7 small business ideas to start working on in 2021

Last year, we learned that things cannot always be within our control, a lesson that left aspiring entrepreneurs all over the world putting their small business ideas on hold. However, today in 2021, we can proudly say when it comes to business, we have a better idea of what works out and what doesn’t. Which businesses thrive, and which do not. Which of these businesses will succeed despite uncertainty, and which are not as sustainable. 

Thanks to the new normal which has enabled a majority of us to work from home, many individuals now have the time and energy to work towards starting a business. The timing could not be more perfect.

Many small businesses have sprouted during the pandemic. Some individuals did it to utilise their free time productively, while some were inspired to create solutions to the challenges people around the world were and currently are facing. For example, several small business owners have benefited from the demand for masks, santisiers, soap, and more skyrocketing.

Succeeding during an economic crisis, no matter who your small business ideas are meant to cater to is not a feat that recently became achievable. Airbnb was founded in 2008, just before the Great Recession hit, as was Uber. The first Hyatt hotel was opened during the 1957 recession. Microsoft was founded during the oil embargo recession that began in 1973. 

So if you have been wondering whether or not you should dip your toes into entrepreneurship this year, despite uncertainty, the answer is yes. Here are seven small business ideas you should consider looking into this year: 

Consulting

If you are knowledgeable and passionate about a specific topic, whether it is business, social media, marketing or human resources, starting a consultant business can be a lucrative option. Consider beginning on your own, then plan on hiring only as your business grows.

Online bookkeeping

Just like so many other professions, bookkeeping has gone online. This is great news for many bookkeepers and accountants who prefer having more personal freedom and the ability to work according to their own schedules.

With easy-to-use accounting software and appointment-setting tools available, it’s never been easier to set up and manage client accounts.

Data analyst consulting

With the rise of big data, more and more companies have had to make sense of information to adjust their overall business strategies. A data analyst is someone who has the technical expertise to do so, often having a background in economics, mathematics, or finance.

E-commerce

The industry has spiked by nearly 40% in the wake of COVID-19. If you look at top-selling items on Amazon or eBay, you will probably notice that many of these items are from China. The formula is fairly simple: you purchase your initial inventory, create a brand, and market and advertise your products online.

You can even use drop-shipping or Amazon fulfillment services to do the whole thing without a physical warehouse.

Medical courier service

If you have a reliable vehicle and good time management skills, you may want to consider creating your own courier service – more specifically, a medical courier service. 

Your job would be to transport medical items like lab specimens, prescription drugs and equipment. The healthcare industry is expanding, which is great for medical courier service job stability. You could start on your own or hire other drivers to work for you.

Personal cybersecurity software

Looking back at a Facebook breach which left about 50 million personal profiles vulnerable, we learned that basically anyone with a smartphone is at. It’s becoming clear there’s no telling whether or not we’re completely safe when we go online.

With that being said, there is no doubt that individuals will be drawn to software that promises cybersecurity. A small premium will always be worth it for peace of mind.

Services for the elderly

According to the data presented in the US Census Bureau, the number of elderly may surpass the number of children by 2030. This shift in demographics may provide a potential business opportunity for elderly care.

Luckily, you don’t need a background in healthcare to help seniors and grow a successful business at the same time, although those skills are in demand as well. Many seniors need help with their errands. With some experience, you could consider growing your business to help seniors transition from their homes to assisted living facilities, offering services such as packing, transporting, setting up, or storing their furniture and possessions.