A lack of funds can make starting a business, daunting. Consider offering services instead of selling products as these businesses often have little to no startup costs. 

Here are some business ideas with minimal start-up costs:

• Photography - If you’re a skilled photographer, you can offer your services and all you need is to invest in a good camera and editing software.

• Social Media Management -  You can help small businesses or individuals manage their social media accounts and create engaging content from your phone and laptop

• Gardening or Landscaping Services - If you have the tools and skills, you could offer gardening and landscaping services. 

• Cleaning Service -  It doesn’t take a lot of capital or specialist knowledge to get started. Instead, you just need a business plan and to put in the hard work.

You can also keep the cost down by investing in

affordable tech tools using low-cost marketing and cost-cutting initiatives.

Follow the link to download a comprehensive list of business ideas to get you started. 

New This Week (24 October 2023)

• 12 IT Business Ideas in South Africa

• Effective Sales and Marketing TechniquesLISTEN: Costing and break-even strategies

Prepare For Black Friday As A Small Business OwnerBlack Friday, the largest sales day in the US has become very popular in South Africa, and the question is, are you prepared for the pros and cons and everything else it entails? Ways to prepare for Black Friday and Cyber Monday - Make sure your e-commerce website is optimised.- Scatter deals throughout the day to leverage the quieter times.- Automate as much as possible to make invoicing, payments and delivery easier.- If you have a brick-and-mortar store consider having special offers and activations in store.- Advertise in advance.- Research your competition on social media.- Offer various payment options. For everything you need to know about Black Friday sales read below.

How Much Revenue Do I Need For A Business Loan? This will differ depending on the lender and the size of the loan requested. Most lenders will require that a business generate at least R200,000 per annum, however, this amount may increase to R500,000 or even R1 million, and more. Ultimately, the stronger your business financials are in terms of your annual revenue and profits, the more likely you are to get approved for a business loan. Accounting software will assist you in keeping an eye on your finances to make sure you meet the loan requirements. For further requirements see below:

Why An Income Statement Is Important For An Investor

One of the most important parts of running any business is keeping careful control over your finances. You can monitor your finances through bookkeeping and accounting making sure you are ready with the right documentation when talking to possible investors. One such document is an income statement, a financial statement that shows the company's revenues and expenses during a particular period. Investors use this to gauge profitability as they can provide information about a company's revenue, expenses, profitability, debt load, and ability to meet its short-term and long-term financial obligations. Download the template below to make sure your income statement covers all the bases.