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To some people, the word “investing” may turn out to be a big one. You probably feel like investing in small scale businesses means that you must have a lot of money before figuring out where to channel it into.
Well I’m here to tell you that you are both correct and wrong.
Investments can be both in large scale and small scales. Though, it mainly depends on how much you have in your bank account. I will make sure I break it all down for you before the end of this article.
Large scale businesses
A large scale investment is one which requires a huge start up capital and investors. It involves innovation of companies targeted at solving major problems. Large scale investments profits those who have access to wealthy investors who are going to invest in the company’s business. You are going to be employing workers for different roles in this kind of venture.
Examples of large scale businesses are:
- Car manufacturing
- Application development
- Large scale agriculture
- Machine language and Artificial Intelligence Learning firm
- Starting a school
- Gadget manufacturing company
Now, Let’s talk about small scale investments.
Small scale businesses
Small scale businesses are characterized mainly by how much you start with. You do not necessarily need to employ anyone for your small businesses. Though it is always advisable to start small. Most big companies today started out small, so you never can tell how far your small business will go.
In this article, I’m going to tell you 5 small scale business you can start with less than 5,000 naira in Nigeria.
- Jewellery business
Do you have less than 10K? Then you can start a little jewellery business. Jewelries come in different types and grades. The ones made with real gold and silver are actually very expensive, but you can start off with the common and less expensive ones. When your customers keep increasing, people will definitely start requesting for the more expensive ones.
2. Phone accessories business
This is also a very wise venture to invest your money. Everyone has a gadget that they need a charger, earpiece or USB cord with. This is definitely profitable business you can invest little money in.
3. Sales of ice block
One nylon of ice block costs 200 naira. If you have a good refrigerator and constant electricity, then the only investment capital you need is the money for nylon. This is a good way to make money from almost nothing.
4. Food restaurant business
The most important need on earth is water, then food. You can start your small food business with as little as possible. And as your profit increases, the quantity of your food also improves.
5. Soft drinks business
Sales of drinks is one business that you can start with very little capital if you are starting out on a small scale. Anyone can do this kind of business as long as you have a market for it.
I really hope you found this useful.