For N-Power beneficiaries to effectively increase their monthly earnings, in addition to the monthly stipends received from the federal government, they would need to channel their cash into something that would generate more money for them and that is why we will be sharing with you five business N-Power beneficiaries can start with N50,000.
The current state of the economy has forced many individuals to find sustenance outside the white-collar environment and into industries with reasonable entry-level requirements.
With N50,000 there are lucrative businesses that N-Power beneficiaries can start with to reduce dependency on the monthly stipends from the government and ultimately gain absolute financial independence.
Here are the top 5 businesses N-Power beneficiaries can start with N50,000.
Although now somewhat under the radar, mini importation once made waves, with many individuals yearning to learn more about how to double their monthly earnings through this channel.
With N50,000 you can find your footing in the mini importation business. All you need to do is visit the Ali Express app and buy products that you know will attract customers, at cheap prices, and make orders in bulk and sell at profitable prices when your orders drop.
There are sites with cheaper products than Ali Express and you would need to do a little more research on these sites to kick off your business.
You can get professional shirts done in bulk with as little as N50,000. You can buy fabrics at a fabrics market – there are a lot of them spread across cities, but popularly cheap in Aba – and give them to a tailor that would sew them to the taste of your target market.
There is a section at Yaba market in Lagos where clothes are sewn at cheaper prices and the fabrics purchased for even less.
Christened Hibiscus drink, zobo is a Hausa staple drink whose ingredients would not put a dent in your pocket if you decided to start a zobo drink business.
With even as low as N10,000 you can start the business and use the remaining cash for bottling and branding.
Granted you would have customers with different skin tones that would require a variety of makeup products, starting a makeup business with N50,000 is very much feasible.
And it is gender neutral. What this means is that anyone can get into the business, it doesn’t matter the sex.
Weddings, anniversaries, and other celebrations that require a makeup artist could see you raking in that cash.
However, you would need to perfect the skill and ensure that you have a wider reach so that you can get the needed attention that would have customers streaming in.
Secondhand Clothing Items
Popularly referred to as okrika. This is one business that you can start with funds as low as N50,000.
You can source for a bale and make your selections and repackage them. In fact, you could resell them on e-commerce platforms like Jumia.