Making money online with zero capital

The labour market in the country is saturated with skilled graduates who are highly qualified and are ready to prove themselves. However, most corporate organisations prefer to reduce the size of their workforce to ease overhead costs and find other ways of increasing productivity.

In a survey by the National Bureau of Statistics, it was discovered that most job vacancies request and applicants with entry level experience between one and three years, mostly in the trade and services sector.

The 2015 online recruitment report states that more than 60 per cent of jobs require less than three years and the vacancies were for 21 out of 26 industries.

Despite these job opportunities, the number of unemployed people keeps rising as the tertiary institutions continue to churn out large number of graduates every year.

However, experts say that these young people with life aspirations and financial responsibilities can make use of the Internet to make money with little or no capital.

The Internet has also proved to be a worthy partner for small businesses and corporate organisations in improving work processes and executing business transactions speedily.

The Internet is useful in telecommuting

A travel and technology writer with Jovago.com, Nkem Ndem, says that even those who are in permanent employment after sometime, start complaining of poor salary.

She observes that most graduates who wish to be employers of labour and have acquired the needed skills are unable to start a business due to limited funds or the lack of it.

She adds, “Although the everyday ‘9am to 5pm’ is the standard employment expectation of Nigerians in cities all over the country, especially Lagos, Abuja and Port Harcourt, the Internet has ensured that there are alternative ways that these potential workers can make more and earn a living.

“Aside from checking your emails, searching for information, skyping with friends and shopping, the Internet can help anyone make money in quick and uncomplicated ways; even without initial capital or professional skills.”

Ndem highlights three major ways by which people can make money online easily without the limitations of an office job.

Affiliate marketing

Nigeria is ranked high in the use of the Internet and as of July this year the Nigerian Communications Commission says that about 93 million Nigerians access the Internet using the country’s telecoms networks.

According to statistics from eMarketer, a digital market analytical platform, the country has 23.1 million smartphones users in 2015, a figure projected to increase to 34 million in 2018.

Ndem explains that apart from connecting with people using the social media, it can be used to link people with service providers in the country.

According to her, new and existing companies as well as their value propositions can be promoted and money earned in return.

She explains, “This sounds complicated, but it is actually much easier than most physical jobs. With the Internet came the social media, blogs, Facebook, LinkedIn, Twitter, Instagram and more, and Nigerians, especially the working population have embraced it with wide arms.

“A majority of them are registered and have active presence on these platforms. While having fun, socialising, chatting and posting pictures are the norm on these platform, these users can actually utilise their presence towards making funds by promoting all sorts of companies, products, services and offers online.”

The travel expert says that interested people can join an affiliate network online, blog or browse the merchant listings, grab an affiliate link and share it.

She says, “If someone buys using the link they make a commission. The good thing is that a lot of online platforms for buying and selling have been popping up around the country and are currently in need of sales representatives.”

Online surveys

Ndems notes that Nigerian companies are beginning to conduct more market research to improve on their products and services and they prefer to use online surveys because most people find answering questionnaires and filling forms tedious.

She adds that these companies recruit people and offer them money to complete the surveys online.

“Because most people find answering questionnaires and filling forms tedious, these companies attached monetary incentives to motivate people towards filing the form,” she says.

“Research companies take it a step further by recruiting new members to answer surveys and test new products and for a few minutes of filling forms, the person can make a couple of cash or a reward. It is usually a slow and steady process but it is very convenient as you can work from anywhere and at any time, even from your toilet! Aside from local Nigerian companies, people in Nigeria can also try international and foreign organisations including MySurvey, Global Test Market and more,” she adds.

Competitions

Ndem says that there are competitions in which people can earn money by actively participating in them.

She says that there are some offers in which people are asked to like a post, share or tag other people in exchange for money.

However, she advises that caution must be taken when engaging in those activities because some may be fraudulent.

Ndem explains, “This is a tricky one as entering a competition generally does not guarantee a win and can sometimes be not just time-wasting but also exasperating.

“However, there is a growing community of competitors consistently making lots of money per time, through all sorts of competitions. These competitions vary, from simply liking a post or picture, to reposting and tagging or just filling a form. You however need to be careful, as some of these competitions might turn out to be fake.”