Does it feel like all the good business ideas are already taken? Does starting a successful business seem like a time-consuming and arduous task that may not yield the desired results?
The truth is that there are dozens of businesses that you could start today that would fill gaps in the market and help you generate an income. All you need is a little ingenuity, some self-motivation and a strong business plan, and you’re good to go! Are you ready to start your business today?
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What is a good business to start today?
Deciding what business to start is possibly the hardest decision of the entire process. As once you have your idea and business plan in place, you can take practical steps towards making your business a reality.
When deciding what type of business you want to start, you should consider the current economic climate and whether market conditions are right for the type of business you want to start. Businesses that might have been good ideas years ago are not necessarily as straightforward to get off the ground now.
While the pandemic and economic conditions have changed the business landscape, especially skewing it towards more home working, there are many industries that are thriving despite difficult market conditions. Some of the businesses that you could definitely start today include:
- Pet Services – With more and more people acquiring pets over the lockdown, pet services such as pet sitting, dog walking and grooming are very high in demand by pet owners.
- Tutoring – Parents want their kids to do well at school. Are there any subjects you feel that you could tutor effectively?
- Digital marketing services – Copywriting, social media management, search engine optimisation and graphic design businesses are in demand and can be a great home business idea.
- Online stores – Whether selling items that are handmade or imported, many more consumers are turning to online shops as an alternative to hitting the high street.
- Catering/baking/personal chef – There will always be a place for delicious, homemade food and other cooking and catering services. It’s just all about marketing your catering business and skills correctly.
- Cleaning business – With minimal start up costs involved, a cleaning business can be quick and easy to set up, whether you opt for window cleaning, household cleaning or office cleaning.
What are the easiest businesses to start?
Do you want to start a business, but you’re not overly keen on having to put in massive amounts of time and effort? Are you looking for a business that is easy to start?
The easiest small business ideas are those that require very little capital, equipment, time and skill to get started. Most home-based businesses are easy to get off the ground if you start off small and can often be done with minimal equipment. You can always grow your own business over time.
Online businesses
Starting an online business is a great idea as you don’t need to find premises, and all of your marketing and communications can be done online, from home. You’ll need to develop a strong online presence to ensure you attract enough new business, but operating a business online helps keep the cost of your business venture down.
There are so many different types of online businesses, such as:
- selling items online
- teaching classes online
- dropshipping company
- monetising your audience through Youtube videos etc
Freelance and offer digital services
You could also offer digital services such as graphic design, social media management and copywriting, and work from home as a freelancer. Starting an online business usually requires very little capital, and therefore there is not as much risk involved as something involving bricks and mortar premises or physical location.
Follow an interest
Where does your passion lie? If you pursue something that you truly enjoy doing and are passionate about, it will be much more enjoyable than something that feels boring, or that you’re just doing for the money.
Creative small business ideas are often the most existing, but do market research to identify your target market and ensure that there is a demand for the product or service that you’re passionate about. But if it’s something you really enjoy and know a lot about, the process will feel easier overall.
Use the resources you have available to you
Also, look around and see what equipment and resources you already have available to you. Have a cutting-edge printer? Start a printing business! Have an amazing camera and a keen photographic eye? Start a photography business! Have a wonderful garden or greenhouse facility? Start growing and selling flowers! Profitable small business ideas often start from facilities that you already possess.
Verdict
The easiest business models are often not necessarily unique new business ideas and they will look different for each individual and will be based on their own set of unique skills, interests and resources.
What is the simplest way to start a business?
When starting a business, there is a simple format that you should follow. You can tweak and adjust these steps depending on your business demands:
Step #1: Business idea & plan
After you’ve done some market research to ensure that you have a good small business idea and it is a viable option, it’s time to start coming up with a detailed plan of action.
Step #2: Register your business
No matter how small or insignificant your business seems, small business owners need to register with the HMRC so that it’s all above board. The process is very simple and can be done through the HMRC’s online portal.
Step #3: Get a logo and branding designed
A logo is at the core of every brand’s brand identity, so ensure that you have a logo and consistent branding that says something about your company.
Step #4: Ensure that you have all the equipment/ tools to begin operations
Go out and buy anything you may need for your business. That way, you will be prepared when you get your first customer.
Step #5: Start social media profiles for your business
Your brand should be active on at least a few different social media platforms. While getting a website would be ideal, there are many new businesses that operate exclusively off social media for the first few months.
Step #6: Market your business!
It is time to tell your family and friends about your business if you haven’t done so already. Word of mouth is a great way to get your first customers. Also, advertise on social media, and look at running a social media campaign or even a giveaway to pique the interest of potential customers.
Am I ready to start a business?
As there are many businesses that require very little capital or effort to start, as long as you have the time and motivation, you could start implementing your business idea today!
Did you know that there are around 5.5 million business owners in the UK with around 5.45 million being classed as small businesses? If over 5 million others can get a great business idea off the ground, so can you!
Choose your business structure – either as sole trader, partnership or limited company – and this will impact the way you pay tax and your legal responsibilities, but you’ll be set up correctly. Ensure you have a business bank account to keep your business operations separate from your personal bank account.
There are plenty of profitable business ideas to get started with. Whether you are looking to establish a local business or work on a business idea that has national appeal, there are many opportunities, especially online, that make starting a business venture a very real prospect for the entrepreneur who has the desire to attract potential clients and customers and make their business succeed.
