Low-Cost Business Ideas In 2021

For most people with an entrepreneurial spirit, the main reason they don’t get to implement their business ideas is because of the high amount of money needed to start a business. 2020 was a year when business didn’t do well due to the coronavirus pandemic. 2021 gives you a fresh start, and you can think of getting the wheel rolling. There are many businesses you can start today with little or no funding. All you need is dedication and some old-fashioned hard work. In this article, we will discuss low-cost business ideas you can start in 2021. 

Personal or Virtual Assistant

People with excellent organizational skills are in high demand in 2021. Companies are looking for such people to help grow their business and carry out high-return tasks. A virtual or personal assistant performs many of those front-desk or secretarial functions without being present physically. Such people often work remotely for different clients, making flight arrangements, keeping track of calendars, and doing clerical work. 

Content Creation

Social media has created a perfect platform for creative professionals to make money. Professionals like graphic designers and writers can use their skills to develop high-quality content for media and business outlets. Given the improving global economy, it is easier to market yourself as a professional content creator. This is a business you can start with almost no capital. 

Concierge/Errand Service

Balancing professional responsibilities and taking care of children makes working parents extremely busy. They hardly find time to take care of personal errands like filing tax returns, grocery shopping, or mailing packages. As a good entrepreneur, you should think of tapping this business opportunity. Take care of such time-consuming errands for your clients to help them free up time for the essential things in life. With this kind of business, you need to be cautious about travel expenses when determining your rates. You can either charge hourly or by your task. 

Event Planning Services

If you are a detail-oriented and highly organized person that loves setting up parties, you might be a successful event planner. Those are the perfect traits for an event planning business. Working for birthday parties, weddings, and get-togethers, event planners make it easier to host such parties. There are so many ways to be creative with events; Photobooths, Unique Game Rentals, Fun Foods, Interactive Stations, Pop Events that provide “Instagramable” Moments.

If you don’t have significant experience in planning events, you can get started by planning several pro bono events. Use cold calling and platforms like LinkedIn to build up a reliable database of contacts and vendors. As much as it might be easy at the start, consistency will get you across the line. To stand out from other similar businesses, pick a unique name for your brand. If you are having challenges finding the best name for your brand, consider using websites such as Helpfull.com to conduct surveys on preferred suggestions of brand names based on your target customers.

Professional Reviewer

Believe it or not, this can be a very lucrative business in 2021. Given the financial challenges many companies faced in 2020, they will want good reviews to get their businesses back on track. Many companies provide products to people so that they can positively review the company. As much as most companies want positive reviews, it shouldn’t be an exaggerated one—honesty is valued in company reviews. You can charge per review or per hour. This is an exciting venture because you get to try things such as reading new books, experimenting with the latest technology, among others. All these exciting things will get you paid! 

Online Courses and Tutoring

Are you passionate about anything? Web design? Baking? Yoga? If you are so good at something, you can help improve the skills of others by offering virtual classes. You can schedule real-time Skype lessons with clients or create downloadable instructional videos. Another lucrative idea for aspiring teachers is starting a home-based or virtual tutoring service. 

Social Media Consultant

Due to various lockdown restrictions, most companies are shifting to social media to provide services. They hire an agency or experienced personnel to run their social media pages. However, small businesses have to take care of their own social media marketing. Business owners have so many responsibilities and may be too busy to implement a great social media strategy. Being a social media consultant, you can help such businesses get going on social media. Help them determine the best posting schedules and the ideal content to post for their target audience. You can charge hourly rates or per task completed. 

Software Training

Are you good at software programming? In 2021, there is a growing demand for such individuals. Both amateurs and professionals are looking to expand their knowledge in software programming. There are technical manuals for programs like Final Cut Pro and QuickBooks, but these can be very complicated and expensive for an ordinary user. Schedule private sessions and small group workshops, and charge hourly rates for your tutoring program. This business venture needs you to be patient and have a great personality.

Conclusion

Now that you know some of the businesses you can start with little or no capital, it is time you considered implementing your business idea. 2021 looks more promising in terms of financial stability; take advantage and start your business today!

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