There has never been a better time to start a business. In our hyper-connected digital age, you can set up a website, online store, and entire brand from anywhere in the world.

Online business-building tools have never been more accessible—and with the right approach, you can grow a loyal customer base quicker than you might think.

If you’re wondering how to start a business in 2023, we’re here to help. In this guide, we’ll look at the essential steps you need to take to make your business a real success. Here we’re going to cover:

FAQs

Ready? Great. Let’s get started.

Related: How to start a business

1. Find a business idea

First of all, to enjoy sustainable commercial success, you have to find a business idea that is not only feasible but something you feel passionate about.

If you have a shortlist of business ideas in mind, dig a little deeper by carrying out a little market research. Look at brands in your potential niche and find out how their consumers engage with them while looking at overall demand based on public sales or growth data.

Doing so will give you inspiration for your own business ideas. Armed with your market and competitor research, you can develop your ideas by considering:

• What am I passionate about?
• What are my specific skills and expertise?
• Which subject matter am I most passionate about?
• Can I feasibly sell or promote the product or services in my potential niche?
• What unique spin can I put on well-trodden business ideas or concepts to stand out?
• What gaps or weaknesses can I exploit in my potential niche or market?

Ask yourself these questions and you’ll eventually land on a business idea that has the potential to scale while keeping you engaged and inspired in the long term.

Related: Read our guide on essential small business ideas for more small business inspiration.

2. Use market research to validate your idea

Once you’ve landed on a solid business idea, you’ll need to see if it has any legs. We just touched on the concept of market research, but now we’re going to drill down a little deeper.

When brainstorming business ideas, you will have scratched the surface. But, to really validate your concept, you must get under the skin of your industry as well as your target audience. In addition to gathering industry insights and data, you should build buyer personas that represent your ideal target audience.

During this phase of the operation, it’s also important to conduct extensive market research as well as market analysis. Here are some market research and analysis ideas for your consideration:

• Conduct consumer surveys across channels (phone, email, social media, mobile app, etc.).
• Hold focus groups to gain a deeper understanding of how your target audience might perceive your brand and what you have to offer.
• Observe how your target audience engages with potential competitors on social media as well as the related subject matter they’re discussing online.
• Explore public data related to your target market to uncover consumer buying patterns as well as sales trends. This will help you validate your idea while giving your business planning a definitive direction—which brings us onto our next point.

3. Create a business plan

Now your idea is validated and you’ve got a handle on your target market, you’ll need to start planning. When it comes to knowing how to start a business, developing your plan methodically is a vital skill. Here are some tips to help you navigate the process like a boss:

• Consider your “why”. This will help you gain an understanding of your key motivations for starting your business as well as what you want to achieve
• Outline plans of action or initiatives  that represent your brand mission and what you do
• Define your key business goals using timelines and milestones to keep you on track
• Write an executive summary that states all essential information related to your business’s aims, goals, and products

To break down each step in more detail, read our essential guide on how to write a business plan and use our official business plan template to make sure you don’t miss anything important.

4. Get funding, explore finance options

To get your business off to a flying start, you’re going to need to get the right level of funding. The funding options you explore will depend on the type of business you’re looking to start.

If you’re looking to start a solely online business and scale up, you could use your personal funds or savings to get up and running. Doing so will give you complete control on your decisions, allowing you to scale the business on your own terms. But, it’s worth noting that if your business struggles or fails to achieve profit, you will be solely responsible for paying back any debt.

Other business funding options include:

• Crowdfunding: Using dedicated crowdfunding platforms, you can inspire people to donate to your business venture in return for incentives or equity. This can be a very effective form of fundraising—and there have been many crowdfunding success stories over the years.
• Gain a line of credit: Akin to obtaining a personal line of credit, you can gain a line of business credit. The terms, limits, and interest rates will depend on the nature of your business as well as factors including your financial history and credit rating.
• Get a grant: Another way of securing a healthy level of funding for your business is getting a grant. If your business mission is rooted in building a better community or inspiring innovation, you could be eligible for a healthy grant from the Federal Government.
• Pitch to investors: Researching investors in your niche and pitching to them is an excellent way to get funding as well as professional backing and expertise. This is certainly an avenue worth exploring if you’re looking for startup capital as well as help with your business’s launch and development activities.

