10 Best Business Investment Opportunities in Cyprus for Foreigners

10 Best Business Investment Opportunities in Cyprus for Foreigners

Interested in starting a business in Cyprus? Cyprus is a crucial European business hub that provides significant advantages to foreign investors such as a thriving economy, a low tax haven and a welcoming territory for foreign investments.

Cyprus offers different types of business entities for you to choose from, where each business entity caters to different types of business activities. Foreigners who wish to operate business in Cyprus can choose between these 8 business entities, which includes:

  • Private Limited Company by shares
  • Public Limited Company by shares
  • Limited Liability Company by guarantee
  • General Partnership
  • Limited Partnership
  • International Trusts
  • Branch Office
  • Sole Proprietorship

Private Limited Company by shares, also known as a Cyprus limited liability company, is the most common and popular type of company registered by foreign investors in Cyprus. A Limited Liability Company is usually used to structure a Cyprus Holding Company. A holding company allows businesses to diversify investments across several industries according to the investors’ interests and the advantage of the company.

Before you register a business in Delaware, it is crucial to fully understand your business model before choosing the most suitable business entity. Some considerations you should take into account include the type of business activity, tax obligations as well as potential personal liability. We put together the best businesses you can start in Cyprus today.

1. Residential properties: High demand for housing

Investing in residential properties in Cyprus is a smart move, given the high demand for housing. The island's growing population, coupled with an influx of foreign buyers, has created a buoyant real estate market. Whether you're looking to purchase a holiday home, a retirement property, or a rental investment, Cyprus offers a wide range of options to suit different budgets and preferences.

Commercial properties: Opportunities in office spaces and retail

The commercial real estate sector in Cyprus presents lucrative opportunities for investors. The country's improving business environment has attracted international companies seeking office spaces, while the flourishing tourism industry has created demand for retail and leisure spaces. Investing in commercial properties can provide attractive rental yields and potential capital appreciation.

2. Tourism properties: Investing in hotels and resorts

Cyprus is renowned as a popular tourist destination, welcoming millions of visitors each year. Investing in tourism properties, such as hotels and resorts, can be a rewarding venture. With the government's commitment to further develop the tourism sector, there are numerous incentives and schemes available for investors, making it an opportune time to tap into this thriving market and cater to the growing number of tourists.

3. Tourism and hospitality: Expanding opportunities for investment

Cyprus has witnessed a steady growth in its tourism industry, with the number of visitors increasing year by year. The island's beautiful beaches, rich history and culture, and favorable climate make it an attractive destination for travelers. This growth presents opportunities for investment in various aspects of the tourism and hospitality sector, ranging from accommodation facilities to leisure activities and experiences.

Investing in hotels and resorts

The hotel and resort industry is a prime area for investment in Cyprus. With the rise in tourism, there is a growing demand for quality accommodations. Investing in hotels and resorts not only offers potential returns through room bookings but also through ancillary services like restaurants, spas, and conference facilities. Catering to the needs of both domestic and international tourists can provide a steady stream of income.

Tourist attractions and alternative accommodation investment

Apart from traditional hotel investments, there is also potential for investment in tourist attractions and alternative accommodations. Cyprus offers a wealth of attractions, such as historical sites, natural wonders, and outdoor activities. Investing in these attractions or alternative accommodation options like vacation rentals or eco-lodges can tap into niche markets and cater to the diverse preferences of travelers.

4. Web Design & Web Hosting business

Another business you can start from the comfort of your home is web design and web hosting. The web has become one of the most ingenious tools to begin a business. If you have acquired website designing and development skills, you can leverage your skills to create a customer-friendly website for businesses. 

As numerous small businesses do not have an online presence, you may wish to target this group of potential clients. By emphasising the importance of good web design for businesses, you will be able to attract clients for your business.

5. Renewable energy: Harnessing Cyprus' potential for sustainable investments

Cyprus enjoys abundant sunshine throughout the year, making it an ideal location for solar energy projects. Investing in photovoltaic systems, whether on a residential or commercial scale, can provide long-term returns while contributing to the country's sustainable energy goals. The government supports renewable energy initiatives through attractive incentives and favorable feed-in tariffs, making Cyprus an attractive destination for solar investments.

Wind energy: Capitalizing on Cyprus' windy conditions

With its exposed coastal areas, Cyprus benefits from strong wind resources, making wind energy a viable investment opportunity. Wind farms can generate clean energy, reduce carbon emissions, and create a sustainable source of income. Cyprus has already made significant strides in wind energy projects and continues to encourage further investments in this sector through supportive policies and streamlined licensing processes.

Biomass and geothermal energy: Untapped potential for investments

While Cyprus has primarily focused on solar and wind energy, there is untapped potential in biomass and geothermal energy. Investing in biomass projects, such as bioenergy production or biogas plants, can contribute to the country's renewable energy targets and provide a sustainable source of heat and electricity. Additionally, Cyprus possesses geothermal resources that can be harnessed for heating and cooling purposes, presenting investment opportunities in geothermal energy projects.

Investing in Cyprus's renewable energy sector not only aligns with global efforts to combat climate change but also offers long-term financial benefits, making it a promising avenue for sustainable investments.

6. Technology and innovation: The emerging startup ecosystem in Cyprus

If you're looking for some tech-savvy investment opportunities, Cyprus has got you covered. The startup scene in this Mediterranean island is buzzing with energy and innovation. From software development and e-commerce to fintech and biotech, there's a wide range of sectors attracting entrepreneurs and investors alike.

Investing in technology startups can be like discovering hidden gems. Cyprus offers various incubators and accelerators that provide support and resources to early-stage companies. By investing in these budding startups, you not only nurture their growth but also stand a chance to benefit from their future success.

Keep an eye on emerging sectors for tech investments in Cyprus. The island is making strides in areas like cybersecurity, blockchain, and renewable energy. With favorable government initiatives and a rich talent pool, these sectors hold immense potential for those seeking investment opportunities with a forward-thinking twist.

7. Financial services: Thriving opportunities in the Cyprus financial sector

Picture this: sun-kissed beaches and a booming financial sector. Cyprus has established itself as an international financial hub, attracting businesses and investors from around the globe. With a robust regulatory framework, favorable tax incentives, and a skilled workforce, it's no surprise that the financial services sector in Cyprus continues to thrive.

Want to dive into the financial world? Cyprus offers promising investment opportunities in its banking and insurance sectors. With a stable economy and a rapidly growing tourism industry, these sectors have a strong foundation for long-term success. Plus, with Cyprus being a member of the European Union, investors can tap into the benefits of accessing a broader market.

For those with a knack for wealth and asset management, Cyprus has got your back. The island's reputation as a reputable financial center makes it an attractive destination for investors looking to manage their wealth and assets. With a wide range of investment funds and wealth management companies, Cyprus offers plenty of options to help you grow your financial portfolio.

8. Education and research: Investing in Cyprus' knowledge economy

Investing in education and research may not sound as glamorous as the tech or financial sectors, but it's the backbone of any thriving economy. Cyprus boasts a solid education system with a focus on quality and innovation. With esteemed universities and research institutions, investing in the knowledge economy of Cyprus can yield long-term benefits for both individuals and the nation.

Consider investing in Cyprus' universities and research institutions if you want to contribute to the growth of the knowledge economy. These institutions play a vital role in fostering innovation, conducting ground-breaking research, and producing a skilled workforce. By supporting education and research, you not only invest in potential future leaders but also help drive economic progress.

Investing in vocational training and skill development is like planting the seeds for a prosperous future. Cyprus recognizes the importance of a skilled workforce and offers opportunities for investors in this area. By supporting vocational training programs and skill development initiatives, you can contribute to the growth of a highly competent workforce, which benefits individuals, businesses, and the overall economy.

9. Key considerations for successful investments in Cyprus

Investing in Cyprus can be an exciting venture with plenty of potential rewards. However, like any investment, it's crucial to consider a few key factors. Take into account the local market conditions, regulatory environment, and economic stability. Additionally, stay informed about the latest trends and sectors experiencing growth. With a little bit of research and a touch of intuition, your investment journey in Cyprus can be a sunny success.

