Looking for a great business idea?

Looking for a great business idea?

These ideas will help you start and grow a successful business in 2021.

  • Many of the best small business ideas for 2021 involve an online business model.
  • Choose a business idea that you are knowledgeable and passionate about.
  • Before starting a business, determine if there is a demand for what you want to provide.
  • This post is for anyone looking for an idea to start a business.

You know you want to start a business, but you’re having a tough time articulating your idea. If you want to become an entrepreneur, it’s important to start with a great business idea. All you need is a bit of inspiration. It all starts with an idea that has room to grow over time.

If you are thinking of starting a business in 2021, it is critical to take the new normal into account. The COVID-19 pandemic has changed so much about how people consume products and services. While starting a retail business or restaurant might have been good ideas previously, you might be best served to reconsider those thoughts until you see how the next year plays out. Instead of some more traditional businesses, think about those that can support how people are now living their lives.

If you’re ready to run your own business, consider any of these great business ideas.

  1. Consultant

If you are knowledgeable and passionate about a specific topic (business, social media, marketing, human resources, leadership, communication, business development etc.), starting a consultant business can be a lucrative option. You can start your consulting business on your own, then grow your business and hire other consultants over time. Grow at a pace you can manage.

  1. Online reseller

Those passionate about clothing and/or sales may want to consider starting an online reseller business. Although it takes a lot of time and dedication, and an eye for fashion, this is a great idea that you can start as a side business and turn into a full-time resale business. You can start by using online store websites like Poshmark and Mercari to sell your unwanted clothing, eventually expanding to your own resale website.

  1. Online teaching

The demand for online education has opened up a wide possibility for entrepreneurs to start their own ventures. Since this is an online business idea, you can choose any subject you are knowledgeable about and teach a course regardless of your location. If you don’t have advanced knowledge in any particular subject, you can always consider teaching English as a foreign language online to students overseas.

  1. Online bookkeeping

As with education, technology allows many bookkeeping services to be performed online. If you are an accountant or bookkeeper who wants the freedom and autonomy of running your own business, you can take advantage of modern technology to start your own online bookkeeping service, taking on other companies as clients.

  1. Medical courier service

If you have a reliable vehicle and good time management skills, you may want to consider creating your own courier service, more specifically, a medical courier service. As a driver, you would be responsible for transporting medical items like lab specimens, prescription drugs and equipment. The healthcare industry is expanding, which is great for medical courier service job stability. You could start your courier business on your own or hire other drivers to work for you.

  1. App developer

If you are knowledgeable and experienced in technology, you may want to consider a career in app development. Smartphones have become an everyday accessory for many Brits, which has increased demand for mobile apps. Similarly, virtual reality software has become popular in recent years, so there is also a demand for VR app development.

  1. Transcription service

If you have a good ear and can type quickly, a transcription service is a great business idea that allows you to work from home with a flexible schedule. Medical transcription services are especially needed as voice recognition technology proliferates for healthcare provider dictation. If you’re not looking to start all at once, or if you have a day job you would like to keep for the time being, you can accept as few or many transcription jobs as you’d like. To boost your business prospects and justify charging more, consider becoming a certified transcriptionist and delving into a few specialties.

Medical transcriptionists typically charge 6 to 14 pence per line of transcription, which can quickly add up. The typical turnaround time for transcription work is 24 hours, so it’s important to stay on top of the jobs you accept. However, the flexibility to accept only a few requests to get started means you can scale up as you are ready, making transcription an easy service to start up slowly. Best of all, there is little startup cost and overhead. You simply need a computer, the appropriate software, and a secure messaging service.

  1. Professional organiser

Looking for a business idea that can really “spark joy”? Professional organisers help people declutter and minimize for a living. In an age of materialism, many people are desperate to downsize and take control over their possessions, rather than letting their things possess them. Minimalism is becoming extremely popular, but people often find it hard to part with things they’ve owned for a long time. Part of being a professional organiser is helping clients develop a system for downsizing and keeping things that way.

