Latest Online Businesses to Start Under N5,000

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Did you know that according to research, In 2018, Nigeria had 92.3 million internet users? Its two years down the line and internet users in Nigeria have increased! The online market is heavily saturated and now more than ever, especially with the emergence of the COVID’19 Virus, many businesses have moved from just having physical locations, to building an online community.

Are you a business owner and want to start an online business and don’t know which? You probably have heard of how much money your friends and colleagues are making having started their online business and want to know how to go about it. Starting online has lesser risks than having a physical location. You also have the opportunity to get your product or service out to millions of potential customers while you spend so little on costs! Exciting right?

Here are some of the latest online businesses you can start with as little or less than 5000 naira! Let’s jump right in!

Content Writing

It is no surprise that this is number one on the list of the latest online businesses to start. With the rise of online marketing by SMEs in Nigeria, content writers are in high demand. If you love to write, you can start on websites like Upwork and Fiverr and build your portfolio or write and get paid per article. You can also build your own website with your writing on display for potential customers.

Copywriting

This is a skill-based business on the rise in Nigeria. Copywriting involves writing for advertising or marketing. Many SMEs in Nigeria, need copywriters to help boost increase click-through rates on their websites, lead generation, and ultimately sales. You can start a copywriting business, help businesses advertise their products or services, and help increase sales.

Blogging

This is also one of the latest online businesses in Nigeria that you can start with less than 5000 naira. If you have heard of Linda Ikeji, then you will understand how profitable this business can be. You can start blogging about topics that you have a good knowledge and passion for and start driving traffic to your site. Once you are approved by Google, you can start earning monthly. As your website continues to grow, your income continues to grow as well!

 Proofreading

If you have an eye for noticing little errors, this is another skill-based business you can start! You can offer proofreading services to online publishing companies and make money.

Social Media Consulting

This is a very popular business venture in 2020! Many SMEs in Nigeria are building online communities especially on social media and they need the expertise of a social media expert to help them navigate through the online world and ultimately help them achieve their business objectives. You can help businesses craft strategies and manage their social media accounts.

Online Business Consultant

You can offer consultancy services to online businesses, keeping them up to date on the latest development within their industries. 

Online Tutorials

Now more than ever, there is a need to learn new skills to catch up with the ever-evolving world. Are you an expert in any field? You can take advantage of such skills and start online tutorials to help those in need of such a skill. You can conduct masterclasses on Youtube or Whatsapp and make money.

Vlogging Business

Have you noticed the rise in video content online? People now prefer to watch short videos than read long content online. Businesses have also turned to Video Ads rather than TV commercials. You can start making video content with value and offer them to businesses who need them and make money.

SEO Expert

One important goal of any SME in Nigeria is to gain visibility. Any business owner wants to gain visibility in order to attract the kind of customers they want. Any business will pay to make sure their business ranks online. All you need for this business is the skill. Get the skills and step out to the online space.

Virtual Assistant

This is one of the latest online businesses today. This is a business similar to a personal assistant, though in this case, it is online-based. If you are good at organizing and can efficiently carry out tasks, then this business could be for you. Many online platforms offer this kind of job opportunity. Such platforms include Zirtual,Upwork and PeoplePerHour.

Graphic Designer

Do you have an eye for designing? This is another business opportunity you can take advantage of. All you need is your laptop and a design tool like Canva or Photoshop and the skills of course. If you have the skills, you can design for different businesses and brands and make a lot of profit.

Resume Writing Service

This is also a brilliant business venture to go into. People want to secure their dream job and need the perfect resume to get them noticed. You can start writing Resumes for job seekers and get paid. You could also design resume templates and put them up for sale online.

Affiliate Marketing

This is another business you can start with less than 5000 naira. All you need is a website. Affiliate marketing involves advertising other people’s products and earning an agreed commission on products sold.

 FOREX Trading

This is one hot business right now. People are making millions in different currencies. You will need to have a deep understanding of what FOREX trading is all about in order to get it right. Once you understand it, you can make lots of money online.

Web Design

Web designers are very much in demand today as businesses are setting up an online community through their websites. All you need to start this business is the skills. You can learn coding/programming, put yourself out there, help businesses set up their websites, and get paid for it.

Online businesses are taking over. There are thousands of opportunities in the online space that you can take advantage of on the online space with little or no cost at all! The power of social media on your business cannot be overemphasized. Check out our article on 10 ways social media can help your business!

Do you have questions or suggestions? Drop them in the comment section below!

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