You don't necessarily have to have a great deal of cash on hand to start your own small business. Many of the biggest entrepreneurs got started working with a relatively low budget. Sometimes having a lower budget forces you to be a bit more creative and thus could lead to some pretty productive results. Below are a few ideas for low budget small businesses that you could potentially get started on now…
PersonalVirtual Assistant - Are you ultra-organized? Do you pay attention to the details? Then this may be the gig for you. You're performing secretarial functions from home. More and more companies and individuals are sourcing out such administrative tasks. Starting a virtual assistant business is low cost as you can essentially work from anywhere. You'll need a computer, cell phone, and reliable Wi-Fi.
Concierge Service. Your job here is to make people's lives easier. Those busy working parents who need deliveries made or dry cleaning picked up for instance. You might be responsible for driving or even dog walking. Essentially you are your client's go-to person for whatever task they may need help with.
Social Media Specialist. More and more firms are realizing that their social media game isn't up to par. And those same companies are increasingly outsourcing this particular role. If you are social media savvy, have a computer and access to Wi-Fi and are a self-starter comfortable working from home, then handling social media for a hand full of companies may be a great small business for you.
Music Teacher. Do you have a passion for music? Enjoy teaching? If you do have a particular talent, be it the guitar or vocal, then starting a teaching business could be a great move. You will need to purchase sheet music, lesson books and potentially dedicate a room in your home to the lessons, but again, the overhead here is minimal.
Cleaning Company. Firms generally hire out their cleaning contracts. You could also work for homeowners who want to lighten their load and thus have someone come in and clean for them. Starting a small cleaning business is very economical. Some supplies, and a few pieces of smaller equipment and you're poised to get cleaning!
If you have a small business and need funds to grow your company—we'd love to help. With short term loans, lines of credit and merchant cash advances, First Union has been helping small businesses expand and thrive. Call today!