Small Business Ideas for Beginners in 2023 | Be Your Own Boss

Do you always have a desire of starting a small business, but facing troubles in forming a proper business idea? If you have the dream of becoming an entrepreneur, you should have an excellent idea, to begin with. Several small business concepts have the perspective of making your dream come true. But choosing the right one from them can be the toughest decision for you. Let’s guide you to make the right decision for starting your own small business. 

Small Business Idea for Beginners:

E-commerce Store:

An e-commerce store requires minimal investment. It has revolutionized the conventional style of selling products and/or services. It is quite easy to begin, and you do not even require lots of money. You can start your own store or sell the products to a popular company that will sell via any popular platform like eBay or Amazon.

Key Facts & Statistics:

• “E-commerce sales are expected to increase from 1.3 trillion in 2014 to 4.5 trillion in 2021 (Statista, 2019).”
• “Penetration rates, which are currently at 15 percent, are expected to increase to 25 percent by 2025(MarketWatch, 2020).”
• “Since 2016, sales made via mobile devices increased by 15%. By the end of 2021, 73% of ecommerce sales will take place on a mobile device (Statista, 2019).”

Starting a Blog

Nowadays blog is one of the most profitable legal ways of generating a good amount of money online. Sticking to it passionately can earn you good money. It is easy to begin and does not need a lot of investment. For this major reason, it is the most popular among the beginners’ business ideas around the globe currently.  

Select a niche, pick up a few topics, and then begin writing on those. You can start to work with affiliates and sponsors besides the income from Google Adsense.

Key Facts & Statistics:

• “The first blog was started by Justin Hall in 1994. (WebDesignerDepot)”
• “The content marketing industry will be worth $400 billion by the end of 2020. (QuoraCreative)”
• “In the United States, 31.7 million bloggers are blogging in 2020. (Statista)”

Freelance Designing, Writing, or Developing

The concept of beginning a business in the area of designing, writing and developing totally depends on the individuals’ talent. You can utilize your skills in assisting individuals around the globe with their various projects. Freelancing indicates you don’t need to engage yourself for long-run projects rather you have the flexibility to work when you have free time. Thus, you can easily choose something matching your schedule.  

Key Facts & Statistics:

• “Design has a 75% influence on a website’s credibility. (Source: Web FX)”
• “Websites that load slowly lead to a $2.6 billion loss in revenue every year. (Source: Web FX)”
• “Users spend an average of 5.94 seconds looking at a website’s main image. (Source: SWEOR)”

Tutoring

Tutoring or online teaching course can be a quite profitable business which needs less investment. For this, you need to have clear knowledge about the topic or subject and a personal channel or website. If you can make people understand things in an easy way, you will be able to make good money from it. It may need additional efforts for designing a site and then developing a series of high-quality video tutorials. But the income you will earn from it is worth giving these additional efforts into it. 

Key Facts & Statistics:

• “Projections show the e-learning market worldwide is forecast to surpass 243 billion U.S. dollars by 2022. (Statista)”
• “Back Students have also shown willingness to embrace digital learning technologies (DLT) and practices. (Statista)”
• “About 92 percent of students worldwide are interested in personalized support and information on degree progress. (Statista)”

5. Apps and Website Building

Apps and website building can be the best business concept for the people who have needed coding skills and are tech-savvy. You can develop apps or websites for the products’ and services’ sale. This idea has good prospects because:

• Technology is ever-growing and the demand for individuals having technical skills is also growing. 
• Numerous systems and platforms are available for you and you can shift from one to another if you get bored of one. 

Key Facts & Statistics:

• “Programming languages such as JavaScript and C++ are used in the process of creating software – in 2020. (Statista)”
• "JavaScript is the most popular programming language, used by roughly 70 percent of software developers. (Statista)”
• “Despite the temporary decline brought about by the coronavirus (COVID-19) outbreak in 2020, the market is set to retrieve the growth trajectory in the foreseeable future. (Statista)”

Catering Services

Catering services is one of the top but competitive money-generating business concepts for beginners. You can begin it without much hassle because you need a low investment. You can even have the option to function from home. The things you require are some servers, assistant cooks, a few event planners, and party agencies for ensuring the orders’ steady steam. 

Key Facts & Statistics:

• The largest catering company in the world is the UK-based Compass Group. (Statista)

• As of May 2017, over 13 million people were employed in food services occupations in the United States, including all those related to food preparation and serving. (Statista)

Dropshipping Store

A dropshipping store can be one of the nicest ways for starting a business within a limited budget. Here, you need to source an available product from a supplier, manage its functions such as packaging and order completion. You can skip the probable obstacles of a business if you follow this business idea. 

• You don’t need a physical location for your stock, so, you can operate the business from anywhere. 
• As soon as you get a purchase order, you place it with a third party. Then the third party carries out the total process for you. 
• You do not need to take the headache of things such as mail packages, inventory tracking, etc.

Key Facts & Statistics:

• A drop shipper generally sells an item for $8 and keeps $3 for herself/himself.
• Mostly, drop shippers target countries having higher purchasing power.

Online Selling of Art

If you have the talent of a good musician, artist, or photographer, you can use it by taking the talent on an e-commerce site and earn from that. You can choose this idea because of the following reasons:

• It will help you to be a part of someone’s home, office, and headphones.
• You will have the opportunity for showcasing your art on a wider platform.
• Your most loved thing will earn you money.

