This year, unemployment in Nigeria has surged again. Due to the pandemic, many residents have been deprived of their usual sources of income. Losing your job is a nightmare, but there are still ways to become self-employed, even with very little or no investment. I’m going to show you how you can start a company with zero capital.
These ideas can help you succeed despite the saddening turn of economic events. Discover five occupations that pay enough to cover typical expenses and make savings at the same time. You can earn money in one of the following ways.
1. Website Design
You can start a company to create websites, using free online courses to acquire web design skills. In this realm, practice makes perfect, so all you really need is a good eye and perseverance. Instead of spending hours on social media, do something that will pay off in the long term. Then, you may spread the word among your friends, place ads on social media, and gradually grow your clientele along with your portfolio.
2. Fitness Training
Being fit is trendy, so why not leverage this trend? People are still crazy about six-packs and athletic figures. Education is also accessible through the Internet. Begin by toning your own body and offer services to other people. Many Nigerians would like to train, but they have no time to visit the gym or no discipline to work out at home. With home services, you will grow your network quickly, as people will be referring you to their friends.
You can also become a fitness blogger on Instagram and make videos for YouTube. This opens up a world of opportunities in terms of advertising. First, if you have many followers, brands will reach out to you with paid promotion offers. Secondly, you may join the YouTube partner program and to get money for every thousand views. Thirdly, you may open side businesses like the production of sportswear. Overall, if you start small and work hard, there are many possible money flow directions.
3. Online Trading
This year, the popularity of trading online has soared. Skilled traders can make money wherever they are using computers or mobile devices. In 2019, Nigeria had the second-largest volume of FX trading on the continent. Now, it is poised to surpass South Africa. Education is free, and global brokers register demo accounts for risk-free practice on terminals like MetaTrader 4.
The idea of trading in the largest financial markets may sound daunting, but most instruments follow the same logic. Your goal is to buy low and sell high. All operations, from initial analysis to trading and withdrawal of funds are done online. All you need is the right software, reliable brokerage, knowledge, and a sound plan.
Entry into the live market is more affordable than ever, and you may open an account with just two thousand nairas (or $10). Forextime offers accounts denominated in the Nigerian currency, so you will save on conversion fees. Discover what is copy trading and delegate decision-making to professionals.
Start with currency pairs like USD/ZAR or EUR/USD. Subsequently, you will add more assets, which boosts profit and lowers overall risks. Beyond Forex trading, there are precious metals, stocks, and assorted derivatives. CFDs allow holders to profit from changes in different markets without owning any physical assets. There are CFDs on stocks, commodities like oil, market indices like FTSE 100, Bitcoin, and other cryptocurrencies, etc.
4. Private Tutoring
Is there a subject you know really well? Why not monetize your knowledge by teaching others? Young students and kids are not the only audiences. Adult schooling is also in demand, as there are older people who have not studied before due to a lack of time or opportunities. The third avenue is preparation for important exams like WAEC, NECO, GCE, and JAMB.
2020 has changed the education industry as distant learning is the new norm. This means you may not even need to leave your home to work. Register on tutoring platforms and conduct online webinars for groups or one-on-ones. Alternatively, you may build your own brand on social media and get clients from there.
5. Freelance Writing
The written word is still in great demand. You may become a copywriter and create marketing materials for companies, as the Internet is the main conduit for advertising today. Alternatively, you start your own blog and monetize it through Google AdSense. Finally, you can become a proofreader and check other people’s work without the need to write anything new.
Look Beyond the Familiar
Despite its rampant unemployment, Nigeria offers many opportunities for those who want to start their business. These five ideas require little or no capital, and education is free. Build your own brand, and it will help you earn money for years to come.