If you’re a highly organised person who enjoys making spaces functional and comfortable, you might be good at coaching others to do the same. People will pay you to help them devise a method of minimizing their possessions and then maintaining an organised space. To promote your business, ask if your clients will let you take before and after photos of the areas of their homes you’ve organised, and use those to create a portfolio that you can put on social media to attract more clients.

  1. Cleaning service

If you like to clean, you can easily turn it into a business. With a few staff members, a host of cleaning supplies and transportation, you can offer cleaning services to homeowners, apartment complexes and commercial properties. Most cleaning services charge between £15 and £30 per hour. Cleaning services are straightforward businesses that require relatively little overhead; you simply need planning, dedication and marketing to get your business noticed.

If you’re looking to differentiate yourself from other cleaning services, consider adding premium options like floor waxing or exterior power washing for an additional fee. These services could be the deciding factor between your new cleaning service and seasoned companies that maintain too large a client list to provide that level of cleaning.

  1. Freelance copywriter

If you’re a natural wordsmith with a bit of marketing knowledge, you can establish yourself as a freelance copywriter. Whether you write blogs, web content or press releases, plenty of companies will pay for your services. You can increase your value by bringing SEO knowledge to the table to help your clients craft a strategy to attack specific keywords that their target audience is already using in their online searches. Most freelance copywriters charge £20 to £50 per hour, but those with expertise in a given vertical could charge even more.

Freelance copywriting is a great business to run, because as long as you have an internet connection, you can work. It’s a business that you can operate from the comfort of your own home, or even from the road if you travel, when we can. If you establish a large enough network and gain referrals from satisfied clients, you could make freelance writing your full-time job.

  1. Home care service

A background in care and hospitality can go a long way to support housebound seniors who require in-home care. It’s also a service for which demand is only going to grow. According to the National Institute on Aging, between 2010 and 2050, the 85-and-over population is projected to increase 351% globally, and the global number of centenarians (those over age 100) is projected to increase tenfold. Many will need care and assistance, oftentimes in their own homes.

Luckily, you don’t need a background in healthcare to help seniors and grow a successful business at the same time, although those skills are certain to be in demand as well. Many seniors need help with everything from errands to repairs around the house. With some experience, you could consider growing your business to help seniors’ transition from their homes to assisted living facilities, offering services such as packing, transporting, setting up, or storing their furniture and possessions.

  1. Translation service

According to research from IBISWorld, the translation services industry saw a decline in 2020, as did many industries; however, it is projected to rebound nicely in 2021. That projected growth isn’t surprising, as the internet has opened up entrepreneurs in other countries to English-speaking markets and vice versa.

This trend has created an opening for multilingual speakers to offer specific services, such as document translation and the translation of website information into languages for use in other markets. If you know multiple languages, carving out a niche in the translation services industry could be a successful endeavour.

  1. Digital marketing

The importance of the internet grows with every passing day, making it harder all the time for businesses to cut through the clutter and properly market themselves. Digital marketing services are always in demand, and many small and midsize companies would rather outsource it than establish a costly in-house team. If you’ve got skills in SEO, content marketing, pay-per-click, web development or social media management, you could have a business opportunity that allows you the freedom to work from home.

Digital marketing is an important part of a brand, so it’s critical for you to respond to developments in your clients’ marketing strategies. Social media management entails watching for comments and messages around the clock, not just scheduling posts in a “set-it-and-forget-it” mindset. If you enjoy strategizing and implementing plans meticulously, digital marketing could be the right business for you. You may also consider becoming an affiliate marketer, which is another form of digital marketing.

  1. Food truck

With indoor dining limited in many locations right now, aspiring restaurateurs might find more success with a food truck. Food trucks come in all shapes and sizes, serving up a wide range of snacks and cuisines. Take your favourite style of food on the road and sell your culinary passions directly to hungry customers. Sure, you’ll be working, but you’ll be in a space you’re passionate about, with a chance to connect to people who have similar interests.

