25 Best Small Business Ideas for 2020 – PART 2

Best Small Business Ideas

Business ideas come by at any given point of time to anyone. Every person dreams of being his boss and considers a variety of small business ideas. But then, there is a secret attached to a business idea. You ought to be systematic and thorough part from having passion and direction. Put the ideas together into a solid list of proven and practical business ideas. Evaluate which of these ideas would most likely work for you.

We have continued the list of best small business ideas for 2020 from part 1 for your easy and leisurely relading.

Related: Small Business Trends and Predictions for 2020

Podcasting:

If you are good at speaking or you are a story-teller, consider starting a podcasting business. Many private individuals have hitched a ride on the trend, thanks to the popularity of podcasts from newspapers and other media providers. It is a hobby being turned into a full-time business.

With an initial investment into the audio equipment and editing software, you can let the success speak for itself once you learn the fine art of talking, producing and marketing the podcast you will be churning out. If you are interested in online business ideas, podcasting can be done from home and completely online and it is a bonus.

IT Consulting:

Expert with computers or any type of technology? Consider starting an IT business by taking advantage of your knowledge. You will come across a lot of small businesses with limited budgets and resources hiring a consultant to help them with installing, updating, managing and troubleshooting their technology.

Being an IT consultant, you can support and service these kinds of businesses remotely or even provide on-site assistance, giving you the freedom and flexibility while working as per whims and fancy in the field you love.

Related: Emerging AI Trends To Watch In 2020

Catering:

If you have a passion for cooking or a professional chef tired of the restaurant routine, you could start catering service. It is a great opportunity in the world of self-employment. You would have to have a commercial kitchen, a part-time staff of servers, and a few assistant cooks to help you out.  Here, when compared to opening your restaurant, the overhead costs of starting and running a catering company is more manageable.

Social Media Management:

This is one marketing specialty that most business owners need, but few are capable of doing it well. If you are tech-savvy and can carry out most of your conversations with 280 characters, you could consider cultivating a client base of business owners who require help managing their brand’s social media platforms.

Business planning service:

If you an expert in successfully launching and running quite a few businesses, you have probably already crafted some business plans while you were at it. Having a business plan is critical for any business and writing it is not a process that most entrepreneurs have done. You could assist them with it.

The best small business ideas for expert business owners is to venture out a business planning service. If you are adept in the process of writing a business plan which includes business funding plans, market analysis, competitor research, etc., you will have clients queuing up to meet you.

Related: The Success of Small Business Structures Mystery Revealed

Tax Consulting:

Opening up a service especially for business tax is another small business idea you could explore if you are a CPA. Tax filing is any businesses’ complicated part of running a business. Your experience with all things tax-related will be in much demand from most businesses. Though seasonal, you can take up tax consulting as a vocation.

PR Agency:

You might have a background in public relations (PR) or could have a great network and knowledge of PR in the business space, You could explore the options of opening a PR firm. A PR firm is a small business idea that could go big in the long run.

Many small businesses with limited resources and budgets usually opt for smaller PR agencies to assist them with their public image and presence such as business marketing, press releases, events, media outreach, etc. Your prior experience in the field and your network acts as an advantage.

Photography:

If photography is more of a hobby to you, its time to change into a small business idea. Professional photographers are often summoned for corporate events, weddings, family portraits and more. Except for the initial investment in the equipment and a couple of editing software, you are ready to live your dream of being an entrepreneur. The freelance photography business is also picking up the pace of late and you could hitch a ride on the trend.

Event space:  

Start an event space business. If individuals or business owners are scouting for venues and spaces to conduct their corporate events or private functions such as weddings, birthdays, etc. Be the right person for them to approach you.

If you can offer event planning services along with the venue, or event partner with other local event planning business you could become a formidable team.

Graphic Design:

Having a background in graphic design and art or a related field can fetch you lucrative contracts. Like video production, images too are an important part of social media platform and graphic designers come handy to assist business owners in their business.  The tools needed for a graphic designer is minimal. With a few software programs such as Adobe, Sketch or Canva, you can operate this business from home itself, in a matter of days.

Try networking to find your ideal clientele in your community. Business owners and entrepreneurs usually look for a well-designed website, email campaigns, physical print work, and online materials, and it is a work cut out for a graphic designer.

To be Continued in Part 3

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