8 of the Quickest Businesses to Set Up Today

8 of the Quickest Businesses to Set Up Today

If you are craving some freedom, you may have thought about launching your own business. But what if you don’t have time to hang about? Many people don’t have the time or the resources to build a business over a few years. Here are some businesses to set up today and start making money instantly.

Businesses to Set Up Today: eBay Selling

As of a few years ago, eBay selling was the go-to for people wanting to make money quickly. There were a bunch of scandals and some big crackdowns that saw some sellers get penalised and removed from the site. However, things have calmed down and people are falling in love with eBay all over again.

Transcription Service

If your hearing rivals a German Shepherd listening out for an open crisp packet, you might just have a future in transcription services. Many people, especially writers, are taking advantage of transcription services as a way to give a quicker turnover on projects. All you need to do is accurately turn the spoken words into written words.

Businesses to Set Up Today: Sell Photos

The internet grows bigger every day, and every day there are more people looking for stock photos. It doesn’t take much to get started, all you need is a good eye for a photo and a digital camera. There are hundreds of websites that can list your photos for you, meaning you won’t have to worry about selling them yourself.

Make Your Own

If you have a talent for creating things, you could start your own small online shop. People have grown tired of generic goods that thousands of people already have, they are craving the unique and unusual. Don’t be afraid to show off what you can do and make money off it.

Franchise Owner

If you have ever dreamed of running your own restaurant but didn’t like the odds that come with running one, a franchise could be your answer. 60% of restaurants don’t make it past their first year, however, with Franchise Direct you can choose a brand name restaurant and run it yourself.

Webinars

Across the world, people are turning on to the idea of learning online by attending webinars. If you are knowledgeable about a certain subject, there is a possibility that people will pay to hear you talk about it. And this can be anything from personal development to myths of your local area. Don’t rule out any potential subject.

Virtual Assistant

The demand for virtual assistants is growing every day, especially now that more people are switching to working from home by themselves. Although they are running their own business single-handedly, they are realising they need some extra help sometimes. And thi is where virtual assistants come in.

Copywriter

Working as a copywriter can be one of the best jobs in the world. I should know. I’ve copywriting for nearly fifteen years now and can’t imagine any other type of work ticking the boxes in the same way. One of the easiest ways to get started is as an internet copywriter, and it can be easy to find work if you look in the right places.

 

Starting A Small Business? Prepare Yourself Financially With These Tips

Starting A Small Business? Prepare Yourself Financially With These Tips

Taking a leap of faith and leaving your main source of income to pursue self-employment is an exciting and big step. You have complete control over your activities as well as your financial future. Starting a business, as exciting as it is, is not without its challenges. A small business owner must be financially prepared to launch and grow the company. Taking the time to plan for your business ensures that your first step is as certain as it is realistic. Once your finances are in order, you must focus on increasing profit margins and overall business success. 

Here are a few ways you can prepare financially for the launch of your small business.

Starting A Small Business? Have a plan for saving

If you are an entrepreneur, you should understand the worth of every pound you spend.

We understand that as costs pile up. Saving may become a non-existent concept, but your business requires funds to get up and running. Do not become disheartened though. Instead, make a conscious effort to stick to saving money. Your business will thank you for it in the long run. For example, you could commit to saving a percentage of the salary that you pay yourself. Not a huge portion, but enough to build up your savings pot steadily. 

Keep an eye on your cash flow

There are numerous reasons why small businesses fail. The most common is a lack of funds, which is often the result of poor cash flow management. You will be able to keep your business financially healthy if you have a good understanding of your cash flow management. If there is a cash flow problem, the business will most likely suffer and may be forced to close. It is cash that gives your company power to hire people, purchase the tools and equipment and the small consumables, such as copper foil business cards that it needs to grow and flourish. 

Keep your business and personal finances separate

As you work to grow your company, you will realise that keeping your personal and business finances separate makes things a lot easier. This is due to the fact that a business should exist as a separate entity. The first advantage of separating funds is taxation. You don’t want your personal funds to be taxed as business income. It also means that if you are audited by HMRC, you can show clear evidence of your income and expenditure.

Starting A Small Business? Improve your credit score

Building business credit is essential for growing a successful company. Even if you are just starting out or have some money to support your business, you will need a positive credit rating at some point. A good business credit score can help you improve your cash flow and credit rating. To keep your credit score looking healthy, make sure that you pay all of your bills in full and on time. It is also important to monitor your credit record – this shows if anything has been overlooked or someone is committing fraud in your business name.