What Small Business Should You Start in 2019? Diana Smith

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When the economy as a whole is doing well, there’s more investing and new companies are being founded. Now more than ever since the recession of 2008, middle class people are looking into making the jump into business ownership and creating their own company.

The main decision to make is what kind of business you want to start. This is partly a matter of what the market you’re working in needs and no one provides. However, it’s also about what you personally are interested in, because running a business takes most of your free time and you shouldn’t be doing something that you don’t like.

Translation

Now, more than ever before, we can truly talk about a global economy. The phrase has been in use for more than a century now, but during most of that time, it implied different roles for different parts of the global economy.

This creates an opportunity for those able to provide translation and language services. A great thing about starting this kind of business is that it can start as a small endeavor with almost no infrastructure, but it can grow all the time and cover almost all businesses and all languages.

Food truck

Food truck industry may seem like a small and niche business, but there are two things to consider about it. First of all, it’s growing and it’s increased by 12 percent in the last five years. Secondly, it’s good to focus on a small niche because that will give you a dominant position in the market.

The main issues to deal with when starting a food truck company are the regulations and the initial investments. The regulations will take most of your time and money first and you simply need to invest in the trucks before making any money.

Remote employee monitoring

The internet has changed the way businesses are organized and made it easier for small companies to get organized without investing that much in infrastructure. It also allows companies to save on employees and their salaries, since they are hired abroad.

Remote employees need to be monitored and managed just like those working in an office and companies that provide this service can make a lot of money. It’s important to note that this isn’t just a matter of providing the technology for monitoring but it’s also an HR job.

Food businesses

A great thing about food businesses is that they provide a lot of options for business owners to explore. A food business can be a local restaurant that has a strong customer base and steady income, but it can also grow into delivery and even catering when you need some extra cash.

The key to starting such a company is to make smart initial investments that will allow you to expand later on. Invest in a Bosch side by side refrigerator and in a professional oven and you’ll have all you need for the business you’re running at this time and the ones you’ll have created in the years to come.

Green consulting

Many companies are looking for a way to go green. It’s both a responsible decision and a way to save money. Green consulting businesses are there to help make the transition in the most inexpensive and effective way possible.

The most important part of a green consulting business is the employees that know what they’re doing. It’s not enough to hire employees that know their way around green energy and recycling. It’s often tax accountants and a lawyer that help the most with turning the business green.

Renting drones

Drones have revolutionized filmmaking, because they allow even the smallest of productions to create powerful and cinematic shots. However, they are still rather expensive and most productions don’t really need to purchase a drone right away. Renting is therefore a less expensive option and a great way to earn some passive income.

Obviously, the first thing to do is to invest in some drones, which is also the biggest obstacle for starting such a business. It will also take some time and effort to create a network of customers that need your products.

Bike sales, repairs and renting

Day to day life in an urban environment has become too dependent on cars and many are making an effort to use bikes, both for its health benefits and impact to the environment. The best way to go is to provide an all-purpose service, where bikes can be bought, rented and repaired.

There’s a lot to think about when preparing this kind of business, but what’s most often forgotten is the fact that it needs to be marketed in order to stay lucrative. Offer sales, coupons for loyal customers and try to stay up to date with online marketing techniques.

These small businesses can be lucrative and long-lasting. Just make sure that you know the market you’re getting in beforehand.