Global economies are yet to fully recover from the worldwide recession that started off in 2007 and even a burgeoning economy like India’s is still smarting from the adverse effects of the liquidity crisis. Though the government keeps claiming that new jobs have been created in almost every industrial or commercial segment and the unemployment rate has come down, reality presents an altogether different picture.
Businesses and establishments are closing down at a rate which is faster than the pace of creation of new factories or industries. Barring a small fraction of the Indian population, most families are finding it really tough to make ends meet. In the present economic scenario, wouldn’t it have been worthwhile if you could do something that would have provided you with a supplementary source of income? In this context, you can take advantage of quite a few business opportunities that require minimal or low investments but end up yielding high returns in the long run. Let’s take a look at some of the options.
Consultancy Services is one of the few business options that’d require you to practically invest a very small amount in terms of capital. If you’ve have been in a profession or calling for over two decades, you certainly would have garnered the necessary experience and honed your skills to get going on your own. For instance, if you have been working as a senior accountant or a lawyer in a firm for a long time, you can set up your own consultancy relating to financial services or law.
You’d just need to rent a small office space and have a laptop and other necessary office equipment like fax, printer, and softwares and so on. In most circumstances when you’re starting off, you might not even need all the office kit. If you want to pare down costs further, you can consider working from home in the initial phase. What youâ€™d need most imperatively is expertise in a particular field or segment. This is the age of specialization and you’d be netting customers only if they can benefit from your skills or expertise.
Fitness or Wellness :
Most people have become very health conscious these days and are going out of their way to keep themselves fit. If you can tap into people’s obsession for maintaining their wellbeing, then you can consider setting up shop for extending yoga services, massage, physiotherapy, skin care, haircare, Pilates, and so on. You can extend any of these services from the comfort of your home. As far as investments go, you’d have to sign up for a professional training course in your chosen field and keep a ready stock all the inventory that’d be required for plying your trade. And yes, you’d need loads of patience as it might take years to break even since you’d be facing a lot of competition.
Catering Services :
There is no dearth of gastronomes these days and the best way to realize is to venture into serving delicacies. Now, since you have to keep your investments at a minimum as you may not have any idea of what the returns will be in the short run or long run, you can set up a small eatery or a food catering joint. Instead of trying to please all palates by serving all types of foods, concentrate on specializing in a particular item or class of items. Think in terms of a bakery or a petite pub or a small salad bar.
Online Writing :
The advent of the Internet has benefited innumerable people in various different ways as it had opened up avenues which were hitherto unthinkable. If you have expertise in a particular arena and have the basic computer and Internet researching skills, you can earn quite a sum. You’d just need a broadband connection and a PC or a laptop. You can work as a freelance journalist, content writer, accountant, website designer and so on.