Business Ideas with Small Budgets

24 August, 2012

Hope amidst recession 

The average person whether we like it or not, is today struggling from the impact of the severe recession which has engulfed the world since 2008. It is quite common to see thousands of people, who have lost their ‘well paying’ jobs, within a matter of days since. It is also common to see many people working long hours at much lower pay. There are also many people who are working fewer hours as their services are not needed beyond a point. Such people do not know how to spend their time, owing to the lack of opportunities.

However, even in this hour of gloom and despair, there are quite a few bright business ideas which make it possible for us to start off, with a very limited budget.

Capital and risk

Capital and risk are perhaps two of the biggest factors which hold back many hard-working and enterprising people from starting businesses. Without a clear credit score, it is generally not that easy of a task to get a business loan as venture capital for a new business. Australian business loans can still however be applied for through banks or brokers. What’s important is that you have a clear risk assessment with finances clearly planned out as evidence of how you plan to run the business and make a profit. Of course, not everyone is capable of establishing a well functioning business, so let’s start with something small and simple.

Ideas to get you started

Here are a few ideas that could be tried out, where the capital is low and the risk element is also very low. House sitting or pet sitting business is something which requires very little money and very little skill. Owing to increasing crime rates, people are hesitant to leave behind their homes empty and would like someone to watch their homes or condos. You could either stay in such homes overnight or keep a watch on them, on a regular basis. Though this is not a permanent job, you can be occupied and earn some decent part time income.

Online businesses

You could also look into the possibility of starting an online business. This requires very little capital to begin with. In fact, there are many people who have earned even the seed money without spending a single dollar. Wholesale items can be bought from overseas countries for a fraction of the local price. Once you have some products in hand, you could open an e-bay account and sell them off. You could use this money to start your fully fledged e-bay business. You could quote a higher rate on e-bay and pocket the difference. In fact, there are scores of people who have built big businesses using this route.

You could also have a look at other ideas such as becoming a home organizer or getting into a cleaning business. However, this could require some prior experience but is something that can be learnt fast. The best part is that you can start off with very low budgets. 

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