Are you looking for New Business Ideas that will make you rich?
Great, but remember success doesn’t come in overnight.
You will have to work very hard to achieve success. You’ll have to sacrifice your comforts to become a billionaire.
This is a difficult journey, where the night is dark and full of terrors (My favorite dialogue in GOT :p ). But if you’ve a real entrepreneurial spirit, you will have to deal with these terrors.
Today, starting a business is never been so easy than ever before. There is a lot of competition out there.
Everyone is trying to start a unique business which can make money. But thing is, if you come up with an awesome idea and you think it is a hundred percent new idea, then just Google it. You’ll get thousands of similar ideas in search results.
So, question is how you can come up with the best new business ideas that are sustainable and also profitable.
Well, the answer is simple. You’ll need to keep your eyes on the latest business and tech trends, and find gaps and opportunities. In this way, you can get some good lead ideas.
Decide Which Business You’re Going to Start
First of all, let me clear some myths or misconceptions you may have in your mind.
You are not going to invent a bulb for the first time. You’re not going to find a new fossil fuel reserve or going to make an aero plane.
You are going to start a business which can resolve the problems of the people. I mean to say, the current or future issues you need to solve.
Simply, find the problems of the people and brainstorm some cost effective ideas through which you can solve their problems.
Before you finalize any business idea, see whether it matches with your skills, abilities and most important interest.
Ask yourself, do you have any relevant experience in the niche which you’re going to serve. If yes, then it is a plus point for you. But if not, leave it.
How to choose a right business idea?
In the Harvard Convocation, Mark Zuckerberg said you cannot come up with a formal and structured startup idea. You’ll have to work on it until and unless you make your idea clear.
In spare time, explore internet and find a lists of new business ideas. Read one by one and choose the best small business ideas on which you can work on. Read top small business magazines and newspapers as much as possible to find current business trends and issues.
After that, make a list of small business ideas along with the required investments. Now, it’s time to further scrutinize and highlight those startup ideas which require low financing, have high sustainability, and profitability.
Pick a specific startup idea which gets highest score in your analysis and try hard to transform that idea into reality.
I know it is difficult to explore hundreds of websites with several lists of new business ideas. To save your time, I’ve compiled a list of new small business ideas with low investment you can start right now.
Explore the following startup ideas with respect to investment, profitability, skills and certifications and trends.
Small Business Ideas with Low Investment and High Profit
1. Freelance Business
According to Payoneer survey, six countries such as India, Bangladesh, United States, Pakistan, Philippines and United Kingdom are the clear cut capitals of freelancing.
This survey shows that freelancing is getting popular these days especially in Asian countries and also empowering people to make money online.
If you live in India and want to start a business with low no investment, then starting a freelancing business is one of the best new business ideas in India which you can start with no cost. You can also find some best business ideas in India here.
While starting a freelancing business, all you need is to have a skill set which you can monetize on freelancing websites.
But freelancing is vast field. You need to pick specific field to earn money. To elaborate this idea more in detail, I’m going more share specific ideas.
2. Web Designing and Development
These days, businesses are changing their models and shifting businesses offline to online. It means that they need websites to operate online.
Think about this, there are thousands of thousands business are operating in all over the world. If you can offer web designing and development services, you can make a lot of money.
What you need is to make your own website, do proper SEO and rank your website in Search Engine for more visibility. Get orders and deliver them on time.
3. SEO Services and Marketing
Search Engine Optimization is very important these days especially when you are running your online business.
Every organization wants its website to be number one in Google for more visibility, ranking, and also to increase leads and sales. You can help them to become number one in Google. Offer your SEO services and earn money.
With the passage of time, if you get more orders then make a team of SEO experts and expand your business.
4. Content Writing
Did you know Google is indexing millions of new pages on daily basis? Yes it’s true.
Thousands of thousands websites are operating online. All of them need fresh contents to compete with other websites.
If you’ve good writing skills, offer your content writing services to clients and earn dollars.
5. Content Marketing
If you have know-how about Content marketing, then don’t waste time and pick this idea from the mega list of new business ideas. Make this skill is your full-fledge business.
