Business is a broad term that encomes a wide range of activities and organizations involved in producing, selling, and providing goods or services to meet the needs of customers and make a profit.
It is a broad and dynamic field, and the specific details can vary widely depending on the industry, location, and size of the company. Successful businesses often require careful planning, effective management, and adaptation to changing market conditions.
Starting a business with a minimal capital investment of under 1 lakh rupees can be challenging, but it’s not impossible. Here are some business ideas that require relatively low initial investment:
Freelance Services: If you have skills in writing, graphic design, web development, social media management, or any other service, you can offer your services as a freelancer. All you need is a computer and an internet connection.
Tutoring: If you’re knowledgeable in a particular subject, you can offer tutoring services. You might need to invest in study materials and your services, but the initial investment is low.
Dropshipping: Start an online store and partner with suppliers who will ship products directly to your customers. You don’t need to hold inventory, which keeps your initial investment low.
Content Creation: If you have a ion for creating content, start a YouTube channel, blog, or a podcast. While it may take time to monetize, the initial investment is minimal.
Handmade Crafts: If you’re crafty, consider making and selling handmade items, such as jewelry, candles, or clothing. You can start by selling your products on platforms like Etsy.
Event Planning: If you’re organized and good at planning, you can start an event planning business. You may need to invest in basic event planning tools, but it’s relatively low-cost to start.
Pet Sitting/Dog Walking: If you love animals, you can offer pet sitting or dog walking services in your local area. You’ll need minimal equipment and can start small.
Home-Based Food Business: In many places, you can start a home-based food business, like catering, baking, or selling homemade snacks. Ensure you comply with local food safety regulations.
Cleaning Services: Start a cleaning service for homes or businesses. You’ll need cleaning supplies and equipment, but it’s a low-cost business to start.
Digital Marketing Agency: If you have digital marketing skills, offer your services to small businesses looking to improve their online presence. You’ll need a computer and software tools.
Freelance Photography: If you have photography skills and a good camera, you can start a freelance photography business for events, portraits, or product photography.
Online Coaching/Consulting: Offer coaching or consulting services in an area where you have expertise. This can be done via video calls or online courses.
Mobile Repair Service: If you’re skilled in repairing mobile phones, you can offer mobile repair services. Invest in the necessary tools and equipment.
Reselling Products: Buy and resell products online, such as second-hand electronics, clothing, or collectibles. You can start with a small inventory and expand over time.
Social Media Management: Offer social media management services to businesses looking to improve their online presence. You’ll need internet access and social media management tools.
These business ideas have low initial capital requirements, success often depends on factors like your skills, dedication, and the local market demand. Additionally, it’s important to research and comply with any legal and regulatory requirements in your area, such as business licenses and permits.