You’re never too old or too young to start a new business. Whether you’re fresh from university or are newly retired and looking to make a little bit of extra income, everyone has their own unique set of skills, which can potentially be utilised in a new business venture – you just need to find that key business idea that matches your particular skill set and answers customers’ demands, so get your thinking caps on!
If you’re great with technology or are a social media whizz, could you apply this knowledge to a new business? If you’ve had a longstanding career, are there any aspects of your role that you’d like to branch out into? Or perhaps you have a hobby that has the potential to become a profitable business?
Below we’ve suggested a few upcoming business trends for the new year, no matter what your age, to help get those creative juices flowing.
In this day and age, the opportunities are endless for digital- or technology-based businesses. Perhaps you love coding and have the expertise to develop your own app, new software or new websites, specialising in an area you’re experienced in. Alternatively, could you repair and refurbish computers, set up as a freelance digital bookkeeper or build a social media marketing business?
If you’ve spent several years in a particular line of work or you have a hobby that you could teach to others, you may feel like you have the knowledge and experience to coach, teach or consult other individuals in your area of interest. From a financial advisor or life coach to a music teacher or calligraphy tutor – share your skills with the world, and get paid for doing it! What this looks like is entirely up to you; you may wish to set up online courses, fun group workshops or individual consultations.
Do you already have an online following or a partnership with companies that might sponsor you? If so then setting up a regular podcast could be a great way of earning extra money, and it gives you an opportunity to discuss topics that are close to your heart.
This is another idea that is so versatile and can be applied to many different business ventures. It doesn’t just have to involve wedding and party planning; you could decide to specialise in planning corporate events, team building days or local community events. Networking will be key with this, so it helps if you already have a few contacts up your sleeve!
Are you a stickler for punctuation and grammar? Then why not make it into a profitable business? Editors and proofreaders remain in high demand as both businesses and individuals value the importance of ensuring that their content is accurate, grammatically correct and reads well. Many proofreaders also tend to specialise in a particular area that they are experienced in, such as fiction, legal content or website copy, which is another great way that you can utilise your skills.
Ghost writer, blogger, SEO specialist, journalist or copywriter – the list could go on! If you love writing, this is a brilliant business idea for you, and there are so many different writing roles that you could decide to undertake, so choose one that fits with your skills and experience.
New business tips
Regardless of your age, setting up a new business is a hugely exciting, rewarding yet nerve-wracking experience. But it also gives you the incredible opportunity to do something you love to do. Of course there are lots of things you’ll need to consider and decide upon before taking that leap, so it’s important to do your research and to seek professional advice. Take a look at our tips for starting a new business to help you with some key considerations (you’ll also find some further small business ideas in that blog too!), and please don’t hesitate to get in touch if you’d like start-up accounting advice. There are so many start-up practicalities that we can guide you through, such as company formation, PAYE and cloud bookkeeping solutions. Visit our accounting services for start-up companies webpage to find out more – we’re here when you need us!