What can I start with small or zero capital?

By Tijjani Ahmad, FCA

Many complain about lack of capital as the major barrier to their dream venture. This is not always true. It is just an excuse. While capital is an essential factor, it is not the only factor. Because it is relative, you will find out the complainer is referring to financial capital in the form of large amounts of capital when you ask further.

In business, many things can give you the advantage that capital “alone” can’t give. But if you have them, they can jointly stimulate your journey more than capital.

Skills: Ensure you have the know-how of any venture you are interested in. The know-how will make you be considered an expert, and people want to see expertise in whatever they want to relate with. For example, if you are interested in carpentry or the fashion industry, here is how you can start:

Know the theoretical skill: There are thousands of free courses, videos, and tips for beginners. All you need is the smartphone you use to read this. If you consistently commit 2 hours to attend the right courses and watch YouTube videos for a month or two, you will master the trade.

Learn the practical skill: You can learn this through apprenticeship. It will take time, but it will surely pay. Just prepare yourself and be ready to learn. Many people are there looking for people like you who are ready to learn. 

With basic skills earned through courses and commitment to your apprenticeship, what is between you and becoming your own boss is tools and the right attitude. 

Tools: Own the tools. I know some will ask how I can get the tools without capital. Here are the ways:

Your skills will land you your first work; with this first work, your first tools are secured. And then your second job and second tools, and the cycle will continue. 

Two years ago, I had a plumbing problem. I reached out to a plumbers shop in our neighbourhood. Unfortunately, the boss wasn’t around, but his apprentices were. I asked one of them to come and fix my tap; it could be done in less than 15 minutes. But he said I should wait for his boss. He went for another work with the tools.

To my surprise, the cost of the tools needed to come and fix my tap was not more than N2,000, and his fee was not less than N1,000. Meaning two works like mine will earn him his first tools.

Attitude: “A strong positive attitude will create more miracles than any wonder drug.” —Patricia Neal.

Attitude influences your action, response to challenges, incentives, and rewards. Attitude is not just about being positive or negative but also about being adaptable and willing to learn and grow. It will shape how you relate with yourself, your trainers, partners and customers.

Therefore, depending on your passion, expertise, location and resources available. Here are some of the businesses you can start with zero or negligible capital:

1. Farming and animal rearing 

2. Content creation, copywriting, coaching and vlogging

3. Consultancy service and remote jobs

4. Cleaning and laundry services 

5. Gardening and landscaping 

6. Event planning and management 

7. Sports centre facilitation 

8. Mini processing, packaging, printing services, 

9. Web design and development, marketing, commission agent 

10. Fashion design, makeup art

I wish you all the best.