7 Top Small Business Ideas For The New Economy

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What business should we open this year? In this collection, we have combined business ideas that are very popular among aspiring entrepreneurs at the moment and have the greatest prospects in the coming years. The digital era has also reached business, it is known that, at least on mobile, there are 3.9 billion active internet users around the world. 

This "small" number is only a representation of the great opportunity that is presented to generate your new income, because of the aforementioned percentage, 1.16 billion people have bought online. 

So, it is important to promote your products or services. How? There are several ways to announce to the world that you have a digital presence in which you offer something: 

● Online store (e-commerce) 
● Website for business 
● Blog 
● Social networks to post what sells 
● Platforms such as Amazon 

By these means you can start doing business. For this it is important that you convince and give confidence to the potential buyer with images about your product or service, your offices (if you have them), evidence of your previous satisfied customers, etc. 

If you are planning to have an online store, keep everything organized with the use of accessories such as bag tags to manage your inventories. 

Top 7 Small Business Ideas For The New Economy

1. Gay Tourism: LGBTQ Is A Rising Value For Your Business 

Gay tourism has grown exponentially around the world. In a country where tourism is one of its main sources of income, having surpassed a record summer in catering, consumption, flights and hotel occupancy is, without a doubt, great news for the economic recovery. And for business: specialized catering services, beauty and, leisure activities are a good business bet for a growing LGBTQ tourist crowd. 

2. Ecology: Think Green 

Eco-friendly products are beyond just organic and healthy foods. The good thing is that each and every corner of this industry is booming, at least in many parts around the world. There are two things that consumers value in such business. Firstly, the products and food items that you offer are environmentally friendly and don’t harm the planet. Secondly, such food items are healthy to consume too. You might want to consider eco-friendly strategies no matter which business you belong to. 

3. Interactive Cemeteries And Innovative Funeral Products 

The funeral industry moves billions of dollars a year, employs tens of thousands of people and is made up of thousands of companies, according to data. Despite these figures, a fact must be specified: funeral homes and all death-related companies are not very prone to innovation. From personalized coffins to the transformation of the ashes of the deceased into a diamond that can be worn on the finger. Paintings made with a mixture of which the aforementioned ashes are interactive graves with a QR code that the visitor of the cemetery can scan to enter a virtual walk through the life of the deceased. 

4. The Power Of Pets: A Growing Market 

If until now only training for guard dogs was offered, currently gyms oriented to pets are flourishing in a timid way, where even the fitness industry is taking advantage to make offers for yoga classes and training for the pet and its owner. They ensure that keeping your pet fit and relaxed makes her feel better. On the other hand, and within this market, the sale of devices connected to the collars of the animals to measure the information of the data that is stored and the calories burned, has an encouraging future. 

5. Drive-In And Drive Thru Chains

In the face of new distribution formats (especially electronic sales), food distribution chains have developed a "drive" concept, which is growing steadily. This new service is an adaptation of an already quite old concept, the "drive-in". If you are a user of hamburger chains, surely you have at least once asked for a menu without leaving your vehicle, because you were in a hurry or preferred to eat at home. 

6. Senior Services: For Those Over 60 

Supporting this sector of the population can be a very profitable business. You just have to find the most suitable products and services for them. 

The needs of this sector have been transformed in recent decades. Our elders are increasingly active and independent. They like to travel; they look for new forms of leisure and they want to live in their own home instead of living with their children or staying in a residence. For this, companies have created a platform to put users in contact. Interested people just have to register and create their profile to start meeting people with interests and tastes related to their own, until they find the ideal roommates. 

7. Modern Food Business 

Sometimes the possibility of making the purchase is included. It's like “rent a cook” that will work with your kitchen, your crockery, cutlery and glassware. And that once dinner is done, he will leave to let you have dinner with your friends. As a company, it has a good result as long as the service is for a minimum number and usually high standing customers. 

If you have something bigger planned, get together with the partners. 1 or 2 can contribute the capital and another one contributes the administration. There are very innovative concepts: regional restaurants, international restaurants, fusion cuisine, pub bars, flavored beers and much more. 

How Much Money Are You Going To Invest?

The restaurant business can be very expensive. But plan your project well to avoid extra costs. A restaurant can cost you from $12,500 to $100,000 or more. That is why everything must be prepared: your market research, your business plan, finances and, administration. 

But you should know that the most difficult thing about a restaurant is not recipes. It is the financial part and human resources. If you want to start your restaurant correctly, I recommend the following: 

● Work on your concept, (in the type of restaurant you want to open). This will help you know more broadly what you need to get started. This is not always an easy task since it can depend on many factors, from the locality, the competition, the capital to start, among many other things. 

● Starting a new business with friends may be the best way to invest your money and generate income in the future, but market research, business plan and, administration are not issues that have to be discussed, they are a practical guide that allows you start a business effectively, without risk of losing your investment and make your restaurant a really profitable business. Learn more about top online business ideas in 2023

Start Your Successful Small Business Today

With these innovative and booming business ideas, you can pick any one of them and be sure to make profits doing it in the new economy. Obviously, you will need a good business strategy to start with. Any business is great if you understand the ins and outs of how it works. With these ideas, you can pick the one that suits you the best and matches your prior experience to maximize your profits.

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