With so many great business ideas for 2020, the rise of the digital economy, and the ‘economy of individual,’ more people than ever want to start running their own business. However, choosing the path of entrepreneurship is riskier than having a full-time job. First and foremost, it requires effort and some sacrifice.
Still, once you start seeing the benefits of being your own boss and working your way into making more money with your new business endeavor, it will all be worth it. All you need is the right business idea to capitalize on.
Here are a couple of the most relevant business ideas in 2020:
1. Skilled Trades
It’s regrettable that nowadays many people tend to neglect skilled trades, mostly due to the misbelief that they are poorly paid. Quite to the contrary, skilled tradespeople are typically well paid and enjoy their careers.
2. Software Engineering and Development
A software engineer and developer’s job is to design, develop, maintain, test, and evaluate a variety of computer software. It is expected that the demand for software developers will increase by 21% through 2028. Many who choose this career start as salaried employees and later on become self-employed contractors.
3. Virtual Assistant
One of the best and most successful business ideas is to offer virtual assistant services, especially during the global pandemic. Everyone from big enterprises to solopreneurs needs help with the day-to-day management of their business. With your excellent organizational skills, you can take some weight off their shoulders and get paid for it.
People who speak several languages are always in demand, so if you speak at least two or more languages, you can consider starting a business where you can monetize that skill. With time, you can hire more translators who specialize in other languages and expand your business offerings.
5. Website Flipping
This is a new business idea that has everyone, from those who graduated to those who already work from home, very excited. Website flipping involves buying a running website, improving its design and content, and then selling it for a profit. Once the website starts generating more revenue than when you bought it, you can list it for sale.
6. Online Tutoring
Are you an expert in math, art, or any other subject? Then you can start the business of online tutoring. The essential prerequisite for this job is to have a bachelor’s degree in the subject you will teach so that you can properly share skills and constructive knowledge of the matter.
7. Content Writing
Practically every company with an internet presence needs help with creating content for their website pages. Therefore, starting a copywriting business could be one of the most profitable ideas out there. Additionally, you can offer keyword optimization or custom graphics as part of your services and make a really good impression on your future clients.
These are just some business ideas that can help you earn a decent income even after a modest start. Make the right choice depending on your interests, skills, and of course, pocketbook size. If you need help with becoming a successful entrepreneur, feel free to contact us!