Career
Pathways
Low Cost Online Businesses
As the economy begins to pick up, incomes are beginning to increase. However, for many, cash flows and capital still remain tight. New ways of doing business have made starting up your own business much more affordable in the past, as fixed costs may be eliminated or reduced and advanced search engine optimization techniques reduce costs of promotion.
Which Business can be set up with Low Capital?
The following businesses are typical examples of businesses that may be set up at low costs and easily marketed and promoted over the Internet:
Online Retail Stores. These can stock any product that consumers find it convenient to shop online for, including books and DVDs. Owners do not even have to maintain warehouses for inventory. Rather it can be ordered as needed from external suppliers and shipped to customers. This reduces inventory carrying costs, and minimizes the chances of storing obsolete inventory.
2. Localization and other online writing services. Since there is essentially no product involved, there are no manufacturing costs associated with this enterprise too. While it is possible that other workers may need to be recruited if the volume of business increases, they too can operate from their own homes and communicate with you or the clients over the Internet on a freelance basis. This will eliminate the costs of setting up offices and even save salary expenses.
3. Accounting, auditing and tax preparation. These by their very nature are low-overhead operations, and operating over the Internet can further help to reduce the costs of setting up an elaborate physical presence.
4. Consultation services. Little or no capital is required to set up a consultation firm online, not counting the costs of marketing and promotion. The only costs incurred would occur if workers are employed to provide assistance with the consultation.
