Starting a business with limited capital can be challenging, but it is not impossible. In fact, there are many profitable business ideas that can be started with as little as ₦100,000 ($130) or less. If you are a budding entrepreneur looking to start a small business in 2023, here are 10 profitable business ideas that you can consider:
1. Cleaning Services: Starting a cleaning service business requires minimal investment in cleaning supplies and transportation. You can offer your services to residential and commercial clients, and expand your business as you grow.
2. Event Planning: If you are organized and have a knack for planning events, starting an event planning business can be a lucrative venture. You can start small by focusing on small-scale events such as birthday parties and baby showers.
3. Social Media Management: With the rise of social media, businesses are in need of social media managers to help them grow their online presence. You can start a social media management business from home and offer your services to small businesses in your area.
4. Freelance Writing: If you have strong writing skills, you can start a freelance writing business without any initial investment. You can offer your writing services to blogs, websites, and businesses in need of content.
5. Personal Training: If you are passionate about fitness, starting a personal training business can be a great way to make money. You can offer your services to clients in your area and train them in a local park or at their homes.
6. Homemade Products: If you are skilled at making homemade products such as soaps, candles, or jewelry, you can start a small business selling your products online or at local markets.
7. Tutoring Services: If you have expertise in a particular subject, you can start a tutoring business and offer your services to students in your area. You can start with a few students and gradually expand your business.
8. Pet Sitting and Dog Walking: If you love animals, starting a pet sitting and dog walking business can be a profitable venture. You can offer your services to pet owners in your neighborhood and expand your business through word-of-mouth referrals.
9. Mobile Car Wash: Starting a mobile car wash business requires minimal investment in cleaning supplies and transportation. You can offer your services to car owners at their homes or offices, making it convenient for your clients.
10. Homemade Food Business: If you are passionate about cooking, you can start a small business selling homemade food such as baked goods, snacks, or meals. You can sell your products at local markets, through social media, or by offering delivery services.
These are just a few profitable business ideas that can be started with ₦100,000 ($130) or less. With hard work, dedication, and a strategic business plan, you can turn any of these ideas into a successful business in 2023. Remember to research your market, create a solid business plan, and continuously adapt and improve your business to achieve success.
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