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 also take the current economic climate into consideration, which has been drastically affected by the COVID-19 pandemic. Businesses that were good ideas two years ago are now almost impossible to pull off. Night clubs, restaurants, and other businesses that offer live entertainment in a crowded space would not be sound investments. Although the pandemic shut the door on many business opportunities, it opened the door on others, and there are many industries that are still thriving. Some of the businesses that you can 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.
- 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 and graphic design are services that are high in demand.
- Selling Items Online – Whether they are handmade or imported, many more consumers are turning to online shops as an alternative to hitting the mall.
- Catering/ Baking – There will always be a place for delicious, homemade food. It’s just all about marketing it correctly.
What are the easiest businesses to start?Do you want to start a business, but you’re not so keen on putting in massive amounts of effort? Are you looking for a business that is easy to start? The easiest businesses to start would be those that require very little capital, equipment, time and skill. Most home-based businesses are easy to start if you start off small. You can always grow over time.
Online businessesStarting 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. 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 servicesYou 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 in something like a restaurant.
Follow an interestWhere 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. Of course, you should do market research to ensure that there is a demand for the product/ 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 youAlso, 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? Start a photography business? Have a wonderful garden? Start growing and selling flowers.
VerdictThe easiest business models will look different for each individual and will be based on their 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 & planAfter you’ve done some market research to ensure that your idea is a viable option, it’s time to start coming up with a detailed plan of action.
Step #2: Register your businessNo matter how small or insignificant your business seems, you’ll need to register it 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 designedA logo is at the core of every brand’s brand identity, so ensure that you have a logo that says something about your brand.
Step #4: Ensure that you have all the equipment/ tools to begin operationsGo out and buy anything you may need for your business. That way, you will be prepared when you get your first customer.
Step #4: Start social media profiles for your businessYour 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 #5: 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 to get your business off the ground, you could start implementing your business idea today! Did you know that there are around 6 million business owners in the UK? If 6 million other people can do it, so can you!
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