Tips for Starting a Small Scale Business | 5% to SL Charity

Many of you may know that I and my family are doing a small family business. It was started about a year ago. We make baby products such as baby pillows, baby nests, cot sheets, cot mobiles, baby cradles and a lot of various things. Also, we sew duvets, pillowcases and blankets. All of my family contribute to this small business. I liked that we started it as it is an additional income and sewing is one of my hobbies.

Starting a business is really hard. Maybe the hardest part for many. I think that I have some experience of it. So, I will tell you some tips that can be useful to you. These tips are related to home scale product making and selling.

The first thing is choosing the product that you are producing. You have to have the ability to make it. It is better to choose the one that you like. And it is good to make something new. But not something that takes too much time to get popular with others. It is better if that product already has a good demand among people.

The second thing is capital. You don't need to have all the capital at the same time to start it big. You can start it very small first. For an example, if you are going to sew gowns, you can sew a one for one of your close one first. You only need the money for the first one at that time. Do that for few people and you can buy some fabrics with it or some equipment that you need. That is for people who don't have an enough capital.

Those who do have an enough capital, you can use that. But remember that it would take much more time to recover what you used. So, don’t use it thinking that it would give quick results. So don't use a lot of money at the start if you don't have plenty for the other necessary things.

The next thing is something that I have already said. You should not use the whole profit in your needs. The total or a significant part of it should be used for the development of the business. Otherwise it will not develop and you will have troubles of continuing it.

These are some of the main tips that I got to know with experience. Hope this will help you. This is a really hard situation to survive in this country. So it is good if someone can have an additional way of income. Give it a try.

Thank you all for reading!