Interested in learning more about planning for business funding? Our guide covers the cost to start a business in full detail.

5. Choose a legal business structure

When starting a business in 2023, settling on a water-tight legal structure is vital. Before you officially register your business, you have to decide on a concrete business structure—and the type you choose will impact your business from a legal standpoint. So, take your time when considering these structures.

Sole proprietorship

If you own your business independently, you can opt for sole proprietorship. This means that you will have full autonomy over your business, but you’ll be responsible for all debt, obligations, and finances.

Pros:

• You will be in full charge of business decisions, development and planning
• You will receive all of the business’s profits
• You will find filing for tax simpler

Cons:

• Managing everything on your own could burn you out and limit your potential for growth
• If you hit financial hot water, you will be liable for settling any debts or arrears

Partnership

Combining forces with another budding business owner will give you double the startup as well as another person who is liable for the red tape as well as the financial aspects of the business. More often than not, two heads are better than one—forge the right partnership and you could see your business thrive from the get-go.

Pros:

• You will have twice the skills, perspective, and financial scope
• You will have another person who is responsible for the running as well as financial and legal aspects of the business

Cons:

• If you and your partner disagree on any aspect, this could cause the kind of friction that could derail progress and stunt growth

Corporation

As a corporation, you will separate your personal assets from your business assets. This means that while your company can incur debt and be subject to legal disputes, your personal finances and assets will remain protected. There are many different forms of a corporation to consider, some of which offer access to some pretty decent investment opportunities.

Pros:

• You will gain access to excellent capital options
• You will benefit from certain tax breaks
• You will be able to protect your personal assets

Cons:

• Corporates can be costly to form and run
• There can be a lot of red tape involved in the running of a corporation

Limited liability company (LLC)

This type of business structure is one of the most common options for new businesses. As a limited liability company (LLC), you will benefit from the legal protection of a corporation while also reaping the tax rewards of a business partnership.

Pros:

• The setup process is relativity straightforward
• You will gain access to a healthy choice of capital and funding options
• You will have a certain level of protection concerning your personal finances

Cons:

• Your investment options can be limited with an LLC
• You can be subject to fairly costly annual maintenance fees

Want more information on how to start an LLC? Our guide has you covered.

Weigh up the pros and cons of each business structure, taking your aims and goals into consideration. At this point, you will want to brainstorm a catchy business name to make it official and bring your brand to life.

Once you’ve decided on your brand-boosting business name, you secure the appropriate domain name.

6. Register your business and get the required licenses

The next step in your how to start a business journey is registering your business and getting any required licenses.

By choosing your business name and settling on your business structure, you will have already started the registration process. To complete the registration process and obtain the right licenses, you will need to:

• Check the full registration requirements depending on your legal structure
• Work though the registration requirements of any regions where you’re looking to trade or operate
• Register for any taxes
• Obtain an employee identification number (EIN)
• File any relevant trademarks
• Find out which business license is relevant to your organization and start the application process

7. Open a business bank account

With your business almost up and running, you’ll need to open a bank account. In 2023, there is no end of choice when it comes to setting up a business bank account.

You should choose a bank account with benefits and features that suit your business’s size as well as your goals.

Tip: Create a shortlist of business bank accounts with flexible loan options as well as excellent customer service and online banking applications.

To set up your business bank account, you will need:

• Official business formation documentation
• EaIN or tax ID numbers
• Your official business name and location
• Date the business was  set up or established
• Your  Social Security number, address and date of birth

8. Get business insurance

In addition to opening your bank account, you will also need to get business insurance. If you don’t, you could find yourself footing a colossal bill if any unexpected issues, damages or disputes arise.