10. Car for hire

Apart from setting up travels and tours companies, car for hire is an ideal business in Cyprus due to a high influx of tourists visiting Cyprus for tours. Additionally, it is a low-cost based investment opportunity and does not require a lot of capital to start this business. You can simply use your personal car to provide car for hire services. Therefore, car for hire services will be of a great demand among tourists, especially in tourist destinations

Cyprus company registration is hassle-free if you are familiar with the entire incorporation process. Tetra Consultants strives to provide our clients with a seamless experience when setting up a company in Cyprus. Our team of experts will ensure that your Cyprus company can be operationally ready as soon as possible
Top 10 Profitable Small Business Ideas in Netherlands

Top 10 Profitable Small Business Ideas in Netherlands

First of all, it's good to know that Netherland's is an expensive country, so the initial startup capital or the amount you intend to invest can be quite high but you don't to worry. Some businesses are better for certain markets than others. The Dutch market is very specific. The success of most businesses are subjective to the region where they are launched.

Irrespective of where you live, service-based businesses are the best types to start that require minimal or no capital. The main form of capital you need for these businesses is a skill.

1. Healthy Vending Machines

The pandemic brought health into focus for most people. Sitting at home during the extended lockdown and due to work-from-home options people into a sedentary phase. Lots of lifestyle diseases and obesity has set in for the masses. Hence now people are searching for healthy solutions and want to know how to change things around.

In countries where the quality of life is good and basic requirements are met on a regular basis now focus is on the quality of their lives.

In Netherlands people are crazy about health. Most people care about their well-being, exercising regularly, eating healthily, doing yoga and meditating. Vending Machines for healthy food is a great business idea. You can put up super foods, water with electrolytes, and healthy snacks in it. But this certainly counts for healthy investment to the tune of $30000 to start with.
  • If you are a foreigners and you would like to start your entrepreneur journey here in Netherland, you can follow these fully listed procedures to start a business in the Netherlands:
  • Register the company’s name.
  • The registration form can be completed in a few hours, but the Tax Identification Number (TIN) will take two to six weeks to be issued by the tax office.
  • Choose a legal entity where the business will operate under.
  • Reserve the trade name based on post-verification with the Trade Register.
  • Draft and prepare incorporation documents for the company.
  • File the incorporation documents with the Trade Register (this is also applied to the tax and VAT registration).
  • Register as an employer and obtain all business license according to the sector of activity.

2. Bicycle Repair

There are over 800 000 bicycles in Amsterdam itself, so definitely there is a market for bike repair. I’ve seen people doing mobile bicycle repair and that’s also a good idea. I wouldn’t start with it in the city center. I’ve been living in the suburbs and I’ve seen this old man repairing bikes every day, all day. There was always a lot of people coming to his little bike shop. He had two garages. In one of them, he was repairing bikes and in the second one, he had some bikes for sale. He was quite pricey but still, he had a lot of clients.

But launching a cycle repair facility in the city center may not be a wise decision considering the costs. It is a good idea to start off in the suburbs as it would reduce you initial investment and business could be brisk in such regions.

There are many options when it comes to bike-related domains. You could look at bike rentals, import, export, customization, sale of bicycle gear, etc. You could also offer bikes to students free of cost, and then you could place ads on them. Now these spaces for ads can be rented out to businesses for advertisement purpose.

3. Food Truck/ Catering

That’s a great idea for a beginner entrepreneur. If you cook at home you don’t need much investment. It is a profitable business opportunity because you are a chef who prepares special foods.

I was helping someone with starting a home-based catering business. I was so surprised when I called Amsterdam city hall and they informed me that you don’t need any license for that kind of business. You just need to create a HACCP food safety management system and register your company. It’s very easy to start with catering. I believe that even if you only bake cakes and you do a great Instagram profile you will get a lot of clients. The key is marketing!

In fact in Amsterdam there is even a festival dedicated to food trucks called Rollende Keukens. As your business improves you can hire a cook. This business ideas in Netherlands is profitable, but it demands dedication and hard work.

4. Sell souvenirs

The Netherlands is a touristic country. If you live in places like Amsterdam you can consider a souvenir business. Even if you don’t live in a very touristic city you can create some souvenirs and then sell it to souvenir stores. Just create a fun product, Instagram account, and a little website. 

I am sure you will find someone to buy your goods. I’ve seen also people selling souvenirs from the Netherlands on Amazon. If you know how to make some woodwork that can be a way to go. You can also make some easy Tshirts with catchy writing. When it comes to Amsterdam you can sell some cannabis-related stuff. My friend sells cannabis jelly candy. They don’t have any THC but tourists buy them as souvenirs.

You can set up an online store to sell whatever you want such as clothes, electronic gadgets, souvenirs or even services. The best advantage about this business is that location is not a constraint.

Costs for starting a business is low and all you need is a laptop, or even a second-hand computer will do. If you are running out of ideas, no worry, there are plenty of courses online. In fact you don’t even have to pay for knowledge, most information is available online.

5. Become a Coach

If you are good at anything, tennis, golf, you know sales, finances, design or any other skill, you can become a coach. People always dwell and think they don’t know enough to teach others. But the truth is that you don’t need to be the best in the world to teach others. The most important is that you know more than your client. People just need someone who will guide their growth and track their results.

Today a lot of people struggle with self-esteem, productivity. Many people want to be the best version of themselves and there is a place for a life coach. If you want to scale as a coach you should think of an online course in your field.

6. Social Media Agency

Nowadays everyone wants to be a star online. Remember it is imperative to promote your business online. Anyone with a business should look at the social media in all seriousness. It is advisable to have an Instagram account, a Facebook profile and learn how to optimize a website. You can in fact learn all this online.

But having a good knack on how to make yourself and your business visible on the social media will pay great dividends. Over and above you can learn all this online via YouTube as well. There are many videos and professional blogs to help you master the social media.

After you have learnt the basics, you could approach businesses that need help with their social media. Search local businesses online, such as restaurants, travel agencies, grocery shops, bike-shops, bookshops, etc. and begin helping few of them freely. After you have created a portfolio and learnt the basics, you can begin charging for your services.

Keep on the lookout for clients and if you are doing well you can hire someone to work for you. Your business can sale quickly as there is still a lot of space for everyone. If you look at certain websites and their social handles we would be appalled. You don’t need overtly professional, just make it better than how it is now.

7. Laundry Service

Service of Laundry, the wash guy business, which requires washing loads of cloth for clients and earning in return, is in high demand in the Netherlands. Laundromats and Laundry services are one of the few businesses that are yet to be completely snuffed out by the big boys of the industry and still is a fighting hope for the new and small business owners to live for.

The success rate for laundromats stands at 90%+ and is a great way to make money and have a successful career. However, it is important to make sure that your laundromat stands out from the rest.

“It is key to come up with innovative ideas and strategies that will help you attract customers and keep them coming back and spread good word.. I use technology to provide exceptional customer service and experience and strategies like this will help you stay ahead of the competition and ensure long-term success for your laundromat.”

8. Open Clothing Store or a Boutique

The fashion and clothing business has been recorded to have been one of the rated exporting businesses in the Netherlands. Starting a unique boutique business is a business that sells a variety of clothing for men, women, teenagers, and infants, such as belts, suits, shirts, blouses, and skirts. 

It is recommended that you establish your company in any of the cities in the Netherlands if you really have an interest in the fashion and clothing industry. Fashion designers like Iris Van Herpen and fashion brands like G-star and Gus are some of the most lucrative and flourishing fashion and clothing businesses in the Netherlands.

9. Sell Coffee

According to this research, Dutch people are the world’s biggest coffee drinkers. That’s true, coffee is everywhere and I think there is still some niche in the coffee market where you can invest. For example, you can get a big thermos and put it on your back and sell a coffee in touristic areas or during the events!

And moreover, coffee cafe is a mandatory daily drink in the Netherlands; it is hot liquids that keep the body warm and sound; it is a little business that is popular in the Netherlands and brings in a lot of money every day.

