What is the Best Business to Start With $200K in a Startup Budget?
With so many options available, what is the best business to start with $200K in a startup budget? There are several industries that are growing rapidly, and you can often find a business with a low investment threshold. The healthcare industry is an example. If you have the skills and knowledge to handle this type of work, you could start a medical billing business. You can also set up a practice management business. This type of business requires minimal start-up capital and allows you to work anywhere in the world.
Another option is to invest the money in real estate. This is an excellent way to earn a monthly income while preserving your initial investment capital. By purchasing a property, you can also benefit from hedging against inflation, generating recurring rental income, and enjoying property appreciation over the long term. You can choose between a hands-on business and a passive business model depending on your interests and skills.
For an investor who has the money to spare, investing in a traditional IRA is not a bad option. You can earn 3% on your capital, which is higher than your average savings account. If you have a larger budget, you could invest in free bitcoin. This way, you will earn interest on the money and be able to use it for a higher-profitable business venture. Axos Bank offers high-yield savings accounts that have no minimum balance requirement or monthly maintenance fees. You could earn $1,220 annually for a $200 balance.