Even as a small business, you will need to cover yourself with the right kind of insurance to protect yourself against any eventuality. At the minimum, you will need general liability insurance (GL) to cover you for loss, injury or damage to yourself or a third party.

If you’re offering a service rather than tangible goods, it will also pay to get professional liability cover incase of any consumer-facing mistakes you might make. Also, as your business scales, you might also consider employment practices liability insurance. This type of cover will protect you against any potential employee claim or complaint.

9. Build your website

At this point, you will be ready to build your website and bring your business to life. Your website or online store will be the digital hub of your entire business—so getting the design and the functionality just right is essential.

If you’re interested in starting a website for your business, here are some hand-picked resources to help you out:

Tip: To build an online store that is slick, wonderfully designed, and easy to navigate, try the powerful and easy-to-master GoDaddy website builder. Or build an online store with our slick and savvy ecommerce tool. And tie your business together with a GoDaddy POS system to accept payments anywhere.

10. Launch and grow your business

“There’s no shortage of remarkable ideas. What’s missing is the will to execute them.”—Seth Godin

If you’ve followed all of the steps in this how to start a business in 2023 guide successfully, you’ll be ready to launch.

Once you build a buzz about your big business launch across various channels including email and social media, you can start selling and take measures to grow year on year through marketing campaigns and sales initiatives.

Starting a business in 2023 is a challenging but potentially rewarding venture. Be persistent, play to your strengths, take the time to ensure you’ve covered every base, and you’ll be winning on the commercial battlefield in no time. Best of luck.

FAQs:

How can a beginner start a business?

A beginner can absolutely start a business. As long as you have a clear idea of your goals and a passion for what you do, you can make your business a real success. Follow the steps in this guide and you’ll be up and running sooner than you might think.

How much money do you need to start a business from scratch?

The cost of starting a business will vary depending on your industry or business model of choice. But, research from the US Small Business Administration shows that most small businesses cost around $3,000 to get started. And, the majority of home-based ventures cost $2,000 to $5,000 to set up.

Can I run a business by myself?

There is no reason that you can’t run a small business by yourself. With the right resources and the right approach, you can set up, launch, and operate your business. Going solo is more than possible, but with so much to consider it’s a huge undertaking. As your business scales, hiring a small team or getting a partner on board will be a good idea. That way, you can further accelerate your commercial growth.

How do you create a legal organization?

To move your business idea into a legal organization, here’s a quick rundown of what you’ll need to do. First, come up with a unique name for your business. Next, figure out what kind of business structure works best for you, such as a sole proprietorship, partnership, LLC or corporation. Once you’ve got that sorted, pick a good location for your business and make sure you’ve got all the necessary permits and licenses. Then, get all your paperwork in order and register with your state. After that, it’s time to set up your financials, like opening a company bank account and staying on top of your taxes. Just remember, forming a business can be a bit complicated, so it’s always a good idea to chat with a tax advisor or lawyer to make sure you’re doing everything right.

What is the easiest business to start?

A service-based business is often considered the easiest to start as you don’t have to deal in physical stock or inventory. But, in 2023, it’s never been more accessible to set up and launch a successful online business. In the digital age, tools exist to help you set up an ecommerce store or build a website without technical expertise. Follow the right steps and almost every kind of business will be within your reach.

What is the simplest legal form to start a business?

A sole proprietorship is the easiest business legal structure to set up. If you have a little capital of your own, you can apply for a sole proprietorship with ease. You will have complete control over the entire business, but be aware: you will be responsible for the financial as well as legal aspects of the business.

When you start an LLC, it’s  an exciting time for a business owner, but it can also be daunting. There’s a lot to think about, from paperwork and certification to registration and more.

