Good Business Ideas to Explore in 2020

Posted by under Business, Income Opps . Published: January 29, 2020

Last weekend, my live streaming session was all about good business ideas for 2020.

If you missed it, then don’t worry. Below are the business opportunities that I mentioned, which I believe are worth exploring if you plan to start a business this year.

PLANT-BASED DIET

People become vegan for a variety of reasons.

Some are born into it because of their parents or religious beliefs. Some go vegan for their health. And there are those who choose it out of concern over animal rights and/or the environment.

Regardless of the reason/s, consuming a plant-based diet has become more popular in recent years. And thanks to the Netflix documentary, The Game Changers, many Filipinos have become more aware of what veganism is all about.

I have friends who went vegan recently and their number one challenge is finding places that serve delicious vegan food. And that right there lies an opportunity for those who plan to go into the food business.

Business Ideas:

  • Vegan restaurant or at least, offer a good variety of vegan options
  • Vegan snacks
  • Vegan recipes, which you can sell as a coookbook, write about on a blog, or a cooking channel on YouTube
  • Starting a farm, and be a local supplier
  • Import / export business for vegan ingredients

REMOTE WORKERS

Working from home is now widely accepted around the country.

Most remote workers are online freelancers. But there’s a growing number of companies, who are allowing employees to work from home on occasion.

Many have an impression that those who work from home are very lucky. However, they have their own set of problems and challenges, that entrepreneurs can consider addressing.

Business Ideas:

  • Co-working spaces, cafes, or similar venues, which can cater to remote workers
  • Food delivery services, either for your business or as a service in your area
  • Sell home office products, such as laptop tables, small filing cabinets, and other office supplies
  • Accounting and admin services for freelancers
  • Creating an agency for online freelancers
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CONTENT CREATORS

A friend who works in the digital marketing space claims that 2020 will be the year of the Content Creator.

Bloggers ruled the Internet during the 2000s. These bloggers evolved in the 2010s and became video bloggers, podcasters, and social media influencers.

Realizing that there’s money to be made in this space, actors, artists, and other celebrities started to invest on their own online presence. And because they can easily get more followers, most Internet personalities eventually lost their edge and ended up on the sidelines.

However, it’s predicted that the 2020s will be less about having lots of followers, and more about creating an impact online with high-quality content — something that Hollywood celebrities, for example, can’t easily replicate.

Online content will now move its spotlight towards original story tellers, video producers, and visual artists, to name a few.

Business Ideas:

  • Support for content creators, especially in terms of digital marketing. For example, an agency that provides social media management for content creators who are too busy working on their craft.
  • Advertising network and support to help content creators monetize their works
  • Learning courses for those who would like to become a content creator. For example, live workshops on photography or story telling; or online courses on podcasting or video blogging.
  • It’s good to note that content creators mostly work from home, so the same business ideas above are also viable

The Foundation of a Business Idea

It’s important that a business provides a solution to a problem. This is the foundational principle of entrepreneurship.

Last October, a friend put up a car wash business because she observed that it’s a service that’s severely lacking around her area. It turns out that she’s right, because her car wash has really been earning good profits since it opened last December.

The business ideas given above are from my own research and observation. It doesn’t fully represent the business landscape for 2020. My hope is to simply give you a glimpse of what’s new in the horizon, as far as what I see.

Thus, like my friend, you can simply open your eyes and see if there are opportunities that’s already present around you. Most of them are not part of any business trend, but they could nevertheless possess great income potential.

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