging services for businesses and individuals.
How to Start:
1. Build a writing portfolio.
2. Join freelance platforms like Upwork, Fiverr, or local Nigerian platforms.
3. Market your services on LinkedIn or Facebook.
Potential Profit: ?30,000 - ?100,000 per month, depending on workload.
Challenges: Finding clients initially and meeting deadlines.
Best Practice: Specialize in a niche (e.g., finance, tech) to attract higher-paying clients.

3. Social Media Management

What It Is: Manage and grow social media pages for small businesses.
How to Start:
1. Take an online course on social media management.
2. Set up a business page showcasing your skills.
3. Reach out to local businesses offering your services.
Potential Profit: ?50,000 - ?150,000 monthly.
Challenges: Staying updated with trends and handling multiple accounts.
Best Practice: Use scheduling tools like Buffer or Hootsuite to streamline tasks.

4. Affiliate Marketing

What It Is: Promote products from other businesses and earn a commission for each sale.
How to Start:
1. Register with affiliate platforms like Jumia KOL or Konga Affiliate Program.
2. Choose products related to a niche you're interested in.
3. Promote through a blog, YouTube channel, or social media.
Potential Profit: ?20,000 - ?80,000 monthly.
Challenges: Building a large following and earning trust.
Best Practice: Focus on one niche and build authority before expanding.

5. Dropshipping

What It Is: Sell products without holding inventory. Suppliers handle shipping directly to customers.
How to Start:
1. Create an online store using platforms like Shopify or WooCommerce.
2. Partner with suppliers that offer dropshipping.
3. Market your products on social media or through paid ads.
Potential Profit: ?30,000 - ?100,000 monthly.
Challenges: Managing customer expectations and handling returns.
Best Practice: Choose suppliers with good reviews to ensure quality.

6. Graphic Design

What It Is: Create logos, social media graphics, and marketing materials for businesses.
How to Start:
1. Invest in design software like Canva or Adobe Illustrator.
2. Build a portfolio with sample work.
3. Advertise your services on social media and freelance platforms.
Potential Profit: ?40,000 - ?150,000 monthly.
Challenges: Keeping up with design trends.
Best Practice: Continuously update your skills with online design courses.

7. Online Tutoring

What It Is: Teach subjects you’re knowledgeable in to students online.
How to Start:
1. Decide on subjects you can teach.
2. Create lesson plans and teaching materials.
3. Market your services on educational platforms or social media.
Potential Profit: ?30,000 - ?80,000 monthly.
Challenges: Managing different learning styles.
Best Practice: Use platforms like Zoom for online classes and provide a structured learning path.

8. E-book Publishing

What It Is: Write and sell e-books on topics you are knowledgeable about.
How to Start:
1. Choose a topic that’s in demand.
2. Write or hire a writer to create the e-book.
3. Publish on platforms like Amazon Kindle or Selar.
Potential Profit: ?20,000 - ?100,000 monthly.
Challenges: Marketing the e-book to the right audience.
Best Practice: Invest in a good cover design and do keyword research for your topic.

9. Print on Demand Business

What It Is: Sell custom-designed products like T-shirts, mugs, and phone cases without holding inventory.
How to Start:
1. Design or hire someone to create designs.
2. Use platforms like Printful or Teespring.
3. Market on social media or build a niche website.
Potential Profit: ?20,000 - ?80,000 monthly.
Challenges: Creating unique designs that sell.
Best Practice: Focus on a niche like funny quotes or Nigerian culture.

10. Virtual Assistant

What It Is: Offer administrative support to businesses remotely.
How to Start:
1. Identify services you can offer (email management, scheduling, data entry).
2. Create a business profile on Upwork or Fiverr.
3. Network on platforms like LinkedIn.
Potential Profit: ?40,000 - ?120,000 monthly.
Challenges: Juggling multiple clients and meeting deadlines.
Best Practice: Specialize in a specific type of administrative support.

11. YouTube Channel

What It Is: Create video content on topics you are passionate about, such as cooking, tech reviews, or education.
How to Start:
1. Choose a niche and create a YouTube account.
2. Invest in basic video equipment (like a good phone camera or microphone).
3. Consistently upload engaging and valuable content.
Potential Profit: ?20,000 - ?150,000 monthly (once monetized).
Challenges: Gaining subscribers and meeting YouTube's monetization criteria.
Best Practice: Focus on consistent content creation and engage with your audience regularly.

12. Blogging

What It Is: Start a blog on a topic you are passionate about and monetize through ads or affiliate marketing.
How to Start:
1. Choose a niche and set up a blog using platforms like WordPress or Blogger.
2. Create quality content that targets popular keywords.
3. Monetize using Google AdSense or affiliate links.
Potential Profit: ?30,000 - ?200,000 monthly.
Challenges: Driving traffic to your blog and competing with established sites.
Best Practice: Focus on Search Engine Optimization (SEO) to increase visibility.