10. Buy An Existing Business

Enterprisers who want to start businesses in the Netherlands have many options, as this country is one of the most open states in Europe and the European Union when it comes to entrepreneurship. From companies in tourism, IT, research and development and green energy, the Netherlands also offers incentives to those opening companies here.

One of the most prolific business sectors which has emerged in the last few years in the Netherlands is air conditioning and plumbing, as the number of householders requesting remodeling services has increased.

Those who want to set up plumbing and air conditioning installation services companies must comply with certain regulations.

The registration of a business which offers plumbing and air conditioning installation services in the Netherlands is straight forward and does not need any special licenses.

Wrap Up

If you don’t want to start from scratch and you have some money for the investment you may consider buying an existing business. You can search for some online. There are plenty of websites selling businesses, but to be honest I wouldn’t do that. In fact, the most exciting part of the business is at it’s beginning before it becomes so bureaucratic and organized.

I hope that these ideas give you some inspiration. Now if you think that you have an idea for your business you have to work. Remember that ideas are worth nothing until you put a lot of work in it.
 Best Profitable Businesses to Start in Canada (Most Successful)

Best Profitable Businesses to Start in Canada (Most Successful)

Are you looking for business ideas in Canada with low investment? Do you want to know what the most profitable business in Canada is? Canada offers a wide range of opportunities for entrepreneurs looking to launch their small businesses from home.

With the rise of the internet and digital technologies, it has become easier than ever to turn a passion or skill into a profitable venture.

Every year, nearly 100,000 entrepreneurs launch their own small business in Canada.

According to the Government of Canada website, between 2014 and 2018, the average number of small businesses created in the country was 97,640.

There is endless opportunity in this great country to start your own business. However, just because you start a business, doesn’t mean it will succeed. The average number of small businesses that dissolve in Canada is 89,227.

So, if you’re looking to start your own company, what do you do to ensure its success?

One of the most effective strategies is to start with the right business idea.

In this article, we’ll cover everything you need to know about the best businesses to start in Canada even if you’re new to the country.

You’ll learn what the best industries are, what the most profitable businesses are, and how you can secure funding to start a business here.

With that said though, the best business that you can start is something you are good at like, a catering business, car wash business or lawn mowing. You’re going to need some capital to start your business, depending on what you choose to start. There are plenty of different ideas and options to still consider, so let’s dive in.

This big list of profitable business ideas provides a great entry point whether you are a beginner, a self-starter, or anyone with a tight timeline.

1. Catering

One of the most profitable businesses today, the catering market was predicted in late 2022 to reach $3.78 billion.

It is a low-investment business idea where your startup costs can range from $5,000 to $50,000, depending on the type of catering business.

Register your business and obtain the required permits and licences. Create a menu based on your target market and provide packages and custom requests.

Catering services in Canada earn an average of $57,174 a year.

If there’s one thing all people love—it’s food. It’s something that brings people together. And, when people are brought together for other reasons, such as a celebration, there’s always food involved.

That’s why catering is one of the best businesses you can start with a small investment. Catering isn’t only needed for birthdays and weddings. But, they’re also great for small get-togethers and parties.

If you have a passion for cooking and an attitude of serving, then this could be the perfect business for you. Plus, it can pay really well.

2. Provide HVAC Services

The Heating, Ventilation, and Air Conditioning (HVAC) industry continues to thrive as people constantly need heating, cooling, and ventilation in their homes and businesses all year through.

To start an HVAC business, check with your city or municipality for the needed permits or licences. As HVAC is regulated, technicians must be fully certified and have completed apprenticeship programs.

Experienced HVAC technicians in Canada can earn up to $85,800 a year, while the average salary is $466,360 per year or $34.03 per hour.

3. Mobile Car Wash Services

With an investment as low as $25,000, you could start your own mobile car washing business.

If you have a passion for cars, and you want the freedom and flexibility that comes from owning your own business, then a car wash business could be a great opportunity.

4. Set Up a Coffee Stand

Coffee continues to be a big business in Canada, with the hot coffee market valued at $23 billion in 2021. It is the best business in Canada for immigrants and locals who love coffee.

You can start your own coffee stand or purchase a coffee cart business for approximately $20,000.

To set up a cafe in Canada, register your business, obtain licences or permits from your city or municipality, pass inspection, and get approval.

The national average income of cafe owners in Canada is $49,785 a year.

5. Exam Coaching

Exam stress is a major issue for numerous students, resulting in anxiety and physical symptoms. Coaching services for exams can offer valuable assistance to those who are struggling.

By becoming an exam coach, you can teach effective techniques to help students manage their stress levels and improve their memory recall abilities.

Under your guidance, students can learn to use breathing exercises and other strategies to ease their nerves during exams.

Furthermore, you can assist them in developing and executing effective study plans in preparation for their exams.

6. Cleaning Business

Cleaning can be one of the most inconvenient tasks for people. In fact, so many people despise cleaning that they’re willing to pay other people to do it for them.

That’s where the opportunity is for a potential business owner.

You can start a cleaning business in a variety of niches. You could concentrate on home cleaning, office cleaning, window cleaning, or even air-duct cleaning. It’s a relatively simple service business that could easily be scaled by hiring cleaners and gaining new recurring contracts.

7. Provide Technology Repair Services

Experts predict the electronics and computer repair industry revenue to reach $1.7 billion in 2026, with technology repair companies achieving higher profits by specializing in niche services.

To enter the technology repair trade, you must obtain specific certifications, such as CompTIA A+ or Server+, which allow you to work with businesses.

The average base salary of an electronics technician in Canada is $24 per hour. In Burnaby, BC, the hourly rate is $37.53.

8. Offer Accounting Services

Accounting is a sought-after and financially rewarding career in Canada, with the Government’s Job Bank expecting strong prospects for accountants until 2028.

To start an accounting business in Canada, you can take advantage of the strong demand and promising financial rewards in this field. Register your practice, apply for an Employer Identification Number (EIN), obtain insurance, and acquire the necessary permits and licenses.

According to the Government's Job Bank, accountants are expected to have strong job prospects in Canada until 2028.

In Ontario, the average salary for a Certified Public Accountant (CPA) is $185,000, while the median salary is $130,000.

To launch an accounting business, register your practice, apply for an employer identification number (EIN), get insurance, and obtain the required permits and licenses.

What Business Can You Start With 50k in Canada?

The truth is, you need to have money to make money. This holds true for starting your own business.

And, while some businesses require hundreds of thousands of dollars—or even millions to start up, you can launch a wide variety of businesses with as little as $50,000.

Here are some of the best businesses you can start with $50k in Canada:
  • Gourmet Coffee Kiosk (Mobile Coffee) 
  • 3D Printing 
  • Dance Studio 
  • Bakery 
  • Catering 
  • Food Truck
  • Pet Related Business 
  • Editing Services 
  • Tanning Salon 
  • Fitness Boutique
  • Vending Machines 
  • CBD Business / CBD Vending
  • Cell Phone Repair
  • Co-Working Space
While these are some of the top businesses to start in Canada with only $50k, there are hundreds of others you can start with just a few thousand dollars.

If you need help funding your business venture, click here.

Work From Home Businesses and Side Hustles

If you’re looking for work from home business, or even a side hustle, with today’s technology, the sky’s the limit. With that in mind, here are some of the most popular and most popular options.
  • Freelance writing
  • Transcribing
  • Becoming a virtual assistant
  • Teaching languages
  • Narrating Audiobooks
There are plenty of other options out there as well, but these are the most popular currently.

How to Start a VTU Business and Earn a Passive income in Nigeria

Finding work can be a huge challenge these days especially if you don't have connection. One of the best ways you can raise that extra income is to start a side hustle. What better business to start than a VTU business in Nigeria? This isn’t the first time you are hearing about this.
Explaining VTU and how it works

What exactly is VTU? VTU is an acronym that stands for Virtual Top Up. Many people also know this business as Recharge and get paid. It is one of the most famous businesses among young individuals in Nigeria.

