August 1, 2017 in Smart Money

Be your own boss: 6 low-cost ideas for a small business

Anything is possible with a can-do attitude and hard work, including becoming your own boss. You may feel as if there are countless hurdles preventing you from starting a small business, including a lack of investment money, insufficient knowledge of modern technology, or even the fear of severing ties with your employer. But there are plenty of ways to take the first steps toward launching your own business.

For many people, the biggest obstacle to starting a new business is raising the money. With a solid business plan and a good credit history, you probably can raise the funds you need to get started. But if you have to rely on your savings, you may have less money than you need. Fortunately, there are plenty of business opportunities that require an initial investment of less than $2,000.

The U.S. Small Business Administration has useful information on registering your business, applying for business licenses and other information to help you make your dream a reality.

A new business doesn’t have to be groundbreaking. If you’re computer-oriented, you could start with:

EBay selling

Many people with a computer and a house full of clutter have used eBay to get rid of unwanted stuff. If you already know your way around eBay, it takes only a small step to create your own  eBay shop. The process is relatively straightforward, with only a few requirements:

If you want to start a low-tech business, there are several options to consider. Providing basic, reliable services is a great, low-cost way to get your company off the ground. Consider these possibilities:

Use Bankrate’s calculator to figure your monthly payments for a small business loan to expand your operations.