14 Low Cost Business Ideas

Considering  to start a small business but you don’t have much money to invest? Check out these 14 list of profitable low-cost business ideas you can start quickly and inexpensively. You do not need millions to start your small business. The key to start a business is your passion and commitment.

1. Cover Letter/Resume (C.V) Service

Not everyone can write a well presentable resume or cover letter for job application. With your language, editing and basic layout skills, you can start resume writing service. Lots of client wouldn’t mind paying $50 equivalent to get a well written CV and cover letter.

Business ideas

2. Bookkeeping Service

If you are an accounting technician or even a chartered accountant, there is a huge market of small and medium size enterprises that need the service of a bookkeeper. Even with modern software like Ms Excel, QuickBooks some of the owners do not have time to record or cannot classify the transactions into the right category. This is where you come and support them say once in a month or quarter.

3. Tax Preparation

If there is anyone thing that is certain in any government is taxation. There will always be a need for tax preparation for business and individuals. They have numerous tax forms to file quarterly or annually including corporate tax, sales tax, VAT or personal income tax. All you have to do is to understand the latest tax regulations. If you can afford it, equipped yourself with a tax software and get ready to file tax for your clients.

4. Debt-Collection Service

There are lots of companies who often have issues with their credit clients. You can help them recover their debts and you get paid when the debtor paid the amount due. Sometimes even bankers will need your help to recover some of their non performing credits. Delinquent customer has cost lots of business.

5. Business-Plan Consulting

One of the key document external financier ask for is the business plan. It is a document that explains the business goal, model, customers , industry and strategies. With your excellent business writing skills, spreadsheet know-how, and general business knowledge, show clients how to present a bankable plan to a potential investor. Again, if you can afford it, there is number of business planning software in the market. Read more about business plan post.

6. Language Translation

An increase international trade presents business opportunity for language translation and interpretation. As a writer and speaker of multiple international languages, you will be at the forefront. Study language such as Chinese, French or Spanish, Arabic etc. Trust me, if you push more on this business idea, you have an international business.

7. Tutoring

Think about it: As a tutor, you could help others become proficient in their studies. Whether it is high school, college or even university, help others to understand their course. I know a number of people who turned their part-time tutoring classes to a full-time school (business).

8. Copywriting and Proofreading Service

Copywriting is the process of writing advertising promotional materials. Copywriters are responsible for the text on brochures, billboards, websites, emails, advertisements, catalogs, and more. Do you understand the concept? you just have to write a catchy and error-free advertising copy for clients. Please don’t confuse it with the word copyright.

9. Sales Training

With some experience, readings and self-application, you could have what it takes to build your own business as a sales trainer. Share your sales strategies and tips with business managers probably via social media like LinkedIn Pulse. There are lots of sales training books and courses to start building your own skill e.g Brian Tracy International .

10. Web-Site Designer

With your technical skill and a good software, you can easily develop website. You do not have to be a super developer to set up a simple website. You can also help clients to update their website contents. I didn’t pay a developer to get this website running, I only bought a developed template ($43.00)

11. Executive Search

Searching C-level or senior staff can be very challenging for some clients. Use your contacts and network to help corporate client to get the right executive staff. Your work will involves placing adverts, conducting interviews and screen potential employees for clients. Put on your best candidate, and get paid.

12. Wedding Planner Service

Many women are busy with their work life and managing a huge event like a wedding may seem overwhelming to them. That is why most people wouldn’t mind to use a professional wedding planner provided they can afford it. If you are a well-organized person why not consider running your own wedding planning firm.

13. Interior Design

Whether you start it with furnishings or curtains, people have the desire to make a beautiful decoration within their house. You can help people with limited budget whiles growing to a profitable interior design business. Target busy couples and foreigners who just came to stay in town. Can you imagine how much this service cost me when I moved to Lagos?

14. Social Media Marketing

With a good amount of loyal followers on your social media profiles, you can start marketing of products. There are various companies looking for Social Media Marketing professionals. It can be successful if you do this with blogging where you can as well review new products.

 How about home business ideas ?

 If you want to consider home business, why not check these business Ideas for Stay at Home Moms.

Whatever business idea you want to adopt, remember you have to be solving someone’s need.

4 Comments on "14 Low Cost Business Ideas"

  1. Great ideas and am sure it will help all those who are thinking of business

  2. Alhagie S. Jallow | 26-Jan-2015 at 16:20 | Reply

    It has been very helpful to me as am in to training vulnerable families in small scale businesses at the community level. Thanks to you Ebrima.

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