What are the best business ideas to develop in 2020?

The global COVID-19 crisis has brought about many changes in how we do business. Certain sectors, however, are starting to thrive in response and predictions made this year state that there will be opportunities for many small business ideas in the future. The key is to find the right area to work in. If you’re a budding entrepreneur looking to start your own business, here are some possibilities to explore. 

Skilled trades
Unfortunately, a significant skills gap has been predicted in many trades. In fact, over 50% of job openings (arising from baby boomers leaving their roles or taking retirement) are predicted to go unfilled by 2028. This means there will be opportunities if you want to start a business in an area like welding, carpentry, plumbing, or electrics. If you or your staff need training in first aid or any other practical skills, contact the Skills Training Group for expert advice. 

Meal kits
Delivery meal kits are doing really well right now. Some catering companies are providing complete meal services, be that for specific diets, while others are offering a home cooking aspect. Customers can pick and choose prepared ingredients, and find out about their nutritional value. These products have been popular as they offer something between takeout and a healthy meal plan. In fact, many local businesses are starting to provide a service like this. If you have catering experience you could certainly look into this further.  

Data management
Data jobs are in demand at the moment. The crisis has made people aware of a growing need for cybersecurity and data protection. With the mass implementation of data analytics software, managed service providers, and cloud backup systems, if you have a tech background then this could be a good area to get into. 

Augmented Reality 
This is a useful development in many fields. Design and architecture, for example, are doing well with AR products as they can display a virtual example of their client’s house, bringing the end result to life and resulting in an effective sales process.

There are many opportunities for AR to grow in different areas. It could add a social experience to business meetings or other virtual events. Everybody has become dependent on platforms like Zoom and Microsoft Teams, so use this to your advantage. 

Fulfillment by Amazon Sales (FBA)
Amazon has developed the FBA program to enable small businesses to use their services, giving them an opportunity to get onto the retail marketplace. FBA sellers source products for their Amazon stores from their original ideas, that they manufacture, or from other local businesses and wholesalers. Amazon works as the middle man, for a fee of course, by advertising and distributing the products. 

If you are thinking of starting a small business the best thing you can do is to get professional advice for developing a website. SEO and digital marketing are a key source of client acquisition so your online presence is crucial. Make sure the world knows you’re the best in the field and with the right branding, the business will come flying in.


This is a collaborative post that was ghost written for More From My Career.

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