1. Ecommerce Business

Do you have a great business idea, but don’t know where to start? These days, the best way to get started is often by turning to the internet, where a wide variety of ecommerce businesses have found great success in recent years. Of course you know about Amazon, but there are also millions of smaller businesses that make up what is now a $4 trillion global industry.

With countless people stuck at home, ecommerce revenues increased by more than a quarter in 2020, and they’s still growing, so opportunity in this market remains strong. You will need an appealing, in-demand product, a simple, easy-to-use website, and a sharp marketing plan, but if you’re willing to invest a good chunk of your time and money your new ecommerce business will have a great shot at success. Somebody’s got to be the next Jeff Bezos, right?

2. Digital Marketing Agency

With many people staying at home and working remotely because of the pandemic, companies have also gone online and undertaken digital marketing initiatives to keep their target markets engaged. Global digital marketing is booming right now, and expected to more than double to $786 billion by 2026.

If you’re looking to start your own digital marketing business, you’re in luck. There has never been a better time to do it. Just catch up on the latest industry trends and know the steps in setting up a business. Keep in mind that since this is a relatively new industry, there are no concrete guidelines for success, but some insights into how other companies grew their own businesses can be helpful. Read and learn everything you can about the business before uploading your first social media post or your first digital ad. Once you’ve done that, you should be able to get the hang of digital marketing!

3. Social Media Management

Social media is among the world’s fastest-growing industries, with its 20% annual expansion in the last five years expected to increase to stunning 25% annual growth through 2026. By then it will be nearly a trillion dollar industry, which means that now is a great time to get in on the action and ride this wave.

Starting a social media business can be as simple as starting a blog about the media industry on LinkedIn or as complex as creating a fully-fledged Instagram business with lots of people using your content and products. With any social media business, the marketing will be absolutely crucial. The primary goal will be to connect with your target audience on the relevant platform. This means that before you even get started, you should do some research and experimentation to decide which platform and its user profile best fits you and your interests. From there, you’ll just need to find your niche to start building a respected brand.

4. Computer Repair

Businesses stand to lose customers and important data whenever their computer systems are down. Properly maintaining computers through regular cleaning, hard drive updates, and virus prevention can prevent breakdowns and extend a computer’s shelf life to up to eight years, computer security firm Norton says.

That’s why demand is high for computer maintenance and repair services. The US computer and electronics repair industry is valued at $19 billion. If you’re knowledgeable about computers and have troubleshooting skills, consider starting a computer repair business.

This type of business can be run from home, with minimal startup and overhead costs. But you’ll still need to register your business and comply with applicable regulations. Obtaining certifications on top of a bachelor or associate degree will increase your value and attract more clients so it’s wise to apply for these. Computer repair technicians mostly study computer science, IT, or computer information systems. It’s also important to be abreast of the latest trends. With your impressive skills, you’ll be making big profits in no time.

5. YouTube Channel

So you want to start a YouTube business? Great idea! The opportunities for online businesses are endless these days, and video platforms like YouTube are one of the best places to start. YouTube’s ad revenue increased a stunning 25 percent in 2021, which means now is a great time to get in on the action.

There’s no doubt that YouTube is a powerful business tool. But it can be a little tricky to know the best way to start a YouTube business. If you have some expertise or skill that is in great demand, you’ll want to create a series of videos and start your own YouTube channel. From there, you’ll need to generate visitors, and a great way to do that is to post about your videos and expertise across all social media, and tell your family and friends.

As you keep delivering quality content, you should be able to start generate subscriptions, and that’s when the ad dollars start rolling in.

6. Podcast

The number of people who listen to podcasts is seen to increase by around 5 million each year through 2024. Most of the podcast listeners are millennials and their most preferred podcast providers are Apple iTunes and Spotify. Podcasts are digital audio files that are used mostly for entertainment. These can also be used for educational purposes as well as for branding and raising awareness of major issues.

Starting your own podcast can be daunting, but if you can get your podcast on iTunes or Spotify, you can immediately engage millions of people not only in the US but also worldwide. Podcasts on iTunes may be streamed or downloaded on Apple devices while those on Spotify are available on both Android and iOS, desktops, smartphones, smart TVs and even gaming consoles.

7. Money Transfer Business

With increasing globalization, the remittance market has equally expanded, creating more opportunities for money transfer operators. If you’re looking to start a money transfer business, now is a good time to do so. The global remittance market bounced back and moved nearly $600 billion in 2021. The amount of cross-border transactions, including digital remittances, is expected to grow further as more economies come out of a pandemic-induced recession.

Take note that digital or online remittances are fast replacing traditional transfers, which require both senders and recipients to visit a bank or money transfer agent. Digital remittances are done through websites or apps. These are faster and more convenient. If you’re thinking about going digital, it’s important to create a website or an app first. Most importantly, you will have to secure your system and assure customers of safe fund transfers. There will be many challenges, but there are still opportunities for you to make your mark in this industry.

8. Cell Phone Repair

At least one smartphone screen breaks every second, a cell phone repair company says. Not everyone, however, can afford to toss their damaged smartphones, and buy a new one or upgrade. That’s why the cell phone repair industry has continued to thrive, earning around $4 billion a year. If you are skilled at fixing cell phones, this may be your chance to set up your own business.

Before you promote your services, it’s important that you decide what you’re going to offer. Will you be doing screen repair and replacement, battery replacement, or software-related repairs? Do you plan to set up a shop, or just work from home and promote your business online? You will find the answers to your questions as you research and assess the market. What’s important is that you are able to offer reliable and value-added services so you can quickly build up a loyal customer base.

9. Crypto Mining

Starting a crypto mining business is challenging, but not impossible. You will need high-powered computers, mining software, and an eWallet or an encrypted online bank account. Take note that only verified cryptominers can mine. To become one, you have to join a mining pool online and learn the extremely complex process of crypto mining. Aside from the mining software, which you can download, make sure you also have the right software to protect yourself from illegal attacks. It takes money and time to build a crypto mining business, but once you’re up and running, you’ll be making money real fast.

10. App Development

Did you ever think about how often you use mobile apps? Probably many times a day, which is why apps are among the world’s fastest growing industries. The global app market is worth more than $465 billion and expected to expand nearly 40% by 2026. If you have some tech skills, you could start your own app business and ride that growth to great success.

Getting there, however, will not be as easy as unlocking your phone. First, you’ll need a great idea for your first app. If you’ve already got that, you’ll need to do the build out and coding, then have the app vetted and approved by major app outlets, like Apple and Google. And that’s when the real work begins — convincing smartphone owners that your app is more appealing and valuable than the millions of other apps competing for their attention.