Wealth Care

5 Best Jobs to Get Rich

2020-09-07T00:17:00.003-07:00

These jobs can help you get to a six-figure salary quickly. However, keep in mind that these fields are competitive. Additionally, some of them require extensive schooling.

Six-figure incomes can often mean six figures in student loans. While these may be the best jobs to make top bank, some also require getting a graduate degree. Make sure you weigh the pros and cons of each before deciding on what career to pursue.

1. Investment Banker

If you’re looking for one of the best jobs to get rich, becoming an investment banker is at the top.

It’s by no means easy money, though. Investment banking hours are notoriously long. And while getting an entry-level analyst position requires a bachelor’s degree, many investment bankers pursue graduate degrees. Most finish an MBA program but some get other graduate degrees such as a law degree.

You’ll have better success at getting a high-paying investment banking position if you attend a top-tier school.

What do investment bankers do? Often, they help companies raise capital. They review an organization’s financial health, capital needs, and goals, and recommend the best strategy to achieve them.

2. Physician

If you’re good at science and enjoy helping people, becoming a doctor is a good career option. Salaries vary depending on specialization. However, even on the lower end, you’ll end up with a six-figure income.

The more specialized you are as a physician, the higher your compensation. For example, a heart surgeon will make significantly more than a general practitioner, though they’ll also have to go through more extensive schooling. According to Salary.com, the average compensation for a surgeon is $394,658, while cardiologists make an average of $394,900.

To become a doctor, you’ll need to complete a four-year college degree, then take the Medical College Admission Test (MCAT) and apply for medical schools. Going to medical school takes four years and admission is highly competitive.

After medical school, the minimum residency is three years to become a general practitioner. Specializations such as surgery or cardiology can tack on several more years.

All of this schooling can get very expensive, but you can pay some of your own way. Here are some of the best jobs for making money in college.

3. Orthodontists

If you’re good with both kids and adults, consider becoming an orthodontist. , putting it at the number three position in the best jobs to get rich. How much you make as an orthodontist greatly depends on where you live geographically.

To become an orthodontist, you first must complete a four-year college degree. Some dental schools accept undergraduates without a bachelor’s degree if they’ve studied in a pre-dental program for at least two years.

Once you’ve graduated from college, you must take the Dental Admission Test (DAT). From there, you’ll need to apply to accredited dental schools and complete a four-year program.

After dental school, an aspiring orthodontist must complete an orthodontics specialty program, which typically takes two years. Some orthodontists also complete a master’s degree program or a doctoral dentistry program in orthodontics.

Before you can begin practicing as an orthodontist, you must pass state licensing exams. This will give you the right to practice as an orthodontist in that particular state.

As an orthodontist, you’ll examine, diagnose and treat misaligned teeth. In addition, you’ll treat health-related orthodontic issues such as misaligned jaws, facial abnormalities, overbites, underbites, open bites and crossbites.

4. Dentist

If you don’t want to go through the additional schooling to become an orthodontist, you can still make six figures as a dentist.

Becoming a dentist requires a bachelor’s degree in addition to specialty training. As noted previously, some dental schools accept undergraduates without a four-year degree if they’ve studied in a pre-dental program for at least two years.

To get accepted to dental school, you’ll need to take and pass the DAT. Dental school programs take four years to complete. Just like orthodontists, dentists must be licensed in the state in which they work. This often requires passing written and practical exams.

As a dentist, you’ll diagnose and treat problems with patients’ teeth, gums and other related parts of the mouth. In addition, you’ll counsel patients on how to take care of their teeth and gums.

5. Engineer

One of the best fields to get rich with just a four-year college degree is engineering. Becoming a doctor or orthodontist requires extensive schooling before you can reap the benefits of a six-figure salary.

And even many investment bankers have master’s degrees. Most engineering jobs, on the other hand, only require a bachelor’s degree.

However, not all engineering specialties pay the same.

Petroleum engineers focus on figuring out the best methods for extracting oil and gas from deposits below the earth’s surface. They also focus on how to maximize oil and gas production from older wells.

Tony Robbins shares 5 ways to get rich faster

2020-09-06T23:48:00.002-07:00

It doesn't take financial wizardry or a winning lottery ticket to increase your net worth. A few smart moves could instantly make you richer.

In his new book, "Money: Master The Game," Tony Robbins shares five core strategies for achieving your financial goals faster.