We’re making the process as simple as possible in this six-step guide. We’ll take you through the LLC journey from picking a name to registration and forming your LLC. It’s important to note that how you start an LLC will depend on the state you’re in, so check local legislation as you go.

In this article:

6 steps to create a business

1. Choose a business name
2. Find a registered agent
3. Get an EIN (Employer Identification Number)
4. File the Articles of Organization (Certificate of Formation)
5. Create an Operating Agreement for your LLC
6. Additional things to consider when creating an LLC

More about the LLC

1. Choose a business name

Every business needs a name. Before registering your business, make sure the matching domain name is available. The last thing you want is to choose a name to find it’s already in use or trademarked.

Enter your desired domain into the search bar and hit Buy It. If the domain is available, it’ll be there for sale; if it isn’t, GoDaddy will provide options that might inspire you.

An available domain indicates that the business name is available, but do your due diligence and check via registration offices.

There may also be state restrictions on words you can use within your business name. Restricted words might include ‘bank,’ ‘trust’, ‘trustee’,’ or ‘corporation.’ Basically, your business name must reflect your business and not be misleading.

Once you’ve confirmed your business name is available for use, you can buy a domain, choose a web hosting plan and create your website for your own online business.

For more information on the importance of domains, check out the video below.

2. Find a registered agent

Appointing a registered agent is a must-do in the process of starting an LLC in most states. Your registered agent will generally need to have a physical address in the state in which your LLC is registering.

The role of the LLC registered agent is to pass important documentation to key personnel within the LLC. Your registered agent will forward documentation such as legal notices and tax forms. Your registered agent should notify you of any legal issues at your earliest convenience. It’s an important role and if someone within the company is going to take it, they need to be diligent.

In many cases, the option for a registered agent service is highly desirable. This way, you can hire someone (or a company) to handle the legal and administrative tasks of being a registered agent. Hiring someone is especially useful if there’s no one qualified or happy to take on that role within the LLC. Or, if there’s no physical address within the state the company is registering in.

3. Get an EIN (Employer Identification Number)

Your EIN (Employer Identification Number) is a unique number given to you by the IRS. It is essential for many types of activities, including opening a business account, hiring employees, filing taxes (the EIN is used to identify the business), applying for licenses and permits, and more.

Essentially your EIN proves you’re an established business.

4. File the Articles of Organization (Certificate of Formation)

Your Articles of Organization (aka. Certification of Formation) is a form that you can pick up from the state’s Secretary of State.

You will need to file the form and provide the information required. Each state has its own form so it’s important to make sure you’ve picked up the correct one. You can expect to fill out your typical information, such as the company name, business address, names and addresses of the LLC owners.

When it comes to submitting the form, you may need to pay a filing fee. The fee will vary between states. You might find it’s as little as $50, but it can cost around $100 and more.

5. Create an Operating Agreement for your LLC

Your Operating Agreement is a bit like a contract between owners. The document is legally binding and outlines how the LLC will be managed. Importantly, the Operating Agreement is in place to outline how profit and losses are shared.

Although the Operating Agreement is a legal document, you can see how this agreement could be used to resolve potential future conflicts. The agreement means that all owners are aligned on some of the most important aspects of starting an LLC.

When creating this agreement, it can be helpful to work with a lawyer.

6. Additional things to consider when creating an LLC

Finally, take a moment to think about any other items that are state-specific, or necessary to start your LLC with the best possible foundations.

Some extra considerations might include:

• Setting up a business bank account. Although a separate account to manage business finances is best practice for any business, when you start an LLC, you want to be especially diligent in keeping your personal finances from your business finances. This will make tax returns infinitely less confusing, and you must remember, with an LLC, you have a business that is a separate entity from you, so it will have its own bank account.

• Obtain permits and licenses. You might need specific licensing and permits depending on your industry and location. Be sure to check that all your paperwork is neatly gathered and legally compliant.
• Registering to do business in other states. If you’re registered in one state but have assets or employees in other states, you may need to register to do business elsewhere. This is dependent on the states you’re working within. If you need to register in other states, you’ll need a registered agent there, too.

