If you long to work for yourself and to escape from the 9 to 5 drag, self-employment could be for you. There are thousands of entrepreneurs across the UK, and starting up your own enterprise could allow you to live life on your own terms whilst shooting for the stars with your commercial ambitions.
Contrary to popular opinion, you don’t need a lot of capital to start a new business. In actual fact, it’s entirely possible to start a business with an extremely limited initial investment. Of course you’ll need to put in plenty of hard work – but with the right concept and a very small capital outlay, you could get your business off the ground and start earning the money needed to expand.
To get the creative juices flowing, here are six examples of businesses you can start for less than £100.
1. Social Media Management
Modern businesses need social media if they want to compete, but there’s a massive learning curve – especially for the older generation. If you’re adept at handling Facebook, Instagram, Twitter and other social media platforms, all you’ll need to do is use a sufficiently capable computer to start offering your services to other entrepreneurs.
It’s a low-cost way to turn an internet connection into a money-making opportunity.
2. House Clearances
People keep all kinds of clutter, and they don’t generally like throwing things away. That’s where you could step in to provide decluttering services by removing waste and other items from people’s homes before disposing of it all in a legal and sustainable way.
Whilst you may well need to use your vehicle (preferably a van) for house clearance operations, it’s worth finding out whether you need to apply for a commercial waste disposal licence before starting out.
3. Tutoring
Tutoring is an increasingly popular way to make money – whether online or in-person. If you have a subject that you’re good at, there’s sure to be no shortage of people who want to learn your secrets.
The answer is to impart your knowledge for a fee – and the good news is that you won’t even need to secure any particular qualifications or certifications to start tutoring. This is because there are scores of foreign language learners who are always looking for the opportunity to practice by holding one-on-one conversations with a native speaker.
4. Photo Editing or Graphic Design
If you’ve got an eye for detail, professional photo editing could be your big entrepreneurial break. Using photoshop or another premium product package, you could help people to bring their photography to life, to restore faded images, and to help e-commerce businesses who need striking images with transparent backgrounds.
In a similar way, graphic designers are also in high demand. If you have an interest in drawing or design and have creative capabilities, you could make serious money by helping companies to create logos and brand assets to use across their online sales channels.
In either case, you’ll need to invest in the right software packages to provide the services that clients require.
5. Dog Walking
If you love dogs and don’t mind spending time outdoors, dog walking could be the answer to your self-employment prayers. Busy professionals often don’t have time to walk their pooches during the day, but you could keep man’s best friend happy and healthy by giving them a regular run out.
Aside from the obvious equipment such as walking boots, dog treats and lead holders, it’s worth thinking about taking out pet business insurance in case anything goes wrong whilst you’re on the job. Dog walking can be incredibly lucrative, but it’s important to always remember that you’re being entrusted with the care of what many people consider to be a furry member of their family.
6. Upcycling
Shabby chic styles have taken off in a big way over the past few years. From reclaimed furniture to vintage clothing, people are keen to get that aged look yet don’t want to sacrifice any of their modern conveniences. By picking up items at an antiques shop or purchasing them from reselling sites, you could start flipping furniture and selling on coveted clothing from yesteryear.
The key investment here will be in stock and your refurbishment tools. For furniture, this may be sandpaper and paint, whilst for clothes you might well need to get sewing to repair older clothes before putting them on the market.
Getting started
Even though these business ideas don’t require much of a capital injection, you’re likely to still need some money to get started. £100 may not be a lot, but these are trying times and not everyone can afford to put down good money into a venture that may not pay off.
If that sounds like a familiar challenge, a £1000 loan could be exactly what you need to get your business up and running. Fortunately, there are many direct lenders who are willing to offer a hundred pounds to cash strapped borrowers, and the money can often be used for whatever you like – including starting a business.
Whether you want to start selling upcycled furniture or have a penchant for social media management, starting a business could be your route to the life you’ve always dreamed of. With these cheap business ideas, it might even be that you can get going for less than the cost of a weekly grocery shop!