Any one of them will put more cash on your personal balance sheet, but if you tackle several at once, "you'll be unstoppable," he says.

1. Save more and invest the difference.

Saving is not exactly sexy, but it's a highly effective strategy for growing your net worth. If you find a way to put more money aside and invest it smartly for compound growth, Robbins says you'll dramatically speed up your financial goals.

For those who feel they just can't squeeze any more out of their paychecks, he says it isn't as hard as it seems if you get creative.

For example, by making early principal payments on a traditional 30-year fixed-rate mortgage, you could pay off your home in half the time and spend almost 50% less.

2. Earn more and invest the difference.

One of the fastest ways to have more money is to make more. Robbins says the key to increasing your income is to become more valuable. Ask yourself: Are you in a company, location, and occupation where your skills are in demand? Does your compensation reflect the value you're providing, and is it time to ask for a raise or up your rates? Are there ways you can make additional income outside of your day job? If you commit to earning more, you will find a way, he says.

3. Reduce your fees and taxes, and invest the difference.

"It's not what you earn that matters, it's what you keep," Robbins says. Investing in high-cost mutual funds vs. low-cost index funds that mimic the performance of the entire stock market can cost you thousands of dollars over decades. He also notes that the average American spends more than half of their income on taxes (income tax, property tax, sales tax, etc.) in their lifetime.

Finding ways to reduce your investing fees and taxes will instantly put more money back in your pocket. One idea: Relocate to one of the seven states in the US — Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming — that doesn't have a state income tax.

4. Get better returns.

Amazon What's the difference between a 10% return and a 4% return? Robbins asks. A 10% return doubles your investment every 7.2 years, while a 4% return doubles every 18 years.

While many people think the secret to getting big returns is taking big risks, Robbins says highly successful investors look for asymmetric risk-reward, meaning big upside potential with little downside.

For instance, hedge-fund billionaire Paul Tudor Jones always looks for opportunities where if he risks $1, he thinks he can make $5.

5. Change your lifestyle.

You could make a big lifestyle change and move to a less expensive city or country (think Bali, Fiji, Costa Rica) today, says Robbins. Why wait for retirement? There are smaller lifestyle changes that could help you hold onto your cash, too.

Consider downsizing your house or car, cooking more at home, or getting creative with your budget.

"It's all about being more efficient and more effective with your earnings and your savings," Robbins says. "At the end of the day, the best investment you can make is the one you make in yourself and your lifestyle."

How to Make Money on TikTok

2020-09-06T23:39:00.000-07:00

6 Ways to Make Money on TikTok

#1: Growing accounts and selling them

The first way people are making money from Tik Tok is growing accounts and then selling them.

This is becoming more and more popular in the eCommerce or product space.

Similar to Instagram, you’re going to choose a niche and then go ahead and create entertaining content, ideally content that goes viral to attract that person who would be the ideal customer for your product.

There are already people in this space today who are growing TikTok profiles around a certain interest. Usually it’s a niche topic and they might not have anything to sell, but they’re going to reach out to brands in that industry and sell their TikTok profile to them and people are legit making money this way.

The good news for product brands is once they have that account in their hands, it’s actually fairly easy to sell products.

One way that people are selling products is through TikTok Live. They are launching products while livestreaming or they’re actually holding auctions while live streaming.

And, of course, there is the link in the bio where you can always drive your followers to purchase your product.

So if you’re the type of person to love TikTok, and you just want to grow a following around a certain topic and build that community around a certain topic, go for it and then reach out to those brands who would love to have access to those followers and sell them your account.

#2: Donations

The second way people are making money from TikTok is going Live and collecting donations from viewers (just like you can do on other platforms, like Twitch).

I find this feature of TikTok fascinating.

It’s really a built in monetization platform, literally from day one.

From what I’ve seen, here’s how it works:

When you’re a TikTok user, you can go into your profile and purchase something called coins.

For a hundred coins it will cost you $1.39.

Now what do you do with these coins?

When one of your favorite creators is going Live, you can actually send them coins as a way of giving thanks for all of their effort in creating the content they do.

What does the creator do with this coin?

The creator turns the coins into diamonds and those diamonds can be converted into cash via PayPal.

Cool, right?

