Starting a business is one of the most difficult steps to take. But however challenging and demanding the journey could be, there is always a possibility of success.
Governments around the world including the UK government value the importance of entrepreneurship among young people. The is why the governments are offering supports to young entrepreneurs and tech startups.
Additionally, friendly startup cities are springing up for entrepreneurs around the world. This is one of the best ways the government is trying to help make entrepreneurs thrive.
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However, going into entrepreneurship is an elephantine task, especially, if you are young and inexperienced. You could have everything; money, resources, and others – but the fact is that entrepreneurship requires a lot more to be successful.
Entrepreneurship is a risky adventure, so, is entrepreneurship for you? In some cases, you will have to be financially buoyant to go into entrepreneurship. This is because some startups require a huge financial resource.
Profitable small business ideas on a shoestring budget
Yes, we all know that money is a big issue when it comes to entrepreneurship. However, don’t let money put you off from being an entrepreneur.
You can still achieve your big dreams. You can still be able to say goodbye to your boss and start your own business without spending too much.
However, entrepreneurship is not just about launching a startup, it’s also about running the business. This is where you will spend most of your energy and resources. You have to plan ahead and devise creative ways to run your business on a shoestring budget.
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In most cases, starting a business does not have to cost you a fortune. So, are you still wondering what kind of profitable small businesses you can start without spending too much money? If you are planning to start a business on a small budget, here is a list of profitable small business ideas you can start on a shoestring budget:
#1]. Cleaning business
The cleaning business is one of the most profitable small business ideas you can actually start on a shoestring budget. You can easily work as a house/home cleaner where you will be moving from one house to another.
This kind of service is in high demand because many people don’t have the time and patience to clean their houses nowadays. One thing you should know is that people are willing to pay you for helping them clean their homes.
So, if you are able to offer great services at affordable prices, you will find this business to be very lucrative. In fact, you will eventually get to the point where you need to expand your business.
#2]. Freelancing
Freelancing is another profitable small business idea that you can start on a shoestring budget. Freelancing offers you the opportunity to conveniently make money from your creative skills.
This is particularly profitable if you have some kind of skills that are in great demand. You can offer such services as creative writing, graphic design, web design, etc.
The freelancing world is consistently growing as it gives freelancers the opportunity to work from home at their own pace. All you have to do is to research the market and luckily, there are so many freelancing sites out there that you can join and start earning income.
#3]. Business consultant
Business consultancy is all about problem-solving and it’s something you can also do if you have what it takes. The fact is that there are so many businesses out there that are in extremely serious need of problem-solving pieces of advice. You can go into this kind of business and help other small business owners take their small businesses to the next level.
A business consultant earns a lot of money and it doesn’t require a fortune to get going. You can even work and grow your business from home which means, you will be able to save money on overheads. However, you will need to have some good business skills to be able to excel in this kind of business.
#4]. Daycare, childcare and childminding business
So many young couples are sometimes too busy to have enough time to spend with their kids. If you like children and very great at looking after kids, you can go into childcare or childminding business.
So do you love working with children? Starting a daycare would surely be a perfect choice for you. This kind of business usually doesn’t cost much to set up. However, there are some prerequisites you will have to fulfill before you can start this business.
Apart from all the necessary academic qualifications, there are several government regulations you will also have to observe and keep. The best way to go about it is to do more research concerning rules and regulations in your area.
#5]. Virtual assistants
Virtual assistance business is another startup idea that won’t cost you a fortune to set up. A virtual assistant helps companies in need of administrative assistance but can not afford to hire someone on a full-term.
They carry out some administrative tasks and you can work from your home. Most virtual assistants have more freedom in the ways they work because they operate like contractors or freelance workers.
This means that you can do your job from home and avoid high overhead costs. There are so many valuable resources online that can help you learn how to set up a home-based virtual assistant business.
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These are great ideas for people to try as a side hustle, in school or just starting out on their own in business. Lots of good tips and suggestions for a business that would actually work and bring in good money. Freelancing and business consulting really have a lot of different possibilities that you could do with those! Now you’ve got fresh ideas flowing for me to try! Thanks
Your article was a real eye-opener for me. Thank you for challenging my preconceived notions and expanding my worldview.