6. Social Media Manager / Agency
Usually, business owners have to manage lots of other important tasks. So, they outsource their tasks to freelancers. In these tasks, social media is one of the major tasks, people outsource to freelancers.
If you know how to manage and run social media pages effectively, try this business idea. Manager social media tasks and get paid on monthly basis.
7. YouTube Channel
After Google, YouTube is another platform where people make billions of searches to watch videos. You can entertain these people by publishing relevant videos on YouTube.
All you need is to create a YouTube Channel, upload quality videos with no copyrights and publish them. After some time, when you successfully get 10 thousands views on your videos, apply for Monetization Program (AdSense Hosted Account). Once you get approved, make money with videos. More videos more chances to make good money.
8. Blogging & Publishing Contents
Few months ago, Emarketer forecasted that US digital advertisement spending will be increased to $83 billion. Most of the advertisements are made through Google and Facebook.
If you’ve a low budget, think about this blogging business. Hundreds of bloggers are making good money from blogging and publishing.
Question is how you can make money with blogging?
Here are simple steps to get started.
- Buy a domain name along with Web hosting
- Create WordPress Website
- Get some good WP theme and install it.
- Write quality and SEO friendly contents and publish it.
- Monetize your blog with AdSence, Media.net or Facebook Instant Articles.
More traffic means more chances of monetization.
9. Blog Consultant
This startup idea is something related with blogging and publishing. If you’ve good experience in blogging and know each and every thing about blogging, you can also make dollars with this profession.
The good side of this small business is that you don’t have to spend money for starting a business. All you need is to utilize your skills and experience. That’s it.
10. Buy and Sell Websites
It is difficult to rank websites on Search engines. But once you successfully rank your site and start getting ton of traffic on your blog, you can sell your website to buyers and become a rich person.
You can also make this one time idea to a proper business. Visit Flippa.com, you will see hundreds of websites available for sale. If you find some good website and you think you can run it effectively or you can sell in double price, then purchase it and earn money.
In fact, you will become a website dealer just like real estate dealer.
Apart from that, you can also sell your smart phone applications and domain names.
11. Rental Websites
It is another one of the top 10 new business ideas that you can start with low capital. Companies often need ready made websites to promote their product and services online.
If you are a good designer and developer, make some websites and rent it to Companies instead of selling them. You can charge them on monthly basis.
12. Listing Websites
You may have seen some websites where you can find properties for sale, mobile phones, or available parking spaces in the city.
You can also launch a website where you can list anything. Do some internet research and find stats how many people in your area are looking for certain products/services. Once you find a right niche, create a listing website and make it your small business.
13. Sell your Voice / Videos
On freelancing sites, you can sell anything which seems to legal and ethically good. If you’ve a good voice and can provide good transcription services then why you’re wasting your talent? Monetize it.
Furthermore, you can also make attractive videos on behalf of clients and charge them accordingly.
14. eCommerce Sites / Online Shopping Stores
These days, people often make online purchases. This trend is already famous in United States, Australia and European countries but it is also popping up in Asian countries especially India and Pakistan.
Both countries have billions of population and their needs are increasing day by day. This is a big market where you can start a successful eCommerce business.
15. Drop shipping Business
Drop Shipping is one of the most profitable new business ideas these days. Due to increasing trend of online shopping, drop shipping is also getting famous.
If you want to start this business, conduct a detailed research on drop shopping. How you can start this business, what will your business model and how you can turn this startup idea into a profitable business?
So, these are the small businesses which you can start with little to no money. Now, I’m going to share more small business ideas which need certain skills and governmental licensing to operate.
Business Ideas That Require Specialization and Certifications
16. Accountancy Firm
If you are a certified public / chartered accountant, then you can also start your own accountancy firm. You can provide accounting and finance services to your clients.
Remember, different countries have different certifications such as
- Pakistan has CA from ICAP
- India has CA from ICAI
- Australia CPA
- USA CPA
- England has CA from ICAEW
Apart from that, ACCA is another certification which is globally accepted. Apart from that, you can also start a business which is supposed to be the bled of accounts and technology. For instance, developing accounting and financing software. This is one of the best new business ideas because you can sell your accounts related products again and again. And you will enjoy good profitability.