What are the benefits of an LLC?

There are benefits to starting an LLC, and below we’ve listed some of the most desirable reasons why you might want to switch to an LLC business model.

• Limited liability protection removes liability from you personally. Your business becomes its own entity, responsible for its own debts or legal obligations.
• Pass-through taxation allows owners to take earnings without paying tax first. The profits and losses pass through to the owners’ personal tax returns.
• Easy to form and maintain (especially now that you’ve read this article). LLCs can be set up in as little as six steps.
• Business credibility is developed from having a registered LLC business. It could even help secure higher ticket clients or help justify price increases.
• Transfer of ownership is easy and flexible for LLCs.

Your questions about starting an LLC, answered:

It’s common to have a lot of questions before deciding whether or not to make the leap into an LLC business. Here, we’re answering commonly asked questions.

What is the lifespan of an LLC?

The lifespan of an LLC varies, but some states require LLCs have a lifespan of 30 years. In some states, the lifespan of an LLC is indefinite and can continue until the owners dissolve it.

How do you make money with an LLC?

You can make money as part of an LLC as you would in any business. Your LLC might make money buying and selling products through selling services or offering memberships and subscriptions to customers.

The main difference is how you make money with an LLC. As the owner, you might also be contracted to work. So your LLC pays you a wage.

Should I pay myself a salary from my LLC?

You should seek financial support before deciding how to pay yourself through your LLC, but as above, there’s an option to pay for contracted hours for services benefitting the business. Or, as the owner, you can take distributions.

What is the downside of an LLC?

Managing an LLC requires some further work that could be perceived as a downside. For example, you will need to manage paperwork and filing differently. If you used to manage taxes alone, you might start considering an accountant to help manage your finances as you start an LLC.

Can I use my personal money for my LLC?

As a business owner, you can use personal money to fund an LLC. This is particularly common in the early days of starting an LLC.

Final thoughts on starting an LLC.

Owning and managing an LLC doesn’t stop with the six steps feature above. Once you know how to start an LLC, you must look after it and keep your new-found LLC in line with the state’s ongoing requirements. You’ll need to file reports and accounts accordingly. And on top of that, you must keep an eye out for potential changes in legislation.

Whilst it can feel overwhelming, there are attorneys and accountants to help you take the right steps when starting an LLC. And, when the time comes to managing new legislation, you’ll feel ready to tackle it when the time is right.

Starting a business in 2023 needn’t be overwhelming. I get it, there’s a lot to think about and as a new entrepreneur, there’s one thing on your mind: money. Can you afford it, will the business sustain you, how will you juggle your side hustle alongside your life commitments – maybe even another full-time job – exactly how much does it cost to start a business in 2023?

No doubt, there’s a lot to think about, but the more you think the more reasons you’ll find not to follow your dreams and that’s the last thing I want for you.

So, instead of overthinking, read through this comprehensive guide including a breakdown of startup costs and tips to manage costs at every step.

Fixed costs to start a business in 2023

The fixed costs of your startup will depend on the type of business. As a freelancer you can start up a business for $0, assuming you already own a PC and have access to Wi-Fi.

Businesses that need more involvement from operations, products or digital assets like websites may need to spend more.

The cost of your business will be unique, but you can use the guides below to determine how much it costs to start your dream business in 2023.

Domain, website or online store

The majority of startups need a website either to trade and receive enquiries online or for a presence in Google search and Google maps for local search.

That said, if you’re starting a service-based business you may be able to drum up business without a website by using social media platforms like LinkedIn. This is what I did for two years, keeping my start-up cost at $0.

To save the cost of a website, ecommerce stores can create shops on Etsy and pay minimal fees to upload products. Then, it’s just a commission on sales. Alternatively, you can start affiliate marketing on TikTok which costs nothing to set up.

