Starting a small business can seem daunting, especially when you consider the initial capital required. However, it is entirely possible to create a successful business with less than $750. Many Canadian entrepreneurs have succeeded in creating businesses with minimal investment, relying on digital tools, creativity and strategic planning.
With a PSPXpress fast loan, you can get up to $750 to help you launch your business without the long delays and complications of traditional loans.
1. Why starting a business with less than $750 is possible
Today, thanks to digital platforms and low-cost tools, starting a business on a limited budget is quite feasible. Many Canadian entrepreneurs are turning to online services or creative trades, which require little inventory and overheads.
Here’s why it’s possible to start a business on a shoestring budget:
- Low-cost technological tools: There are platforms that enable entrepreneurs to create a website or online store at minimal cost.
- Remote working: Many businesses can be managed from home, reducing fixed costs such as renting office space.
- Opportunities in the gig economy: Demand for personalized services such as freelance writing, design or consulting is booming.
2. Business ideas for Canadians to start with less than $750
a. Freelance copywriting services
If you have writing skills, starting a freelance writing business is a great idea. With a small loan from PSPXpress, you can cover essential costs such as setting up a professional website, subscriptions to writing or editing tools, and some marketing resources.
| Initial costs | Amount |
| Hosting and domain name | 100 $ |
| Writing tools (Grammarly, etc.) | 20 per month |
Potential earnings: Freelance copywriters can charge between $25 and $150 an hour, depending on their expertise and industry.
b. Sale of handmade products (Etsy store)
If you have a talent for handmade objects, such as jewelry or decorative items, you can open a store on Etsy. A loan of less than $750 will cover the cost of basic materials, packaging and initial advertising.
| Initial costs | Amount |
| Base materials | 300 $ |
| Selling fees on Etsy | 0.20 per item |
| Branding and packaging | 150 $ |
Potential earnings: Depending on the product, you can generate between $500 and several thousand dollars a month.
c. Pet-sitting service
Canadians love their pets, and the demand for pet walking and pet sitting services is constant. This business requires little investment, but can quickly become profitable through word-of-mouth and referrals.
| Initial costs | Amount |
| Basic equipment (leashes, toys, etc.) | 50 $ |
| Professional insurance | 200 $ |
| Business cards and flyers | 100 $ |
Potential earnings: Pet sitting or walking services can generate between $15 and $30 per hour.
d. Online tutoring or coaching
If you’re an expert in a specific subject, be it English, math or even life skills such as time management, you can offer online tutoring or coaching sessions. This activity mainly requires a computer and an internet connection, making it an inexpensive option.
| Initial costs | Amount |
| Website creation | 100 $ |
| Teaching aids | 50 $ |
Potential earnings: Tutors or coaches generally charge between $25 and $60 an hour.
e. Dropshipping online store
Dropshipping lets you sell products without having to manage an inventory. You partner with suppliers who ship directly to customers. This model is attractive because it requires little initial investment.
| Initial costs | Amount |
| Subscription to an e-commerce platform | 30 per month |
| Hosting and domain name | 100 $ |
| Initial advertising | 200 $ |
Potential earnings: Depending on the product, monthly earnings can range from $1,000 to $5,000 or more.
f. Photography
If you have a good-quality camera and a talent for capturing unique moments, you can start a photography business. Whether it’s for events, portraits or even product photography, this business is in high demand in Canada.
| Initial costs | Amount |
| Used photo equipment | 500 $ |
| Retouching software subscription | 50 per month |
| Website creation | 100 $ |
Potential earnings: Photographers generally charge between $200 and $1,000 per session.
4. Best practices for starting a business on a limited budget
Starting a business on a limited budget requires careful planning and strategic use of resources. Here are a few tips to maximize your chances of success:
a. Focus on the essentials
Identify what you need to get started. Invest first in essential tools and services, such as a website and basic materials, before investing in less urgent expenses.
b. Use free or inexpensive tools
Take advantage of free or low-cost tools like Canva for designing your marketing materials, or Shopify for creating your online store. There are also many free resources for learning the basics of digital marketing or accounting.
c. Start small and build up gradually
There’s no need to do everything right from the start. Start with a small number of customers or products and reinvest your profits in developing your business. This reduces financial risk while creating a solid foundation for future growth.
Conclusion
Starting a small business in Canada doesn’t require a huge amount of capital. With a good idea and a loan of less than $750, you can quickly get your business up and running. Whether in services, crafts or consulting, there are many options for getting started with reduced costs.
Within your budget and using low-cost resources, starting a small business in Canada on less than $750 is not only possible but increasingly commonplace, thanks to access to affordable digital tools, remote working, and the personalized service economy. Whether selling handmade products, offering consulting services, or launching a freelance activity, many business models can be initiated with little capital.
If you have any further questions or would like more details, please don’t hesitate to ask!