On the Chinese version of TikTok – an app called Douyin – there is a next-level feature similar to this. When creators are Live, they can actually attach a shopping cart to a product they sell. So it’s kinda like QVC or the shopping channel. You can go Live, hold an auction, and people can buy your product while you’re Live through the shopping cart feature.

My guess is this feature is going to come to accounts worldwide sooner rather than later.

#3: Manage influencer campaigns

The third way to make money from TikTok is to manage influencer campaigns.

This isn’t a new idea. There are straight up influencer agencies to serve Instagram influencers already.

The same concept applies to TikTok. You can be the middleman or the broker between a creator on TikTok and a brand who wants to work with that influencer.

From creating the agreement, managing both parties, making sure the deliverables are all met – just being a coordinator – you can charge a service fee to manage campaigns like that.

TikTok as a platform is smart; they actually have an internal influencer program already built in. So if I’m a big brand and I want to reach out to TikTok and say, Hey, this is the space I’m in, what influencers should I work with? I can do that.

The only thing is, I’m going to pay a percentage to TikTok for brokering that agreement.

That’s where you can come in as a service or agency to make that agreement outside of TikTok and help brands save a little bit of money.

#4: Tiktok ads platform

The fourth way you can make money from TikTok is by using their ads platform.

Just like Facebook and Instagram ads, you can Google right now, “TikTok ads” and sign up for access to their ads platform.

It is pretty self-explanatory if you’ve ever run paid traffic before, so if your market’s on TikTok, it might be worth you creating a few ads, putting some budget toward experimenting there and seeing what happens.

Maybe you can sell more of your products through TikTok!

#5: Management services

The fifth way you can make money from TikTok is by offering management services for creators on the app.

Some creators on TikTok have millions of followers and sometimes this happens really fast and overnight for that creator. It’s like having a business land in their lap.

You could step in and offer services to help them with their content strategy, their creative strategy, maybe managing offers and deals that come their way.

So if you have that background in production or storytelling, you could definitely apply that to offering management services to TikTok creators.

#6: Consulting

Last but not least, once you become a pro on TikTok, and maybe you really understand how someone could take a video that maybe gets a hundred views and help them get 100,000 views, well, you can simply offer consulting services.

This is a really great way to leverage your expertise from the platform and help people who want to be TikTok famous or they want to be creators, actually boost their strategy so their videos get seen by hundreds of thousands, if not millions of people.

Of course, you need to have the background and the experience in this first to offer this as a service. But once you’re there, people will pay to have your experience and your brain on their account.

And if you help them get any deals or influencer agreements, you can even negotiate a percentage or a cut of that deal simply because you are their consultant and you have helped them go viral on TikTok.

So there you have it. Six ways that I see people making money from TikTok today, even while it’s still really, really early on.

Let’s go back to my first point at the beginning of this video.

Why do I, an Instagram marketer, think that TikTok might be more powerful than Instagram?

The way I see it, Instagram stories are kind of similar to TikTok videos, but they expire after 24 hours. This is where TikTok is powerful. TikTok is actually similar to YouTube, meaning you can publish a video today, but maybe the algorithm picks it up months later and starts pushing that video into the feed of people who would like it.

The fact that your videos don’t disappear has a lot of power to it because it can drive a lot of traffic and eyeballs to you months after the fact.

That reason alone is why people are getting sometimes millions of views to their TikTok videos with very few followers. It’s because the algorithm is picking up your video, and pushing it out.

Again, there’s a lot of interest and not a lot of content. So the algorithm is pushing it out to the people who it thinks are going to be receptive to that content. And – hello – waking up to millions of views with very few followers.

I mean, in today’s day and age, I don’t think there’s any other app or platform that can give you those kinds of results right now.

17 Business Ideas In The Nigerian Beauty Sector

2020-09-06T23:28:00.002-07:00

Beauty has to do with a combination of qualities such as shape, form, a colour that please the sight. Now, knowing that any business will thrive as long as people have their needs/wants satisfied through it; there are many businesses related to beauty which when delved into will bring results.

This article is focused on this subject and below are a number of business ideas under this sector.

1. Wig making and selling

The truth is wigs are really important to the majority of women irrespective of their age because it is a way out of frequent hair appointments and it’s easy to wear. Also, a nice wig is suitable for various events. Therefore, having a business of your own where you turn weaves into wigs and then sell is definitely going to thrive.