Food trucks might sound like a wild idea, but the industry is growing. The overhead and upkeep for a truck costs significantly less than owning a restaurant, and you have the added benefit of mobility. If you’re interested in serving up smiles.

  1. Lawn care service

If you grew up with a lawn, chances are your parents made you take care of it. For many of us, lawn care is a pain, but for some, it offers a sense of peace and serenity. Working outdoors with your hands to tame and beautify the natural landscape can be a rewarding experience, and since so many people find the work tedious, it can also be profitable.

Lawn care services require little more than some basic equipment, a trailer and perhaps some staff, depending on how many clients you have and how big the jobs are. You can quickly grow a small lawn care service into a full landscaping company by offering premium services and establishing a reputation as a brand that does a thorough job with a smile. If you like working outdoors and creating elegant landscapes, this could be the business for you.

  1. Rideshare driver

If starting your own business seems daunting or too much of a risk, you can always use your car to become a rideshare driver. The overhead and responsibility of running the company falls on the rideshare service, giving you the freedom to work as much or as little as you need. Rideshare applications such as Uber and Lyft have enabled people to start side businesses that pay well and require little more than a willingness to drive people to their destinations and make occasional friendly conversation.

Rideshare drivers have the independence of a small business owner without the heavy workload required to manage the logistics behind the scenes. If any of the other business ideas seem like they require too much effort or upfront capital, ridesharing might be a great way for you to dip your toes into the world of entrepreneurship.

  1. Estate agent

For many people, navigating the housing market is overwhelming. As an estate agent, you can help people find the home of their dreams at a price that fits their budget. In many states, you simply need to complete a few months of classes and pass an exam to qualify as a real estate agent. Even with a certification, you’ll get nowhere without basic people skills, so if you’re not a people person, this might not be the route for you.

  1. Graphic designer

Corporations, small businesses and sole proprietors all need eye-catching promotional materials, but not nearly everybody has an eye for what looks good. If you’ve got an artistic streak and know how to organise content into a visually pleasing format, you can start a graphic design business to provide flyers, digital ads, posters and other engaging visual materials. Graphic design also has the benefit of requiring few physical tools beyond a laptop and a desk.

  1. T-shirt printing business

Just as with graphic design, you might enjoy launching a T-shirt printing business if you’ve got a sharp artistic sense, or maybe you just enjoy taking someone else’s visuals and screen-printing them onto a blank shirt. Either way, if you have space for a T-shirt printing setup, you can easily get the necessary tools and start your small business.

  1. Drop shipping

Not all companies that sell goods store them onsite. In dropshipping, people who run e-commerce sites go to a third party to fulfil all orders. The third party is likely a wholesale retailer or other entity that runs a warehouse and shipping operation. The minimal inventory and tools needed for dropshipping make it an especially great startup idea if you’re worried about overhead and physical space.

  1. Pet sitting

When families go away for extended periods and need someone to watch their pets for them, your pet-sitting small business can give them peace of mind they need. As a pet sitter, you’ll watch over your clients’ dogs, cats or other pets at their house, making sure to feed them, give them water, play with them, spend time with them, and (with dogs) walk them as needed. You’ll also need to regularly update your clients on how their pets are doing.

If you have other sources of income that require merely an internet connection and a laptop, pet sitting may be an especially apt small business idea. Almost all pet owners will be glad to let you do work on your laptop while you spend time at their home with their pets, meaning that you can run two income streams simultaneously.

Key takeaway: Although there are many great small business ideas, the best ones for 2021 will likely involve working online.

What are the most successful small businesses?

Small businesses that involve website design, a subset of digital marketing, tend to be among those that make the most sales and bring in the most profit. People now learn about businesses on the internet more often than via other avenues, so finding clients and a steady income stream isn’t usually difficult. Cleaning services and estate agency businesses also have high success rates, which makes sense, all people need homes, and they prefer them clean.

