Here are some of those easy to start business ideas that require little capital.
1. Selling Food
Food is a
necessity. Starting a restaurant can therefore guarantee an entrepreneur a good
flow of income. If you can partner with an institution to serve them lunch
daily, you will never look back.
You can start by
preparing the food at home and delivering it to clients at their work places.
All you need is a form of transporting the food. Either you buy a small vehicle
or hire.
2. Boutiques
As fashion trends
keep changing, so is the need by people to enrich wardrobes.
If strategically located, a boutique business is worth investing in
especially in urban centres.
3. Salon
services
Everyone wants
to appear smart and beautiful and this makes the salon unavoidable. However, to
be successful, high quality service is a must.
With about 1
Million, you can kick start a barbershop.
4. Bar Business
Ugandans are
generally outgoing people and like drinking no matter the economic situation.
Whereas alcohol isn’t a necessity, those addicted to it are numerous.
This, establishing a bar in a busy places leaves no doubt about the returns.
5. Mobile Money
Services
Financial
inclusion in Uganda is still low. There are districts without a bank branch
while many have a single branch. Establishing a mobile money service center in
such places is worth investing in. Most telcoms [MTN, Airtel, UTL and Warid]
all have theses services.
With Ugsh
2,000,000, one is able to formalize this business. Investors can earn a monthly
commission basing on transactions made.
6. Farmers
training center
Many people especially
in semi-urban areas would like to engage in poultry, piggery or other
small farm projects but do not know how to. You can start small with a few
chickens, animals and crops and grow into a centre of excellence.
7. Online Forex
Trading
The availability
of on-line platforms and automated Forex trading
systems has opened up investment opportunities
to everyday people. Individuals can open and run their accounts
directly or through managers. One can open up an account with $100 (250,000
Ugsh). However, it is important to note that whereas you can make huge profits
in a limited time, you can also make huge losses.
8. Vegetable
Growing
If you have a
small piece of land near an urban market, vegetables are the best option. You
can focus on one vegetable like cabbages or tomatoes. However, it requires the
right timing.
9. Soap and
candle making
Soap and candle
making isn’t as hard as you might think. It just takes time and patience to
learn. These products can easily be sold via local gift shops.
With Ugshs.
500,000 one can start making candles. You just need the skill which
requires training for a few says.
10. Cake
Baking/Decorating (Confectionery)
This is a
business that can be done from home. It requires creativity and design
depending on the occasion. The more efficient and creative one is, the more
customers you will pull.
This business
tends to be occasional, but it can fetch quick good money.
11. Child day
care
If you love
children and have plenty of time and space at home, this is a business worth
considering. Due to the financial pressures faced by many families
today, parents are forced to both hold jobs/work to bring in enough income to
pay daily living expenses. This creates a home based business opportunity for
you.
12. Money
Lending
Although the
market for money lending companies is already saturated by big banks, tycoons
and other businesses that have enough money to lend people in need, you can
still capitalize on a unique niche.
You can for
example focus on University students, Boda boda riders and small businesses. It
is easy to start and can be operated without an office.
Now don’t sit
back and say you have no jobs. There is a source of funds and the ideas are
many, go out and start/do something.
“To any
entrepreneur: if you want to do it, do it now. If you don’t, you’re going to
regret it.” – Catherine Cook
