If you want to make the most on your investment, you should open a business about something you're skilled in, whether it be a service you can provide or a product you're knowledgeable about, so you can make the most return on your money, given the small budget. You don't have much room to screw up.
Since you're asking for ideas here, you're going to pursue a business you probably don't know anything about, you'll blow your $300, and be right back here, minus your initial investment. Best to think inwardly before relying on the advice of people you don't know.