Key takeaway: Some of the most profitable business ideas are website design, cleaning services and estate agency.

What would be a good small business to start?

If you’re concerned about maximizing your profit while minimizing your workload, a good small business to start might be any of the ones that most frequently prove successful. However, if you’re more interested in incorporating your passions into your work while earning enough money to live, a good small business to start is any that fulfils you, requires you to use your skills and offers you a good work-life balance. There are so many great business ideas that this question has no objectively correct answer – you know better than anyone what small business ideas will bring you happiness, success and stability.

Key takeaway: The best small business to start is something that you are passionate and knowledgeable about, and there is a demand for.

How can I start my own business with no money?

You don’t need money to become a small business owner. The first step in starting a business with no money is to keep your current job, if you have one, and launch your small business as, for now, a side pursuit. Then, develop your business plan and analyse your consumer base, market, and potential challenges. Near the final stages of this planning, you’ll better understand how much money you need to start your business. You can find this money through crowdfunding platforms and investors. Consider taking out loans only as a last resort.

Key takeaway: Choose a small business idea with low startup costs. If you still don’t have enough money, you can finance your business idea through crowdfunding or investors.

How do I start a small business from home?

Home-based businesses tend to be the most convenient and manageable small business ideas. That said, not all great business ideas are suited for home offices, so make sure your business can be conducted from home – jobs with onsite needs and heavy in-person demands might not be suitable. In your business plan and budget, be sure to incorporate any office supplies and tools that make your online business ideas feasible, such as a separate business computer, a proper desk, high-speed internet, filing cabinets and a website for your business.

Key takeaway: Many online businesses and companies with low inventory can be started from the comfort of your home.

What is the step-by-step process for starting a business?

Starting a business takes a lot of work, but with the right tools, help, and advice you can get your company up and running in no time. Although your specific business journey will be unique to you, we identified a few steps that entrepreneurs can take to start their business.

Ready to get started? Why not join us?

Why Do Entrepreneurs Want to Start Their Own Business?

Why Do Entrepreneurs Want to Start Their Own Business?

Coutts, the wealth manager and private bank, has released the latest round of findings of the inaugural Coutts UK Entrepreneur Index (CUEI) which outlines the level of entrepreneurialism in the UK as well as the desires and barriers that they have faced when starting their business.

The Entrepreneur Index has already revealed that one in four Brits (23%) has launched their own business, meaning they can officially call themselves an entrepreneur. Today, the wealth manager and private bank has also revealed what the drivers are behind those entrepreneurs making that decision.

It seems that for British entrepreneurs, the flexibility to work for oneself was the number one factor, with more than half (52%) declaring so. The same figure (52%) also said they wanted their business to be an interesting place to work. More than a third (34%) were attracted to the possible financial reward and a quarter (25%) simply wanted to build something from scratch.

It was also clear that launching one’s own business is also an opportunity for many to do something for their society or community. One in three (33%) declared that it is important to them that their business has a positive impact on society, more than a fifth (21%) said that wanted it to create jobs and around one in six (17%) wanted their business to be diverse.

Interestingly, Coutts found that more female entrepreneurs (37%) wanted their business to have a positive impact on society than their male counterparts (29%), and more women (57%) also found the idea of simply doing something more interesting a bigger driver than men (47%).

The Entrepreneur Index also compared the different sentiments of the UK’s entrepreneurs depending on their age, with some fascinating insights coming to light. More younger entrepreneurs, those aged between 18-34, for instance, wanted their business to have a positive impact on society than their senior counterparts – 43% of Britain’s younger entrepreneurs stated so, compared to 35% of those aged 35-54 and just 16% of those aged 55+. More younger entrepreneurs were attracted to starting their own business in order to build something for future generations with one in five (22%) stating so, compared to just 9% of those aged 55 or over. The desire to do something or work somewhere genuinely interesting was the biggest driver for those aged 55+, with a whopping 67% stating so, compared to 44% of those aged 18-34 and 48% of those aged 35-54.