Key Facts & Statistics:

• “The global art market was valued at over 67 billion U.S. dollars in 2018, up from almost 64 billion the previous year. (Statista)”
• “When looking at different regions, North America held the highest share of the global art market, with Europe placing second. (Statista)”

Launching a Boutique

If you have unique and creative designs on your mind, you should try launching a boutique or a clothing line. Thus you can get a unique satisfaction of creating new looks for people. You can choose this idea because of the following reasons:

• Fashion is a thing that will continually grow in the upcoming future. So, designers and fashion lovers can have the opportunity to expand their businesses of boutique or clothing line.
• Nothing can be the best way when you can turn your creative designs into reality and earn money from that. 

Key Facts & Statistics:

• “Fashion consumers will also have more buying power, as the number of potential customers is projected to grow to more than 1.2 billion by 2020. (Shopify)”
• “The majority of these new consumers are within the 16 to 24 and 25 to 34 age groups. (Shopify)”

Pop UP Food Stall

Pop-up food stalls have minimal investments involved with greater possibilities of success. Currently, it is one of the simplest businesses. You can have an experiment with foods but you need not bring in lots of items. You can also work for carrying out specialized pop-up stalls. 

Key Facts & Statistics:

• “Popertee, a retail analytics firm, estimated the total cost of one 30-day pop-up at €29,085. (about $33,000). (Shopify)”
• "According to Retail Dive, the majority of consumers want to see and touch a product before they buy it, even if they’re purchasing it online. (Shopify)”

Event Management

Event management or providing party services can be quite profitable. Sometimes, people decide to throw a party but cannot plan all things in the correct way. You do not require so many things, beginning it is quite simple and easy than other services. You can assist your clients to implement events and parties properly with all the things they need. 

Key Facts & Statistics:

• “100% of event job posts require event logistics management skills. (EventMB, 2019)”
• “52.6% of event professionals are invested more in event tech than the previous year. (EventMB, 2019)”

T-shirt Printing Business

When you have plenty of unique and creative t-shirt designing concepts, you can apply them for starting a profitable business. You should have your t-shirt designs trademarked for starting this business with no hassle. Use various channels for having a strong distribution network. 

Key Facts & Statistics:

• “The global market for custom t-shirt printing industry is expected to cross 10 billion USD by 2025. (designhill)”
• “Custom t-shirts are a great way in developing a strong emotional bond with the company. (designhill)”

Babysitting

If you love children and love to spend time with them, you can begin a babysitting business. It is simple and does not include anything special. You do not need any investment when the service just includes taking care of other babies or children in their parents’ absence.

Key Facts & Statistics:

• “Only 2% of early years' workers are male. This statistic was found in a study based on 400,000 early years’ educators.(thelearningstation)”
• “Despite the need for more committed workers, men have generally turned off the idea of joining the industry. (thelearningstation)”

Daycare Services

Daycare services have a huge demand across the world and are quite popular among business ideas for beginners. You can make your business profitable with some experience. This business is simple, to begin with, and does not need a lot of investment. You may need to get some licenses and permits for starting this business.  

Key Facts & Statistics:

• “Over the five years to 2020, IBISWorld expects revenue to rise at an annualized rate of 2.4% to $54.6 billion.”
• “As COVID-19 (coronavirus) affected the overall economy, the unemployment rate spiked and disposable income declined, thus leading to an expected 8.1% decline in 2020 alone. (IBISWorld)”

Email Marketing Services

Still, email marketing is an effective tool for online marketing. It helps to create an interpersonal connection with clients and also the conversion probabilities are also high. This business does not need any extra functioning, so you can easily start. If you have the capability of writing attractive emails, organizations will outsource you for their email marketing projects. 

Key Facts & Statistics:

• “80% of marketers claim email is best for customer acquisition. (99firms.com)”
• “Email marketing has $44 ROI for every $1 spent. (99firms.com)”

YouTube Channel

If you possess some skills and talents to show, you can use YouTube for creating a platform. You can earn money online by showing your skills. But you require to keep making quality content for earning from YouTube ads. 

Key Facts & Statistics:

• First, you need to choose whether to entertain or accomplish. 
• You need to ensure quality. 
• You need to be committed to make regular videos for the channel. For instance, Derek Halpern has around 90 videos on his channel.

Social Media Manager

Small businesses sometimes require freelance social media managers. It is quite easy to do because you do not require any extra qualifications. It can also be a well-paid job when you can give proper leads to clients. You can utilize your skills for helping businesses handle their social media accounts by bringing effective leads. 

Key Facts & Statistics:

• “There are 3.48 billion social media users in 2020, with the worldwide total growing by 288 million (9 percent) since this time last year. (Source: We Are Social)”
• “Social media now has a global penetration rate of 45%. (Source: Statista)” 

Affiliate Marketer

You can earn money with affiliate marketing through promotions. Affiliate marketing is simply the process of earning a commission for marketing the products of another company or person. The affiliate looks for a suitable product, then promotes the product, and earns a commission from every sale they make. These sales can be tracked through affiliate links from one site to another. It is simple and free. You can use different social media platforms for promoting affiliate products and services. 

Key Facts & Statistics:

• “Since 2015, revenue from affiliate marketing programs grows by 10% annually. The projections are this impressive trend to continue at least until 2021. (Source: Business Insider)”
• “Affiliated marketing generates at least as much as email marketing, contributing to about 15% of the total revenue made through digital marketing efforts. (Source: Business Insider)”

These are some small business ideas for you who are the beginners. These ideas are easy to start, have wider markets, and do not require any particular skill or major investment. Whatever idea you select, you require following a total marketing evaluation checklist for ensuring your business’s success.

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