Starting a business can be expensive, but it doesn’t have to be.
We all know that starting your own company is an exciting and rewarding experience, but the costs of getting started can often seem prohibitively high.
There are plenty of businesses that you can start for just £20,000 or less! Let’s take a look at some of the best ones below.
Best Businesses to Start With £20k in the UK:
1) Candy store
Most people love candy-store visits as kids, but not everyone has the opportunity to go to one now they’re adults. Opening up a candy store is an excellent way to make your childhood dreams come true for others too. You can offer a huge range of salty and sweet snacks, all in one place. It is easy to get suppliers, rent a shop and start an online store too.
2) Healthy Food delivery service
Healthy food is on the rise – people want healthy meals but don’t have time to cook them themselves. So a good idea would be to open up a healthy food delivery service. You could also offer an online store selling groceries, cooking utensils, and more related products.
3) Fashion designer
Is there one clothing brand you always wished existed but didn’t? Create it yourself. It might take a while to find supplies, but it will be well worth the investment once you do. You can start your own fashion design company and sell these clothes through an online store or brick-and-mortar shops too.
If you’re great with numbers and have experience in accountancy, then set up your own accountancy company. You could specialize in anything from bookkeeping to payrolls – many companies need this service, so start building up your clientele now!
5) Clothing boutique
Opening up a clothing boutique is an excellent way to make your own style come alive on other people too. You can stock all kinds of garments, from bunny-hug onesies and retro dresses to best-selling celebrity fashions and even pet clothing!
Coffee and tea are always best in a coffee shop. You can offer all kinds of hot drinks and food! Once you’ve got the place decorated with cozy corners and comfy chairs, you’ll be raking in money in no time.
7) Build a website
Did you know that anyone can create a website nowadays? You don’t have to hire expensive web designers or HTML experts to code everything from scratch. There are plenty of free templates available for download so just pick one, customize it and upload it. Then you can start selling online!
8) Online store
You don’t even need to put a strain on your wallet by renting out a physical retail location. Instead, you can start an online store and make money with it 24/7 without having to pay high-rent fees! Of course, it’s best to sell digital products like ebooks or software, but you could also sell fashion items.
9) Business consultant
Do you have business experience? Perhaps you could offer your services as a business consultant to struggling companies or start-ups that need specifics. You can also coach new entrepreneurs and help them grow their businesses from the beginning – best of all, there’s no limit to how much money you can make!
Are you a master in your field? You can sell your franchise and help other people start their own businesses under the same name as yours. Of course, this is best if you have a brand that’s already well-known, but it’s also going to be profitable even if you don’t – just look at all those Subway sandwich shops!
11) Wedding planner
Wedding planning often doesn’t come cheap, so why not offer your services as a wedding planner? You can start by providing consulting services – advice on where to have the best wedding for the best deal, what clothes are best suited to different body types, etc.
Once you get more clients, book luxurious venues and order top-of-the-line decorations.
12) Photography studio
Do you have a passion for photography? Why not turn your passion into your own business then! You can open up your very own photography studio and start taking professional pictures of all kinds – best of all, people are always celebrating something, so there’s always work to be done.
13) Affiliate marketing
Think you don’t have enough experience to start your own business? How about affiliate marketing, then, where you promote other people’s products through your website and get a percentage of their earnings! However, the best results will come from promoting items that your target demographic would be interested in.
14) Start a band
Everyone has talent inside them – why not turn it into a business? You can start your own band, compose music and promote yourself online. Plenty of bands have made it big without being signed by major record labels – just look at Arctic Monkeys or One Direction!
15) Digital Marketing Agency
There’s an over-saturated market when it comes to web design, so what about focusing on digital marketing? You can offer your digital marketing services to different companies and help them grow their online presence. Best of all, there are many free online training resources you can use to get started!
16) Cosmetics brand
You don’t need a whole load of cash to start your own lipsticks or perfumes. You can simply buy the packaging and ingredients in bulk, make them all yourself and sell them! Just make sure you get a license to do it legally and watch the money roll in.
Do people often ask you for advice? Why not put your knowledge to good use and be a tutor? You can offer one-on-one tutoring on specific topics that you’re an expert on – best of all, you can do it on your own schedule.
Why not focus on freelancing if you have some experience but want to keep it connected to your day job? You can offer your skills in a specific field and make money from it on your own schedule. It’s also a fantastic way to get started without having to invest too much money!
You don’t need to create your own product. Just look for something that sells well on Amazon, buy it, and sell it again for a little more! This is great if you want to make money quickly with minimum effort.
20) Import and Export Business
Do you know someone with a business? You can offer to import or export things for them. Best of all, this is great if you don’t have too much money to invest – just find something that’s already popular and start importing it and selling it.