2. Makeup artist business

Every now and then, people have events to go to and most times, need help with beauty enhancement. There is hardly a time where people don’t have weddings, birthday celebrations, anniversaries of all sorts to attend and a makeup artist is always a necessity for most people. Venturing into such business if you have the skill is profitable.

3. Manicure and Pedicure services

This is a business that is useful to both genders. Our nails (finger and toe) are part of our appearance and so grooming them periodically is very important. Hence, it is a beauty business that can be run in Nigeria and won’t fail.

4. Hair dressing business

This is very important to both men and women because the hair needs dressing periodically to keep up a beautiful and neat appearance. This business can be focused on barbing men’s hair or plaiting women’s hair. Nowadays, having a saloon is not a necessity as long as you do a good job, get referrals and do good publicity.

5. Skin care product business

This particular business is thriving so much today because people are really ready to spend to make their skin look beautiful. Therefore, if you are a skincare product seller, you will definitely not run out of business as long as the products you sell work and bring the desired results.

6. Fitness center

Having a fitness center such as a gymnasium is a very good business to go into because bodily exercise not only is profitable for the health but in the long run leaves people looking attractive and fit. They have to do monthly, weekly or daily registrations to use your facility. It is capital intensive as most of the equipment required is expensive but bears good fruit eventually. This business is location-sensitive, so if you are considering going into this line of business you should look out for the perfect location before starting out.

7. Blogging

If you are good at writing and also very knowledgeable on beauty tips, then you can start expressing such expertise on a blog. Trust me, once you put out consistent relatable and profitable information about beauty care and navigate your way through to gain traffic to your blog so people can read it, then you will make much money from the comfort of your home.

8. Anti-aging business

The fact is no one no matter how old they are would like it to be seen through wrinkles on their skin. Therefore, people who are advanced in age would not mind getting skincare products to battle wrinkles and every other aging effect on their skin. Hence, going into a business that supplies these products is a lucrative idea.

9. Cosmetic marketing

If you are good at marketing, then you can venture into being a cosmetic retailer. Various kinds of cosmetics are available nowadays. So anyone you choose to deal with is good and profitable business.

10. Homemade beauty care products:

This involves making natural or herbal cosmetic products with the use of only natural or herbal ingredients. Such a business gives you more time to work from home and to build your own products.

11. Training centers

If you are skilled in any beauty care activity such as makeup, homemade beauty products or hairdressing, then you can organize a program where you train others who want to learn and then you get paid for your knowledge on the topic.

12. Hair removal services

This is a good beauty business idea because people of both genders love that the only place they have hair on is their head. So, hairs on other parts of the body are removed to improve their appearance

13. Massage services

Massages are very useful to the body in that they revitalize body cells which improve a person’s overall appearance. Hence, if you think it’s something you can pull off, then it’s a good business idea.

14. Spa business

Although, getting this established would require considerably high funds, however, it is highly profitable in the long run because a spa service not only relaxes the body but also nourishes it. See more

15. Beauty consultant

The good part of this business is that you can either do it online or physically. You basically have to be highly knowledgeable in beauty care to thrive in the business.

16. Jewelry sale

The truth remains that jewellery is a great beauty enhancer and many times, women and even men keep acquiring more and more of it to suit various purposes. Therefore, if you are a good marketer and have some quality jewellery, the business will be profitable for you.

17. Weight loss center

Sizes are definitely about 70% of appearances and so having a weight loss center where people who have problems with their weight can come to and get it resolved is definitely a good business idea. To start this you need a very proper business plan.

Going into this industry is a very lucrative idea considering how self-conscious both men and women have become now. People are more interested in keeping fit, health and always looking good. Pick a business in this sector today and see how profitable it can be. You would be dealing with people on a very personal level so you need to also see our article 5 Tips to help you provide great customer service as a business owner

10 Daily Income Businesses in Nigeria

2020-09-06T23:09:00.000-07:00

The business landscape is vibrant and full of life, and the Nigerian market is no doubt saturated with lucrative opportunities that you can take full advantage of. Do you know there are business opportunities in Nigeria that can bring you profitable daily income? These businesses have the capacity to generate millions in revenue. Whether you are a 9-5 worker or a business owner, having a business that brings you daily income is nothing but liberating. Below are 10 daily income businesses in Nigeria that you can start up right away.

