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8 Low-Cost Businesses You Can Kick Start in 2020

The emergence of technology and fast-paced life have given rise to various businesses that require minimal cost and promise good revenues
BY Jaspreet Kaur
Feature Writer, BusinessEx
Sep 12,2020

There are many people who wish to become entrepreneurs and start their own ventures. However, business complexities and capital infusion involved become reasons as to why aspiring entrepreneurs give away their dreams. The emergence of technology and fast-paced life have given rise to various businesses that require minimal cost and promise good revenues. 

If you are looking for low-cost business ideas, then here is a list of the most profitable small businesses. These businesses require little or no capital infusion and will give good returns.

Content Creator 

In the digitised world, people are consuming more content than ever before. The consumed content is divided into various forms like written, oral and visuals. It is created by graphic designers, as well as writers, who have proficiency in content creation.  

You become a content creator then you can share the content with other companies and media agencies, in turn, earn a hefty amount. Presently, there is a surging gig market that enables freelancers and content creators to earn a decent living, thus, become a part of it and start earning.

Virtual Assistant 

In the virtual realm, there are a plethora of jobs that can be taken easily. One such role is of virtual assistant; in this, an individual has to have average organisational skills. This role does not require small business management. Entrepreneurs, today, require a virtual assistant who can easily grasp things and work effectively while working remotely. 

A virtual assistant essentially carries out responsibilities of a secretary without physically present in the office. By taking this role, you can work for multiple clientele or organisations at your convenience, in turn, increase income substantially.

Reviewer 

In this age of online shopping, people are highly observant and procure things after immense scrutinisation. They look for more reviews before buying any commodity like books, clothes and devices. You can take this opportunity and become a pro reviewer. You can look for companies that are launching new products and technology, and ask them to let you review their product. 

By giving an honest review, the company can make suitable changes into the product. In this manner, you can earn money and offer this service to other companies as well entrepreneurs.

Social Media Manager 

Social media plays an important role in creating a brand or company's online presence. It gives recognition, creates potential customers and helps stay connected with existing customers. A company can also share its knowledge with the customers. 

Big companies generally have full-time professionals to handle their social media accounts whilst small firms do not have any. After learning digital marketing strategies, you can offer services to small companies, in turn, strengthening their online presence on virtual platforms and social media networking sites. While handling various social media handles, you would not require small business management.

Online Tutor

If you are good in certain activities like teaching, web designing, cooking or baking, then you can start online classes at your convenience. It is one of the best low-cost business ideas. You can share your knowledge and experience with others by offering virtual classes. 

For that, you can create online course books and other materials. Besides this, you can offer classes on Zoom and Skype as well. Teaching and resolving students’ problems can only be possible through video conferences. Thus, make use of virtual classrooms and enhance your teaching experience. 

Professional Bookkeeper 

If you have earned a bachelor’s degree in commerce or have experience in auditing, then you can offer bookkeeping services. You can approach various companies and ask if they require an outsourced bookkeeping service. While offering the bookkeeping services, you would have to manage accounting software and filing systems, create and maintain balance sheets, record financial statements and carry out payrolls. 

Blogger 

If you possess a great knowledge about some subject and want to share with others, then blogging is one of the most profitable small business ideas. For this, you would require to have a website and create blogs on multiple topics. 

Besides this, you can become a vlogger as well. To become one, you need to be comfortable in front of a camera and should have a professional camera. Similar to writing, you can create vlogs on different topics and educate people. 

Affiliate Marketing 

It is an effective business that you can do along with other low-cost business ideas. To do this, you would require to have a website wherein you promote products or write blogs. You have to popularise the website by bringing more users and then, start affiliate marketing. 

The above-cited business ideas require less investment and energy. They are one of the most profitable small business ideas and can help you earn profits easily. Select one amongst them and start your entrepreneurial voyage.

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