7 Modern Business to Start With 500k In Nigeria
There are many businesses that one can starts with 500k In Nigeria, but the questions are, are these businesses modern and profitable? Can one break even in a shorter time? What are the competitors to such a line of business?
Understanding these questions means that any business one is entering, must be modern and profitable, easy to break even, and able to compete favorably with rivals is a task one must be ready to face
Modern businesses are the smartest way of doing business, this is because it uses technology to reach a wide audience and bring the much-needed results at a shorter pace
In an economy where business is modernized using the best available technology and technical skills, things become flexible and profit enhanced.
Also, 500k in Nigeria may not be huge money to do those big businesses, but if put to good use using a modernized business, the gain could have a wider-reaching effect
Why Should Your Business Be Modern
There are many reasons your business should go modern with a budget of 500k in Nigeria,
For wider Coverage
When your business is modern and uses modern technology, the potential audience it gets will be great, compared with the old method of doing business
All businesses need wide coverage for accessibility and patronage, this can only be done using modern technology
Increase in Profit
Modernized Businesses stand a better chance of making more profit, this is because, when modern techniques and skills are used, the results outshined the old format, thus helping businesses to get the much-needed profit
Flexibility
Any Business to Start With 500k In Nigeria must be flexible, the ability to attract customers, not too engaging, and must not require 100% human support or labor
Benefits of Modern Business to Start With 500k In Nigeria
It reduces cost
The cost of doing business will be reduced, there will be much room to save money
Increases Profit
Profit will be increased since the cost is reduced
It is flexible
Human labor and support will not be 100% needed as technology does some vital aspects of the job
In no particular order, see 7 Modern Business to start with 500k In Nigeria
A modernized Saloon
With 500k In Nigeria, you can set up a modernized saloon with state-of-art facilities, this involves gadgets that can aid your work and replace manual labor or effort.
A modern Saloon should have a modern electronic supportive gadget to make work easy and faster, this will not only win customers but increases output and productivity
ICT Skills (Online Publishing)
With 500k, one can create a brand and use it to reach a large audience, thereby making a huge return on investment. Many of these platforms can easily be learned from friends and firms with little to no capital at the start
It is modern and can have a wide range of effect and suitability when exploring
Related Posts
>How to check Glo balance (Airtime And Data) 2022
>How to Locate Airtel Office in Lagos (operational and administrative office)
>Apply For FG Grant Form 2022 Disbursed Via CBN & World Bank (N2M)
>Latest MTN Cheat – Use N100 to get 4GB – See How
Modern Laundering Dry Cleaning Business
During the last 4 decades, the Dry Cleaning Business involves manual labor in Nigeria, where people uses their hands to wash clothes, but technology has made it easy and more rewording
With a budget of 500k or less for a start-up, you can set up a small Modern Laundering with washing machines. This will improve performance and increase output
Cleaning Business using Machines
Gone are the days when manual labor are used for cleaning offices and homes, there is now modern technology that can assist you in your cleaning business
There are now many cleaning machines and gadgets that can support your cleaning business, you can clean as many offices and homes with less human support or effort
Modern Fish Farming
These involve rearing fishes with modern techniques to increase yield, fish farming has changed, and there are now modernized methods that improve output
The use of Hybrids in fish farming is a game-changer in the business of rearing fish, not only is it safe, but your return on investment is absolutely certain
Pig Rearing in a Modernized Way
Pork meat is one of the fast-selling meat in some parts of the country. Rearing pork is very easy and rewarding
There are modernized ways of rearing pigs, which include using hybrids, cross-fertilization, and so on, this can triple your harvest within a shorter time with maximum return on investment
With 500k or less, setting up a pig pen and rearing pigs can be lucrative and rewarding,
Software Technicians -Analyzing Project
One very lucrative and more rewarding modern business, is the being a Software Technicians -Analyzing Project, this involves knowing how to run undergraduate research project using modern software like SPSS, E-views, and many more
Learning this software and mastering it, will give you an edge over others. There are many students in need of these services in our higher institutions of learning, with 500k, you can rent a shop, buy a computer (laptop), and install the needed software