15 Small business and passive income generating ideas with little or no investment
Dream big. Everything starts as a small. It’s always nice to know that you’re not alone! We have made a list of small business ideas without investment, or with minimal investment requirements which you can start today to earn small income. It can be either as main business to scale up or to generate passive income for your family.
1. Online tutoring
It’s a nice opportunity for students or people who have free time to spend apart from job. But you need to have good domain knowledge and better understanding of the concept in which you are going to teach. Offline tutoring is also a good option if you have extra space at home.
2. Recruitment services
Recruitment services require you to source good candidates for companies. If you can build good relationship with them, you can refer candidates and earn little income for your services. It’s indeed one of the small business ideas without investment.
3. Social media and Vlogging
If you’re spending time online socialising with people, put it into work by expanding your fan base. Big companies are always in look out for social media influencers to advertise their products. You’ll have to post ads on your social media accounts and get paid for it.
4. Start your own blog
I shouldn’t tell you that you’d start a blog but you’ll anyways learn how to blog even if i won’t tell you, if you have passion for it. Blogging is also an opportunity to generate income if you have good writing skills and the ability to create impressive and engaging contents. Advertising is the main source of income for bloggers. Apart from that, affliate links and sponsored posts would fetch some extra income too.
5. Social media copywriting
Small and medium companies cannot employ a permanent employee to create their presence on social media. There’s an opportunity to start a business with it if you can create engaging contents and increase return on investment for companies while outsourcing social media management. You can consider this as one of the small business ideas without investment, if you already own a laptop and internet connection.
6. Driving School
If you own a small car and it’s not fully utilised, starting a driving school is a nice bet. You can earn part time while utilising rest of the time for other options. You can even scale up and generate more from it as things get better.
7. Logo design
There’s always some demand for creatives. If you’re gifted with such a creativity, dig deep and find a business with it. Logo designers and graphic designers earn good money. The more your creativity, the better you’ll earn. It’s one of the small business ideas without investment to start if you already own a laptop or desktop.
8. DJ Services
Disk jockeys earn good income in multiple occasions. If you have a laptop and editing software, the only other investment you need is creativity and time. Learn and earn.
9. Tourist guide
This is yet another passive income generating idea if you know where to turn left and where to go straight. Haha Jokes apart! If you can really guide people to visit places, the potential to earn is outstanding.
10. Job consultancy
The globalization brings about structural changes in economy, and many jobs of yesterday are going to vanish and new kind of jobs are being created. Artificial Intelligence, Big Data, Data science, Machine learning to name some new fields of study. For example, social media manager is a new career option which is the result of technological disruptions. This is one of the small business ideas without investment, but requires good communication skills and knowledge of various domains to start with.
11. Financial planning
India really needs financial planners and educators. Many people lack knowledge of creating long term wealth and improving their quality of life. There’s always a great opportunity to improve financial literacy of people as well as earn from it. But you need to obtain relevant certification before knocking this door.
12. SEO specialists
Getting more visibility online to businesses has become as important as blood in the body. If they’re not getting enough attention, they’re re more likely to lose the game. Competitors are always in look out for people who can create competitive advantage. SEO consultants help businesses reach more people and improve visibility. Web design and development is yet another opportunity.
13. Advertising consultants
Again, for businesses, advertising is a marketing function which helps to increase company sales. They need to understand the right way of positioning their products to increase ROI. Digital marketing, eCommerce and door shipping are to name some disruptions occurred in the past and still relevant. You can make a business out of it.
14. Affiliate marketing
You’ll basically need a blog to start affiliate marketing. You’ll work with companies reviewing their products, writing reviews and placing links in your blog to buy products. If you have the ability to target right products to right audience, the success rates are high. If you are good at creating videos, it’s a bonus for you as you’ll always be able to create awesome review videos and earn also from YouTube.
15. Book keeping and tax consultant
This is not new though there’s always a demand for tax consultants and financial book keeping services. Who doesn’t want to save money and put it into some other purposes? May be they can start a small investment with it. Especially tax consultants with good knowledge of tax planning can earn enough money advising people on how to save tax money.
There are many other passive income ideas that i did not cover in this blog. You may know some of them, do share in the comments below.