While free alternatives are great, at some point your business will likely grow to a point where you want a more robust online presence. And ecommerce merchants should be prepared to source a point-of-sale (POS) system or technology allowing them to accept online payments.

For entrepreneurs who need a website, start by sourcing your domain and hosting.

In general, non-premium domains cost between $1 to $20, depending on the deal you are getting and the number of years you decide to register the domain for. To explore prices buy a domain and search for your desired website URL.

Tips for managing the cost of domains: you can cut costs by exploring cheaper domain suffixes. Generally, but not always, .com or .co.uk will be more expensive than .co, .io, .site, .shop. There are a lot of domain options so spend some time exploring suffixes and pricing.

Your website host is required to get your site on the internet and in front of customers. You’ll need to web hosting.

Tips for managing the cost of hosting: pay annually or for many years in advance to save money.

Website design and development

For those who need to create a website you can use drag-and-drop editors. This is perfect if you really want to cut costs. You can build brochure websites or use the online store builder if you’re starting with ecommerce.

If you’re not willing to create the website yourself, then don’t fret because there are affordable website design services to guarantee a website you (and your customers) will love. I’ve known entrepreneurs who started with websites that are quite affordable.

Tips for managing the cost of website design and build: if the thought of designing and developing a website is overwhelming, but you want to save costs, commit a couple of hours to creating a website with GoDaddy. I promise it’s easy and you might surprise yourself.

While you’re creating a website, consider creating a logo to display on your web pages and other brand collateral. Services like GoDaddy Logo Maker are free and let you quickly snag this key piece of branding.

Legal costs to register a business

Legal costs vary hugely between types of business and the required legal cover. If you’ve figured out how to create an LLC and you’re ready for the costs associated you can expect to pay anything from $485 to more than $1,000. Of course, this depends on what you can do yourself. More savvy start-ups may be able to tackle some of the legal requirements, thus saving money.

Tips for managing legal costs: consider the essentials. As a new business owner, it can be tempting to cover your business from every angle, but this may not be required at the very beginning. Consider what’s a must-have to start up, then take note of what you can purchase later and when it’s needed.

Marketing

Marketing is one of the most flexible costs when starting a business. The options are endless.

At the cheapest, GoDaddy can support your business from $85/month, but a more multi-channelled approach will cost $500/month*.

The good thing about marketing is that you can do a lot alone. If you’re happy to manage social media platforms to drum up business, you can do well without spending a penny. It is time-consuming so that time investment must be considered.

If you’re thinking about marketing your business with ads then you need to consider the cost of ads versus the benefit. Generally, it’s not useful to start with a budget that’s too small simply because you won’t get the data you need to decipher a good ads campaign from a bad one. Don’t start an ads campaign until you’re ready to commit.

Tips for managing marketing costs: choose your marketing channels carefully, and do your research to find out which one is likely to have the biggest impact. It’s better to cover fewer channels well than many channels poorly. After all, you can always scale once you’ve nailed one platform.

Variable costs to start a business in 2023

Some prices are incredibly variable depending on location and the needs of the business. These items are listed below.

Physical location

The beauty of starting a business in 2023 is that many businesses won’t need a physical location, but if you’re opening a brick-and-mortar store or plan to work in an office you’ll need to think about rent or mortgages.

Products or inventory

If you need to buy and hold stock you’ll need to outlay an initial investment upfront. The cost will vary on the units required. You can manage these costs by thinking carefully about what you’re likely to sell. Another consideration is what you can sell if you buy stock in bulk.

Tips for managing product and inventory costs: ask suppliers about their minimum order quantity (MOQ) and how costs vary on quantity. Also, consider drop shipping so you don’t have to outlay any costs at all.

Staff

Staff costs depend on seniority and location. You’ll need to consider the minimum wage of your state, but the federal minimum wage is $7.25.

Tips for managing staffing costs: businesses trading online can outsource work to talented new freelancers or over-pay freelancers in different parts of the world. You can also take on more work yourself or turn to software and AI to support your business.