So how does this business work? It involves a dealer recharging the line of the service subscriber through the dealer’s account number. This process doesn’t require the use of a recharge card or USSD code.

Some of us have become so accustomed to VTU that we scarcely remember the existence of the “recharge card” era. In those times, if you needed to make a call or browse the internet, you had to visit a shop or outlet to buy recharge cards and load them onto your device.

VTU encompasses more than just data and airtime. Essentially, any online top-up transaction falls under the umbrella of virtual top-up. This includes recharging your cable subscription, paying your electricity bills, and even topping up your betting accounts. The possibilities are vast.

Nowadays, VTU has revolutionized the lives of the average Nigerian, making things more convenient and efficient. So, when was the last time you physically handled, purchased, or loaded a recharge card? We’d love to hear your thoughts in the comment section below.

So What Exactly is VTU Business All About?

Good, you now know what VTU is, but what then is VTU business? Nigerians are very lucrative citizens, we know how to monetize and make the most of virtually anything. From the moment VTU came to existence, Nigerians have made a solid business out of it and of course we would! Nigerians spend billions and yes you heard me, “billions” on data and airtime usage every month.

VTU business is all about selling or vending as we love to put it everything VTU has to offer. This includes but is not limited to:

• Data
• Airtime
• Recharge Card pins
• Cable Subscription
• Electricity Bills
• Exam Scratch cards (Waec, Neco, Nabteb etc)
• Bulk SMS
• Sports Betting

These are the services an average VTU vendor can render to you. Although there are lots more, nut from research and experience, I can say these are the most profitable and the most in demand.

How Do I Earn Money from VTU in Nigeria?

This is one of the most important aspects that confuses a lot of people. How exactly do i make money from the business? Well, the answer is quite simple.

You face VTU business the same way you face literally any other business, look for and buy at an affordable rate, add your desired profit, find many customers to patronize you and enjoy your profit.

For instance, let’s say you have a place or VTU website you buy MTN SME data at ₦230/gb, you can choose to add a profit of ₦100 and sell ₦330/gb to your customers. Now imagine selling just 10gb every day, that’s a neat effortless ₦1000 profit every single day. I’m sure you can do the match and check how much you’ll make if you sold 50-100gb every day. And this calculation was just for MTN data.

Just as i suggested earlier, VTU business is very lucrative and can make you a lot of money if you play your cards correctly.

There are two major ways of making money in VTU business:

• Fixed Commission Sales
• Dynamic Profit based Sales

Let me explain what they both mean. In aspects like Subscribing people’s cable TV and paying electricity bills for customers you work with commission based sales. If a user or customer wanted you to subscribe her DStv Premium for a month, you make profit by adding a fixed charge for every subscription or bill payment maybe ₦50-₦100 commission.

If DStv subscription cost is ₦21000, you can charge the customer ₦21050 or ₦21100 and make an easy profit.

Most platforms like cyber data hub offer 0.5%-2% discount on their cable subscriptions and electricity bill payments so you can even sell to your customers at flat rate and still make a profit.

Dynamic Profit Sales can be easily increased or reduced at any time based on whatever reason you have as a seller. You can add as much profit as you want when selling data bundles for all networks but don’t forget to compare prices with others so you won’t be kicked out by competition. Dynamic profit sales mostly cover data bundles where you get at a certain price and add your required profit.

Fixed profit sales covers exam pins, cable, electricity and even airtime because let’s face it, you can’t add any profit you want when selling these services, if you don’t add a small commission or sell at flat rate, no one will patronize you.

How Can I Optimize Profit in the VTU Industry?

This aspect can be a bit challenging, yet it is crucial and demands careful attention. How can you maximize your profits? Here are a few essential steps to consider:

Understand Your Competition: The number of data sellers and individuals involved in the VTU business in Nigeria is rapidly increasing. It is crucial to closely monitor your competitors and stay informed about their strategies.

Online or Offline Presence: This decision holds significant importance. Some sellers target customers online, while others focus on offline channels. Each approach has its pros and cons, and the ideal choice depends on your unique circumstances. Analyze your situation and determine whether physical sales from a shop, collecting cash, or online sales through platforms like WhatsApp, Facebook, with payments made via bank transfers would be more advantageous for you. Can you handle both simultaneously?

Avoid Mistakes and Beware of Fraudsters: There are numerous scammers who pose as VTU dealers and individuals looking to exploit your services without paying. Remain vigilant and stay alert for such fraudulent individuals. Additionally, strive to avoid costly errors like incorrect transactions or double sending.

How Can I Boost Sales and Expand My Customer Base in the VTU Business?
This phase revolves around growth. Once your business is established and sales have begun, the primary goal is to expand further. How can you achieve this and increase sales? Consider the following tips:

Maintain Communication: Never neglect your existing customer base in pursuit of acquiring new customers. Encourage your customers to save your contact information and vice versa after each transaction. Establish this practice to ensure they can easily reach out to you for future services. Occasionally send broadcast messages, extend greetings during holidays or special occasions, and request referrals from satisfied customers.

Invest in Advertising: Allocate a portion of your budget to advertising. Utilize platforms such as Facebook, blogs, and WhatsApp groups for online sellers, while physical sellers can opt for eye-catching banners and flyers. This approach serves as one of the fastest ways to attract new customers and increase sales.

Monitor the Competition: It’s important to stay informed about your competitors’ activities. Regularly compare your prices with others in the market. Avoid selling too low to the point of generating minimal profit or pricing too high that it hampers sales.

Promotions and Giveaways: Although implementing this aspect can be challenging, especially for newcomers with limited profits, consider running periodic promotions to slash prices for a few days or even a single day to attract customers. Conduct giveaways to raise awareness and expand your contact list. After all, we all know that Nigerians love a good deal.

Cheapest VTU Platform in Nigeria

For now, the cheapest VTU platform in Nigeria is Jumia. It presents you with an app known as the Jumia One app. Once you register on this platform, you can start running your VTU business. the steps below should make the process easy:

Step 1 – Go to the Jumia official website to register. If you have been looking for how to register as a VTU agent, that’s your clue. Within a few minutes, you should be done.

Step 2 – Download Jumia One to your smartphone.

Step 3 – Log in using your registration details on Jumia (from step 1).

Step 4 – Pick the service you need. There is a wide range including airtime recharge, cable TV subscription, and electricity bills. In this case, we will work with airtime recharge.

After doing these, you are ready to begin your VTU business. Now, let’s show you how to start selling.

Step 1 – Select Airtime from the options on Jumia One.

Step 2 – Choose the service provider that you want to top up.

Step 3 – Provide the phone number of the customer and enter the amount of airtime they need.

Step 4 – You’ll see a confirmation page that requires you to provide your ATM card details. This page also requires you to approve the transaction. After confirming, click/tap on “Pay Now.”

Step 5 – Provide the OTP sent to your mobile phone via SMS to affirm that you initiated the transaction.

Step 6 – The transaction is done and both you and the customer receive a notification.

Do you know that you can make between 3% and 5% of the amount you recharge depending on the amount?

After all the interesting gist about starting a VTU business in Nigeria, you must be wondering about the profitability of the idea. We already told you that you can make between 3% and 5% on each recharge.

If you sell N1000 daily and earn 3% (worst case scenario), you’ll get N30 daily. This means that in a month (30 days), you’d make up to 90% profit. Of course, you should be selling a lot more after your first week. See how profitable this business is?

The VTU business, also known as the data business, remains a lucrative and profitable venture in Nigeria. Whether utilized as a side hustle or primary source of income, it offers substantial earning potential.

How to Start a Dropshipping Business with No Money 2023

Assuming you want to start an online business like dropshipping but you don’t have any money or any ideas on how run it. A great business idea with zero capital doesn’t mean your path to entrepreneurship is over. There are plenty of ways to start a business without money. In most cases, all you need is an entrepreneurial mindset: patience, hard work, creativity, and the willingness to test new things.

You may already have some knowledge about dropshipping. It can be a lucrative undertaking, but how much do you really need to get started? The answer? As low as $0. To start making money you can later reinvest into growth.

