Many people dream of becoming self-employed but the potential costs involved with starting a business can be off-putting. While it’s true many businesses require a lot of initial capital to get them off the ground, there are some self-employment opportunities that require a very low investment to get them started. Here you’ll find 3 examples of low investment businesses you can start right now.
- Freelance work
There are more freelancers operating today than there ever has been. This is largely thanks to the internet making it easy and cost-effective to start up and run a freelance business. Freelancing work covers a wide range of sectors and it enables you to work within an industry that you’re already skilled in. Just a few examples of freelance careers include web designing, photography, writing and offering personal assistance work to companies and individuals.
- Home improvements
If you’re a dab hand at DIY, offering home improvement services is going to potentially make you a lot of money. With this type of business, you will typically need some professional qualifications. However, if you’re currently not qualified the cost of training and getting a qualification could cost under £1,000 depending upon the type of DIY work you want to carry out. You’ll also need to take into account the cost of any equipment you might need. Drills, screwdrivers, spray guns and toolkits from reliable manufacturers such as SGS for example, will be essential for this type of work.
- Home baking
Do you love baking? If so, you could start your own at-home baking business. Besides ingredients, the only other things you’ll need are professional baking supplies to decorate your creations. People are willing to pay a lot of money for good quality birthday, wedding, anniversary and christening cakes for example. You’ll also have plenty of opportunity to earn extra money on key dates such as Valentine’s Day, Halloween and Christmas. It’s a business that’s always going to be in demand.
Overall these are just 3 different types of businesses you can start with a low investment. There’s also plenty of free tools and advice out there that can help get you started. While every business requires some form of capital to get it off the ground, some are a lot more affordable than others. So don’t let the cost put you off your self-employment dreams. Think about what you really want to do and research. You’ll find all kinds of money-saving tips online.