5 Great Small Businesses to Start in 2020

2020 is a tricky year to navigate for sure, but it is as good a time as any to start your own dream business. After all, opportunities abound even when most people are confined to their homes.

Still, not every business idea is a great business idea in light of quarantine restrictions limiting what people can do daily. For instance, it might not be the best time to start a travel agency or a bed and breakfast given current circumstances.

Instead, here are some great small business ideas you can start from home in 2020.

  1. Digital Event Planning

The event planning industry has become too saturated in recent years, but online events are still pretty much fair game. Contrary to what many people assume, hosting a webinar or a stakeholder meeting through apps like Zoom is not actually a no-brainer.

Live streams and digital events require careful planning and strategizing to maximize productivity and engagement. Despite the tall order, your startup event coordinating agency only needs one head planner, a technical director, a creative lead, and a couple of on-camera talents to host events if need be.

If you already have a high-spec laptop and wireless internet connectivity, well, that’s all the capital you need.

  1. Bookkeeping Services

Bookkeeping services is a great business idea if you have a natural knack for numbers, and the best part about it is that it’s a source of income to have that will give you practice in the industry even while you’re studying for your CPA exam. It might be challenging to bag consulting gigs with your license still in progress, but you can always offer bookkeeping services until then.

Just like you, a lot of people are thinking about kicking off their own business ventures this year. Therefore, a lot of new businesses will need help producing invoices, chasing payments, and processing payrolls. Instead of becoming a competitor, you might want to consider offering them solutions for some challenges they will undoubtedly face as new business owners.

  1. Print-on-Demand

One of the most simple businesses you can start at home without much capital is a print-on-demand business. As long as you know the basics of t-shirt printing, you can start taking orders.

The beauty of on-demand printing is its minimal risk exposure. You only work to fulfill orders that have already been placed (and possibly paid for), so you don’t need to worry about product demand. Once you get the hang of it, you can even move on to more complicated jobs like printing on mugs, decals, and event souvenirs.

  1. Digital Marketing

e than five types of digital marketing? Master just one of these and you can immediately start making money online. Find some friends who are willing to learn and master the other types, and now you have an agency.

Any company or organization worth its salt would want to tailor their messages for each set of the target audience, but not everyone has the time or the know-how. All businesses need good digital marketing, whether they know it or not. 

If you find yourself spending enough time on social media that you are attuned with trends and know what every single ranking hashtag means, this might be the business for you.

  1. Online Tutoring Agency

You might have already tried teaching language classes online before, but why stop there?

Most students are now getting their education virtually and the adjustment is not easy. Distance learning is not effective for everyone at first, but seeing as we don’t have much choice, you can offer assistance through a tutoring services business.

Mastery of a subject is one important aspect of it, but more importantly, you have to have the patience to guide a student who is willing to learn but may be very frustrated with all the changes right now.

It’s a great business to start this year because if you are able to build a great relationship with your students (and their parents), you might be able to keep them even after the pandemic is over. At the same time, your new agency could help some teachers who have lost their livelihoods now that schools have cut down their workforce.

There you have it — five great small businesses you can venture in this year. We hope this article gave you some ideas to work with, and of course, good luck with the business!

Blake Cohen

Blake is a business journalist with a wealth of experience covering the world of finance, economics and technology. With over a decade of experience reporting on the latest trends in the corporate world, Blake has a reputation for being a knowledgeable, analytical and forward-thinking journalist. He has a keen eye for spotting emerging technologies and trends in the business world, and is able to explain their impact on the economy and society in a clear and compelling way.