Have you thought about starting a business but aren’t sure if you have enough money to start? Here’s the thing, you don’t need a lot of capital to start a small business. Initially, it can start as a side hustle. When there is more demand, you can grow the business and better the processes and systems. Look for businesses in this article that stand out to you. Potentially a business idea that matches your interest or one that you would like to learn. For many people, the primary reason that they don’t start a new venture is that they are concerned that they can’t afford it. However, there are many businesses that don’t take much capital to start. In this article, we are going to cover some businesses that you can start with little cash on hand. Hopefully, these inspire you to start instead of standing on the sidelines. If not, then let’s see if any of these will get you up and moving.
1. Content Creation
Social media is a continual cycle of entertainment, news, and education that has created an incredible opportunity for professionals such as writers, video editors, and designers take their talents to the marketplace. These creatives are able to create sharable content for media outlets and businesses. The growing gig economy makes it simpler to market yourself as a professional freelancer and contractor.
2. Virtual Assistant
If you have good organizational skills and are focus-oriented, you can be of assistance to busy entrepreneurs that need help with secretarial tasks that don’t require on-premises activities. You are able to work from home and with various clients at one time. Part of this entails calendar management, flight scheduling, meeting coordination, and other clerical work.
3. Event Planning
If you are a detail-oriented person that enjoys planning and coordinating parties, you should look into event planning. By being highly-organized and meticulous, you can work on weddings, reunions, travel itineraries, birthday parties, etc. This is a business idea that makes hosting a great event easier. Plan a few events pro bono to get the experience under your belt. Once you have build up a solid database of vendors and contacts, you can start orchestrating seamless events.
4. Errand Running
This would be more of a side-hustle than a scalable business, but you will be tasked with running personal errands for your clients. With the right attitude (attitude being one of the most important qualities), you can have an ongoing role with your client by freeing up time for them to take care of the more important things in their life.
5. Professional Reviewer
A professional reviewer evaluates products, websites, services, for established companies, new brands, or entrepreneurs that need a second set of eyes. They are paying for an honest assessment so that they can confidently take their offering to market. With this idea, you get to try innovative products and technologies, read new books, experience services, while getting compensated.
6. Social Media Coordinator
Here’s the problem, smaller businesses can’t afford to hire an employee to handle their social media, however they can’t spend time being consistent on apps either. It’s a lose-lose. They know that they need to be online, yet they don’t have the time or money. Which leads to them being too busy and overwhelmed. As a coordinator, you will help them with scheduling, determining best strategies, and posting and creating content. As they grow, so do you.
7. Etsy Seller
If you don’t already know, Etsy is a widely used marketplace for homemade goods. Tens of thousands of of do-it-yourself (DIY) producers sell their jewelry, patches, and other merchandise using the platform. While there are some fees for listing, transactions, and payment processing, overall, selling on Etsy is affordable and simple to start.
Closing
Those are our initial seven (7) affordable business ideas that you can use to hit the ground running. Don’t let cost be the reason that you convince yourself not to start. Get out there and try one or two of these. Stick to it for six months to a year. If you aren’t feeling as if it’s the right business for you (if it doesn’t feel natural), try a different one. And worry not, we will have another post that lists more low-cost businesses for you to start.
Check out the next 7 business ideas, if none of these did it for you.