21) Social Media Manager
There’s a constant demand for social media managers – you only need to offer your services, and people will be reaching out to you! Best of all, it doesn’t require too much investment so if there is even the tiniest bit of interest in social media within you, go for it!
22) Virtual Assistant
Virtual Assistants are one of the most prominent groups on Fiverr – you can make money by completing simple tasks like data entry and research. It’s a perfect business for those who want to start their own venture but don’t have much capital.
23) Event planner
Do you love hosting parties and events? You can help people plan theirs and then do all the work yourself! Just be sure you’re okay with working weekends and evenings – this is especially important if you’re planning weddings or other major events.
24) Gym and Fitness Business
Gyms and fitness businesses can be started with very little money – just look for a franchise that will fit your budget and go from there. Of course, you’ll need to handle marketing, hiring help, and construction before you can open the doors – but it’s worth it!
25) Interior designer
Do you love home design and decorating? Why not start as an interior designer? There are many people out there who want to make their home look great but don’t know where to start – you can be the one to help them turn it into something extraordinary.
26) Travel Agency
Do you love traveling and seeing new places? Why not start your own travel agency? You can offer flights, cruises, hotel bookings, and all sorts of tours – just be sure you’re okay with handling customer service 24/7! It’s also a business that could bring in passive income if marketed properly.
27) Real Estate
Are you a frequent buyer and seller on sites like eBay and Craigslist? Then, why not go to the next level and start an actual real estate business? It’s a great way to get started with investments – especially since this is perfect if you have previous knowledge in negotiations.
28) Personal Chef
Everyone loves home-cooked meals, but most people have no time for cooking. If this is something that excites you, then, by all means, go for it! You can run your own personal chef business and specialize in the cuisine you’re good at. Just be sure to get a commercial kitchen area – or invest in cooking tools that you can use at home.
If you love writing, why not start a blog? This is one of the best businesses to start online because you can control your schedule. You can write about whatever topic gets you excited and earn money from it – all while working at home!
30) Video editor
Do you love making cool videos? Why not get paid for it? You can start a video editing company and work with clients from all over the world. Best of all, this is one business that’s perfect if you’re a creative type who doesn’t know how to code or program things.
31) Yoga Instructor
Everyone loves yoga, but not everyone can do it. This is where yoga instructors come in – you can offer different types of yoga and help people find the ones that work best for them.
32) Motivational Speaker
Do you know a lot about something and love sharing your knowledge? Then, you might consider starting as a motivational speaker! You can give talks, presentations, and speeches about your area of expertise and let others benefit from it.
33) Personal Trainer
If you’re an exercise enthusiast and love helping people, this is the business for you! Spend some time perfecting your technique and then market yourself to local gyms or even help people work out at their homes.
Do you love writing and know how to capture the reader’s attention? Then, you might consider starting as a copywriter – this is one of those businesses that can earn you passive income if done right!
Copywriters earn money by writing marketing materials, website content, and a whole lot more. Just keep in mind that this is a business where you’ll need to spend time perfecting your skill – otherwise, it won’t work out very well.
35) Graphic Designer
If drawing is your thing, then graphic design might be for you. You can create logos, business cards, brochures, product labels, and all sorts of things! Of course, you’ll also need to know how to market yourself, but it’s worth it in the end.
36) Youtube Partner
Youtube is one of the biggest platforms for creatives – if you’re into video editing, then you might consider becoming a youtube partner! This will allow you to earn passive income from your videos as it grows. First, you’ll need to understand how ad revenue works but once you do, just create content that people want to watch and keep earning money.
37) Airbnb Partner
Another great way to start a business online is by joining the sharing economy. You can begin as an Airbnb host and offer up spare rooms or even just your couch. If you’re lucky, you might be able to travel and rent out your place while you’re away – this is one of those businesses that can give you an exciting experience!
38) Tax Consultant
The tax season is always on, so why not consider starting as a tax consultant? It takes time to build up, but it’s worth it because this is one business that comes with recurring income. You’ll need some clients first, so be sure to market yourself well. But once you do, it can be very profitable.
39) Bee Farm
One of the best businesses you can start for just £20,000 is becoming a bee farmer. Just know that this isn’t your typical business – it takes time to build up, and it also requires a lot of resources. You’ll need to have enough land for them to inhabit and be able to harvest their honey every once in a while. But once you do, bee farming can be very profitable!
If you’re looking for a business that can be started with £20,000 in the UK, then this article might come in handy. You’ll learn about some of the best businesses to start if you have just 20k pounds – they are all different, so it’s worth taking a look at them!
Just know that any one of these will require time and effort, but the payoff will be well worth it when you see your bank balance grow.
So which idea appeals most to you? Let us know below.
Want to start a business but have no idea where to begin? Check out this blog post for some of the best small business courses online that are perfect for beginners! You’ll learn about sales, time management, marketing, and more.