What is a Small Business?
Simply put, a small business refers to starting or creating a business with relatively low capital, also known as “low-cost entrepreneurship.” How is it different from regular businesses? The following points summarize the characteristics of small businesses:
1. Mostly solo entrepreneurs or small teams
2. Initial capital typically under NT$100,000
3. Simplified business structure
4. Operated as a self-owned brand
Although small businesses require less initial investment, that doesn’t mean it’s easy. Entrepreneurship is different from a side hustle or part-time job. It demands a great deal of time and effort. In situations with limited manpower, entrepreneurs often need to handle multiple responsibilities, including customer service, sales, product development, and branding and marketing, in order to maintain business operations.
What Are Common Small Business Options?
1. Street food franchising
Franchise information is often found on Facebook groups or online, such as egg waffles, braised snacks, sweet potato balls, etc. These brands usually don’t charge high franchise fees, and training fees are often under NT$100,000.
2. Online e-commerce
Even without an original brand or product, you can start by using third-party e-commerce platforms, purchasing agents, or group buying. It’s low-cost, fast, and especially suitable for those without a specific direction or expertise.
3. Freelancing
Rising with the internet and the pandemic, freelancing has become a popular work style. It’s highly flexible and independent, suitable for people with specific strengths or professional skills such as web development, video production, and copywriting. The downside is its instability and unpredictable workload.
4. Social media marketing / content creators
Often seen as a dream job, such as YouTubers, TikTok creators, streamers, Instagram KOLs, and bloggers. They present content in various formats like videos, photos, or text. Personal charm is key in building an audience, and the traffic gained can be powerful.
5. Nail & lash salons
As beauty demands among women rise, more people are entering the nail and lash market, making it a popular small business option. In a competitive market, uniqueness and attention to detail in services and products will be the keys to standing out.
6. Dessert studios
If you love making desserts, starting a dessert studio might be the perfect choice! You can use Facebook fan pages and Instagram to share your creations, take orders through online forms, and offer delivery services—no physical store needed to run a vibrant business.
7. Online teaching
A popular learning method that grew during the pandemic. As long as you have a simple space—even at home—you can teach classes and share knowledge and skills anytime, anywhere.
Is Starting a Small Business Really Easy?
Challenges Commonly Faced in Small Business
Though small businesses use low-cost models and failures may result in smaller losses, there are still hidden disadvantages. Here are some common challenges:
1. Limited resources
Compared to companies with 20+ employees, solo entrepreneurs have limited manpower and funds. No one can be good at everything, so more time and resources are needed to fill the gaps.
2. Limited business growth
With limited capital, growth may be slower and less scalable, making it harder to expand quickly.
3. Intense competition
Due to the pandemic, many people started solo or small businesses, flooding the market. Starting a business is not difficult—surviving is. Creating differentiation is key to survival.
Small Business + Business Center = New Possibilities!?
High Return with Low Cost, Boosting Your Business Efficiently
Starting a business is tough, and you might not know where to begin. That’s where a business center becomes a valuable partner.
GTB Business Center and Hanse now offer popular personal/shared seat plans to help you hold meetings or work without hassle! Depending on your business needs, you can choose different pricing plans—whether it’s for a quick meeting or a focused setup with full office furnishings and refined decor, Dahan and Hanse can meet your needs.
Personal/Shared Desks: 2024 Hanse’s Latest Virtual Office Deals｜Current Promotions – Hanse Joint Business Space (hanse.group)
We’re now partnering with GTB-Space. Sign up and get NT$500 credits instantly—equivalent to a Co-working Day Pass experience!
Besides product quality and brand image, location and storefront also play a major role in standing out! We provide business registration services with a prime Xinyi District address, significantly boosting your image and first impressions.
Company Address Registration: Taipei Virtual Office｜Xinyi Address Registration, Phone Secretary, Communication Services – Hanse Group (hanse.group)
For entrepreneurs, expanding resources is vital. By using shared desks at Dahan and Hanse, not only can you meet like-minded partners and spark collaborations, but also become a member to enjoy exclusive benefits and resources!
On your entrepreneurial journey, let Hanse accompany you. Call our toll-free number now: 0800-535-808 and let’s make 2024 your year to shine!
Read more:
Private Office｜Solo Entrepreneurs’ Favorite — Enjoy a Distraction-Free Workspace!
Coworking Space as Your Mobile Office｜Hanse Group
Startup Process & Q&A｜Hanse Group Helps You Take the First Step!
