There are plenty of advantages to being a business owner. First, owning a small business provides the opportunity to earn more money. Also, being a business owner means you are in control of everything. You decide when to work, where, and what to sell.
Meanwhile, the first step to becoming an entrepreneur is finding a small business idea that works for you. In this article, we go through small business ideas to serve as inspiration for beginners.
What is a small business, and why start it online?
Anyone can start an online business as long as you have a small business idea and a working internet connection in this age and time. Today, you have all the tools to set up your own business online.
Any business that functions on a small scale involves less investment and less human/machine labor to operate is a small business. Most entrepreneurs with huge companies and corporations started by running small businesses.
Meanwhile, social media and online technology make it easier than ever for anyone to start a small business. This includes entrepreneurs who run businesses as their full-time job and those who run them as a side hustle.
With a profitable B2B online business, you can:
- Avoid expensive startup costs,
- Choose your working hours
- Work as little or as much as you want
- Pick a niche that you are knowledgeable or passionate about
More importantly, starting an online business makes it easy to be your boss and earn money from anywhere.
Best small business ideas to start with little money
Before starting any business, it’s essential to decide on what to sell and analyze if it’s profitable or not. The last thing you want is to invest time and effort in a business that isn’t profitable.
Here are 21 low-cost small business ideas that Alibaba.com picks you can consider for your entrepreneurial journey:
1. Start a dropshipping business
Dropshipping is a profitable business to start online, especially if you do not want to buy products in advance. Some entrepreneurs make up to $100,000 a year from drop shipping.1
How does it work?
Dropshipping involves sourcing from suppliers at wholesale prices and then selling them to consumers without stocking inventory. Many B2B e-commerce stores like Alibaba.com make it easy for drop shippers to find suppliers and sell to consumers.
Dropshipping is also a low-risk and profitable small business because you do not need to incur running costs, unlike wholesalers. You can specialize in any product as a …….