There was a time when in order to do a start-up, you had to rush to your bank manager, have a unique selling product and try to grab some real clients, persuading them to buy the same. That was the time when email, CRM software, social media platforms, internet, marketing automation, etc., were not into existence, which are now a part of our personal and corporate lives.
Gone are those days when you had to spend a great deal to start a business. Nowadays, you just have to have a smart business plan with an uninterrupted internet connection. Expenditure is not a factor to worry about anymore. In this content, we will cover the best start-up business ideas that require minimum investment in the UK.
So, what could be those low investment business ideas? Let’s check that out…
1. Bookkeeping Services
This is something for which you will not have to be highly qualified. If you are good at doing lengthy calculations, then you must give bookkeeping services a first try as an attempt to start a small business in the UK. There are many free tools and premium accountancy plans available on the internet. Check out some of the most renowned ones like GnuCash, Bench, cloud-based Wave Accounting, Expensify, etc.
2. Virtual Assistant
This is one such startup business for which you have to do the minimal investment, that too when you get a client. Suppose you decided to follow the field of content writing as your career option. For that, you opened accounts on platforms like upwork freelancers.com, etc. There, after you sign a deal or contract with a client that approaches to work with you, fix rates and number of hours (as per your convenience), you will have to pay a certain amount of commission (after you get paid) to the platform through which you got the project and the client. Though it is not that glamorous or permanent business unless you have already made a good name in this domain, it is a lucrative career opportunity.
3. Courier Business
This is again a decent business where you only have to pay for the conveyance cost, that too if you don’t have your personal vehicle. Else, you can adhere to the major courier cum carrier services like FedEx, DHL, Blue Dart Express, etc., to send the parcels to the required destinations.
4. Coffee Shop
You can begin your personal coffee shop like Starbucks, Costa Coffee, etc. This is a good idea for a small business startup in the UK. Based on small investment, you can hire or buy a portable van to run your coffee shop; its set-up cost is less compared to opening your own coffee shop by taking a store on rent. Coffee shop is a place that never stays unoccupied. You will always get customers incoming whether it is for a short term coffee visit or long official meetings. But, make sure to open your coffee shop in a popular spot with a soothing ambiance that grabs attention.
5. Car Washing Businesses
You can set up a mini car washing business in your old garage or in the entrances of car parking lots. The good thing about this business is a low budget requirement as your only expenditure lies on the washing detergents, available water supply, and space taken on lease. Last but not the least, a license might also be required from the council to start the business. However, the general overheads including staff, etc., are basically low.
6. Catering Services
Opening a small catering service in the UK is yet another lucrative and low cost investment business. You can start it at the comfort of your home or can take a small premise on lease. Birthdays, anniversaries, office parties, festive parties, etc. are always there to celebrate throughout the year. So, you will probably not have to sit ideal to get catering orders once in a while. Plus, it is a decent money-making and creative business to get started with minimal investment in the UK. Before that, make sure to acquire an authorized hygiene, and health and safety certificates, as customers may like to cross check your genuinity before giving you a big order.
7. Online Marketplace
Work from home is the dream of almost everyone. If you have a fair knowledge of how to market products and ideas through online lead(customers) generation, then setting a personal online marketplace won’t be a big deal for you. All you have to have is an uninterrupted internet connection. If your business stands right, you may get the opportunity to advertise your products to other websites which in turn will generate revenue. You can also begin your personal blog or vlog page or learn coding; these might guide you in understanding how to generate visitors to visit your blog page, how and when promote products online, etc.
The good part about establishing an internet based business is its low entry cost requirement. You just need a website for which you have to buy a domain hosting and a good internet connection. These two things will be the primary costs of your business. The next is you need products (some really uniquely attractive products) that might make the visitors stay on your page for longer and eventually buy it. Of course, you will have to create online account/s for payment transactions from the buyers. PayPal is currently the most relied on payment app that deducts only a little commission (as a security cost) from your account, after each payment you receive from the buyer.
Well, these are some of the many occupations that you may start-up in the UK with a very minimal budget. If you have good knowledge of flowers and horticulture, then a gardening business might be your ultimate dream job. Fast food delivery is another thing that has a never-ending requirement across the globe. Plus, neither of these two occupations require a handsome amount of capital to invest in for a start-up, as it is only you and one of two staffers (at maximum) to help you in these.