Serious: £20.000 to start a business today; what?
Discussion
Dear car friends...
If you had 20.000 today to start a business, what would you do? I'm 31 y.o., I have a mortgage free house (inherited) and car, and I also have a hobby webshop (for carguys) which I started just few months ago.
But I'm going to lose my main job soon and the job market is really tough these days. My mind is set on making my webshop work but that will of course take a lot of time and money. I was contemplating Uber but after searching a lot you don't get much left after using your own car.
I have no problems to add a approx £20.000 loan to my house at a 2,15% interest and it's manageable for me for 1-2 years with no problem at all because of its small size.
I have a bachelor degree in Marketing Communications and I'm passionate about marketing.
What would you do if you had this money? I'm thinking about creating an income to get by, nothing big or wonderful. I have some startup experience from my webshop and I'm very interested in business also (I buy a lot of books and magazines on the subject because it interests me). The problem is of course finding something I can dive into with little risk (as mentioned above I can live with little return as long as it's a safe bet).
I feel stupid creating this thread because I SHOULD be able to come up with something with my knowledge and creativity which often gets praise. I'm just a little bit in the dark now and would really, really appreciate some input...
PS. I live in Norway and if there is anything I could export (middle man) that's interesting for me. I can import also.
If you had 20.000 today to start a business, what would you do? I'm 31 y.o., I have a mortgage free house (inherited) and car, and I also have a hobby webshop (for carguys) which I started just few months ago.
But I'm going to lose my main job soon and the job market is really tough these days. My mind is set on making my webshop work but that will of course take a lot of time and money. I was contemplating Uber but after searching a lot you don't get much left after using your own car.
I have no problems to add a approx £20.000 loan to my house at a 2,15% interest and it's manageable for me for 1-2 years with no problem at all because of its small size.
I have a bachelor degree in Marketing Communications and I'm passionate about marketing.
What would you do if you had this money? I'm thinking about creating an income to get by, nothing big or wonderful. I have some startup experience from my webshop and I'm very interested in business also (I buy a lot of books and magazines on the subject because it interests me). The problem is of course finding something I can dive into with little risk (as mentioned above I can live with little return as long as it's a safe bet).
I feel stupid creating this thread because I SHOULD be able to come up with something with my knowledge and creativity which often gets praise. I'm just a little bit in the dark now and would really, really appreciate some input...
PS. I live in Norway and if there is anything I could export (middle man) that's interesting for me. I can import also.
Taxi company. Or more specifically supply vehicles to the trade
Uber does not own a single vehicle they need vehicles to be rented to their partners.
Buy 4/5 ex police focus/Astras rent to new uber drivers for £160 a week each
Just stick my 10% in the post each week
Serious suggestion though depending on whereabouts in the country you are
Uber does not own a single vehicle they need vehicles to be rented to their partners.
Buy 4/5 ex police focus/Astras rent to new uber drivers for £160 a week each
Just stick my 10% in the post each week
Serious suggestion though depending on whereabouts in the country you are
Something niche to do with electric cars / charging / infrastructure considering this;
http://www.independent.co.uk/environment/climate-c...
http://www.independent.co.uk/environment/climate-c...
with respect - being passionate about marketing and business and having set up a web shop hasn't given you the experience of setting up / running a business needed to advise others - you need to have set up a number of types of businesses / seen businesses fail /seen them succeed / seen them grow / dealt with staff / etc. to be able to do that successfully...
however you could advise on some elements e.g. marketing - so perhaps find something that interests you - that is niche and others are not offering - then become the expert for that
however you could advise on some elements e.g. marketing - so perhaps find something that interests you - that is niche and others are not offering - then become the expert for that
You've a mortgage free house, do really want to risk losing that privilege?
I started with nothing 10 months ago and it's been great to see the money building up rather than reducing a debt.
If you love marketing do it self employed. Market yourself and see if you really can do it.
See an accountant, get your terms and conditions sorted, buy some business cards, think of a company name, basic website, email. You'll still have change from £1000..
I started with nothing 10 months ago and it's been great to see the money building up rather than reducing a debt.
If you love marketing do it self employed. Market yourself and see if you really can do it.
See an accountant, get your terms and conditions sorted, buy some business cards, think of a company name, basic website, email. You'll still have change from £1000..
IATM said:
If you think the job market is tough then the business market is 10 times worse.
With the greatest of respect 20k wont get you very far at all.
It depends on the industry I guess, we started with a lot less than 20K.With the greatest of respect 20k wont get you very far at all.
Some cheap PC's with office + email, a few phones and off you go, anything you don't have beg, borrow, rent.
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