These numbers from the research prove one thing, without entrepreneurs and startups the UK economy will suffer for years to come. We cannot rely on other aspects of business to pull us through.

I would say there are two things that help in this struggle:

  1. Understanding the goals and drivers of the entrepreneur
  2. The purpose of the business, what is it here to do and achieve?

This goes for an entrepreneur with an idea, a start up or a global organisation

One thing is for certain its great to see that here in the UK we have the appetite to start and grow businesses. It’s a mark of just how passionate we are as a nation to do what we can to help, two lockdowns have proved that, but for me it’s the unshakable notion that together we can succeed. Maybe, just maybe, we will.

Entrepreneurs must be at heart of Cumbria’s recovery strategy.

Entrepreneurs must be at heart of Cumbria’s recovery strategy.

It is becoming the ‘norm’ across Cumbria that we are seeing people, entrepreneurs, going above and beyond during the COVID-19 pandemic. We see it every day on social media where communities have come together, usually lead by one individual, to take food to people who need it most and to organise drop offs etc needed in their community, usually for the elderly and the vulnerable. This has been mirrored across Cumbria throughout this pandemic.

Yet also across Cumbria we are not seeing or hearing much other than the odd email or link to a government website from our industry leaders other than to give more information for employers on how its intended to recover economically from this pandemic.

It was Sir Tom Hunter the Scottish businessman, entrepreneur, and philanthropist who said, “The best social policy ever invented is a good job”.

We will need a greater emphasis on job creation if Cumbria is to come through this economic catastrophe ready for business.

Across Cumbria today boardrooms are alive with the chatter of ‘restructure’ and ‘how are we going to move forward’? It is without doubt that some of our larger organisations will be planning redundancies and job cuts.

Yet we do not have anything in place that sets out a plan for Cumbria’s youth and what they will do for a job going forward. There is no strategic plan in place to get us through this troubling time and beyond.

We already know that public sector finances will be under pressure for at least the next 10 years. We cannot borrow at these unprecedented levels and not have to pay it back. We will not find the new jobs here.

We know that we are unlikely to find new jobs created anytime soon in Cumbria as there is no pipeline for this to happen currently in place. That leaves two sources for these essential jobs.

We can import them from outside of Cumbria and internationally by attracting companies to move their offices and production operations to Cumbria, important as these jobs may prove to be, they can be precarious and at the whim of a distant head office.

It is staring us in the face, these vital new jobs will be created by people who want to start and grow a new business or social enterprise (the entrepreneurs) or those who have the ambition to drive growth from within (the intrepreneurs).

It is these people who will shape our future. These are the people we should celebrate, nurture and support. We should be putting entrepreneurs, the intrepreneurs and Cumbria’s entrepreneurial culture and spirit at the heart of any and all recovery planning. This will create our pipeline; this will help us recover. It’s not surprising, although a little sad, that very little or nothing of substance has been mentioned about entrepreneurs in any report or recovery plan for Cumbria in the last 3 months. If there is such a plan in existence.

Research by The Kauffman Foundation and the Enterprise Research Centre estimates that all net new jobs are created by new and young firms. Further still, growth companies and scale-ups create the most jobs of all, whilst representing only 5% of companies, they create 50% of new jobs.

The ScaleUp Institute’s research shows these firms not only create more jobs, they are also more productive, export more, generate tax revenue and do better for their communities. Is this not what we want for Cumbria?

It does not take a rocket scientist to work out that entrepreneurs and intrepreneurs are Cumbria’s job creators. Entrepreneurs should be at the heart of our recovery strategy because they will create jobs. We know that they cannot do it alone, that is where the rest of us come in. They need our help, let us give it to them.

Keith McMean is MD and Founder of The Entrepreneurs Group Ltd

The article was inspired by Sandy Kennedy’s original article in the Herald.

https://www.heraldscotland.com/business_hq/18540622.sandy-kennedy-entrepreneurs-must-heart-recovery-strategy/