5 Online Businesses You Can Start With No Money In Nigeria
60 percent of Nigeria's population fall under the category of youths and according to a 2022 unemployment index report, over 50 percent of the young citizens are unemployed or underemployed.
There has been a rising challenge of unemployment in the country, with each year seeing an increase in the number of young men and women who are without jobs.
People have had to resort to entrepreneurship and finding alternative ways of making income online and offline since the federal Government seems to lack ideas on how to tackle the problem.
However, the major challenge most young Nigerians are faced with, is finding the capital to start business even if they have the ideas. Millions of youths in the country have internet enabled devices, but many do not know how they can use that to their advantage, so they just browse through online contents without any aim or goal.
Starting an online business without capital can be challenging, but it's not impossible. Here are some examples of online businesses you can start without upfront investment:
With dropshipping, you can sell products online without stocking inventory. You create an online store, partner with suppliers who handle product storage and shipping, and only purchase items when customers place orders. You earn profits by charging a markup on the product price.
You can set up an online store selling trendy clothing and accessories from various suppliers. When a customer places an order, the supplier ships the product directly to the customer, and you earn a profit from the price difference.
2. Affiliate Marketing
This business model involves promoting other companies' products or services and earning a commission for each sale or lead generated through your referral. You don't need to create or stock products; instead, you focus on marketing and driving traffic to your affiliate links.
You can create a blog or YouTube channel focused on reviewing tech gadgets. By joining an affiliate program like Amazon Associates, you can generate affiliate links for the products you review. When your audience purchases through your links, you earn a commission.
3. Print-on-Demand (POD)
POD allows you to design and sell custom products like t-shirts, mugs, or phone cases without the need for inventory. You collaborate with a POD provider who prints and ships products on-demand as customers place orders.
You can create an online store featuring your unique artwork or designs. Whenever a customer orders a product with your design, the POD provider prints it and ships it directly to the customer, and you earn a profit.
If you possess specific skills, you can offer your services as a freelancer. You can provide services such as writing, graphic design, web development, social media management, or virtual assistance.
As a freelance writer, you can offer your services on platforms like Upwork, Freelancer, or Fiverr. Clients hire you for writing articles, blog posts, or website content, and you charge a fee for your work.
5. Online Consulting
If you have expertise in a particular field, you can offer consulting services online. You provide advice, guidance, and solutions to clients who need assistance with specific challenges.
Let's say you have extensive experience in digital marketing. You can create a website to showcase your skills and knowledge, and offer consulting services to businesses seeking help with their online marketing strategies.
Remember, even though these businesses can be started without capital, they still require time, effort, and skill to be successful. Building a solid online presence, marketing your business, and delivering value to customers are crucial factors for long-term success.