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According to data gathered by The World Bank, Australia is currently ranked as the 14th best economy in the world for ease of doing business.
And, not only that but the country’s startup scene has also been flourishing in recent years, solidifying Australia as a great place for new businesses to begin their journey.
However, for those who have an entrepreneurial spirit but are currently short on ideas, there are several simple but effective options you could consider. Particularly good for people who don’t want to invest a great deal of money right at the start, these five business startup ideas will help you get the ball rolling. Remember: there’s always the option to expand in the future.
Everybody needs and loves food. So, why not center your business idea around this staple of everyday life? While there isn’t a whole lot of scope for innovation within this particularly crowded marketplace, there is a ready-made audience for your services. As long as you can provide food that is high quality or convenient, you’re sure to do well.
You could go down the route of offering private catering services, which is a business model that has fared extremely well for recent startups like Gathar. Or, if you have a passion for nutrition, you could consider becoming a nutritional consultant. In a world in which everyone is hyper-aware of what they put into their bodies, offering clarity could get you far.
Unfortunately, Australia does not have a good track record for recycling. In fact, in 2019, just 9.4% of all plastic waste was recycled. However, the government is attempting to change this up, with action plans in place across the country to help improve recycling rates.
If you wanted to make the most of this shift towards more sustainable waste practices, you could offer convenient recycling services in your area. Whether you decide to transport the waste to recycling plants or transform it yourself into something new, there’s good money to be made for eco-friendly businesses.
Digital marketing has become more important than ever in the last year or so. While the drive to digitize was already accelerating prior to 2020, the coronavirus crisis forced businesses to adapt faster than anyone anticipated to an increasingly online world. As such, you’d do well to capitalize on the current momentum.
Not only are digital marketing services in high demand at the moment, but it will be quite easy for you to get started and build your team, too. All you’ll really need is a niche, a solid business plan, and some spare time. For people looking for a side hustle that they can take further in the future, it’s worth considering starting social media management or website design business.
No matter which niche you pick, make sure you understand the importance of identity security to prevent vulnerabilities against cyberattacks on both your business and your personal data.
Recently, online delivery has shot through the roof, once again as a result of the pandemic. Since the start of restrictions back in March of last year, the average value of online orders worldwide has increased by an immense 75%. Consequently, demand for delivery and shipping services has shot right up.
If you have your own vehicle, then offering delivery services for local businesses or supermarkets is one option. Or, if you’d rather not do the delivery yourself, you could instead consider dropshipping. This is a business model in which you would manage your own online shop with the help of WordPress dropshipping plugins, and supply partners would deal with the storage, packing, and delivery of your products.
If you have something that other people want, for example, a car, a room, or tech equipment, then renting it out for a fee would be a good source of extra income for you. All you’d need is a platform on which to market your product or services so that people in need can easily find you.
A rental business is a good place for budding entrepreneurs to start, not least because it gives you the freedom to choose when you want to offer your services out. Plus, if things go well, you could always invest in more space or equipment and grow from there.
Figuring out the perfect business idea isn’t always easy, particularly for those wanting to start small. But, no matter how big your budget might be, there are options out there that are likely to bring you great success.
Luke Fitzpatrick has been published in Forbes, Yahoo! News and Influencive. He is also a guest lecturer at the University of Sydney, lecturing in Cross-Cultural Management and the Pre-MBA Program. You can connect with him on LinkedIn.
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