5 best business ideas in 2023
1. Online bookkeeping
Like many other professions, bookkeeping has gone online. This is great news for many bookkeepers and accountants who feel trapped in the office environment and long for more personal freedom and the ability to work during their own hours.
With easy-to-use accounting software and appointment-setting tools available, it’s never been easier to set up and manage client accounts.
- Business type: Online
- Investment: Low investment ⬇︎
- Potential: Low value ⬇︎
- Good for: Stay at home parents ✔
2. Business broker
A business broker assists the transaction between buyers and sellers. They must have adequate training and comprehensive knowledge of business law and standard practices in their respective industry. Business brokers are rewarded with commissions for the sales they make.
- Business type: Online
- Investment: Low investment ⬇︎
- Potential: High value ⬆︎
- Good for: Undergraduate students ✔
3. Office space rental
Office sharing is a booming industry largely driven by the needs of young entrepreneurs creating the next Google or Amazon.
If you already own a suitable property, you will only have to bear relatively low startup costs. However, this is a substantial investment if you don’t already have suitable property.
- Business type: Offline
- Investment: High investment ⬆︎
- Potential: High value ⬆︎
- Good for: Stay at home parents ✔
4. Language translation
Despite the impressive advancements of machine translation, the demand for skilled translators is still high value and will probably remain so for quite some time.
You can start looking for work on platforms such as Fiverr or Upwork and slowly build your clientele. It’s also a good idea to directly contact popular bloggers or a freelance writing business and ask if they would consider having their blog work translated into another language.
- Business type: Online
- Investment: Low investment ⬇︎
- Potential: Low value ⬇︎
- Good for: Stay at home parents ✔ undergraduate students ✔
5. Importing electronic original equipment manufacturer gadgets
If you look at top-selling items on Amazon or eBay, you will probably notice many are imported. The formula is fairly simple: purchase your initial inventory, create a brand, and then market and advertise your products online.
You can even use dropshipping or Amazon fulfillment services to do the whole thing and increase your average order value without a physical warehouse.
- Business type: Online/offline
- Investment: High investment ⬆︎
- Potential: High value ⬆︎
- Good for: Stay at home parents ✔ undergraduate students ✔ kids and teens ✔
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