5 Low-Cost Business Ideas to Start in 2020


IDNBC.COM - Thinking about starting a business in 2020 but do not have a sufficient budget? Well, these business ideas might become a good solution you can take.

Not only easy to start but the businesses also require little money, if not zero. Here are 5 low-cost business ideas to start, and of course, profitable.

#1. Etsy Shop Owner

It can be said that Etsy is one of the most famous online marketplaces you can find today. 

It is now estimated that Etsy has been used by thousands of at-home retailers and bigger productions. 

They include highly-rated retailers that sell various products such as DIY merchandise, patches, and jewelry. 

Additionally, starting a business through Etsy is also affordable. 

There will be no payment required to join the website and start your own shop. 

However, you need to be aware of selling fees required that include payment-processing fees, transaction and listing. 

This will not be a big deal if your business has been started since you will be able to pay for the selling fees needed.

#2. Content Creation

It can’t be denied that big social media platforms have attracted many people to earn money by becoming a content creator. 

This is a profitable business that only requires a small budget and relatively easy to do. 

With a 24-hour news cycle, you can use your talent to make content creation. 

You can become a graphic designer or content writer. 

This will provide you with the best way to use your talent to make shareable and high-quality content for various purposes, including media outlets and business. 

By becoming a contract or freelance writer, you will be able to market yourself as a professional service provider and make money from it.

#3. Online Tutoring and Courses

What do you like the most? Cooking? Yoga? Well, why not turn your passion into a business? 

This can be one of the low-cost business ideas to start this year. 

When you know something very well and like it so much, you can help other people with the same passion to enrich their lives by offering online classes. 

You can do it by creating instructional videos that can be downloaded by others and make money from it. 

As an alternative, you can create a schedule to give a tutorial for your clients through real-time Skype. 

This will be a fun thing to do, doing your hobby as well as gaining income from it.

#4. Translation Service

So, are you good at foreign languages? Offering translation services for the online client can be a profitable business you can choose. 

Not only requires almost no-budget but you can also do it at home just after doing your chores. 

Just start your own translation service business and market yourself to conference centers, courtrooms, schools, and even hospitals.

#5. Event Planner

If you are a kind of detailed-oriented and highly organized person, providing event planning services might become an ideal business option to start. 

You can work for weddings, class reunions, or birthday parties, and use your talent to make money. 

This can be one of the best low-cost business ideas to start and provide you with additional income.