First, the coronavirus disease that originated in China started its spread worldwide and soon was declared a pandemic. We lost our freedom to go outside and mingle with our friends lest we catch the illness.
The healthcare industry was put under tremendous pressure and now has to practice triage to cater to the most vulnerable patients. Then this deadly virus attacked our economy and brought the entire world down to its knees. People began losing their jobs left and right, with their savings quickly depleting and the fear of going hungry looming near.
All of us have been affected by the year 2020. With a large part of the workforce being laid off and an even larger part under the threat of being dealt with similarly, the smart thing to do right now is racking your brain for low budget business ideas. Investing your savings smartly in this crucial time can make or break your future right now.
Starting A New Business is Super Challenging Right Now! – Or Is It?
But with the restrictions that governments and the pandemic have imposed on us, there are not a lot of feasible and workable ideas for low budget business.
After all, most of us are stuck at home, not able to gather in large groups, and do not have a ton of capital to invest in a big business idea in the first place. How are you supposed to build an empire with these limited resources and high stakes?
If these are the questions that have been holding you back from starting your own venture and being self-sufficient, don’t worry! I am here to help you create a startup of your own that will be bringing home bags of money in no time.
Here are 5 low budget online business ideas that you could make work in 2020.
1. Copy Writing Services
Have you ever paused to think who writes up those product descriptions on the website of every online store?
While you may assume this is done by professional advertisement writers sitting in the company’s offices, that is not always the case. In fact, most often these ads have been written by freelance copywriters from the comfort of their own homes!
Besides, content and copywriters are always in high demand by brands worldwide looking to increase their sales. Now more so than ever with more and more brands entering the arena of the World Wide Web.
To begin your copywriting career, you need no ridiculous investment. Simply register yourself at a freelancing website such as Upwork or Fiverr, build up your profile, and you will be getting orders in no time.
2. Stock Photography
Not everybody is born to be a writer, and some may find it much more difficult than others. After all, there must be a reason why companies will not hand over their ad writing projects to just anyone who can put two sentences together. However, this does not mean that you can’t do something equally creative and lucrative.
If you love to capture photographs, maybe you should consider starting a stock photography business. Just like content writing, this is something that requires next to none investment and can often be easily done while staying quarantined inside your home.
Just click a few interesting pictures, submit them to a stock photography website, and let the royalties rain down on you every time somebody downloads the image.
3. Home-Based Culinary Services
Selling homemade food could be another very lucrative business in 2020 that does not require huge capital to begin. If you are talented in the kitchen, make full use of these skills and start preparing homemade food for the community.
The pandemic has largely cut us off from other people, and many restaurants have shut down. In addition to this, a large part of the population has taken to healthy eating and would rather choose homemade, healthy meals over food prepared in a restaurant kitchen.
Take advantage of the situation and start offering home-based catering services to the community. This low budget online business has tremendous potential and could pay off very well.
4. Social Media Management
Do you have a knack for writing social media posts? Then why don’t you make the most of it by becoming a social media manager?
It is no secret that being active on social media can get companies a huge spike in their sales opportunities. But did you know that it was a humongous 45%! Because of these crazy statistics, brands are putting emphasis on high social network activity more than ever.
But most people employed at these big businesses have more than enough on their plate already. Deciding what to put on Instagram and following the comments that the public makes on these posts was not in their job descriptions. So, what do they do? They hire social media managers.
Now, this is an endeavour that only asks for time and enthusiasm. And if you have enough of that, you can surely build up a social media management business of your own! All you must do is set up a business website and hire friends, family, or freelancers as initial staff. You can then start sending proposals to all the big brands and see your own business grow without putting in too much money.