Starting a business with £5000

[Orchid1]

Random question. What kind of business could be started with £5,000? It wouldn't necessarily have to be something that made huge amounts of money just a bit extra on the side every month. I'm guessing buying and selling particular items but just wondering if anybody has ever done it before?

[iphonedyou]

Orchid1 said:

Random question. What kind of business could be started with £5,000? It wouldn't necessarily have to be something that made huge amounts of money just a bit extra on the side every month. I'm guessing buying and selling particular items but just wondering if anybody has ever done it before?

Consultancy businesses can lend themselves well to low start-up costs. £5,000 doesn't necessarily buy a lot of stock that would generate enough turnover to secure a profit one could live on - though there are many variables, not least how quickly you can buy and sell stock and then get paid.

ETA: you said 'on the side', which I appear to have skimmed over. Sorry!

[Orchid1]

I've thought about doing it before with jewelry (don't laugh) as it wouldn't take up any space in the house or be a hassle to post but it's a bit of a saturated market so whatever I bought could take forever to sell.

[Simpo Two]

Or keep the £5K and do something fee-based. All you need is a desk and a website.

[Doofus]

Simpo Two said:

Or keep the £5K and do something fee-based. All you need is a desk and a website.

And a skill that people will pay for and the ability to generate customers

[Hoofy]

Doofus said:

the ability to generate customers

The hardest bit! You can be the best in your field but if you are incompetent in the marketing/networking part, you will be the best in your field without any business.

[Doofus]

Hoofy said:

you will be the best in your field without any business.

Hmm. Big fish, small pond.... Sounds important! Tell me more

[Hoofy]

Doofus said:

Hoofy said:

you will be the best in your field without any business.

Hmm. Big fish, small pond.... Sounds important! Tell me more

Is that what I meant?

[Simpo Two]

Doofus said:

Simpo Two said:

Or keep the £5K and do something fee-based. All you need is a desk and a website.

And a skill that people will pay for and the ability to generate customers

Extremely true. Coming from that position I just assumed... then again with the luxury of a day job it's not such a big deal whether it works or not.

[foxsasha]

I started my company with a credit card with a £500 limit. Just takes work. Lots of hard work.

[Wacky Racer]

Alan Sugar started with £50 in 1968...(So he keeps telling us)

So with hard graft and a good business brain you too can be worth £1b.

[Whistle]

I started a business in 2006 with £2000.00

Now employ 8 people and turn over more than I ever expected, it's a hell of a lot of work though.

[Nickyboy]

A small beginning can lead to something big

This guy set up The American Messenger Company with $100




It's now a $60bn corporation

[ben_h100]

If it was me, I'd head out to the Middle East and buy gold/diamonds from the local jewellers. Return to UK and sell to jewellers greet for a small markup.

I know people who have done this on a small level with some success. 30% up. They know what they are looking for.

[dudleybloke]

Rent a house, fill it with hookers, profit.