4 Small Business Ideas You Can Start With No Money

The idea of starting your own business can be exciting. However, many business ideas require money, time and willingness to take risks. While logistics and cost upfront may be your top concern, it is possible to bypass the high costs of starting a business, including retail space, initial inventory and warehousing. Here are four small business ideas you can start with little or no money. 

Become a consultant 

The consultancy industry is fast-growing due to the numerous people and businesses that need advice. So if you have the skill or experience in a particular industry or field, you can offer consultancy services. This business doesn’t require any startup costs since you only need your experience and skillset to begin. However, your background will determine to who you offer your services. Additionally, you need to be sure you are available to give advice when needed. Currently, practising consultants in the UK make between £30,000 and £60,000 per year, depending on their field and experience. 

Online retailing 

Since the digital revolution began, everything from shopping to cash payments has moved online. Today there are many ways to get your service needs online, like visiting the physical retail store. This is why starting an online business appeals to many people, and it is no surprise that many retail stores are taking their businesses online. Fortunately, it is relatively easy and cheap to set up your online store. All you require is a reliable and efficient eCommerce site.

When setting up your website, it is advisable to use a platform that optimises your conversions and ROI. Hosting platforms such as WooCommerce (here’s the link) are great options.

Don’t forget to set up your social media platforms as well so you can expand your reach and get more people viewing your business. You would ideally like them to turn into customers helping you to gain a profit. It can be hard when you start out online as a small business, so utilizing whatever help is available will be important. For instance, there are Instagram followers for sale online which can help with building on your followers and increasing engagement.

Start a “dropshipping” business 

Running a business can be tough when you have to buy products, store, pack and ship to potential buyers to make money. But what if you can have a third party manage all these processes? Dropshipping is a low-cost business idea you can start without worrying about the cost associated with inventory management. While a third party handles the products, you only make the sales and pass orders to your suppliers. 

Launch a book 

If you are interested in publishing, writing, illustrating, or simply having something you want to put in a book, you should consider launching one. You can choose from several options, such as children’s books, comics, cookbooks, poetry or photo books or novels. You just need to be creative to offer original books to the market. This makes launching a book one of the lucrative business ideas you can start. Fortunately, print-on-demand offers a relatively safe way to test the market before starting self-publishing. Likewise, it offers you control over the look and quality of your books. 

Although becoming your own boss can be intimidating, it is possible now more than ever thanks to technology, budding online ideas and third-party suppliers. This article highlighted a few ways to start your business without a thick pocket, but there are several more options to explore.

*This is a collaboration post