Despite being more educated on average than their male counterparts, women still represent a minority of business owners and operators. However, low-cost, easy-to-start opportunities are available, many of which can be pursued from the comfort of home.
Females earn more undergraduate and graduate degrees than men, start an average of 1,821 businesses each day, and own 36% of all companies in the U.S. Yet, our companies tend to be smaller, employ fewer people, and we still make only 80 cents for every dollar a male makes.
While we have made significant strides in some areas, we continue to face challenges, such as limited social networks, less experience, and a lack of confidence, which hinder us from closing the entrepreneurial gap.
So, how do we overcome these obstacles and make business ideas for women more competitive? We can start our own businesses with the resources we have at hand.
Affordable Small Business Ideas for Women
Few things match the pride of earning income from a product you’ve created or a service you’ve personally delivered. However, extensive research reveals that women often secure less financial capital from external investors and rely more on their own savings for startup costs.
Fortunately, numerous low-cost business ideas are available for women, enabling you to embark on your entrepreneurial journey without overstretching an already tight budget.
Freelance Writing
With each passing year, companies increasingly prioritize quality content, making opportunities for freelance writers more abundant and financially rewarding.
However, freelance writing demands more than just grammar skills and adherence to AP formatting. You must know where to find jobs, set appropriate rates, and enhance your proficiency to scale your work effectively.
Wedding Planner
Approximately 29% of couples hire professional wedding planners to orchestrate their special day. Whether offering full-service planning or day-of coordination, the wedding planning industry presents numerous opportunities.
Couples often invest in personalized touches that make their wedding unique. By specializing in a particular niche—such as destination weddings, Jewish weddings, or luxury weddings—you can become the go-to expert and market yourself more effectively to prospective clients.
Reselling High-End Fashion
Reselling secondhand high-end fashion on platforms like Poshmark, Mercari, or eBay can be a profitable venture for stay-at-home mothers or anyone with a passion for fashion. Luxury brands are particularly lucrative due to their high resale value. Living near affluent neighborhoods can provide access to high-end clothing in local thrift stores.
Expand your business by presenting free closet cleanout services and purchasing items clients no longer want. Alternatively, you can sell items on behalf of clients and get a commission from sales.
Photography
Entering the photography industry can be competitive, but by diversifying your offerings and developing a unique style, you can attract clients seeking something distinctive. Specializing in a niche—such as newborn shoots or weddings—can also set you apart.
There are multiple avenues to monetize photography. You can offer family and event portraits and business headshots or sell your work as art or stock photos online. For those interested in wedding photography, consider reaching out to established photographers in your area to assist as a second shooter. Building relationships and trust through these opportunities can eventually lead to referrals.
