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Cost Effective Small Businesses Might Thrive In 2010

Written by Ken Gaebler
Published: 2/4/2010

Business.gov offers entrepreneurs tips on inexpensive startups that can bring in big bucks this year.

Starting a small business doesn't have to break a bank account. It might be good news for entrepreneurs that experts at Business.gov predict that some of the businesses with the most potential for growth in 2010 are also some of the most inexpensive types of companies to start.

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The source predicts that businesses that offer online social media consulting and online content production will thrive this year. According to reports from eMarketer, small businesses will spend more than $2 billion on building their social media presence this year. Many will need help developing their social network sites, and entrepreneurs only need a computer to offer this service.

Another inexpensive startup that might generate big funds is specialty food services. The source says consumers are more health conscious today than ever before and the demand for specialty foods has increased. Entrepreneurs can start companies that offer gluten-free baked goods from their home kitchens.

Perhaps surprisingly, the pet industry also offers a lot of opportunities for entrepreneurs strapped for startup cash. It doesn't cost much to provide dog walking or pet-sitting services, and the source reports that Americans are expected to spend more than $3 billion on pet services this year.

Another bonus is that these businesses can be sole proprietorships. According to a study from the SBA, non-employer firms often find success in economic recessions.

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