1. Catering Business

This business is lucrative because people would always need food. If you are passionate about cooking, then you need not waste any more time. Turn that passion into a daily income business that can bring you financial freedom. From weddings to birthdays to events, the list is endless. There is a huge market out there waiting to buy from you. It is important to build a strong relationship with your customers and also provide good customer service.

2. Baking Business

This is another lucrative daily income business. Pastries, snacks, cakes and others are in high demand in Nigeria. All you need are baking tools, equipment and you can start selling from the comfort of your home. You can bake cakes and pastries for parties and events and make lots of income on the go. You can leverage the power of social media to promote and sell your product.

3. Transport Business

The ever increasing population of Lagos state and Nigeria at large makes transportation a major need for the average Nigerian. You can start transporting people to various destinations. All you need is a car and registration and you can start making daily income.

4. Dry Cleaning Business

This is a business you can start right from your home. All you need is a washing machine and iron. This type of business is profitable in well populated areas. It is important to keep your service delivery high to attract more clients to your business.

5. Car Wash Business

Major cities like Lagos is a great business environment for car wash businesses to thrive. You can solve this problem by setting up a car wash that can bring you more daily income than you expect.

6. Hair Styling Business

There is no doubt that you will be going home with enough cash daily. If you are skilled at hairstyling, then this is a business you can start and scale over time. All you need is a store and the required tools. If you can’t get a store, you can start right from your home. You can also leverage the power of social media to gain visibility and attract customers.

7. Freelance Writing

The demand for writers has never been as high as it is now. Can you win the hearts of people through writing? If that’s a yes then this is a daily income business you can venture into. You can make income daily from writing articles and creating content for various brands and businesses.

8. Haulage Business

As a result of the pandemic, the transportation of goods and services has become a task that every company or business must tackle. You can start carrying out haulage services and earn income daily.

9. Online tutorials

There is increased demand for online education, now more than ever. You can start online tutorials on any subject that you are great at and get paid handsomely for it. You can hold classes on social media platforms like WhatsApp or Facebook or you can choose to upload some courses on platforms like Udemy.

10. Money Merchant

This business involves being a middle man to help customers perform monetary transactions through platforms like Paga. This will definitely bring you lots of daily income if you are positioned right.

The market is large and there are lots of business opportunities in Nigeria lurking around yet to be unexplored. You can start up a business today that will grow and scale into becoming one of the largest businesses in Nigeria. Don’t be afraid to take that first step! You can check out our article on the latest online businesses you can start under 5000 naira.

I'm not allowed to have a boyfriend or get married

2020-09-06T22:23:00.000-07:00

The regent of Iboropa-Akoko in Akoko Northeast area of Ondo state, Tinuade Babalola has revealed one of the things are position deprives her of.

During a question and answer session on her Instagram story, a follower asked if she is allowed to have a boyfriend or get married while on the throne, and she replied saying she is not allowed to have a boyfriends as her positions demands that she remains celibate all through.

"No I'm not allowed to have a boyfriend because my position demands that i be celibate throughout my reign as a regent." She said.

Tinuade was made a regent in 2015, shortly after Oba Emmanuel Ayowole Adejuyigbe, her father, passed on. She had to go through some traditional rites of passage before she was pronounced a regent.

Face mask killed a man in Ogun state

2020-09-06T22:15:00.005-07:00

A 50-year-old man, Solomon Ede aka Baba Rita, is dead after his lifeless body was found face down with his face mask, in Alako, Abeokuta, Ogun State.

According to the Nation, the deceased was always in the habit of wearing his face mask in order to protect himself against the Covid-19 but accidentally slept with it on Friday, August 28, 2020 after getting drunk.

A resident identified simply as Olamilekan disclosed that the deceased had rebuffed those who pleaded with him to retire to bed when he was discovered to be drunk.

On hearing the news, his wife was said to have passed out but was whisked away by sympathizers. His body has since been deposited at the mortuary of the State General Hospital at Ijaiye, Abeokuta

5 ways to invest money in Nigeria

2020-09-05T23:34:00.003-07:00

At the peak of the Mavrodi Mundial Moneybox (MMM) Ponzi scheme that crashed in December 2016, many Nigerians had caught the bug of quick, large returns on investment of up to 50 percent. Millions of Nigerians got their fingers burnt when the Ponzi scheme suddenly closed shop.

