Businesses you could start in 2018 for under £5K
by Startacus Admin
Most budding entrepreneurs have big dreams, but big dreams can often require big finances to support them. However, highly technical startups aside, many solopreneurs and self-employed folk start and grow small businesses with limited finance (sometimes known as bootstrapping your business) and by making sure that only essential pre-launch business costs, such as business website, website hosting costs, business cards, business insurance, are covered. A snazzy office location and the latest macbook can wait after all!
With this in mind, here are a few businesses you could launch at the start of 2018 and most often or not, for under £5k too!
Affiliate or Drop-shipping
You can start an affiliate website. You profit by affiliating with a company that’ll pay you each time a user buys something from them via a link on your site. With each purchase through your site, you get paid a commission.Drop-shipping bears similarities to Affiliate but in its case, the shopper/user stays on your website. You also control the buying process via your website and the profitability is way higher than Affiliate. Our explainer on Drop Shipping might help too.
Virtual store
Instead of all the expenses that come with opening a physical store, you could simply open a virtual store. You can build an ecommerce site for free using platforms like WooCommerce or Shopify and sell any product you have.Cleaning company or laundry service
This is one niche that’s always in demand. With less that 5k, you can start one up and it can be really profitable as long you are providing distinguished and impressive services.
IT support
If you’ve got the skills, open an IT Support firm. More people own more advanced technology but very few of them actually know how to use it. Asides from the actual support, you can also provide training services.
Blogger
TechCrunch is a blog that started as a hobby. It was sold not long ago for about $25m. Pick a niche you possess great insight about and start a blog concerning it. If you are dedicated, your popularity will soar and you can utilise your blog in several ways to make cool cash.
Freelance Copywriter
Websites always require content and you can be the provider of that content for a fee. The more popular and reputable you become within the field, the more you stand to earn.
Fitness Expert
You could start your own fitness studio but that will definitely cost you more. Instead, you could create a YouTube channel or effectively market your abilities and competence via social media.
Photographer or Videographer
A solid camera will cost less than £5K and all you’ll need to do from there is market your services. Certain professional photographers are taking the business further with drone photography.
Start an agency
You can run an online agency that delivers web design, SEO services, paid search services, and much more. You don’t even need to have the required skills as you can outsource to those who do.
Buy and sell domains
It’s an easy business that can fetch huge returns as long as you know the sort of domains to look out for.
Other low cost business or self-employment options you can look into include developing and flipping apps, Makeup artist, Massage therapist, and interior decorating/designing.
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Published on: 5th October 2017
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