17. Tax Practitioner
Tax is a complex activity because it involves several state laws and regulations. If you are a qualified and certified Tax Practitioner then start your own Company and offer taxation services to individuals, AOP and Companies.
18. Legal Firm
Just like chartered accountancy firms, you can also register your own legal firm, if you’ve a law degree. Companies often hire legal firms on permanent basis to seek legal advices.
You/your firm can help them in legal matters and make money.
19. Consultancy Business
It is obvious that business may fail but consultancy business will never. It is a business which can be operated without having any kind of manufacturing costs. You will only have to bear expenses which are related to cost of sales (services) and in administrative (salaries & wages).
If you start consultancy business, you can provide any services to your clients such as educational, business or real estate.
20. Healthcare Business
Approximately 7 billion people are living in all over the world. All of them have different nationalities, cultures, races and colors. But all these people usually face one common issue which is health.
Every year people face number of health problems and they spend billions of dollars for healthcare services. Even healthcare professionals enjoy highest paying jobs in America. It means that this is a big market which you serve.
According to markets and markets, health care business intelligence market worth will be $4.7 Billion by 2018. On the other side, Pfizer estimated that the market worth of consumer healthcare business is $15 billion.
If you are a doctor, then it is a good opportunity to start your small business. You can start your own Healthcare Business in your area. If you provide quality healthcare services to patients, your startup tree will grow.
New Business Ideas for Future
Previously, I published an article in which I revealed some future business ideas that will become profitable startups in the upcoming years. In this mega list of small business ideas, I’d like to mention these startup ideas again.
- Outsourcing Business
- Internet of Things (IOT)
- 3D Printing Business Ideas
- Starting a Co-Working Space Business
- Investment in Real Estate
- Consumer Goods & Services Startups
- Healthcare Startups
- Consultancy Businesses (All types of consultancies)
- Collaborative Economy Business
- Investment in Renewable Energy Sector
Profitable New Business Ideas Based on Technology Trends
Furthermore, I’ve also compiled a list of future technology trends few days ago. In that content, I mentioned top 10 tech trends that will shape the future. The basic aim of sharing those trends is to let you know that technology has an important role in business and these trends can create excellent opportunities of techpreneurs. Check out the following trends and think how you can make things different. How you can take benefits from these future trends.
- Rise of Chatbots
- Increasing trend of Drone Cars
- Virtual Reality
- Internet of Things (New User Applications)
- Machine Learning
- Hyper Loop
- Data Driven Healthcare (Health and Tech based Startups)
- Clean Energy
- Cyber Attacks on Websites and other online properties
- Space Tourism.
These are the small business technology trends which involves lot of future investments. No doubt, if you start a tech based business and make good investment in this sector, you will definitely reap the rewards in the future.
Interesting Business Ideas
Now, I’m going to share some new startup ideas which are based on human necessities.
41. Food Business
You know that we cannot survive without having the basic necessities. Food is one of those fundamental necessities on which we rely most.
Population is increasing day by day. According to Census, the world population is round about 7 billion. It means that this figure will increase in the future. This statistics also shows that the demand for food products will definitely increase.
Basically, it is an opportunity for the business mindset people who want to start a sustainable business. If you are living in populated countries, then this is a good business idea to make money.
Food business is a broad niche. You can pick specific food niche and run your small business easily. Here are some more food startup ideas you can think about.
- Make and Sell Baked Goods
- Catering Business
- Cooking Instructor
- Personal Chef
- Nutrition Coach
- Become a foodie blogger
- Run a Food related YouTube Channel
- Food Processing Business
- Food Carts
- Online Grocery Store (Seems like eCommerce Store)
- Organic Food Store
- Clean and Mineral Water Provider
- Food Truck
- Purchasing Restaurant Franchise
New Business Ideas W.R.T Google Trends
Here are more new ideas for business which are based on Google searches and trends. Simply, go to Google Keyword Planner or related keyword research tools and find the search volume.