However, there are other reliable investment vehicles, which not promising outrageously high returns outperform Ponzi schemes in terms of consistency. This article was inspired by Ola Brown, founder of Flying Doctors.

Nigerian Stock Exchange

The Nigerian Stock Exchange is a place to consider when searching for where to put some money. Make stocks part of your portfolio.

A stock is a unit of the share of a company that is traded on the floor of the Nigerian Stock Exchange (NSE). It is also often referred to as a share. Every company has shares which the owners lay claim to. When you go to register a company at the Corporate Affairs Commission (CAC) you typically say your authorised share capital is N1m made up of 1m ordinary shares of N1 each.

This means your initial capital at the start of your company is N1million represented by those shares. Whilst the value of your capital may increase over time, your shares remain the same till you decide to increase it again and register the same with the CAC. When the shares are listed on the floor of the NSE they are tradable as stocks meaning people can buy or sell them.

Divide your investments into long term investments and speculative investments when trading on the NSE.

The better you are at understanding a company’s annual report, market conditions and growth trajectory; the better you will be at trading.

Treasury Bills

Treasury Bills are short-term debt instruments issued by the Federal Government through the Central Bank to provide short term funding for the government. They are by nature, the most liquid money market securities and are backed by the guarantee of the Federal Government.

They are usually issued for tenors of 91 days, 182 days and 364 days at the primary market auction held fortnightly by the Central Bank of Nigeria. The interest rate (stop rate) at the auction is not fixed but fluctuates based on demand and amount offered by the apex bank.

You do not pay tax on treasury bills and yield is normally higher when compared to fixed deposit. But they are harder to get rid of than fixed deposit if you need the money back before the maturity period.

Fixed Deposits

A fixed deposit is a type of short-term financial investment sold by banks to its depositors. A depositor invests in a fixed deposit when he deposits his money with a bank in exchange for interest for a predetermined period.

Fixed deposits can often be for one month, three months, six months and one year. In return for fixing your money with the bank for a fixed period, the interest paid on fixed deposits is always higher than the interest that the bank pays on a regular deposit. Fixed deposits can be done in naira or dollars, unlike treasury bills.

Fixed deposits are also available from your bank. Make sure you shop around as rates can differ drastically from one bank to another.

Minimum investment the amount for FD and T-bills is usually about N50K to N500K depending on where you are buying from.

Eurobonds

Eurobonds are dollar-denominated longer-term investments with maturity periods of about five years. Interest rates are generally higher than fixed deposits offered by the banks.

Money market funds

A Money Market Fund (MMF) is an open-ended fund that provides financial help and a steady stream of income by investing in high quality, short term Money Market Instruments. These include bankers’ acceptances, certificates of deposits, commercial papers, and collateralised repurchase agreements. You can also invest in government securities. These include Treasury bills.

Developing a habit of saving and investing is important. If you do not earn much and you can barely pay your bills, the idea of saving money might seem laughable. But everyone has to start somewhere! If you work hard at saving, your financial situation is likely to improve over time.

Top 7 Mobile Loan Apps For Online Lending In Nigeria

2020-09-05T23:31:00.000-07:00

Most often, many individuals and business owners might need some extra-cash to in handling some financial issues around them. In times like this when all means of getting money has been exhausted, the best alternative is to consider getting a quick and easily affordable loan online.

The process of accessing quick loans in Nigerian banks is quite lengthy and tedious for any individual that is only looking to access a small amount of loan for only a short period of time.

Thanks to the Fintech revolution in Nigeria, online lending startups are making it easy for businesses and individuals to have access to quick loans when needs. Here is a list of top 7 mobile apps for online busines and personal loans in Nigeria.

1. Paylater

Paylater is an easy-to-use and entirely online lending platform that provides short-term loans to individuals and small businesses in Nigeria to help cover unexpected expenses or urgent cash needs.

With Paylater, you can access up to 500,000 Naira loan with no collateral. Once your application is approved, funds are typically received within 1 – 3 business days. Making on-time repayments can grant you access to higher credit limits for your next loan.

Download the Paylater App to get quick and flexible loans at affordable rates.

2. Palmcredit

PalmCredit is a virtual credit card that makes it easy for you to access a loan anytime and anywhere. Palmcredit offers loans of up to ₦100,000 within minutes on your mobile phone.

