Where to find business ideas with minimal capital required?

Where to find business ideas with minimal capital required?

One of the most important problems any person who wants to become a businessman or businesswoman is how to fund the business model for initial startup and then at later stage for growth and expansion. What if we could solve this important problem presenting at least 5 business ideas that someone can start with minimum required capital? These business ideas are low cost business ideas that can be applied very quickly and can produce income and capital within a few days or weeks. And they do not require any complicated business plan also. So what are these promising low cost business ideas?

Business idea number 1: Consultancy

Wikipedia defines a consultant as “A consultant (from Latin: consultare “to discuss”) is a professional who provides expert advice[1] in a particular area such as security (electronic or physical), management, education, accountancy, law, human resources, marketing (and public relations), finance, engineering, science or any of many other specialized fields.

A consultant is usually an expert or an experienced professional in a specific field and has a wide knowledge of the subject matter. [2] The role of consultant outside the medical sphere (where the term is used specifically for a grade of doctor) can fall under one of two general categories:

Internal consultant – someone who operates within an organization but is available to be consulted on areas of his specialization by other departments or individuals (acting as clients); or

External consultant – someone who is employed externally to the client (either by a consulting firm or some other agency) whose expertise is provided on a temporary basis, usually for a fee.”

As long as you have any professional expertise you have the necessary requirements and skills to become a consultant and choose the topic you prefer such as business, finance, or marketing. There are very few costs associated at first as you can use your home as an office and mainly all you need is time, very good internet access and a mobile phone for business purposes plus availability even during weekends. Maven is an online platform that you use for finding consulting opportunities on your topics of expertise.

Business idea number 2: Accounting services

Accounting services is a very popular and classic business idea. Obviously you must have basic or even advanced accounting knowledge and skills, preferably a degree on Finance or Economics or even a professional designation like CPA or CMA. Again you can use your home at first as business office and most items needed like a desktop computer, a printer or excel software for financial analysis are probably items you already have so no capital is needed to spend for initiating this low cost business idea and opportunity. There are both general accounting services like preparing internal revenue services for individuals, but also more advanced and specialized services such as tax planning, profitability and financial analysis of business projects, real estate taxes analysis, business specific accounting advice services for industry sectors such as maritime companies which often have specific regulations and laws. Any specialization in such an industry can have a competitive advantage for your business services and you can set your own rates if your competition in a chosen industry is very little from other accountants.

Business idea number 3: Law firm

We do not have the typical very large law firm with numerous lawyers in our mind but a smaller law firm with even one or two persons. This is realistic and you can even start this business idea while you are still a recent graduate from a reputable University. In fact it will a good idea to start small at first and pick a few of numerous types of legal services to offer, not all. The choices are very wide, such as criminal defense, driving offense, immigration services, services for businesses and a very popular service like trusts and estates. There are many institutions, foundations and endowments worldwide and many ultra-wealthy individuals asking law services to develop a tax efficient business plan suited to their specific needs. Again you can set your rates of professional compensation and these can be very high as both individuals and companies are willing to pay for a personalized service that will help them meet their goals and desires. We should mention also two very popular law services, divorces and car accidents or personal injuries. The cost of capital for providing these services is again minimal and you can be a freelancer lawyer not only locally but also globally having a website. The cost of building and maintaining a professional website can be under 200 or 300 dollars annually, a cost that can be recovered from your first case. Again as a lawyer the capital required at first will be minimal, mainly a business cell phone and a business email plus a printer which do not cost a lot.

Business idea number 4: Application Software Company

What is really an application software? According to webopedia “An application is any program, or group of programs, that is designed for the end user. Application software can be divided into two general classes: systems software and applications software. Applications software (also called end-user programs) include such things as database programs, word processors, Web browsers and spreadsheets.” There are many choices to choose from, either system software such as an operating system or utilities or application software such as word processing, databases, graphics or even games. The skills and requirements you must have are very good knowledge of computer programming languages, a portfolio to brand your name and promote your services plus a very good and fast computer with latest technology such as graphics and processors. But yet most of us have already one of these computers already, if you have a laptop with latest Intel processors will be just fine. The good news are that there are many free online courses and tutorials to help you learn fast these application software solutions and you can even get paid to provide tutorships on these subjects as well. A popular business idea to focus on is creating mobile applications or games. You can sell these services to Android marketplace or Apple’s marketplace for amounts of amount either very small like a few dollars or very expensive like a couple of hundred dollars. Specialization in creating any application software program such as a spreadsheet is again a very good idea as competition is sometimes fierce in this business niche, but growing opportunities are endless.

Business idea number 5: Social Network Business

From Facebook marketing to Twitter or Instagram marketing for business purposes the choices to offer social marketing or social branding are numerous. We recently attended the first Facebook boost your business event in Athens, Greece where we heard that mobile applications and mobile marketing are the future of business. While typical requirements will require a degree in marketing this is not an absolute rule. You can start this low cost business idea and opportunity without having a degree in marketing. If you possess social media knowledge and have an active account in top social media sites such as Facebook, Twitter, Instagram and Pinterest then you are perfectly fit for this business opportunity. The initial cost is very minimal, you will require a fast and reliable internet access, plus a business email and a tablet of a desktop computer. Again you probably have already these items. The main challenge to this business idea is to be productive, energetic, very sociable and active in producing content and building links for sponsored promotions of company branding purposes. There are many companies which are in need of a blogger to run their social media accounts and the compensation is very attractive. You can be as creative as you wish, creating viral content which will attract many online visitors to marketing campaigns. This viral content can be funny, unique, challenging, or informational. There are no limits. There is only one very important thing to consider which is avoiding spamming social media sites as in this case your personal or business profile may be banned and lose access temporary or permanently, meaning you must start your marketing and business efforts from the start. But this is a very small risk overall. As social media sites are very popular this trend is most likely to persist in the future offering a low cost business idea but with a great potential of profitability. There is always the need for brand new or established companies to target specific demographic audience based on some criteria and after you build a portfolio of customers and projects you can demonstrate online, the possibilities to gain new customers are endless. Choose your rates, be always fast to respond, bring some results and this low cost business idea can be both a fun and high rewarding business after all.

Business on the internet

As we mentioned these 5 business ideas to start immediately with minimal cost are easy to apply and most importantly are proven and in high demand. You can choose more than one of these ideas to focus on. But start small, and then expand your services. Be creative, open-minded, sociable, energetic, and full of productivity and success will follow soon.Start your own internet business,online business,business on the internet.

Leave a Reply

Your email address will not be published. Required fields are marked *