5 great low-cost businesses you can start today

If you’ve always wanted to be your own boss but have yet to take the plunge, now’s a great time to get your feet wet – especially if you have skills that can be put to good use. Here are five great low-cost businesses you can start right away.

low-cost-business

1. Accounting services

It’s a well‐known fact that bookkeeping is a chore for many business owners. That’s good news if you’re an independent accountant – despite the proliferation of accounting software, small businesses often need help with their accounts and prefer to outsorce their bookkeeping work. If you are good at financial housekeeping and skilled at using accounting and spreadsheet software, it’s worth putting your skills to use. Start‐up costs are minimal and it’s easy to get started – when you’re ready, check out a one-stop registration service like DBS’ Get Set to get up and running in a snap.

2. Cleaning services

Cleaning services are always in demand, especially by busy professionals who prefer outsourcing their household chores to a cleaner to hiring a live‐in helper. If you’re going solo, it’s possible to get a small cleaning business off the ground quickly and make a good profit. Among the first things you’ll have to do are investing in cleaning supplies, thinking about transport options, developing a menu of services and prices, and getting a business bank account set up. Be sure to offer digital payment services, such as DBS PayNow, to make things more convenient for your customers.

3. Editorial services

If you have a way with words, think about starting a small copywriting business. It’s possible to run an editorial services company on a shoestring budget – all you really need is a computer, and you don’t need to run a physical office. To help you keep track of your projects, invest in good work‐management software such as as Asana if you’re looking for a great way to organize and manage your team’s work; Zoho Projects if you need a platform that tracks progress with detailed reports; or Evernote Business, if you prefer an option which has a social networking element to it.

4. Coaching

Whether you’re a gifted musician, math whiz or sports aficionado, think about coaching as a business option. Coaching is a great choice if you have a proven track record in a particular area, and if you enjoy imparting your skills to others. Be sure to set up a great website to market your services and share your experience and credentials; make it a point to also get listed on online directories so prospective students can get in touch with you easily.

5. Independent consulting services

Becoming an independent consultant is a good option if you’ve shored up years of experience in a niche industry. Whether you’re a veteran in the HR, maritime, technology,or media industry, it could just be time to put all that specialized knowledge to good use. Think about the services you plan to offer and how to structure your work – whether you plan to work on a retainer or a per‐project basis, for example. As with other small businesses, great work‐management software is essential to help you keep track of your assignments.

Starting a new business today? DBS’ Get Set is a one-stop registration service that can help you hit the ground running.


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