5 Affordable Business Ideas That Almost Anyone Can Start

More than 5 million businesses were started last year. But while many people have an entrepreneurial streak, coming up with business ideas can be challenging.

Even more difficult is knowing which business ideas won't require a large initial investment. As someone who's been self-employed as an independent contractor for 12 years, I understand how important it can be to keep start-up costs low.

Here are five affordable business ideas that almost anyone can start.

1. Consulting

I once worked for two national associations doing public relations and online marketing. When I became a full-time writer, I thought I wouldn't use those skills anymore. I was wrong. I've been asked to work on projects on a freelance consulting basis for similar organizations, using my experience in a new way.

Many companies need experienced professionals who understand the nuances of their industry. If you have years of experience in a field, your skills in creating marketing plans, business management, or financial oversight could be in high demand. For example, Indeed says technology consultants -- who help companies decide what tech to use for their services -- are paid an average annual salary of $82,885.

2. Dropshipping

If you've ever bought a dayplanner from a specialty website or ordered a custom-made T-shirt for an event, you've probably interacted with a dropshipping company.

Business Credit Card Comparison

Consider these business credit cards that offer a convenient and efficient way to separate personal and business expenses, simplifying accounting and tax reporting.

Additionally, business cards can provide valuable perks such as rewards points, cashback, and expense tracking tools, enhancing financial management and the potential to help save money in the long run.

Offer	Our Rating	Welcome Offer	Rewards Program	APR
Ink Business Unlimited® Credit Card Apply Now for Ink Business Unlimited® Credit Card On Chase's Secure Website.	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor	Earn $750 bonus cash back Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.	Earn unlimited 1.5% cash back on every purchase Earn unlimited 1.5% cash back on every purchase made for your business	Intro: 0% Intro APR on Purchases Purchases: 0% Intro APR on Purchases, 12 months Balance Transfers: N/A Regular: 18.49% - 24.49% Variable
Ink Business Preferred® Credit Card Apply Now for Ink Business Preferred® Credit Card On Chase's Secure Website.	Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor	Earn 100,000 bonus points Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.	Earn 3 points per $1 in select business categories Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases-with no limit to the amount you can earn.	Intro: N/A Purchases: N/A Balance Transfers: N/A Regular: 21.24%-26.24% Variable

With dropshipping, you set up an e-commerce site with your own products, such as stickers, socks, artwork, etc., but outsource the printing and shipping to another company. Without the need to have lots of inventory on hand, you can start your dropshipping business with little cash.

To host an e-commerce site through Shopify, you'll spend about $29 per month, plus a fee when you make a sale.

3. Sell something on Etsy

While there's a lot of competition on Etsy these days, it's still a very affordable place for people to sell their goods online. Etsy charges $0.20 per listed item on its site and takes a small cut for each item sold. Those start-up costs are low compared to launching a brick-and-mortar store with rent costs, utility expenses, insurance, and employee payroll.

Just be sure to temper your expectations for how much you'll earn. While some people successfully tap into niche markets on the platform, the average annual income of Etsy sellers is between $2,900 and $46,000. That's a huge range, which means you'll likely have to start slow before making this your sole source of income.

4. Subscription boxes

This past Christmas, I bought a wooden box at a craft store, painted it, decorated the inside with greenery and Spanish moss, and added my wife's personalized gifts. When I was all done, it looked exactly like an expensive subscription box (if I do say so myself!).

Packaging materials and gifts can be relatively inexpensive when found online, and so can bulk items for gifts. I've seen many subscription boxes on Etsy, some selling for $144 per box.

While competition is increasing, there's also a lot of demand. Payment processor Stripe says the global subscription box market was worth $31 billion last year.

5. Start a newsletter

Creating your own daily, weekly, or monthly newsletter is relatively inexpensive, and nearly anyone can do it. With a newsletter, you can combine your writing skills with a topic you're passionate about, like investing, cars, or the environment, to gain a following and earn income.

I've read plenty of great content through Substack newsletters and have seen a few colleagues launch their own paid subscription newsletters.

You can launch a Substack newsletter and start accumulating subscribers for free. Just know that once you turn on paid subscriptions, Substack charges a 10% fee for each transaction, and you'll have to pay applicable credit card fees.

Still, a newsletter is a low-cost way to start a side business, with nothing more invested than your time.

There are many ways to start a small business, but these ideas are good places to start if you don't have a lot of cash. It'll likely take a significant investment of time to get your business started and generating income, so remember to be patient with the process.