Investing 10 Thousand Pounds In A Business

[loulou111]

I've inherited 10 thousand pounds. A nice amount but not a lot when you think of a small business venture working for yourself. Do you think it would be possible to start a small business with this amount? If so any suggestions?

[Mozz71]

Depends what you want to do I guess.

[ummmm]

What type of business?

[loulou111]

I'm not sure I'm just thinking of ideas at present.

[ummmm]

Really hard to answer the question then.

What are your skills?

[loulou111]

I've mostly done cleaning work. But I'd like to venture into something different.

[fiction-factory]

There are loads of business options available- many fail but some succeed.
A good starting point is to think of your skills and what you enjoy doing and then try to think of a business. Look around at the people you know and ask them what you find useful.

[waterboatman]

loulou do you have a hobby you enjoy? could you turn into a business venture?

[fiction-factory]

I agree with WBM- eg if you love dogs you could do dog walking or look after them when people go on holiday. And if you like cleaning you could offer to house sit, look after a pet and clean up for people who are out at work

[DTCwordfan]

You can do it for far less than 10k - I know a Romanian, he speaks good English, and he offers a knife sharpening business - goes around the markets and has a small stall, sets up his grinders and away he goes, charging 15p an inch of blade. He's doing pretty well....

[Maydup]

Or painter and decorators are always busy. Use some of the money to buy a small secondhand van, apply your name and number across the side with vinyl advert, take a few local ads, get a stepladder and good brushes and away you go.

[woofgang]

it depends on why you want to start up a business and how you would feel if you lost the while 10,000?

[davebro]

Maydup - is painting and decorating so easy that someone without training (apprenticeship) can just go out and do a proper job to a professional standard? Hm.

[davebro]

And judging by some of the emails I get, with £10,000 you could be a millionaire in a few weeks by *investing* in crypto currencies!

[loulou111]

Thanks for the suggestions I may look into investing in shares instead as I haven't really got a hobby or skills I can put into a business.

[Ken4155]

Looks as if maydup is of the opinion that anyone can hang paper and paint. Which is true, they can. But, most would not be able to do a good enough job to charge for their services. Only takes one or two botched or unsatisfactory jobs for a reputation to be tarnished beyond recovery. I've lost count of the number of times i've been called in by the lady of the house to rectify the efforts of the man of the house.
You could, of course, RUN a painting and decorating business, employing proper staff, but to be a success in any business, your heart has to be in it.

[gingejbee]

...and investing in shares may be a quick way to lose part or all of your 10K unless you know what you are doing and/or take proper (probably paid-for) advice.

[Maydup]

I was being a little bit flippant and apologies to real painters and decorators, but the sadly anyone could buy a van and some brushes and set up in business.

Buyer beware.

[Canary42]

Open a brothel perhaps ;-P

[Ken4155]

^
True, maydup, but those that couldn't cut the mustard would soon be found out. And, in today's world of social interaction, their reputations would be ruined before they've even reached their next job.

[loulou111]

How do I close this thread now or can I deleate it
I've had second thoughts now think I just got carried away