From validating your idea to making your first dollar, here’s the blueprint to starting a business with no money.

Even though you have to spend money on products to send to the customer before they get delivered to the buyers and you actually get paid out from most marketplaces

What is Dropshipping

Dropshipping is a type of business model in which the seller, also known as the dropshipper, doesn't maintain any inventory of the products he sells. Instead, upon receiving an order, the dropshipper sends the order details to a third party supplier who then directly ships the product to the customer.

The seller earns by marking up the wholesale price of the goods purchased from the supplier.

Dropshipping is a popular business model for entrepreneurs looking to start a small business with no money. Simply create an online store and choose a dropshipping supplier like DSers or AliExpress. When an order is made, your ecommerce platform will forward the order information to your supplier. It’s their job to pick, pack, and ship the order to your customer.

The best part about dropshipping is that you can get started with a tiny budget. Instead of buying inventory before it’s sold, and storing those goods in an expensive warehouse, vendors will only charge you for inventory when you sell it.

I highly recommend the amazon store card, the Walmart store card, & the eBay store card. All of these give 5% cashback on ALL purchases on their website. And they’re all great reliable suppliers to use for dropshipping too.

The reason using credit cards is so effective is because

You don’t need any up front cash to scale this business like we just covered

More importantly, you can use cashback credit cards on lots of suppliers where you can earn up to 5% cashback (for purchases you already have to make any way). This is how I’m able to get thousands of $1,000+ in free cashback most months simply from using cashback credit cards on purchases I would have had to make for this business anyway.

Find a Niche

Find a niche that you’re interested in. Although with dropshipping, the risks are low and let you experiment with different products within different niches without breaking the bank. For example, Amazon has a wide variety of niche categories you can sell in.

Find a Product Within Your Niche. Find a product that sells using a tool like Jungle Scout. If it sells any more than $25,000 per month the product is too competitive.

Find Suppliers. Find a good supplier on Alibaba (you can use Jungle Scout's Supplier database to find out exactly what supplier your competitors are using).

You can also find wholesale suppliers for online stores outside of Alibaba. Here are some Alibaba alternatives.

Choose a Platform to Sell On. There are many free ecommerce platforms to choose from and most of them offer a range of free plans or trials that allow sellers to test and explore the platform before deciding whether it's suitable for their needs.

Two of the most popular platforms for dropshipping with no money are Shopify and WooCommerce.

Shopify offers a free trial period for users to try out and familiarize themselves with the store before they begin selling, while WooCommerce can be downloaded and used for free. For a more detailed comparison of these two platforms, you can check this article: Shopify vs. Woocommerce: Which Platform Is Right for You?

Amazon Dropshipping. Amazon dropshipping is essentially the same as your classic dropshipping model, except that you sell the products on Amazon’s marketplace, instead of selling them exclusively on a standalone ecommerce store.

Many dropshippers choose Amazon as a selling platform due to the vast number of potential customers and the built-in visibility that comes with the site's enormous market share. Additionally, Amazon can be integrated as a sales channel with your self-hosted e-commerce site or Shopify store.

Create Your Store and Promote It. Once you've chosen your products and the platform where you want to start your dropshipping business, you'll need to set up your store.

How Dropshipping Saves You Money and Time. If you're cautious, dropshipping can actually be a very safe and reliable business model.

Dropshipping offers multiple benefits for businesses, including reducing upfront investment and the burden of shipping, cutting costs on warehouse space, saving time, and lowering risk.

There is no need to purchase products upfront and sellers can enter the market with a low barrier and avoid the risk of purchasing too much stock.

Dropshipping is a time-saving business model that frees up more time for sellers to focus on marketing, driving traffic to their channels and building customer support.

Can You Lose Money With Dropshipping

Dropshipping is a business model that poses very low risks of losing money, given its little to no upfront costs. The only real expense is the website's cost, but you can choose from various pocket-friendly options like WooCommerce or Shopify.

Nevertheless, there are still ways to lose money with a dropshipping business, such as

  • Unprofitable advertising campaigns
  • High rates of returned merchandise
  • Selling products with a high risk of fraud
  • Tips for a Successful Dropshipping Business with No Money
  • Maintain a Strong Branding

Many dropshipping sellers opt to source products from AliExpress and list them on eCommerce platforms like eBay or Amazon. However, the challenge lies in the fact that there could be numerous other sellers offering the same product.

Therefore, it's essential to make every effort to distinguish yourself from these sellers.

Build Relationships with Customers. Providing customer service is a cost-free task that requires only your time. While dropshippers with greater financial resources may have the edge in various aspects of the business, customer service is one area where you can compete.

Although you may be selling the same merchandise as other dropshippers, customers will return if they feel valued and appreciated when shopping from your online store.

Build Effective Copy for Your Sites. Copywriting is essential to drive sales when customers land on your website or listing, but content writing plays a crucial role in attracting them there in the first place.

By utilizing content, you can improve your search engine rankings and gain traction. When individuals search for a particular query, your pages will appear as results, prompting them to click and land on your website. This strategy is known as content marketing via search engine optimization.
30 Best small business ideas you can start with less than 10K

30 Best small business ideas you can start with less than 10K

Planning to start your business but not sure where to begin? Statistics show that 5.4 million SMBs filed for formation in 2023 alone. However, starting your business requires setting a budget before you can start minting money.  

If you've also dreamed about starting your own business but are turned off by potentially high start-up costs, check out this list of the top businesses to start with $10K or less in the bank. I spoke to lots of people who've been successful with these business types, so you'll get some inside tips along the way.

Corporate Insurance Broker

Insurance brokers and insurance agents aren’t the same thing. Brokers tend to be licensed while agents often aren’t, and brokers can usually work with a wider range of insurance companies than agents can. Brokers generally can take on a higher level of risk, also, with the authority to analyze and make decisions about a potential client’s worthiness for insurance.

Going the broker route will give you more freedom to offer a variety of insurance products for various types of businesses. You’ll need that license though, so save some time and money to earn it. Once you’re licensed, you can take your services to local businesses with a considerable amount of credibility.

The key to finding prospects will be to network heavily. The local chamber of commerce, local business and trade associations of almost any kind, even online business meetups or local events such as fairs and school sporting events—they’re all opportunities to get your name out in the community.

You might also have to do some cold calling or visiting local business to prospect for business. It won’t be easy, and you might experience more initial success if you already have a lot of friends in the community where you live. But the reward could be very much worth it. This is a business that is hard to get started in, but once you get going you can build terrific momentum and profits as you build your clientele.


Dropshipping is easily one of the easiest businesses to start as a small business. Its starting cost is around $1000 with a 10% to 40% profit margin depending on how you run it. You can earn up to $1M annually with this business model. With the increasing popularity of dropshipping, the industry has expanded quickly.

Tutoring Services

Students require help with their subjects all year long; it’s one of the most stable businesses and hardly requires an investment. Yes, you do have to gain experience and expertise in the subjects of your choice for them. Freelancing platforms like Upwork can also help you get started faster.

3D printing

A 3D printing business involves charging clients a set rate for access to printing or designing and printing your own products to sell. To start this business, you'll first need to purchase a 3D printer, which will cost approximately $1,000 to $6,000 based on the model chosen. 

To get started:
  • Purchase a 3D printer and needed materials
  • Determine if you'll create your own products or rent out your printer
  • Determine your pricing structure per object or per rental period 
Real Estate Agent

Becoming a real estate agent is relatively costly, as its starting cost lies between $5,000 and $10,000 on average, with a median income of $49,000. It would help if you also had licensing and certifications and fulfilled the requirements needed.

Hauling Business

The startup cost of trucks and trailers ranges between $5,000 and $10,000, and you can increase your fleet with time. Professionals in this business earn around $15-50 per hour, along with other expenses. You can also help eliminate unwanted junk and clean the area.

Digital Marketing Consultant

A laptop and an internet connection are all you need to get started with this profession. You will easily make $24k to $60k per client with a 10% to 40% profit margin. It depends on the quality of services, as well as the affordability with which you can maintain the business operations.