With PalmCredit getting a mobile loan is simple. Apply for your credit limit in minutes, then take as many instant loans as you need without further approval steps. It’s a credit revolution!
As soon as you repay, your credit score is updated. Repay on time and watch your limit grow to N100,000.

Download the Palmcredit App to get instant and flexible loans at affordable rates.

3. Branch

Branch is a simple yet powerful mobile loan app in Nigeria and Kenya. Getting quick and instant loans on Branch App is so fast and easy. It will help you sort out your financial issues in real time.

Branch offers loans from ₦1,500 to ₦150,000. Loan terms range from 4 – 64 weeks. Interest ranges from 14% – 28% with an equivalent monthly interest of 1% – 21%, depending on selected loan option.

Download Branch App for access to quick and instant loans.

4. QuickCheck

QuickCheck is a modern lending platform for individuals and small businesses. QuickCheck uses mobile technology to enable individuals and small businesses to gain access to financial credit.

According to the platform, users can access quick and hassle-free loans of up to 30,000 Naira without any collateral for a duration of either 15 or 30 days.

You can get the QuickCheck App on Google Playstore.

5. Aella Credit

Aella Credit is building platforms that make it easier for individuals in Africa to gain access to financing. Mainly focused on employee lending and empowerment, the company was affiliated with three main credit bureau agencies in Nigeria to provide quick and affordable loans with no paperwork to its customers.

Aella Credit uses a proprietary credit scoring algorithm to determine the creditworthiness of its users. The algorithm, which was built after the team gathered over five years of market data and analysis, processes an applicant’s eligibility for a loan by considering social and demographic factors as well as their debt to income ratio.

Download Aella Credit App now to get started.

6. FairMoney

FairMoney offers short-term loans to help cover for urgent needs, bills, business and much more. They give access to loans at any time and anywhere with our loan application within 5 minutes.

FairMoney packages include personal loan, education loan, business loan & more. With the effective use of technology, they are able to provide a speedy and efficient loan app to all our esteemed customers.

7. KiaKia

KiaKia is a mobile web app that gives you access to personal and small business loans and also enables savers to lend out funds at negotiated interests through intuitive conversations.

KiaKia utilizes psychometry, big-data, machine learning and digital forensics for its proprietary credit scoring and credit risk assessment algorithm to provide direct and peered personal and business loans to millions of individuals and SMEs without credit information.

Click here to visit Kiakia mobile web app.

Conclusion.

While most of these platforms claim to offer quick loans without any collateral, it is advisable to carefully study their Terms & Conditions (T&C) before throwing in an application.

Another factor to consider is the interest rate and payback period. As a business, you will not want to go in for loans with a very short payback period except you very sure you will earn back the money in no-time.

20 Businesses You Can Start With 50,000 Naira In Nigeria

2020-09-05T11:05:00.001-07:00

It’s 2020 and the world is evolving at top speed. The world is becoming digitally globalized and the system is saturated with groundbreaking business opportunities. Nigeria is not left out as men and women are making history in the business world today. You’re reading this article and you want to start a business. Maybe you just want to generate some passive income, something that keeps “body and soul together” or maybe you are just fed up with going to work every single day and you want to become your boss or you are an entrepreneur and starting and scaling your business is your dream and the path to your most self-actualized state. Whatever the case, YES YOU CAN!

Research has it that the best time to start a business is in times of economic crisis and financial meltdown. This is because startups swing into the economy with passion, innovation, and a problem-solving mindset. In America, startup businesses are America’s greatest employers. These businesses started and became big businesses that we know today like Apple, Facebook, Google, and many others alike. Your business can become one of the biggest businesses in Nigeria today.

Think you need so much to start? Well, let me walk you through 20 fantastic businesses you can start with just 50,000 Naira in Nigeria today. Let’s dive in!

1. Baking Business

Baking is a thriving business in Nigeria. Cakes and pastries are things Nigerians can never get enough of. Every party from weddings to birthdays and graduations needs cakes or small chops. You can start this baking business right from your kitchen. You could start by making little cupcakes and small chops and sell to earn income. To gain visibility, you can then promote your baking business on your social media, get people to order, and start making the big bucks.

2. Fast food Business

The importance of food can never be overemphasized. You can use your cooking skills to make good money. All you need is a little stand, cooking materials, and foodstuffs. You can start by finding a very strategic location and start making foods like spaghetti and turkey. You could also go ahead to specialize in making and delivering food to parties and events. You can use your social media to promote your business, put pictures of your food, and explain clearly what you do to reach a wider audience.