13. Data Reselling

What It Is: Buy bulk data from a network provider and resell to consumers at a profit.
How to Start:
1. Register with a reliable data reselling company.
2. Purchase a data plan in bulk.
3. Advertise on social media or set up a WhatsApp group for regular customers.
Potential Profit: ?20,000 - ?70,000 monthly.
Challenges: Network reliability and handling customer complaints.
Best Practice: Choose a trustworthy provider to ensure quality service.

14. Domain Flipping

What It Is: Buy domain names at a low price and sell them at a higher price to interested buyers.
How to Start:
1. Research trending or potential domain names.
2. Purchase domains using platforms like GoDaddy.
3. List the domains for sale on marketplaces like Sedo or Flippa.
Potential Profit: ?30,000 - ?200,000 per domain.
Challenges: Predicting which domain names will be in demand.
Best Practice: Focus on short, memorable, and industry-specific domains.

15. Digital Product Sales (e.g., Online Courses)

What It Is: Create and sell digital products like online courses, templates, or digital art.
How to Start:
1. Choose a topic you are knowledgeable about.
2. Create the digital product using tools like Canva or PowerPoint.
3. Sell on platforms like Udemy, Teachable, or Sellfy.
Potential Profit: ?40,000 - ?150,000 monthly.
Challenges: Marketing your digital products effectively.
Best Practice: Use social media and email marketing to promote your products.

16. Virtual Event Planning

What It Is: Organize and manage online events, webinars, or virtual conferences.
How to Start:
1. Learn about virtual event platforms like Zoom or Microsoft Teams.
2. Build a website or social media page to advertise your services.
3. Connect with local businesses or influencers in need of virtual event services.
Potential Profit: ?50,000 - ?200,000 per event.
Challenges: Managing technology and handling unexpected disruptions.
Best Practice: Conduct rehearsals before each event to avoid technical issues.

17. Photography Business

What It Is: Take professional photos and sell them online or offer photography services for events.
How to Start:
1. Invest in a good camera or a quality smartphone with a good camera.
2. Create a portfolio of your best work.
3. Advertise on social media and platforms like Instagram.
Potential Profit: ?30,000 - ?100,000 monthly.
Challenges: Competing with established photographers and getting clients.
Best Practice: Specialize in a niche (e.g., wedding photography, product photography) and focus on quality.

18. Website Design

What It Is: Design and build websites for businesses or individuals.
How to Start:
1. Learn website design using platforms like WordPress, Wix, or HTML/CSS.
2. Create a portfolio showcasing previous work or mock-ups.
3. Market your services on freelance platforms or social media.
Potential Profit: ?50,000 - ?200,000 per project.
Challenges: Keeping up with the latest design trends and dealing with demanding clients.
Best Practice: Start with simple projects and gradually take on more complex websites as you gain experience.

19. Translation Services

What It Is: Provide translation services for documents, websites, or audio files in languages you are fluent in.
How to Start:
1. List your services on freelance platforms like Fiverr or Upwork.
2. Advertise on local forums or LinkedIn.
3. Specialize in a particular field (e.g., legal, medical, or business translation).
Potential Profit: ?40,000 - ?120,000 monthly.
Challenges: Finding clients and ensuring accuracy in translations.
Best Practice: Use tools like Grammarly or ProZ.com for assistance, and proofread translations carefully.

20. App Testing or Review Service

What It Is: Test and review apps for developers, providing feedback on functionality and user experience.
How to Start:
1. Sign up on platforms like UserTesting or Testbirds.
2. Create a website offering app review services.
3. Reach out to indie developers who may need testers.
Potential Profit: ?20,000 - ?70,000 monthly.
Challenges: Dealing with apps that may have bugs or technical issues.
Best Practice: Provide detailed, constructive feedback and build a reputation for reliability.

Best Practices for Starting an Online Business

Start Small: Don't try to do everything at once. Focus on one business idea, test it, and grow from there.
Market Research: Understand your target market. Who are they, what do they want, and where can you reach them?
Have a Budget: Stick to your 100,000 Naira budget. Allocate funds for essentials like marketing, tools, and any initial inventory.
Invest in Learning: Use free online courses and YouTube tutorials to upgrade your skills before starting.
Focus on Customer Service: Great customer service can set you apart in the competitive online market.

Potential Challenges

Internet and Power Issues: Unreliable power supply or internet can disrupt your business operations.
Competition: Many online businesses are easy to start, leading to high competition.
Trust Issues: Gaining the trust of online customers, especially in Nigeria, can be challenging.
Shipping Problems: For businesses dealing with physical products, managing shipping logistics can be a challenge.

Practical Steps for Any Online Business

Step 1: Choose Your Niche Decide on a specific area you want to focus on. Your niche should align with your skills, interests, and what’s in demand.
Step 2: Create a Business Plan Outline your goals, budget, target audience, and strategies. A simple plan will guide your steps and keep you focused.
Step 3: Set Up Your Online Presence Choose a platform for your business—whether it’s a website, a Facebook page, or an Instagram profile. Make sure it looks professional.
Step 4: Market Your Business Use social media, paid ads, or influencer marketing to reach your target audience. Consistent marketing can help you build a loyal customer base.
Step 5: Track and Improve Keep an eye on what’s working and what’s not. Use tools like Google Analytics or social media insights to track your performance.