5 Low-Cost Business Ideas For Budding Entrepreneurs

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Photo: Humphrey Muleba

When you’re someone that has always loved the idea of running your own business, it can be strange to actually think about bringing it to life. Yet, you may find that you get to the point where you just want it to happen. But where should you start? Because that’s the thing about starting a business – you need to know exactly what to do and how in order to get it off of the ground.

Maybe you’re not even sure what sort of business you want to run? You wouldn’t be the only one. There are so many options and it can be so hard for you to work out what you want to do. If you know that cost is a barrier and you don’t want to launch a business that costs a lot of money, you’ll find that these low-cost business ideas are perfect for you.

A Blog

First of all, there’s a blog. Maybe this is something that you’ve always considered doing as a side hustle? Then why not start? The costs are low with hosting and blog design, and you can just get to work. After a few months or so, you might then be able to earn some money.

Consultancy

As a step on from that, you could become a consultant. If there is something that you’ve always done in your day job and you’re very skilled and experienced, you could translate it to being self-employed. Creating your own consultancy could be the perfect thing for you.

A Skilled Service

From here, you might want to launch a service based business based on a set skill you have. It could be editing videos with cinematic music, creating content as a writer, or even helping people as a virtual assistant. If you have a set skillset, you could offer this as a service and build your business up from there.

Selling Online

Then we have the idea of selling something online. If you know that you want to be able to source products and sell them on somewhere like Etsy, Amazon, or eBay, this could be the dream business for you to launch.

Using What You Already own

 Finally, you may find that you can create a business using things that you already own. One idea here is renting out your home on something like AirBnb or even renting out a room long-term. You could even rent out storage space too. This could get you an extra income. Or, if you have a car, you could start Ubering in your free hours to build this up as a business for yourself too.

When it comes to launching a business, you’ll find that there are just so many different things that you can do. You just need to pick out something that you feel like you could do well and would enjoy. So focus on what you think would work for you and get started.


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