20 Small Businesses Ideas to Launch Under Low Budget
In today’s dynamic economic landscape, amidst slow growth, high inflation, or recessionary pressures, the quest for additional income avenues is ever prevalent. Delving into entrepreneurship with minimal investment is not only feasible but often simpler than anticipated. With less than 1 lakh, you can embark on a side hustle that not only supplements your income but also mitigates financial strains caused by rising expenses.
- Financial Bookkeeping Services: With just a high school diploma, you can venture into bookkeeping. Acquire necessary skills through local courses or online classes and obtain certification. Marketing yourself on platforms like Upwork or social media can fetch you contracts, charging approximately INR 196 per hour.
- Tutoring: Utilize your expertise in any subject to offer tutoring services. Spread the word through social media or local community groups. Hourly rates for tutoring hover around INR 221 in India.
- Consulting: Leverage your expertise in a specific field to offer consultancy services. Networking, both online and offline, is crucial. Rates vary widely but can average around INR 493 per hour.
- Delivery Service: Join platforms like Uber or Grubhub to provide delivery services. Minimal investment is required, mainly comprising vehicle costs.
- Online Store: Start an e-commerce venture with a single product. Initial costs include website setup, product procurement, and marketing.
- Pool Cleaning Service: In warmer regions, pool cleaning services are in demand year-round. Investment entails equipment, chemicals, and marketing efforts.
- Graphic Design: If you possess digital artistic skills, offer graphic design services online. Invest in essential software and establish an online presence.
- Pet Sitting: Turn your love for animals into a profitable venture by offering pet sitting services. Invest in insurance and marketing.
- Property Management: Offer property management services to homeowners or rental property owners. Licensing requirements may apply.
- Personal Training: Utilize your fitness expertise to offer personal training services. Certification and minimal marketing investment are required.
- Auto Detailing: Start a mobile car wash service with basic equipment and insurance.
- Dropshipping: Start an online retail business without stocking inventory. Invest in a website and marketing.
- Virtual Assistance: Provide administrative support to professionals as a virtual assistant. Minimal investment in equipment and online presence is necessary.
- Staffing: Serve as a liaison between employers and job seekers. Licensing and online presence are essential.
- Tour Guiding: Utilize your knowledge of local attractions to offer tour guiding services. Marketing efforts are crucial.
- Website Design: Offer website design services with expertise in coding and design tools. Invest in software and marketing.
- Professional Cleaning: Start a cleaning service with minimal equipment and insurance.
- Etsy Shop: Sell homemade goods on Etsy with minimal investment in materials and marketing.
- Lawn Care: Offer lawn care services with basic equipment and transportation.
- In-Home Caregiving: Provide caregiving services with minimal investment in certification and transportation.
Conclusion: Launching a business with limited capital is feasible across various industries. By leveraging existing skills and investing strategically, entrepreneurs can establish profitable ventures that supplement their income and provide financial stability.