- Selfie Drones
- HIIT Equipment (High Intensity Interval Training)
- Mirrorless Camera
- Dash Cam
- Wireless Earphones
- Matcha Tea
- Beard Oil
There are hundreds of other things which people search on Internet (Google) to purchase products and services. What you need is to find the product which receive stable searches on monthly basis, make a website and start your eCommerce business today.
New Creative Business Ideas
There are also innovative and creative ideas that don’t require high investment but generate good income.
- Buy and sell Domains Names
- Patent Something
- Start a Popup Shop
- Proofreading and editing services
- Buy and Sell Goods (Become a Trader)
- Data Analysis (Statisticians or Survey Agency)
- Distributor (Distribution Company)
- Airbnb Host
- Yoga Trainer
- Personal Fitness Trainer
- Translation Services
- Tour Guide
- Travel and Tourism Business
- Dance Instructor
- Music Instructor
- Stock Photographer
- Investment in Startup Businesses / Angel Investing
- Investment Analyst
- Car Washing and Detailing Services
- Child Care
- Virtual Customer Services
- Real Estate Sales Consultant
- Fancy Jewelry
- Purchasing a profitable website
- Event Planning
- Amazon Seller
- T-Shirt Printing Business
- Public Speaking / Motivational Speaker
- Become Influencer (Influencer Marketing)
Small Businesses That Require Investment
Not all businesses can be started with no to little money. In all businesses, startup financing is necessary to keep the business live. But it depends how much money is required to get started? Some Businesses can be started with no to little capital but some business ideas definitely require high seed financing to start.
Here are I’m going to share some new business ideas that need investment.
95. Retail Business
As compare to Consultancy businesses, there are more chances that retail business may fail. But if proper startup planning is done and start in such a market where competition is low, you may become successful.
Initially, you will have to invest money to start. But if you don’t have much capital to invest, you can think about the acquisition of franchising.
96. Project Management Company
There is lot of projects start in the world. If you’ve expertise in the project management, then why don’t you start a project management company? Offer your PM services to your clients and get paid as per your demand.
97. Investment in Energy Sector
Apart from developed countries, there are several countries that are facing severe energy crises such as India, Pakistan, and also in African countries. If you are an investor, think about this sector. You can invest today but enjoy the fruits tomorrow.
98. Green / Clean Energy
This is another one of the trending new business ideas these days. The debate for clean / green energy is on peak these days. Every country is trying to promote this sector because the way through which clean or green energy is generated, is environmental friendly. You can invest your money in this sector. For instance, starting a solar energy business.
99. Making Roads through Plastic
When I first heard this idea, I thought it’s just a funny thing. But recently, I came to know that this is one of the best unique business ideas around the world which is highly appreciated by the governments.
Recently, I saw a video shared by World Economic Forum in which they mentioned, India is building plastic roads. The developers collect useless plastic throughout the country and then do some recycling process in order to use it in roads.
No matter, if you are living in United Kingdom, Australia, United States or China, you can easily find useless plastic which people usually throw into the trash. Collect as much as possible, recycle it and use it making plastic roads. This is one of the best business ideas to make money in the upcoming years.
100. Sell and Buy Businesses
I’ve seen several serial entrepreneurs who build profitable business. Once their businesses become successful or they feel they’re not becoming market leader. They sell their businesses.
If you’ve a business and you’re not moving forward, sell it and make money. This is another one of the top creative business ideas you can think about. There are several examples you can consider while selling your business such as WhatsApp, Instagram, PayPal and Bing. You can simply sell your business and start a new one.
On the other side, if you have a good bank balance, you can also buy a ready-made business. You will not have to do lot of marketing or do branding to kickstart.
101. Did I Miss Any New Business Ideas?
It is difficult to list all the new business ideas here but I’m still trying to add more entrepreneur ideas for the beginners in this list.
But if you’ve any unique and innovative business ideas, please feel free to share in the comment box.
Please give us feedback…………
- 17 Small Business Ideas for Small Towns, Villages & Rural Areas: Chaudhary Kaleem