Low-Capital Business Idea & Approach For 2024

Hey there! It is 2024 and a brand new year. I am excited. Are you? This year, I want to work closely with young people, especially those passionate enough to build and endure before the money starts flowing like milk and honey. Let’s find a low-capital business or project that would make income flow. Many youngsters are confident in their abilities, knowing that they are so good and expect to make money from their talents and passion. I see you! Welcome to a great start in 2024. 

Must you be passionate about your idea?

Yes, yes, yes! At least, even if it’s not the “big dream” you aim for, for now, as far as it is the present activity you are venturing into, be somewhat passionate. You should look into three significant sectors this year: Production of tangible goods, health services and food. I hope you find beautiful ideas within these sectors because they are here to stay!

The production powerhouse of the world is shifting!

We live in a global world. Agree? Good, let’s think further. Man, “first-world countries” are incapable of meeting their basic needs. Meat, grains, and more are being imported from nearby low-cost countries. Far away from Asia, clothes are being imported to Western Europe. If everyday garments are produced in many Western countries, many would not be able to afford them, especially in the quantity they desire to consume, due to the cost systems in these countries. 

This imbalance has made China become the world’s powerhouse. But even in China, things are changing. As the middle class evolves, they, too, will need another powerhouse to fulfil their basic needs. This is where many young, enthusiastic African entrepreneurs can start to develop skills. And even without the West and China, look at the African continent; this is a population to serve! So check the list of things imported into your country and find one that you can produce within your country.

Major Step One: Learn how to organise a production. 

You must not have the technical skills needed to produce, but you can develop the managerial skills to organise a production that can compete with counterparts outside Africa. Create a business model around making something tangible and manage logistics for worldwide delivery. When I say tangible, I mean a product that is in demand, a product that can be standardised, a product that you can source raw materials for and something that resonates with you. To find that product and develop your business model, use our business plan tool in our app tribe.joadre.com

If you need more inspiration and low-capital business ideas, visit our idea hub at tribe.joadre.com

Ideation: Connect Health Care services to the Food industry. 

Undoubtedly, our world is becoming even more complex regarding care and health. There is a rising health crisis. This “First World” health crisis is tied to the Western diet. Now, here is the deal for those living in African urban cities. As sad as it sounds, this food-related epidemic will impact our cities if we do not begin to prevent it. Why? We, as Africans, are moving further away from our own indigenous meals to embrace highly processed diets, for which our bodies have not been primed in the last thousands of years. 

We are so far from our cultures that many young people today would think polished “empty” Jelof and fried rice is an indigenous Nigerian food. Lol! I say EMPTY because it lacks the needed nutrients, either missing from the start as it has been polished away or evaporated into the air through the cooking process. There is much to explore and learn, and schools do not give us this knowledge. So entrepreneurs can build their empires and create impact. 

There are enormous opportunities in 2024.

As an entrepreneur, it is time to create healthier food options and health programmes to cater to this urban population. Programs can range from delivering healthy meals to simple educational workshops showing people how to live healthy and nutritious lives. There are enormous opportunities in 2024. Do not let them pass you by. Join Joadre to stay connected, know what’s next and profit from all our resources. 

Connect with us, and get our app.

We hope you got value out of this article. Let us know how we can support you and share your results with the TRIBE. Follow us on our social media – InstagramFacebookTikTokLinkedinTwitter, and YouTube. It is time to own your life. We created our Tribe platform to empower African students and Savvy entrepreneurs looking to start a business. Get our TRIBE APP here at https://tribe.joadre.com. Sign up for our newsletter here for our monthly mail. If you wish to contact us, use our contact form or the contact menu in the TRIBE app. 

Thank you for reading to the end. 

Cheers

Joadre

Joadre
Joadrehttps://www.joadre.com
I am Joana, a Nigerian-born Austrian-based entrepreneur and activist. Founded Joadre in 2012 and continue to develop content to engage and empower African SMEs.

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