8 of the best businesses to start in 2023
Did you know around 50% of businesses fail in the first year? And 95% of businesses fail within their first 5 years?
If you’re looking to start a business, these statistics show just how important it is to start a business in an industry that people need right now, and will continue to need in the future.
For inspiration, here’s a list of 8 interesting business ideas for those looking to start a business in 2023.
1. A blog
If you love writing, journaling and journalism, starting a blog could be the ideal side hustle for you in 2023. As blogs are fully digital enterprises, it will also be easy to outsource to freelancers or employees more technical aspects around web-development, graphic design and SEO to get your blog ranking higher.
If you have a burning passion for blogging and it’s something you’ll enjoy working on and mastering before it starts generating any income, this could be the perfect business idea for you.
2. Fashion resale
At the forefront of every business today should be ensuring it’s either creating a positive impact on the world and our environment, or at the very least it isn’t having a negative one!
With more people now being more environmentally conscious and trying to live greener lives, fashion resale and rental businesses have boomed. The industry has a projected growth of 127% by 2026.
The financial barrier to entry depends on your logistics and business plan, but when you’re initially starting off, this type of business can have very low set-up costs.
3. Digital marketing services
Why not take a step back and consider what all these businesses out there need to succeed? Ultimately, there are no businesses without customers. And customers are achieved through effective digital marketing strategies and spreading the word about your business.
If you’re looking for an industry that combines creativity with an analytical and strategic mindset, offering digital marketing services might be the right business path for you.
4. Delivery services
If you’ve got a bit more cash to spend, starting a delivery service might be just the business idea you’re looking for.
Businesses that allowed people to more easily access the everyday things they need from home boomed during the Covid-19 pandemic.
Specialising in a particular niche will help you differentiate from Uber and Deliveroo, and starting local or in areas where you know Uber and Deliveroo aren’t currently operating or easily accessible will help you stand out from existing businesses.
5. Accounting and bookkeeping services
Similar to digital marketing services, every business also needs an accountant, bookkeeper or someone to help manage their finances. It’s one of those industries that will always be essential.
If you enjoy working with numbers, starting a business offering these types of services to other businesses or sole traders might be for you.
6. Develop WordPress themes
According to Hubspot, 36.28% of the top 1 million websites on the internet are powered by WordPress.
But ultimately not everyone can afford to hire a website developer to create a sleek and futuristic website for them.
Instead, you could start a business creating WordPress themes (essential website shells) that come with a range of editable features and options.
You can then sell your themes through a marketplace for start-up businesses or small businesses to purchase at a much cheaper rate than it would cost them to hire an actual website developer.
7. Personal training/fitness trainer
This is again, one of those things people are always going to want and need. Personal trainers are in high demand because everyone’s body is different. A strategy that works for one person may not work for another. At this point, people look for trainers to create workout and meal plans specifically for them.
Plus, promoting yourself and finding clients has never been easier with social media. Once you grow your presence and businesses, many fitness trainers also become social media influencers who end up creating new streams of income through brand partnerships, deals and collaborations.
8. Become a proof-reader
When you’re working on a project or piece of work yourself, it’s easy to make spelling and grammar mistakes and it can be hard to proof-read your own work.
That’s why often people and businesses outsource their content to be proofread by proof-readers, whose sole job it is to proofread copy for websites, blogs and even print material or reports. Just like a virtual assistant a proof-reader often adversities their services through a social media account and their own website.