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Nairaland Forum / Nairaland / General / Business / What Business Can Someone Start With 1m To 1.5m Naira (578 Views)
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What Business Can Someone Start With 1m To 1.5m Naira by Mikechinos(m): 11:10am On Jul 22, 2021 |
Hello guys I just saved up some money for my traveling after much expenses I still have more than enough. So I'm thinking of setting up a business for my junior brother he can be doing while I travel. He's just 22. What business can someone start with 1m to 1.5m naira. I need your advice |
Re: What Business Can Someone Start With 1m To 1.5m Naira by NobleSeed(m): 11:13am On Jul 22, 2021 |
there are varieties of business you can start with that amount of money bro. Since is your brother that will be incharge ,is best you called him and make enquiries of what business he thinks he can venture into.Called him and hear from him first bro.some people here will still you to use the money to play 2 odds ![]() |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Mikechinos(m): 11:25am On Jul 22, 2021 |
NobleSeed:I asked him he said betting shop. But I don't think it's that much lucrative business considering its over saturated |
Re: What Business Can Someone Start With 1m To 1.5m Naira by NobleSeed(m): 11:29am On Jul 22, 2021 |
betting is lucrative depending on the location he is. Make sure he understand how the business is being run , is not just about the financial aspects he should look out for . Hope he himself is not into betting oh? If he is also betting my brother before 2 months he go pack up. Mikechinos: |
Re: What Business Can Someone Start With 1m To 1.5m Naira by dingbang(m): 11:44am On Jul 22, 2021 |
Nin registration. Call me for consultancy |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Stephenmoka4(m): 11:45am On Jul 22, 2021 |
I will recommend Agriculture, probably cash crops, poultry or pig. You'll need an expert on that though. Crypto, sure odds, Forex, forsage, trade etc I'll say be mindful of those. |
Re: What Business Can Someone Start With 1m To 1.5m Naira by longetivity(m): 11:51am On Jul 22, 2021 |
Ask him the type of business he will like to do |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Nobody: 12:02pm On Jul 22, 2021 |
You'll most likely be wasting your money. Entrepreneurship is a trait. It is 50% talent and 50% hardwork. When you ask for a business idea, you have already failed before the business starts. A woman who owns and runs a profitable restaurant may not be successful if she chose to import You have also failed before you started if you choose entrepreneurship because you have not secured the corporate or public service job you hoped for. It is not a coincidence that Mark Zuckerberg (Facebook Inc), Bill Gates (Microsoft), Steve Jobs (Apple Inc) all dropped out of school to create startups that would later become multinational conglomerates. From inception they wanted to be entrepreneurs. They wanted to own businesses. They were naturally never going to work under someone. That is why they didn't care to get those certificates when their parents sent them to school. It was not a permutation for them (if I get this certificate but don't get a job then I start a business). It was certainty for them even as teenagers: I am going to be an entrepreneur or nothing else. Dangote who started selling at primary school, then secondary school cannot be left out in this discourse. You don't give an entrepreneur money and hope he multiplies it without the entrepreneur asking for it. Zuckerberg, Gates , Jobs, Dangote etc will all have a business idea, start it with what they have, calculate the risk and then approach a venture capitalist or a wealthy uncle to grow the idea. Dangote's rich Uncle did not dash Dangote money out of nowhere, Dangote took a loan when he wanted to expand. Do you think a billionaire angel investor or venture capitalist could not have just stolen the ideas of Zuckerberg or even Nigeria's real estate mogul Sujimoto when they tabled their business plans without money? The investors understand money and understand that you can have money, government support at your disposal but you cannot grow a company. I started a venture with less than 10,000 naira in my fourth year in the University. Grew it to a few millions before I graduated. I have given my friend loans close to 1 million naira cumulatively (he's paid back all of them) but he does not have 10,000 naira in his account today. What I'm teaching you is what you'll pay millions to learn in Havard Business School or spend 3 years to be taught as an apprentice at Alaba International Market. 3 Likes |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Mikechinos(m): 12:11pm On Jul 22, 2021 |
ethicallyright:nice one. Really appreciate |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Nobody: 12:26pm On Jul 22, 2021 |
Mikechinos: Investing in human capital is a good thing as well. He can be a medical doctor, a pharmacist, an engineer. He can even learn high level mechanical repairs. I know someone who repairs trucks and other heavy duty vehicles. He has a nice duplex and cars . Study your brother. Can he let a girl he's always hoped to be with walk away? Would he feel pressured when all his friends buy expensive phones? When I spent 15,000 naira during the birthday of a girl I really loved, I developed high blood pressure. My BP rose to 170/80. I looked for a way to end the relationship because I realized if I spent more than that I'll literally be bleeding from my nose. My friend whom I mentioned in the previous comment lives with and feeds someone's daughter. See the difference. |
Re: What Business Can Someone Start With 1m To 1.5m Naira by Johntemmy(m): 12:32pm On Jul 22, 2021 |
Ask him first first 1 Like |
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