New year and new opportunities await.
2024 is just around the corner. Who would have thought 2023 is nearly over, its last twilight is gleaming in the midst of shortened days, colder temperatures, and approaching holiday season.
Such a time is the perfect occasion to look back, to take stock of where you are in life, and to consider what you’d like to happen in 2024. If you’re a budding entrepreneur and looking to start up your own business come the new year then this article is specifically for you.
If becoming your own boss and establishing your own business is something you wish to pursue this coming new year, do you know what specific area you want your business to concentrate on? Not every entrepreneur-to-be has a clear idea and vision for their business; for some it’s discovered through a process of consultation and elimination, for others they happen upon it almost by accident, while for others it comes into focus only after having to alter course from what they originally planned.
Regardless of where you are currently, we thought to lend you a helping hand and consulted professional experts in market trends for new entrepreneurs and in this article, we will list the 5 best online businesses to consider starting up in 2024.
This is, of course, not an authoritative list but rather a guide to (hopefully) point you in the right direction as you start your journey to commercial success.
Ready for tips to a bright future? Let’s go…
1. Publishing
One of the most promising, potentially lucrative, and prominent new businesses on the rise today. Online publishing has been something a boon in recent years as more people use the internet as an alternate source for literary works over more traditional means.
As internet usage has increased 82% since 2012, there is an ever-increasing demand for digital online content and no shortage of potential writers willing to be published. And one of the best things about online publishing is the high scalability of it; from writing your own blogs to publishing other peoples, hiring ghostwriters and editors can expand your content volume even further, leaving you ample opportunity to expand into such areas as PR consulting, email marketing, and online tutorials.
2. Digital Marketing
This is currently-booming sector for online businesses and for good reason. It’s important for every commercial venture to get themselves noticed in the noise of the business world, and one of the best ways to do that is through online advertising.
A digital marketing firm handles online advertising, SEO, social media, and online marketing strategies. It is both potentially lucrative as well as opening multiple opportunities for scalability and market expansion.
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3. Bookkeeping
Among the most profitable online businesses with exceptionally high cost>profit ratios, bookkeeping is an increasingly viable option for many businesses.
As a freelance bookkeeper, and in handling clients’ finances and revenue, not only will you have to be skilled and experienced but very trustworthy too. But for those who successfully operate such a service, it is a lifelong and lucrative one to be involved in.
4. E-commerce
Encompassing a wide array of products on an equally wide range of platforms, e-commerce is one of the most prevalent forms of online businesses.
Whether you have your own website or act as a third-party vendor on such sites as Amazon, eBay, Shopify, or Etsy, there is massive scope to be not only profitable but also opportunity for expansion into new markets.
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5. Web Design
With websites and mobile apps now an intrinsic part of everyday life, and with over 4 billion daily active users online, having a website is an absolute must for any business in this day and age.
And with the increased number of websites comes the exponential demand to design and create them. Website design is a business that has mushroomed in the last 15 years substantially, and is predicted to expand by 29% in the coming years. Being a website designer involves low startup costs but if you build enough of a customer base, you can literally write your own ticket on how much you charge, depending on the client.
These are all just a snapshot of potential online businesses to be embraced but we hope they’ve provided food for thought to your starting out on your entrepreneurial journey. All success to you!