Tour Guide

If you become a walking tour guide, it will cost you as little as $2,000. If you want to make it more special, you can always use a vehicle that costs around $10,000. The best part is, you can charge up to $360 per person during the tours. Recovering your initial investment will not be a problem in this case.

Green Business Consultant

The startup cost for this business varies for regions but is under $10,000, with a commission potential of $1M/year. However, you have to gather knowledge about the following: 
  • The available technology
  • Green-minded contractors for installations
  • Conservation methods
  • Calculating return on investment
Personal Trainer

If you are a fitness enthusiast, becoming a personal trainer can be your most viable option. You may need to spend $5,000 monthly for most businesses and earn up to $96,000/year. You’ll help people achieve their fitness goals while earning a substantial amount for yourself.

Window Cleaning Services

Most of the essentials for window cleaning services are available in your home, and are also readily available and affordable. You can make anywhere between $50,000 and $75,000 per month, going up to $1M/year. It’s a great spin on classic housekeeping services and can help you get more payments.

Online Business Manager

As an online business manager or consultant, you need the following things to start: Management experience
Internet A laptop

There are some certifications to prove your skills, but you can constantly update them over time. You can help CEOs achieve tremendous industry success too!

Fashion Designer

The median income for fashion designers is around $65,000, but you can always get more if you have the skills and reputation. You will need sewing machines, fabrics, and measuring tape. Later, you can work your way up and grow as a business.

Local Delivery Service

As a local delivery service, the primary costs of businesses include the licensing and vehicle expenses/ This business has an estimated 32.6% CAGR 2021-2027. This allows small business owners to earn up to $1,200/week with services like UberEats.

There’s a profit margin of $1-8 on every delivery after paying your drivers. This kind of business may take slightly longer to take off, but it will be worth the effort in the end.

YouTube Content Creator

Starting a YouTube channel as a content creator is free. You may have to handle some startup equipment costs, but you can start with what you have. There’s a $.10 to $.30 margin on every video view. You can also make $3 to $5 per 1,000 views on your channel, depending on your location or region.

Search Engine Optimization (SEO)

You can start working in SEO with free tools and gradually work your way up. The top-rated industry professionals earn up to $150,000/year, making it a great small business idea. You can use different tools for the task, including: 
  • Keyword research
  • Improving site speed
  • Google My Business
  • Content marketing
Freelance Writer

As a writer, you can start for less than $100 and earn up to $150/hr if you have the skills and experience required. You can also sign up as a copywriter and provide various services to industries. Tools like Surfer SEO can help you optimize your content and start your writing business.

Rental Service for Equipment

The startup cost for the equipment rental service is around $15,000 (without heavy machinery). In this business, you can enjoy an average gross profit margin of 30% to 40%. The rental equipment business is popular in various industries, such as Home medical equipment rentals
Construction tool rentals
Cars, boats, and other rentals

Brick and Mortar Restaurant

A brick-and-mortar restaurant is one of the few businesses you can start for $10,000. These businesses may have various requirements, including health district inspections, insurance requirements, etc. Nonetheless, it’s a profitable SMB to get started with.

Starting a Food Truck

To start a food truck, you need around $10,000 and make your setup $1M per food truck. There’s also a $20,000 to $50,000 profit margin from these food trucks. It’s ideal if you like feeding people and want money.

Import/Export Business

Have you seen something while traveling abroad that you’ve loved and you thought maybe people back home would buy? Bring it home and sell it with an import/export business. (Or, take something you love here and send it abroad for the “export” part.)

In the Internet era setting up an import/export business is relatively simple. Pick what it is you want to import or export—one product, or at least one category of product—and stick with it. Get going with a website and a blog about the product you’re trying to sell. Learn everything you can about that product.

It gets a little trickier from here. You’ll need to determine where you want to sell your product, whether you’re importing one to sell here or exporting one to sell elsewhere. If you’re importing, you’ll need to find a supplier for the product. After you have a supplier, you’ll need a company that can ship your product back and forth, including a company that can clear customs for you. Once you have a sense of your costs, you can determine a price for whatever it is you’re selling.

I would first recommend that you try to wholesale your product to retailers online or offline and focus your business model on importing and sourcing. But you might want to try your hand at selling directly online too. In either case I would create an awesome looking website, with a lot of thought given to search engine optimization.

This is a business idea that will take some time to plan and execute. If you can get it up and running successfully, it can be a pathway not only to profits but also to excitement and getting to know fascinating people around the world. One of my friends started a business while still in college, importing goods from local artisans in Latin America into the US market. He grew the business to the point where he was using the entire available cargo capacity on some airline flights.

Become an Ice Cream Man

Everyone recognizes the ice cream man on the corner of the street. You can start this business for $10,000. However, it would help if you remember your target audience is kids, there’s a seasonal fluctuation at times, and all you need is a freezer on wheels.

Meal Prep Company

The starting cost of license and inspection is the most significant consideration for small business owners. There’s a $20 to $50/hour profit margin you can consider. You can create a menu and market it to your potential audience.
10 Best Cryptocurrencies To Invest In 2023 [UPDATED LIST]

10 Best Cryptocurrencies To Invest In 2023 [UPDATED LIST]

Cryptocurrency is digital money that isn’t managed by a central system like a government. Instead, it’s based on blockchain technology, with Bitcoin being the most popular one. As digital money continues to gain traction on Wall Street, more and more options become available. There are currently more than 5,000 cryptocurrencies on the market.

While you can use cryptocurrency to make purchases, most people treat it as a long-term investment. However, investing in cryptocurrency can be risky if you don’t know where to begin. With our comprehensive guide, you'll have all the information you need to make informed investment decisions and stay ahead of the game in the fast-paced world of cryptocurrency. Don't miss out on this opportunity to secure your financial future - invest in the top 10 cryptocurrencies of 2023 today!

Several centralized banks and institutional investors are also exploring the domain of digital assets to harness profit from their highs and offer secure crypto transaction platforms to their consumers. Despite the volatility, a number of cryptocurrency investors are on the hunt for the next big cryptocurrency or the next Bitcoin competitor. 

Rating the Top Cryptocurrency Choices

Run a quick online search and you’ll find dozens of recommendations for how to invest in cryptocurrency. In choosing the top 10 picks, the following factors were considered.


How long has the cryptocurrency been around? New cryptocurrencies aren’t immediately ruled out, but having historical data for comparison helps you see how a company has performed up until now.

Track Record

How has the company performed during its years in business? If you see stability in prices, that’s a good sign. If you notice that the cryptocurrency is gaining traction and becoming more valuable with time, that’s even better.

Good To Know

Past performance is not indicative of future performance. At any time things can change, and an investment may perform better or worse than it has in the past.

How does the platform compare to others in terms of usability and security? The first thing you want to look for is the speed at which transactions occur. The network should be able to handle transaction traffic with ease.

You also want to make sure your investment is secure. Most cryptocurrencies use blockchain technology, making all transactions transparent and easy to track. Blockchain technology doesn’t necessarily make it harder for hackers to steal your cryptocurrency. It does make it easier to track your investment so it can be recovered instead of being lost following fraud.

Adoption Rate

How many people are investing in the cryptocurrency you’re considering? When you see a high level of adoption, that means the cryptocurrency has better liquidity. Trading, selling or spending will be easier in the future.

Top 10 Cryptocurrency Investments in 2023

Cryptocurrency Price as of March 29, 2021 Market Cap Bitcoin $57,566.38 $1.075 trillion Ethereum $1,811.82 $209.464 billion Binance Coin $273.38 $42.304 billion Tether $0.99 $40.632 billion Cardano $1.19 $38.188 billion Polkadot $33.74 $31.349 billion Ripple $0.56 $24.598 billion Litecoin $192.88 $13.038 billion Chainlink $28.06 $11.689 billion Stellar $0.41 $9.23 billion

1. Bitcoin (BTC)

Bitcoin has been around for the longest of any cryptocurrency. It’s easy to see why it’s the leader, with a price, market cap and volume that’s much higher than any other investment options. Even with thousands of other cryptocurrencies on the market, Bitcoin still represents 40% of the cryptocurrency market cap.

