We’re not being presumptuous when we tell you that 2020 marks the golden age of small business and the entrepreneur. More and more people, like you, are choosing the self-starter route to success, as a refuge from the financial limitations and thankless grind of life as an employee. A record number of entrepreneurs are going solo with their hard-won skills and smarts, cashing in on trends, adapting old SMB and startup ideas to a modern age, and coming to flourish in the radiance of a digital marketplace.
Still, generating (and implementing) viable startup ideas in the online arena of 2020 may seem more than just a little daunting.
The notion of Adapting your existing SMB, walk-in store or vintage coffee-and-bagel truck to reach and appeal to millennial mindsets and an online audience may appear to be beyond your budget’s reach or demanding of more tech-savvy than you feel you have, but there is light at the end of the tunnel.
The good news is that the golden age of digital marketing and the revolutionary assistance of platforms like Yahoo Small Business opens your SMB doors to a vast and global network of potential clients and business opportunities. With a little help and a pocket of change, you can access and thrive in your niche; you may even find the inspiration to target a new niche altogether.
The following list of Fastest Growing Startup Ideas In 2020 represents some of the startup trends which are benefiting from the online business tools that entrepreneurs now have at their disposal. Individuals with the drive to join the digital business revolution are establishing profit-generating names for themselves in a thriving online market.
Ecommerce & Affiliate Sales
E-commerce sales accounted for 14.1% of last year’s total global retail sales and generated 3.5 trillion USD in 2019 alone.
If you’ve got an impressive product but lack the capital to open a walk-in shop, digital sales may be just what you need to realise your start-up dreams. Use platforms like Yahoo Small Business to establish a thriving e-commerce store, that keeps its virtual doors open 24/7, even when you’re on vacation! Affordable (and often free) tools like SEO and social media marketing help e-commerce shop owners reach and engage global markets, at a fraction of the cost of traditional advertising plans.
If you think you have a knack for selecting high-potential third party products, affiliate sales might be your answer. Affiliate blogging, banner advertising and opening affiliate stores on platforms such as Ebay and Amazon are fun, easy and increasingly profitable ventures in 2020. This is a great option for entrepreneurs who are keen to sell, but not to design or manufacture, their own products.
Creative Services & Teaching
If you have a talent for graphic design, a flare for writing or the knowledge and personality to educate, your talents could mean big business online in 2020 and beyond.
Nowadays, clients are primarily looking online for these essential creative services and, provided you have the necessary skills, you can help yourself to a piece of that worldwide pie. With our customized online tools and a little passion, self-starters, like you, are opening online creative services and teaching businesses every day, and they’re flourishing.
The sky’s the limit when you take your skill online…and the startup costs, believe it or not, are minimal.
Artisanal & Niche Products
Craft beer now accounts for a staggering 24% of the $114.2 billion United States beer industry, with that number only expected to grow, leading up to 2024.
Whether it’s vintage refurbishment, cleverly named craft beer; healing CBD oils; soothing confetti bath-bombs; vegan meal-boxes, organic-food-trucks or handmade man-bags, 2020 has you in its sights! Artisanal and niche produce has been trending for the past 5 years (and will likely continue to do so), showing considerably more growth than the produce of big industry and well-known brands.
Digital media and the influence of millennial mindsets have opened a floodgate in which the demand for these niche items is insatiable. Even more promising for niche SMBs is the fact that, for artisanal buyers, variety is the name of the game. With the marketing guidance of Yahoo Small Business, your independent brewery could be filling orders for international clients by the end of 2020.
IT & Digital Services
Global spending on IT services is expected to reach the record 1.1 trillion USD mark, leading up to 2021.
Whether you’re a web developer, SAAS or IOT provider, mobile app developer or a social-media & SEO marketing expert, the more people there are on the internet, the more demand there will be for your services. Luckily there are tools at your disposal that can allow you to get your foot in the digital door, even when capital is in limited supply.
Artificial intelligence (AI), edge computing and the internet of things (IOT), cloud-services, hyper-personalization and online-marketing are all flourishing start-up trends. Regardless of your IT niche, developing your online business plan and getting your name out there with a website, SEO and social media marketing could make your entrepreneurial dreams a reality.
Remote assistants, career coaches, drivers, personal shoppers, dog walkers and house-call hairdressers are all seizing the business opportunities of the digital age. People are busier than ever and hungry for friendly assistance with a flurry of day-to-day tasks and personal matters, and the fact is that advertising in a newspaper column is unlikely to get you the exposure you need to succeed in 2020.
Regardless of how local or exclusive your startup idea is, the internet is where your personal service can make the leap from small-time wishful-thinking to trendy and viable SMB. That’s because, in 2020, even clients looking for a localized service, like personal shopping, will search for suitable offers online first. With the right branding approach and the necessary SEO to reach and engage your target market, you could become the busiest shopper in your area by 2021.
We hope this window into growing startup ideas for 2020 has given you sufficient motivation, because now is the time to take action. Perhaps you’re finally ready to take your existing SMB online or maybe these ideas have helped you pinpoint just where your unique skillset can make an impact.
Either way, it’s encouraging to realize that, in 2020, you don’t necessarily need a ton of capital or a long list of employees to launch your startup business, all you need is passion and the right set of tools….
Take your startup idea to the next level today, with Yahoo Small Business.