IDEAL SMALL BUSINESSES 2020
Not even the pandemic a century ago, in 1918 forced the global economies to come to standstill, and India among many other countries faced negative outcomes. With its first economic contraction in 4 decades, India’s GDP shrinks 23.9% in Q1, FY21 that means its gross domestic product (GDP) contracted 23.9 per cent in the April-June quarter of 2020-21.
Unemployment, as an outcome is anticipated. But at the same time, small businesses are spurring in numbers. These businesses offer an opportunity to exploit the benefits like future business potential and profitability, low or medium investment requirement, moderate skillset and not a long-term experience requirement along with the ability to survive in the adverse economic situation. Having comprehended that here is a list of ideal small business ideas for 2020:
DISCOVER YOUR PASSION ON DIGITAL FACETS
Blogging: Channel your industry expertise into words or create a platform to express your views about different trends, news, changes happening around that audience in your niche can connect with. Happening mentioned that blogging tops the list of easy earning online with less investment but more passion and dedication as it requires consistency. Write content with a focus on creating SEO-friendly articles to increase traffic, getting paid via AdSense, promotions, and collaborations.
Social Media Manager: With social media audience increasing, there is a need for people with knowledge of the essential elements of social media managing. You can learn or brush your skills with Google and start managing social media handles for companies and individuals as your side hustle. This will include creating and strategizing creative content, being updated with the latest social media trends, while keeping up with the trends, posting relevant hashtags, increase following and connect with potential customers.
Affiliate Marketing: A popular area of online marketing, affiliate has become growing fields amongst our internet generation. Many small home-based business ideas list includes this point. Why? Because it enables users to earn commission by marketing or selling some other site’s product on their blog or website. You can use platforms like your website or your Youtube channel with a great audience base and then promote products/services. With each purchase of the same, you will receive a commission.
DELIVER NEED OF THE HOUR SERVICES
Virtual Assistant: opened a website and ding, here’s your welcome message. Well, this automated option is becoming popular and hence many companies now scout for virtual assistants to help them out with providing technical and manual support to their customers. You job profile will be to answer simple customer queries, perform minor tasks while you will receive money on hourly, weekly or monthly base.
Courier Service: Home deliveries becoming more prevalent than ever making courier one of the best business to start in India. This basically includes picking and dropping off parcels from one place to another, which requires a vehicle to pick and drop the item. You will get paid for your services offered and you can fetch around Rs. 25k to Rs 50k average with this job.
TEACH, BAKE, WRITE
Online Tutor: Edtech has now replaced schools, so chooing to share your education via online video classes is indeed counted as most profitable business in India. You will get paid hourly for your online tutoring services to individuals in their desired niche. You can visit many platforms to conduct online classes on Skype/Facetime, get paid by your student on an hourly basis, and earn up to Rs 70k per month, depending on your subject and class.
Online Bakery: There is nothing more appealing than incredible looking cakes with different icing, cookies and brownies especially when all of it can be delivered to your doorstep. Therefore, there is demand for the above mentioned that you can exploit if you love baking and want to build your first business around it, you can start a baking business online where you can customize the pricing of the items according to the item specifications.
Now, you can start with social media channels and update your offline bakery products there with an online menu, receive orders, create them and deliver them to earn Rs 20k to Rs 80k per month baking something you love.
Freelance Writer: A freelance writer delivers both effectivity and efficiency. They not only deliver what you want to express but are unable to, but also do the job faster saving highly significant time and money. You can visit websites like Upwork, Freelancer & Guru offer freelance writers an opportunity to bid on projects online and work independently as a writer.
All you need for these business ideas with high potential of success is your skills and a laptop. Take opportunities and make the most of it.