Taxes

Beyond the initial registration, startups need to consider tax. The rules surrounding tax vary so you must check the rules within the country in which your business is registered.

Paying your taxes usually means putting a percentage of your income aside to cover the costs, monitoring and recording your expenses to account correctly for tax write-offs or hiring an accountant to manage taxes for you.

Tips for managing tax costs:  the more self-efficient you are, the less you need to pay an accountant. Many small businesses can manage the early tax returns alone, but a growing business will likely need an accountant eventually. Manage the costs by putting money aside regularly.

On-going expenses

As a small business you’re likely to have ongoing expenses. You may not start with them but over time you’ll likely invest in subscriptions or software. Or, you might have shipping to consider for e-commerce. Costs will vary based on your requirements.

Tips for managing ongoing expenses: on-going expenses can creep up on business owners so be mindful of monthly subscriptions and the well-intentioned software you purchased. If you’re not using it, you’re throwing away money.

Unexpected costs

No matter what, any business is likely to be hit with an unexpected cost, eventually. Prepare for the unexpected by holding a budget to get you out of an emergency situation. Unexpected costs could include your sickness, the need to hire a consultant to solve a problem fast or if you’re in a brick-and-mortar store something could go wrong within the building.

How to fund your startup or small business

Getting funding for your new business is likely on your mind. Here are some common ways to earn funding for your start up.

Personal investment

Funding your business on your own can be a safe option. It removes the stress of meeting investor expectations and it can feel really good to know you build your new business with your own means.

Personal investment may require you to save for a few years before you get started, but freedom from other stakeholders can be highly desirable in the early stages.

Borrowing money through contacts

You can opt to borrow money from your personal contacts, friends and family, for example. If you choose to go down this route it’s really important to treat it as you would as a formal investment: draw up contracts, separate personal and businesses conversations. Be very clear on what the contract is.

Loans

Securing loans from banks is an option for funding. Generally, banks provide calculators on their websites so you can gage what you might be able to borrow. Be aware that it isn’t easy to get accepted for a bank loan, 80 – 90% of startups fail so banks are naturally careful who they lend money to.

Create a budget for your first year

Let’s take a look at various cost summaries for businesses with varying needs.

Freelance business

Your freelance service-based business cost summary is one of the cheapest businesses to start, it might look a bit like this:

Service-based business

For those starting a service-based business and desire a more professional appeal can kick off a new business venture with a functioning site.

Here’s what the cost summary can look like:

Marketing costs for the first year

If you choose to work with a service provider like GoDaddy your digital marketing services can be covered for as low as $85.00/month.

Businesses you can start with a small budget

The digital world has opened a world of opportunity when it comes to starting a business for free or with a small budget.

Assuming you’ve got a PC, wi-fi and a desire to work or use social media to generate leads, you can start any of the following small business ideas, for free:

• Freelancing in digital services like writing, SEO, PPC, social media management or email marketing.
• Freelancing on platforms like Upwork or Fiverr.
• Affiliate marketing through social media platforms like TikTok. You will need to gain 1,000 followers before you can start this one.
• Consulting in a skill you already have (or can learn for free online).

Local services you can start with little to no start-up costs:

• Dog walking
• Babysitting
• Homesitting
• Handyman
• Tutoring

Some businesses require a small budget to start, for example:

• Selling digital downloads on Etsy. You’ll pay a small fee to upload products, but then nothing until you make your first sale where you pay a percentage to Etsy.
• Dropshipping
• Selling on eBay.
• Print (assuming you’re doing the printing)

Closing thoughts on starting a business in 2023

Today, there is a lot of technology out there that can boost the success of your business. While there might be expenses associated with it, don’t forget the financial rewards that come with a successful venture. Keep that momentum going and make 2023 the year you founded a business to be proud of.

*Pricing data valid on March 2023. All prices listed are subject to change.