After World War II, this is the first time that the world is seeing numerous people losing their lives. In 2019, the coronavirus was first detected in the Wuhan city of China, which has been two years by now and the whole globe has been pushed 10 years back. People are struggling to make a buck during this pandemic as the whole world is kept under lockdown. Most of the employees have been kicked out of their respective jobs, and this has created a financial crisis in most of the families. So, to cope with the crisis, what are the small business options available that require minimal investment.
Small Business Ideas With Minimum Investment
Before the start of the pandemic, we had barely seen someone using a mask. But, the use of a mask increased exponentially with time, and people have started using double masks to shield their faces. This spike in the use of masks has given a small business idea to entrepreneurs out there, to start making masks and begin their trade. But, what’s the investment required to start selling masks? If we buy a single mask, it barely costs between Rs 10-100. So, an investment of Rs 20k-30k will be enough to start the business.
PPE Kits And Gloves
The necessity of medical equipment has been highly felt in the past two years, in which governments are facing difficulties to supply their medical experts with sufficient PPE kits and gloves. So, taking the above scarcity as an opportunity, an individual can start the production of these kits and make a healthy sum of money. But, to start this small-scale business, the owner has to get their business registered under the MSME registration under Udyog aadhar scheme. This business can be started initially at a low budget that can be increased with time.
During the COVID crisis, people have shifted their focus to sanitization. And the important thing that is required during sanitization is the sanitizer. At the beginning of this pandemic, people have faced an acute shortage of sanitizers, which has paved a way for manufacturers to increase the MRP. But, as time passed, several small-scale entrepreneurs came forward and started a sanitizer production business. This business is one of the best small-scale ideas to start with a minimum investment.
During this lockdown, schools and colleges have been shut to break the chain of transmission. But, it hasn’t stopped educators from passing the knowledge to their students. Several tutors and educators have shifted their physical classes to the online platform and have kept a path open to earn their bread. This business doesn’t require investment at all, as most of us have laptops and smartphones. But, a few video conference apps charge for taking a subscription.
Online Doctor Consultation
Every doctor isn’t there on frontline duty as some are serving from the backend as well. Doctors have shifted the physical mode of patient consultation to online mode to keep their services available during the pandemic. This shifting has helped doctors to resume their clinical activity to earn some money while sitting at home. This can be termed a small-scale business with a very low investment.
Manufacturing Sanitizer Dispensers
We all have seen a dispenser placed at the entrance of offices, malls, banks, etc, that people use to get their hands sanitized. The benefit of using these dispensers is that there will be no contact between the sanitizer bottle and the visitor. The sanitizer dispensers are mostly available in two types i.e. touchless dispensers and manual dispensers that require feet to press. To start this business of sanitizer dispenser manufacturing, the owner can apply for a business loan under the CGTMSE scheme. This loan will facilitate the start of this small-scale business.
This idea is in the trend now during the pandemic and it has seen a huge growth in people enrolling themselves. In affiliate marketing, a person has to sell the product of a company, in return for that, they will get a commission from the company for each sale they make. This is also a small-scale business that sometimes requires a small investment initially.
In addition to these ideas, there are several other small-scale business options that can be chosen. These ideas are the most common ways for a small business to start at a low cost.