3. Plantain Chips Business

This is also a very lucrative business. Plantain chips are a very popular snack in Nigeria. You can make them, brand them, and supply to different shops or supermarkets and earn income daily.

4. Selling Drinks and Water

This is another lucrative business because it is a highly consumable good. All you need is a little stand, a cooler, some iced block and your drinks!

5. Small Scale Farming

This is a business that can become very lucrative. You could start right from your backyard and begin farming on a small scale. You could plant pepper or grow vegetables and sell them or you can go into snail farming or poultry, and all of this with very minimal resources.

6. Smoked Fish Business

This is another very lucrative business venture. You can make and sell smoked fish across various markets in Nigeria or even go-ahead to export smoked fish to countries like the UK and earn income.

7. Soap Production

Soap production is another business you could start. You can make liquid soaps for bathing or washing, brand them, and distribute them to various supermarkets who pay a week after supply.

You could also decide to promote your soap on social media like Instagram or Facebook and ultimately deliver it to your interested customers

8. Home and Beauty Products

You can start making beauty products like facial creams, liquid or bar soaps and put them for sale. The chemicals needed are easily available at the market. You can start making all of such products with less than 50,000 Naira.

9. Perfumery

This is a brilliant business venture that can bring you profit as high as 100%. You could buy perfume bottles of 3ml, 6ml, or 15ml in their bulk and sell them for double the price and make a good profit. For example, you could buy a bottle of perfume at wholesale price for 500 Naira and sell it for 1000 naira to your customers!

10. Make-Up Artistry

This is a very popular business in Nigeria today. If you are interested in beauty and fashion, this is a very lucrative business to go into. You could do make up for weddings, parties and other events. You could also hold makeup classes and charge them for the entire duration. In the long run you could open up a makeup studio!

11. Hair/Barbing Salon

This is another very good business that can bring you income. If you don’t have a place, you could start at your house or you could offer home services. All you need to buy is the basic tools needed for your craft like scissors, combs, brushes, etc, and advertise yourself and you are good to go!

12. Tailoring/Fashion Designing

This is another super profitable business. People will always have to wear clothes. You can start a tailoring business. All you need to get is a standard sewing machine and some other materials and you are good to go. You can advertise yourself around your neighborhood or on social media to get yourself out there.

13. Jewelry/Bead Making

This is a business you can start up very easily. If you are skilled at making jewelry, you can make necklaces and accessories and sell them to people. All you need are the materials needed to make them which is pretty much less than 50,000 naira.

14. Painting/Artworks

Are you good at painting? You can set up your art gallery and sell them to make money. All you need are your painting materials and you are on your way. You can paint and design images and put them up for sale. Again, advertising on social media is a great way to attract the right audience to your business!

15. Tutoring Business

This is a serviced based business that can bring you big bucks. You can start private home tutoring for kids on different subjects OR you could sign up on online tutoring platforms like Prepclass and get paired with a parent. You could also hold masterclasses on platforms like Whatsapp or Facebook. You could upload your courses on sites like Udemy and get paid every time someone enrolls for your course!

16. Web Designing

This only requires a laptop and your skills! You can design a website for various companies. All you need to do is to sell yourself out there and present your clients with an irresistible portfolio!

17. Social Media Management

This business is on the rise today. If you are skilled in managing social media pages, you can start up your own social media managing business, present an irresistible portfolio to small or large companies and help them reach their target audience and get paid a monthly fee.

18. Writing

Content writers, copywriters, scriptwriters, bloggers, you name it. Writing is becoming a very profitable business today. If you have great writing skills, you can set up an online platform and present yourself out there to those who need your skills.

19. Graphic Designing

This is another popular business in Nigeria. If you are good at designing and creating images using platforms like Canva and Photoshop, you can start up your own graphic designing business and garner clients.

20. Dry Cleaning Business

This is also another business you can start up with. Washing machines cost as low as 18,000 Naira. You can buy detergents, wash clothes from your home, iron them, and deliver them to your customers!

There it is! Those are 20 fantastic businesses you can start-up in Nigeria with as little as 50,000 Naira. Leverage on the power of social media and the internet to push and promote your business. Remember not to look down on little beginnings. With patience and hard work, your business could become second to none in Nigeria!