There is always a small starting of every big business. Now the question is “what makes them big & successful?” The answer is – Clear business strategies, strong business planning, and complete dedication. On the other hand, with newer technologies and processes emerging, new prospects for small businesses have also come into existence. Environmental concerns, the development of IT sector, the internet, and automation has created new and revolutionary ways to set business for new entrepreneurs with relatively less cost.
1. Income from Waste
Recycling waste products like plastic, paper, cloth, or metals and converting them into useful products can be a profitable business. Goods made from used materials have a good market platform all over the world and can be sold through e-commerce sites and by opening your store.
2. Social Media Optimization and Search Engine Optimization
Many businesses especially small business need the support of an optimisation service who can offer online, digital marketing support that is reasonable too. A very small team of content writers, SEO’s, SMO’s, designers, visualizers, creative directors, and marketing domain experts can give good support to small businesses.
3. Organic Farming
Setting up of orangery and promoting organic agriculture and bio-fertilizer production has the prospective for high growth given decreasing spaces in metropolitan areas and need to boost production in farming.
4. Real Estate Services
Real Estate – selling & buying residential & commercial properties and repair activities continue to be in high demand and are appropriate for small commerce. You can be a channel partner or agent of any prominent real estate developer and sell properties for some commission. For example, In the Gambia, you contact companies like Taf Holding and propose to be their agent.
Similar business models exist all over the world. In India, companies serve as an agent for a residential project called the Central Park 3 Cerise Suites and get good commission from the builder.
With more & more people preferring to buy online, there are new openings to sell products online- like processed rations, spices, cooked food, fruits, or any other groceries that are not offered by big e-commerce players.
Either you produce and sell or run an intermediary function between the producers and buyers. The e-commerce will be your primary distribution and payment channel.
6. Car Spa services
Do you know that more and more vehicles being sold all over the world? This growing demand creates the need for cleaning service providers. Car cleaning, polishing & maintenance service are high in demand. The speed and class of service offered by car spas make it attractive for car owners.
7. Career Counseling
Students are raring to go to pursue courses that offer an enriching career whether in their nation or out of the country. Students & parents are on the lookout for assistance in getting admission, Visa, and training support for exams in best universities or institutes. The achievement of the business enterprise would depend on hard tie-ups with colleges & institutes, quality of services, and training. The class of counselling offered based on the skill sets and ambitions of the potential applicants have an excellent behaviour on sustaining this company.
With rising per capita income and lifestyle, many people are preferred eating out not only full meals but for snacks & drinks. Coffee, mocktail & cocktail, ice cream, fruit juices, tea, and other fast foods are sought after by people, particularly on the weekends. For this location, a list of options, service quality, and atmosphere have a great impact on the victory of this type of business.
9. Event Management
Whether it is a wedding ceremony, a cultural program, a product launch, a family event, or a road show, event management firms have all the capability and plan to make an occasion a big hit. The asset in this commerce is more imaginative and managerial ability. The business comprises hiring good musicians, singers, stage designers, and organising matters and resources as per the requirements of clients.
With increasing health responsiveness, more and more people are now paying attention to improving their physical condition and health. Health gyms have new prospect to be a magnet for the people who are health conscious, harassed because of daily work, business, and daily pressures.
A gym can even be more valuable if it is run with some other personal health tips such as food, sleeping etc.
Above all, there are many new business ideas that require low investment. With some research and learning, you can implement the right one based on your situation.
About the author
Baldev Singh is a real estate advisor who formerly worked with many reputed real estate firms in India. Now he is a real estate advisor by day and a writer by night. His passion for helping people in all aspects of real estate investment through in the expert industry coverage he provides.