Sick of working the 9-5 grind to help make someone else rich? Are you contemplating starting your own business? Do you want to be your own boss badly? Getting those entrepreneurial ambitions every morning when the alarm clock goes off? If you want to be an entrepreneur badly enough, you can make it happen with a good idea and some proper planning.
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With layoffs mounting, job openings frozen, and the recession impacting most industries it could be wise to call your own shots. If you are in charge of a venture, you can usually control your destiny to a greater extent.
The amount of small businesses starting each year is around 400,000 worldwide. Unfortunately most of them fail to launch successfully and the majority close up shop after just a few years. It is not easy for everyone to be an entrepreneur, small business owner, or startup founder. Not everyone is built for it or has the desire, but those with the entrepreneurial spirit have a lot of business options available.
Being an entrepreneur is different in various locations and industries. Starting a retail business is different than a tech company. And starting a company in the United States is very different than launching a startup in Asia. For example, you can come up with a lot of business ideas to start in Singapore if you want to start your entrepreneurial journey in this country. It is a rapidly growing market with plenty of profit potential for new businesses.
There are plenty of business ideas out there, but which one is the right model for you? What small business, solopreneur, or freelancing option fits your skills and passions?
In this Everything Entrepreneur article, you will get to explore some of the best businesses to start today on a budget. Starting your own business is no easy feat and the type of company you choose to launch shouldn’t be taken lightly. Read on to explore top booming businesses that you will want to start for a financially secure future.
7 Top Ideas For Starting Your Own Business On A Budget
1. Start a Photo Booth Business
Want to launch a fun and affordable photography business for events? Then why not start a photo booth business? Whether it is a wedding or other party, people love to have photo booths to bring fun to their parties.
Instead of having to worry about posing, guests can go in, choose from props, and pose how they would like. Some photos can be printed once they are taken, but most are digital, they print right there.
You can find them at beaches, movie theaters, and concerts. There is plenty of room for growth and opportunity with this underrated business model. People are always getting married and there are always going to be events taking place, so this business idea is a solid choice during any economy.
2. Freelance Copywriter
Do you love to write and edit content? If so, you can become a freelance copywriter. You can write copy, blog posts, articles, papers, or ads for companies in all industries on your own schedule. Learn SEO (search engine optimization) to make yourself marketable and have a wide variety of clients find your website online.
It’s a great business to have that you can do from pretty much anywhere as long as you have an internet connection. Write, edit, and publish on a laptop poolside, at the beach, traveling in an RV, or just snuggled up on the couch! The life of a writer can be one of freedom and fun while working from home or on the go at your own pace.
3. Translation
When you’re looking to create your own business project and can speak more than 1 language, consider translation services. It’s an industry that can translate into major profits quickly!
The translation industry is booming and you can even go into a specific niche offering select services such as document translation. Business has been going global for decades now and will continue needing more experienced translators.
4. Social Media Management
One of the fastest-growing small businesses is social media management. Social media is huge, and you can find most people online, including businesses.
Businesses are so busy that the last thing they want to do is run their social media presence.
That is where you come in with your SMM skills. You can help them out on platforms such as Pinterest, Instagram, TikTok, YouTube, Twitter, LinkedIn, or Facebook. The goal of SMM is to build their following and increase their customer base, all the while building your bank account!
So buy a discounted domain name, build a cheap website, and promote your social media management services now.
5. Tax Consultant
If you’re an accountant or CPA, you can work for yourself instead of others. You know your numbers and how to make / save money, so you should be your own boss! You can have a service that helps others with business taxes.
Many businesses are willing to hire someone else to take the confusion out of taxes and have someone else do it for them. Some businesses will need a tax advisor year-round, so you won’t just be needed during tax season.
Just make sure you and your employees have the proper qualifications with your accounting, bookkeeping, financial advising, and finance planning services. Proper insurance coverage is also essential for this type of business. And you obviously want to practice what you preach and keep your company in good standing with the IRS. Ensuring that all of these factors are in check, it will help prevent your business from flailing or failing.
6. Professional Organizing
Have dreams of being the next Marie Kondo? If you’re not sure who she is, she’s a professional organizer. If you have a knack for organization and helping others make use of their space, this could be your dream job.
Since many don’t want to take the time to clean up their home since it takes a while, they’ll hire others such as a professional organizer, to come in and clean the space.
7. Pet Sitting
Pet sitting is a great business to begin with little to no startup costs. You’ll want to prove you have pet experience whether pet sitting in the past or working at an animal hospital.
You can offer your services at their home or have them drop their pet off at your home. Pet sitting businesses done right and in a good neighborhood can be a booming business for sure.
Booming Businesses and Types of Startups
When you’re exploring booming businesses and the best businesses to start a career, keep this list in mind. If you want to make more than just a quick buck, these booming businesses are the right startups and side hustles for you.
If you need a little entrepreneurial inspiration, read these top motivational startup quotes to get the juices flowing again. Sometimes it’s mind over matter when you are launching a small business!
Would you like to learn more about starting your dream business? Check out our other articles today on building booming businesses on a budget and from your home or laptop. Visit the Business section of the Everything Entrepreneur Blog right now!