BUSINESS
With the current
economic
environment and
high
unemployment
rate, at times many
young people find it
challenging to
make it in this
world.
With ambitions to succeed and
the pressures of expectations,
one wants to have something
tangible to bring to the table.
And because at times one needs
a lot of capital to start their
own businesses, getting a
project loan from the bank is a
long process on its own; they
might find it tedious and fail to
launch their ideas. We have
found some simple ways to
start raising capital, and with a
lot of discipline, focus and
patience, you might be able to
raise capital and also have a
source of petty cash to help you
get by as you build your empire.
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Line of business: Airtime
Capital required: Start from
$1500 going up
Labour required: Minimal. You
will need to go purchase airtime
vouchers from dealers.
Minimum profit per day: $30
to $40
Target market: The general
public
Reasons why this is a good
start up: Airtime credit is a
necessity for all cell phone users
so you are likely to make sales
due to the demand. You would
have to be strategic where you
sell your airtime vouchers so as
to have as little competition as
possible.
Line of business: Hair and
beauty
Capital required: None to
$500(for the nail kit)
Labour required: Your talent
or trained skills in beauty
therapy
Minimum profit per day:
Varies with your charge and
number of clients but one can
make $50 or more
Target market: Women who
are image conscious
Reasons why this is a good
start up: It is a fact that most
women love to look good and
have a great appreciation about
grooming. You would want to
start with people that you
know and you can offer housecalls and special promotions so
as to increase your clientele.
Line of business: Car wash
Capital required: $100 for
cleaning equipment
Labour required: You will have
to be willing to stand for most
of the day
Minimum profit per day: $20
to $45
Target market: Motor vehicle
owners, car parks
Reasons why this is a good
start up: A lot of people do not
really have time to thoroughly
clean their cars, so you could
maximise on this. It is
important to be strategic and
create a large clientele basis so
as to increase your profit
margin. Your neighbourhood
could be a great place to start
and as your skills and speed
improve you could move to
other places, or receive referral
clients.