The Promising Business Ideas to Ensure Success in 2020
Need some idea inspiration before starting a business? Here is a list of some of the promising business ideas to ensure success in 2020.
If you want to be successful in business, start a business after complete market research and brainstorming on different biz ideas. Though getting started with a new business idea can often be daunting, but if you decide on any idea accurately, it will definitely be worthwhile.
2020 – A Promising Year for Startups with Innovative ideas
Despite the launch of ‘Startup India’ and many other key initiatives by the central government, less number of startups had seen investments in the year 2016 as the most of the new business ideas failed to inspire investors. The available evidence indicates that the startups with inspiring business ideas and well-developed business models would take lead in the year 2020. The technical inventions for providing solutions to the basic need in the categories of water solutions, healthcare solutions, and energy solutions could be the best bets for today. The fintech space is also promising as the government-led initiatives like demonetization and Aadhaar linkage etc will support a growth of this segment. Overall 2020 is a perfect year to start a business because of many reasons. If you already have any business plan, you can move ahead to fulfill your entrepreneurial dreams but, if you still don’t have anyone or not sure about which idea will work, this article may help you as The CEO Magazine came up with promising business ideas that may help you to fulfill your entrepreneurial dreams.
Post demonetization, the fintech will take preference in 2020 as the government is encouraging digitalization and technical investments in all related spaces. It also offers transformative opportunities in investment and tax saving part as well. In addition, fintech is a space that still to adopt new technologies or you can say that in the nascent stage of adopting new technologies that will definitely make it promising ones in the year 2020. The business ideas that focused of payment services may see fast growth as they help in cashless transactions after post demonetization. Remittance services will also gain prominence as they make an individual money transfer from foreign to home country easy.
Cleantech is new but promising area to start a business during this year! Traditionally it is dominated by big players but a brigade of new startups has changed the scenario of this industry in past few years. The ideas that are addressing wastewater treatment and providing monitoring solutions will attract investors’ interest easily all along offering a competitive return and effective solutions to global problems. The future is promising for those startups who are improving the access of clean environment and water through their innovative technologies.
Sustainable Energy Solutions
Like cleantech solutions, sustainable energy solutions are some of those that will carry the real needs of our society. Development of sustainable energy solutions is very important for healthy society. If you are inventing technologies related to solar power, wind energy, hydroelectricity, wave power, bio-energy, geothermal etc to improve energy efficiency, you can succeed to attract investors’ interest easily in 2020. Cryogenic Carbon Capture technology startups are also in the priority list of investors.
Tremendous growth is expected in the healthcare segment. However, the size of the industry is expected to reach US$ 160 billion by the end of this year and this figure will touch US$ 280 billion by 2020. The technologies that are developed for the treatment of diseases like TB, cancer, and others can expect good future. You can also think of starting a business idea in sub-categories including cloud-based healthcare services, treatment of patients’ remotely, and advancement in hardware used in hospitals etc.
So, this is a great time to start a new business. These are among some of the segments that will make a mark in 2020!