Many businesses already accept Bitcoin as payment, which makes this cryptocurrency a smart investment. Visa transacts with Bitcoin, and Tesla CEO Elon Musk recently invested $1.5 billion in it. Plus, the larger banks are beginning to incorporate Bitcoin transactions into their offerings, too.

Risks of Investing in Bitcoin

The value of Bitcoin tends to fluctuate a lot. You may see the price go up or down thousands of dollars during any month. If wild fluctuations like these make you nervous, you may want to avoid Bitcoin. Otherwise, as long as you keep in mind that cryptocurrency is a smart long-term investment, these fluctuations shouldn’t be too concerning.

Another reason to reconsider investing in Bitcoin is its price. With a single share costing more than $50,000, most people can’t afford to buy whole shares of the stock. For investors who want to avoid buying partial shares, this is a negative.

2. Ethereum (ETH)

Ethereum is different from Bitcoin because it isn’t only a cryptocurrency. It’s also a network that allows developers to create their own cryptocurrency utilizing the Ethereum network. While Ethereum is far behind Bitcoin in value, it’s also far ahead of the other competitors.

Even though it came out years after some other cryptocurrencies, it has far exceeded its place in the market because of its unique technology.

Risks of Investing in Ethereum

While Ethereum utilizes blockchain technology, it only has one “lane” for conducting transactions. This can lead to transactions taking longer to process when the network is overloaded.

A hack in 2016 led to more than $60 million Ether dollars lost because of a flaw in the Ethereum wallet. While the company has made strides in increasing its security, loopholes are always a risk with any cryptocurrency investment.

3. Binance Coin

Binance is one of the few cryptocurrencies to reach its peak after 2017. During that year, there was a bull market and the price of all cryptocurrencies rose on it, reaching a peak before plateauing and decreasing in value.

Unlike other cryptocurrencies, Binance Coin continued a slow but consistent trend upward after 2017. Because of its performance, Binance Coin has proven to be one of the more stable investment options, posing fewer risks.

Risks of Investing in Binance Coin

What sets Binance Coin apart from its competitors is that it was created by a company instead of a group of tech developers. Although Binance Coin’s commitment to maintaining a strong blockchain has won over many skeptics, some investors remain leery of this cryptocurrency and its potential security issues.

4. Tether (USDT)

Tether is the most stable of all cryptocurrencies because it is tied to the U.S. dollar. For each unit of Tether, there is one dollar in the Federal Reserve Bank. This makes Tether great for investors who want to transact with their cryptocurrency .

Risks of Investing in Tether

Investors have raised questions over the actual reserve stock. There are doubts that there is truly a U.S. dollar in the reserve bank for each Tether unit. If this were ever disproven, the value of Tether’s stock could drop quickly.

5. Cardano

The Cardano network has a smaller footprint, which is appealing to investors for several reasons. It takes less energy to complete a transaction with Cardano than with a larger network like Bitcoin. This means transactions are faster and cheaper.

It claims to be more adaptable and more secure. Cardano consistently improves its development to stay ahead of hackers.

Risks of Investing in Cardano

Even with a better network, Cardano may not be able to compete with larger cryptocurrencies. Fewer adopters mean fewer developers. This isn’t appealing to most investors who want to see a high adoption rate. The platform has big plans, but there are doubts about whether it can live up to that potential.


Don’t be discouraged by fluctuations in the market. Your investment may lose money one day and make a profit the next. Instead of getting caught up in the day-to-day changes, look at the big picture.

6. Polkadot (DOT)

Polkadot was created by Ethereum leaders who broke away to form their own cryptocurrency with a better network. Instead of having a single “lane” to complete transactions in, Polkadot has several.

This cryptocurrency was designed to reward genuine investors and weed out people who are just trading on the stock market to make money fast. Investors who are engaged in the company also help to make decisions on things like:

Network fees
  • Network upgrades
  • Establishing or removing parachains
  • Risks of Investing in Polkadot
Polkadot’s founder, Gavin Wood, first introduced the cryptocurrency via a whitepaper in 2016. At the end of 2020, Polkadot began trading on the stock market. With such a short history, Polkadot doesn’t have a track record for comparison, making it a riskier investment for potential buyers.

7. Ripple (XRP)

Ripple is the company that unveiled the XRP token and is enticing to investors because it sets itself apart from other cryptocurrencies by offering international transactions. With a bank, international money transfers can take up to 10 business days. With Ripple, the same transactions take mere seconds.

Plus, Ripple has contracts with big banks around the world. The more contracts it has, the more accessible the Ripple cryptocurrency is to adopters.
Risks of Investing in Ripple

Ripple showed promise in 2017 when its value jumped 36,000%. However, when you look at the fact that the percentage represented growing to a $2.40 stock value, it’s less impressive. As you’re researching cryptocurrencies, don’t be distracted by high percentages. Get down to the real numbers and see what the growth really means.

8. Litecoin

Originally established in 2011, Litecoin hit the market at the same time as Bitcoin. However, it didn’t take off in the same way. Litecoin boasts completing transactions four times faster than Bitcoin.

In 2017, it was the first cryptocurrency to complete a Lightning Network transaction. The transfer was completed in less than one second. If the company expands its use of Lightning Network for faster transactions, Litecoin’s value could increase dramatically.

Risks of Investing in Litecoin

Since Litecoin and other cryptocurrencies are tied closely to Bitcoin, their value will generally fluctuate along with Bitcoin. This means the value will go up and down just as Bitcoin does, although at a lesser rate. If you consider Bitcoin’s volatility a negative, Litecoin may not be a good choice for you.

9. Chainlink

Chainlink is unique as a cryptocurrency because it has an appealing price. While the shares are affordable to buy, they’re also priced high enough to not be considered penny stocks. This is appealing to investors because it has proven it can increase in value, and there is still a lot of room for growth.

It’s also available for trading on Coinbase, one of the world’s largest cryptocurrency apps. Being more accessible also makes Chainlink appealing to investors.

Risks of Investing in Chainlink

While it’s still above thousands of other cryptocurrencies, it has a lower volume and market cap than more appealing cryptocurrencies. That’s why Chainlink ranks so low on the top 10 list.

10. Stellar (XLM)

Stellar’s Lumens, also known as XLM, was established to serve a niche need within the world of cryptocurrency. It’s essentially the PayPal of cryptocurrency networks, serving as a bridge between banks and blockchain networks.

As a decentralized network, Stellar can convert any currency and trade it across channels. It makes these transactions cheaper and faster than they would be with a traditional bank.

Risks of Investing in Stellar (XLM)

Because Stellar (XLM) caters to a niche market, it will likely see other companies try to compete against it. If another cryptocurrency network creates a better platform and takes traffic from Stellar, it could affect the company’s stock value.


Don’t settle on any number of cryptocurrency investments without continuing to learn about the market. A new cryptocurrency network could easily climb the ranks and emerge as a leader above other platforms. As an investor, the smartest thing you can do is to stay abreast of market happenings.

Final Take

There’s no question about it: Cryptocurrencies are here to stay. The question becomes, where is the best place to invest your money in the market?

As you decide which cryptocurrency is the best investment for you, here are some other things to keep in mind:
  • The speed at which transactions are completed
  • The fees associated with transacting
  • The ability to use your cryptocurrency for regular purchases and bank transfers
If you’re strictly looking to invest without transacting within the network, remember that cryptocurrency isn’t a get-rich-quick scheme. Instead, you should consider it a long-term investment.

Although you may be interested in investing in cryptocurrency and the prospects of the NFTs and Metaverse, proceed with caution. This is because many market analysts believe that this new business would be dominated by a small number of competitors.

If you’re looking for the finest cryptocurrencies with a huge market capitalization to acquire right now, there are a few of the greatest crypto exchanges in the field where you may do so.

