10 Best Low Cost Small Business Ideas To Make Money

COVID-19 pandemic has had a large impact on the whole economy of the world, especially small start up business and small business ideas, which are more unstable and have more risk of being shut down temporarily or forever. However, American Express OPEN Small Business Monitor indicates that 81% of small start up business owners claim that they are happy to be new business founders.

The main reasons leading to this result is that most new business owners feel optimistic about their business even though the future is insecure due to COVID-19 pandemic. They usually feel they should run their business as soon as possible and Vietnam is one of the best places to start a business. That means that it’s always the best time to start your own new business.

So what are the benefits of owning a business? How to come up with best business ideas with low investment? Let’s find out!

4 Benefits of Owning a Business

When it comes to owning a small start up business or new business, there are many issues that you have to deal with. Nevertheless, the benefits that you achieve would be definitely invaluable.

Flexibility

It is illustrated that 77% of Generation Y want to have a flexible working schedule, according to Bentley University, which would allow them to gain comfortable working environments and increase productivity. All startup ideas with low capital business would not make people feel bored about their businesses.

Flexibility while running a new business could enable individuals to have more spare time to raise their child or take care of their families. In addition, business owners do not have to go to the offices, they can work anywhere they want, such as home or coffee shops.

Control

It is obvious that when we begin new business with brilliant business ideas, we would have more confidence with our work because we are aware of how our businesses operate, what we do and what we want. 

It means that when we run our business, everything appears to be under our control. We can see what is going on with our employees and small business products. It’s satisfying when we know how well your business is doing, right?

Independence

As mentioned above, when we begin a small start up business, we can do whatever we want, as long as it positively affects our business. We are our own bosses and wouldn’t have to depend on others and having independence is what young people are looking for in working environments now.

Opportunities of Learning

When we work for a certain company as an employee, we only focus on one aspect and don’t know how other aspects are operated. However, when we run a small start up business, it is our responsibility to take care of every different aspect of the business, which would give us many learning opportunities related to human resources, financial management, marketing, etc.

10 Business Ideas You Can Start Now!

Still not sure how to start a new business with low investment? The list below could help you seize some small investment opportunities, especially in Vietnam in 2021:

Online Clothes Stores

Young people these days are getting used to social media and online shopping. It’s time to consider launching an online clothes store to generate income. This type of small start up business is one of the best business ideas with low investment. If you have a proper marketing strategy, your online new business could be very successful.

Pet Shops

Many young people in Vietnam have pets and there is a need for items for their pets. You could launch a small start up business with simple items such as clothes, foods or accessories.

Decorating Items

A nicely-decorated room is what many people are looking for, especially when they have to work from home for such a long time. According to the EU-Vietnam Business Network, the home decor and furniture industry in Vietnam will be growing rapidly. If you want to start a low capital business, this is what you need.

Homemade Items

Homemade items are quite popular on some ecommerce channels such as Shopee, Lazada or Tiki. You can launch your business with low-cost materials and turn it into valuable items to create profits.

Hygiene Products

The COVID-19 pandemic is not over yet, that’s why the demand for hygiene products is extremely high. This business idea doesn’t require you too much time or effort, you can import some simple products first like hand sanitizers, soap and upload them on your ecommerce channels. 

Accessories Shop

These small business products should be taken into consideration due to the fact that they just require you to prepare a low capital business, but the revenue that you have would be very great.

Baby Items

Items for baby are usually necessary commodity, so beginning a new business with startup ideas of selling baby items might be profitable.

Packaged Food

Many individuals have to work from home owing to the COVID-19 pandemic. Euromonitor International indicates that social distancing and closures of restaurants have sparked a surge in online grocery shopping, some packaged food is consumed very fast.

Beauty Products

Launching a new business of beauty products might not be a business idea with low investment. However, if you know how to survey the market, operate good marketing strategies, you would earn a lot of money from one of the brilliant business ideas.

Fitness Items

People tend to do exercise at home more when they can’t go to the gym. Seize this opportunity fast with some low cost items to be more profitable in the future.

Overall, the best time to run your own business is as soon as possible and you should diversify your channels to optimize your profit. To help sellers manage your selling online channels, Ginee was introduced to many areas with a view to optimize your business efficiency.

Small Business Ideas but Great Profit? Ginee is what you need!

Ginee Vietnam is an omnichannel that enables online sellers to launch the online business, even though it is just small business ideas. Thanks to Ginee, sellers can make a great profit due to the reduction of unnecessary expenses.

Ginee is the key to helping you run your new business with your brilliant business ideas. Ginee will help you manage your products, inventory, delivery and cash flow. Don’t hesitate to try Ginee now with the Trial version.