5 Interesting Small Scale Business Ideas
The covid-19 pandemic has caused people to seriously rethink their financial strategies as many people have been laid off while some companies have closed down. People are looking for small scale business that they can start and run without having to take huge loans that will sink them deeper into financial ruin. In fact, according to the U.S Census Bureau, there was a 77.4% increase in new business formation during the third quarter of 2020. Most people are intent on online businesses, but in the current marketplace, the lines between offline and online ventures are less rigid than they were in the past.
Below are five interesting ideas that you can transform into a thriving business.
If you love writing, blogging is not the only thing you can venture into with the current rise in online marketing. Companies realize that content is among the key drivers of customer acquisition on Google and are looking for content creators that can give them search-optimized content. With a content creation agency, you can lead a team of creators that generate this type of content for companies intent on ranking at the top of search engines. Other than the written word, consider diversifying into photos and images to maximize your income streams in online content creation.
As more people are leaving their traditional workplaces to start businesses, there is an increasing demand for bookkeeping services. This is because these start-ups cannot afford to hire dedicated bookkeepers to monitor their expenses and revenue. Freelance bookkeepers are thus the first options for them since these come with low overhead costs and allow them to access a broad range of expertise. The training, set up and running costs for a bookkeeping company are low, so you need not worry about running bankrupt.
Gambling in the past was thought to be a pastime for delinquents and people who did not have much experience to engage in anything else. Nowadays, gambling is a multi-billion dollar industry that can guarantee your financial security provided you know the best on the sites and games to choose for your venture. According to jackpotslayer.com is a strictly an entertainment form and not a means to make money.
Other than bookkeepers, small, and even large, businesses owners are now hiring virtual assistants to handle several administrative tasks online. You can become a virtual assistant in a specific niche that you feel best-versed in or in which you have undergone some formal training. You can go ahead and start a virtual assistant company from which companies hire their assistants for a fee. The assistants hired through your agency will also pay you a commission.
Since January 2012, the global internet use has increased by 82% translating to about a million new users per day or ten per second. With such lucrative numbers, people are going all out to reach the many people online through blogging that they think of as some type of online journal. Find a niche that you are well-versed in and something that will draw people to your blog so that you get immense online traffic. You can then monetize your blog through display ads, sponsored content, sponsored reviews, direct ads, digital products and affiliate marketing programs to guarantee a tidy income from it.
Most of the above ideas need little to no cash and expertise to start so there is no excuse holding you from turning them into cash. Even so, you like most startups, might face a challenge or two when starting the business and sometimes success might take a bit longer than you expect. In both cases, be resilient and patient because the rewards will be worth it in the end.