STARTING BUSINESS WITH LITTLE CAPITAL

Many  research works found that, when unemployment is high, the number of sole proprietorships goes up. Some people who are laid off from their jobs decide to start small business.

If you find yourself in such circumstances -out of a job and thinking about starting a bussiness- chances are you won't have much money to start up with.

So here are some of businesses that require little startup capital. In many cases they can be run out of a home office. Most require minimal equipment beyond a computer, phone, printer, a few tools, and perhaps your car or struck. You won't need advance degree or highly specialized training beyond what you may already have or can learn on the job.

·         Consulting for your former employer or in your old industry.

Just because your former employer downsized doesn't mean all the work you used to do dissapeared miraculously. Stories are legion about employers rehiring as consultants the very people who used to work for them as employees. Don't underestimate the value of your skills on the open market. Use your industry contacts, online networking andfreelance market places to find opportunities. 
 

·         Web business

Publishing ad-supported content websites; affiliate marketing; SEO consulting; ecommerce sites; and eBay sales are just some examples of web-based businesses that growing numbers of enterpreneurs thrive at.

·         Virtual assistant

With so many people working virtually, and the volume of email and other correspondence growing, the need for virtual assistants will grow.

·         Online social media consulting; online content production

To say that social media has exploded in the past year is an understatement. But social media, and the content that goes along with it, is time consuming for many businesses—they will need help.

·         Convenience services for consumers

As we come out of the recession and pocketbooks open up again, the little conveniences (think 'dog walking' or 'house cleaning' or 'gourmet coffee') are affordable luxuries that consumers look for.

·         Kids products or services

Success in this type of business depends much on culture of the clients. You have to be aware of what services and/or products that are highly needed by the kids and at what quality and quantity. Some kids like manual produced products than industrial manufactured ones and vice versa.

                               

·         Specialty foods

Consumers are more health and wellness conscious today, driving demand for specialty foods (example: gluten-free backed goods). Do check into FDA and state inspection/licensing requirements for food businesses.

·         Landscaping and handyman services

Homeowners and businesses seem to always need help keeping up  their premises. Handyman and landscaping businesses are relatively easy to start. Now (before the weather breaks) is the time to get started marketing through flyers and door to door visits.

·         Mobile apps development and mobile consulting

There are four times the number of cell phones in the world versus computer (4 Billion vs 1 Billion) and a reasonable percent of all house holds are mobile only (20% of all U.S households example). Businesses are jumping on the mobile marketing bandwagon and will need help to navigate the road and reach their target customers.
As always when starting any business, do your due diligence. Research the business and your market to make sure there is demand. Write a business plan down on a paper to force you to think of issues you might have overlooked.
Also, if you are receiving unemployment benefits, first check with your local unemployment bureau. When you start earning money from your new business, it could make you ineligible to continue receiving unemployment assistance. Check into any state or local business licenses required too, for a business.But assuming you've done your homework, the above list can trigger ideas for what could become the next stage of your career-Your own business.