Starting any business requires boldness and risk-taking ability. Many questions like “how to go about it?”, “what if it fails?”, “how do I get my customers?” may pop up in one’s mind. Starting a small-scale business even as a newbie entrepreneur can be very stressful, but having the right idea and mindset can make it a rewarding and profitable business.
key insights
- Small-scale businesses require minimal capital, little experience, and few employees, making them accessible to newbie entrepreneurs.
- These businesses are crucial for economic growth, providing jobs and innovative products/services that contribute to GDP.
- The article lists 15 diverse small-scale business ideas, ranging from food catering and retail stores to specialized services like event planning and fitness training.
- While these businesses can be started with limited resources, the article emphasizes the importance of gathering some experience, technical know-how, and a little capital before venturing into any business.
What is a Small Scale Business?
According to Ourpass, small-scale businesses are privately owned companies that typically require minimal capital to begin, have a limited number of employees, and operate independently within a localized area.
A small-scale business is any type of business that falls between these three categories of requirement: Little or no capital, little or no experience and little or no employees. It is the direct opposite of a big-scale business, which would require a lot of things in place before it kick-starts.
Small-scale businesses are essential to the economy, as they help provide jobs, innovative products and services that contribute to the Gross Domestic Product (GDP) growth of every country.
Top 15 Small-Scale Businesses for New Entrepreneurs
Businesses like this require enough knowledge about what it entails and how it works. It might also require some capital and something that will make your business stand out because they are all very competitive.
1. Food Catering
We have a very high demand for food dealings these days and this can be used as an opportunity to make money as well. This business is the provision of different types of food services for your customers before the beginning of the day or a few hours before it’s needed. It is also a very profitable business because the food is prepared according to what the customer paid for. People in this business can either supply individual food or bulk food for a large audience.
2. Retail Store
This business has to do with the buying of different products from wholesalers or manufacturers directly and then placing them in a store or shop to sell to people who can’t access the manufacturers or wholesalers. This type of business will require some capital and technical know-how, before starting it in order not to run into loss.
3. Event Planning
Many people don’t know anything about planning an event, that’s where the business of event planning comes in. Event planning is simply the act of planning and organizing everything about the smooth execution of any event or party. The person must have strong organization skills and be able to coordinate different events consisting of weddings, conferences, birthdays, burials and the like.
4. Service Provision
This business has to do with the provision of different types of services. This time around, no product is sold, but services are rendered. According to Rise Up Labs, service rendering has been grouped into three; Goods-based Service Providers, People-based Service Providers, and Information-based Service Providers. People in this type of business use manpower or their disposition in exchange for value. It consists of services like; fixing services, electrical and installation services, entertainment services, therapy/consultation services, decoration services etc.
5. Photography
People who offer this type of business are referred to as ‘photographers’ and they help to capture memories and moments in a picture for people. Before starting this business, one must be able to handle a camera and know how to capture the right postures. Aside from that, he or she must be able to edit the pictures to portray whatever the client wants. This business requires the appropriate tools like backdrops, lighting sets, props and a standby studio for all the picturing.
6. Cleaning and Organizing Agency
This is a type of business, where people are contracted to render cleaning and organizing services for homes, offices, halls or any other type of building. People in this business must have the right cleaning substances/tools for the cleaning aspect, as well as, both the knowledge and strength to carry out any form of organizing because it is very tasking.
7. Fitness Training
People in this type of business are always professionals in bodybuilding, working out, the right diet, fitness and wellness. They help to guide people on how to perform different exercises and gym the right way. They know how every piece of equipment in a gym works and know how to train people who need their services. They are often referred to as either ‘gym instructors’ or ‘fitness trainers’.
8. Small Scale Manufacturing
Small-scale manufacturing business has to do with the production of easy-to-do items like liquid and bar soap, candles, lip balm or gloss, vaseline, resin arts like key holders, combs, book covers, mirror handles, pen covers etc. All those items mentioned above can easily be done. All it just require is having the interest, spending time, knowing how to do it and also how to sell it.
9. Hair Beauty Making
Hair beauty making is the business of making people’s hair and adorning them with it. People in this category must be able to make different styles of hair and know different ways of hair treatment and styling as well. This business also has to do with the making of different types of wigs because these days, there’s a high demand for them.
10. Fashion Design and Tailoring
People in this business provide outfits for their customers by sewing from scratch. It’s either their clients who bring the raw materials or the tailor who gets it from the market. Anyone who goes into this kind of business must be able to take body measurements correctly and also know the right body parts to measure because different styles comes with different mode of measurement. He or she must be very perfect in cutting clothes and skilled in sewing different styles.
11. Leather Works
Starting a leatherwork business has to do with the craft of making bags, shoes, belts, jackets, hats, and upholstery for vehicles, motorcycles and furniture with leather. Anyone in this business must be very skilled and unique in this craft. He or she must know how the leather business works and how to cut out, measure and also handle needles.
12. Maintenance and Repair Services
This is a business that deals with the repair of any appliance or device. People in this business are referred to as ‘Engineers’. They are familiar with different types of equipment, such as refrigerators, air conditioners, washing machines, and electronic devices and they always know how to diagnose and fix any problem as regards those various devices and appliances. It also requires the possession of necessary tools and equipment like screwdrivers, pliers, testing devices and a workspace or shop with adequate lighting and safety features.
13. Small Scale Farming
This business has to do with the planting, cultivation, and harvesting of crops and also the rearing of livestock and animals. People in this business know crop cultivation, soil management and irrigation techniques and are also able to operate farm equipment, such as tractors and ploughs. They are also familiar with different types of crops, suitable pieces of land, their growth cycles, and market demand. Another thing to take into consideration is physical stamina and the ability to plant in varying weather conditions.
14. Laundry and Dry cleaning
Laundry and dry cleaning is a type of business that can be started from a small-scale angle and requires washing and ironing clothes for people in exchange for value. People in this business must know different fabrics, washing techniques, and stain removal methods and also be able to operate washing machines, dryers, and ironing equipment. It would also be a plus if they gain familiarity with laundry chemicals and detergents and have a workspace or shop with adequate equipment, water supply, and ventilation.
15. Sales of Second-Hand Items
Second-hand items are used things that are still in good condition and are sold at a lesser price to people who prefer them. Second-hand items vary and range from clothes, underwear, jewellery, shoes, bags, wigs, appliances, devices, books, furniture etc. People in this business know how to get those items and sell them to the right customers.
This is possible because they have knowledge of market demand and prices for second-hand items and can source high-quality items at reasonable prices. They are also familiar with the different types of second-hand products and know how to negotiate prices and close sales with their customers.
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Conclusion
Here are the top 15 small-scale businesses any newbie entrepreneur can venture into without breaking the bank. A small-scale business is any type of business started by an entrepreneur who believes in little beginnings.
Even though there is a thing called “learning on the business”, it is still advisable to gather some experience, technical know-how and a little capital before venturing into any kind of business
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