Are you keen on starting your own business from home but struggling to come up with an idea with low risk? Or you want to get over the level of risk involved in the startup costs. If you want to be an entrepreneur and start a cheap business from home, here are the 5 cheapest businesses to start from home in the UK.
1. Dropshipping
You can set up an online store and partner with suppliers to sell their products. You don’t need to hold inventory, and there are low start-up costs. If you are looking for a low-cost business, dropshipping is a worthy idea and its worth has increased in the last few years to a great extent. The only thing you need to focus on is choosing the right products, maintaining profit margins, and choosing the right supplier. In addition, you can start an e-commerce store and sell products online even without the need to handle inventory and fulfilment.
2. Freelance Writing
If you have excellent writing skills, you can offer your services as a freelance writer to various clients online. If you are a web designer, you can find authentic web design clients here. You can start a freelance writing business by building a strong portfolio that showcases your writing skills, start pitching your potential clients, starting your own blog, scouring job boards, and gradually you can turn this side hustle into a small business. Freelance writing is one of the most comprehensive pivots that allows you to opt for a successful career and make money.
3. Virtual Assistant
You can offer administrative services to businesses, individuals or entrepreneurs. 4. Social Media Manager – You can manage social media accounts for businesses or individuals. Virtual assistance helps companies with tasks in remote locations. In other words, you can provide services to clients daily as a self-employed or a contractor. Mostly, virtual assistance works at an hourly rate or upon completion of tasks. Additionally, you can charge monthly rates as well. However, income can depend on the skills and services you offer.
4. Social Media Manager
You can manage social media accounts for businesses or individuals. Social media management is easy to start with little capital and helps in making a decent profit. It has become a powerful marketing tool for businesses and its demand has increased to a great extent. The first thing you need to do is market research, then create a business plan and understand legal requirements. Then, you can move forward with branding and marketing by using effective tools and resources.
5. Online Tutoring
You can offer tutoring services remotely from home to students using platforms such as Zoom or Skype. These are just a few ideas to consider, but it’s important to thoroughly research any potential business venture to ensure it’s feasible and meets legal requirements. For online tutoring, you need to have good educational background and certification and set up an online device to teach in an online classroom. Moreover, you need to arrange online teaching tools and decide on the subject that you have skills in. Then register yourself as a teacher on online teaching sites, get verification, and approval of your profile, and finally, you can start teaching online.
Summing up
Whatever business you choose to launch, you need to have clarity of the purpose you want to achieve. On top of that, you need to research particular needs that your business can fulfil and win the competition. The right planning can even help the cheapest business to start from home and earn money with little or no investment.