If you are looking for some of the best cryptocurrency courses, then Blockchain Council is the right spot for you. Blockchain Council offers some of the best certification courses in cryptocurrency, Blockchain as well as other related domains. These courses are designed according to industry standards and are available at an affordable price. So, search out the course that best meets your expectations.
Top 13 Small Business Startup Ideas in Nigeria 2023

Top 13 Small Business Startup Ideas in Nigeria 2023

Apart from curbing unemployment, starting a business could lead to financial freedom. But starting is always a challenge. Many Nigerians have little or no capital to start a business. Worse still, they have no idea of a lucrative business to start.

If you have saved 100k or thereabout, and you are looking for the best profitable business idea in 2023, then you’ll find many options in this article.

1. Snail Farming

The first untapped business in Nigeria on this list is snail farming. This business is a relatively new agribusiness that makes a lot of money. Snails are easy to breed, as it requires little investment since their feed can be sourced locally.

The cool thing about this business is that Nigerian (Giant Africa) snails are in high demand in the global market. That means snails can be sold within Nigeria or exported abroad where they can be sold at higher prices.

Although it may take time for snails to reach the stage of consumption, the profit from this business is massive. A medium size snail could cost anything from 700 Naira and above in most parts of the country.

2. Mini Importation/Exportation

Mini importation is one of the most profitable new business ideas in Nigeria that can be started right from home. Just like dropshipping, it involves buying products from suppliers. However, instead of shipping the products to the buyer, you’ll have them shipped to you here in Nigeria and sell them offline or online.

With mini importation, you can buy products for extremely cheap prices from China, have them shipped to Nigeria and sell them for a good profit. This business is very profitable as you can buy a pair of shoes for N1000 from China and sell it for N3000 Naira in Nigeria.

With the current war going on between Russia and Ukraine, the price of importation and exportation just went up the roof with people finding it very difficult accessing things from their various native lands.

You may think there isn’t much to export in Nigeria, but you would be wrong. Shipping materials are one of Africa’s most profitable foreign trades.

Exporting raw goods to other nations, such as cocoa, green vegetables, vegetable oil, yam, cassava, palm oil, or crude oil, is sure to make you wealthy. These commodities are in high demand outside the country.

3. Palm oil retailing business

If you would not see this business as dirty, it is indeed one of the best businesses to start in Nigeria with 100k.

Palm oil has always been one of the most valuable food items in all Nigerian homes.

Unknown to many, this business is one of the most profitable in Nigeria today.

You can make a 400% profit from selling stored palm oil when it’s in season. But you need to be able to buy when it is in supply and know the exact time to resell.

“I started this business close to 16 years ago. When I started it, I discovered, it was a very good business, it was better than all the businesses I had tried my hands on earlier. In good seasons, you can make 3 times the price or more. It is the business that I used to sponsor three of my children in the higher institution”.

What you need to start this business

Your hundred thousand naira or more to purchase your first 3-5 25-littles bottles of palm oil. The more money you are able to invest, the better.

You need to know some households or a small market where you can sell your palm oil once it time to sell.

Alertness and knowledge as to when it is the right time to buy and resell.

4. Catering services

You can start your low-cost catering services with your kitchen cooking equipment. You only have to spend little money on the few things you might need that you do not have. Offer your services to events, meetings, individuals, birthdays, and other several occasions, which can be done as cook and delivery services.

So you can see you don’t need a physical space to start. In the beginning, try out with friends and families; as your business expands, you can increase your offers and buy more cooking equipment like food trucks, delivery bikes, or commercial kitchens.

5.Cleaning services

If you used to clean apartments or offices for a daily wage and are good at it, why wouldn’t you start your own business? All you need is staff to work for you or with you and cleaning products. Thus, you can offer cleaning services for office spaces, houses, and apartments. This service doesn’t come cheap these days.

Many homes and businesses will need your services, so you can start alone, and as your business grows, you can employ people to assist you with a heavy workload.

Here are a few cleaning tools you might need to kickstart

1. Sponge

2. Microfibre cloths

3. Cleaning detergent

4. Bucket

5. Mop, dustpan, and broom

6. Spray bottle

7. Scrub brush

6. Pharmaceutical wholesales business

Next to feeding, people care about their health. People of all ages need to take one medication or the other at certain times.

This makes the pharmaceutical business one of the most lucrative businesses in Nigeria in 2023.

The most profitable aspect of the pharmaceutical business manufacturing. But considering that starting that line requires millions of money, you can play at the level where you supply to pharmacies and patient medicine store.

There are some fast-moving drugs like antimalarial drugs, painkillers, antibiotics, etc. These are very good pharmaceutical items to start with.

The profit margin could sometimes double, depending on how well you are able to get good prices from distributors or manufacturers.

What you need to start a Pharmaceutical supply business

Your N00k capital or more
Ability to look for pharmaceutical stores and market them effective to become one of their suppliers
Little knowledge of the business terrain and fastest-moving pharmaceutical brands/products.

6. POS business

This is another guaranteed good business you can invest with your 100k in Nigeria right now.

Mobile banking makes life easier for millions of Nigeria who find it uneasy to use physical banks due to the stress associated with it.

If you get your location right, you can make up to 10,000 naira in profit in day without incurring any expenses.

For example, you can make up to 200 naira on a 10,000 withdrawal. Some even withdraw far more with the mobile money.

Now imagine that you make 50 of such transactions of N200 in a day, that’s 10k per day which is 300,000k per month.

That’s by far more than what an average 9-5 employer earns in Nigeria.

What you need to start this businessTo start a POS business, you will need to go to any bank of your choice and request POS, and they will tell you the requirement. Then, with as little as N30,000, you can begin your POS business.
You need to register with a mobile money company in order to get your terminal (POS machine). You need to provide basic information about you such as your email address, ID card, phone number, etc. to register.

What you need to start POS business in Nigeria:You’ll pay a certain cost for the terminal, usually around 30k or less.
You will need to set up a location. A residential area or market is preferable. Make sure a bank is not near your location.
Get a small wooden kiosk or an umbrella and pay for rent for the space if it’s not yours. Your rent should not be more than 5k-10k a month max.

7. Perfume oil business

One of the cheap business ideas to start in Nigeria is perfume business. With as little as N5000, you can start a perfume business. Buy in small quantities from wholesalers and resell to customers. Do proper research about the products you will be getting since someone else is producing them. Do market research to ensure that your potential customers will be interested in the products or fragrances.

Consider dealing with a reliable supplier who will supply the best perfumes to you at the best price.

8. Interior Décor

Millions of houses are built in Nigeria every year that would need to be decorated. Apartments get rented out and tenants have to beautify their spaces.

This makes interior décor a business of all seasons and one of the best businesses to start with 100k in Nigeria.

Although some people start with as much as a million naira or more, but you can start on a very small scale with your 100k or more.

You can rent a small space with that amount and look for a distributor or manufacturer who can give you some products while you pay them once you are able to make sales. Better still, save up to 300k and get some good cash-me-down.

What you need for this business

Knowledge of the trade
Your capital
A small space to display goods and potential customer base

9. Event planning

Every day in Nigeria, people always have one event or the other, especially during the weekends and festive periods. Therefore, starting an event planning business will make lots of money. Event planning business is another unsaturated and untapped business in Nigeria. This business involves finding people who have events, then helping them plan it by suggesting and finding the best location, mc, rental service, etc.

You need to have a passion for organizing and coordinating events to offer your services to businesses and individuals for events such as weddings, birthday parties, and corporate events. Since it’s a low-cost business idea, start by planning small events for your friends and family.

And as your business grows, you can invest in equipment such as tents, tables, and chairs. But for now, stick with rental services. You can become an event planner at no cost, as all you need is to know in-depth what event planners do, and offer the service. There are lots of professional event planners who you can learn from before getting started.

Untapped businesses could make you a lot of money in Nigeria, as there are usually businesses with high demands. If you looking to start one, I believe this post has enlightened you more by providing 25 of the best ones you can venture into in Nigeria.

As always, if there is anything I didn’t touch on in this post, feel free to let me know in the comment session.