In this article, we will take a look at 5 easy-to-start small businesses that could elevate your income. If you want to read our detailed analysis, you can go directly to 20 Easy-to-Start Small Businesses That Could Elevate Your Income.
5. Launch a Newsletter
Compound Annual Growth Rate (2022-2032, Future Market Insights): 17.00%
Expected Market Value (2032): $59.8 Billion
Email marketing is one of the best ways to establish a relationship with customers. Launching a newsletter is one way to keep customers connected. To launch a newsletter, business owners can look through platforms like Substack. Targeting a niche segment would be the best way to gain a competitive edge.
4. Mobile App Testing
Compound Annual Growth Rate (2024-2029, Mordor Intelligence): 17.38%
Expected Market Value (2029): $16.71 Billion
The mobile app testing services market is expected to grow to $16.71 billion by 2029 from $6.56 billion in 2024 at a compound annual growth rate (CAGR) of 17.38%. Business owners can help develop strategies or software to test a mobile application’s algorithm.
3. Virtual Assistant Services
Compound Annual Growth Rate (2021-2028, Business Research Insights): 22.30%
Expected Market Value (2028): $8.61 Billion
Providing virtual assistant services is one of the best easy-to-start businesses. The world is a global village and people can access global markets. The use of artificial intelligence and natural language processing has enabled the provision of services to be even faster and smoother. People can remotely offer their services to companies and organizations either through freelancing or by setting up their virtual assistance firm.
2. Dropshipping
Compound Annual Growth Rate (2023-2030, Grand View Research): 23.40%
Expected Market Value (2030): $1.25 Trillion
Dropshipping essentially saves a lot of inventory ordering and holding costs for businesses. Budding entrepreneurs can sell niche items through dedicated platforms such as Alibaba, Amazon, and Etsy. Some of the most popular products in the dropshipping industry include toys, DIY items, furniture, appliances, personal care items, electronics, and fashion products.
1. Print-on-Demand Services
Compound Annual Growth Rate (2023-2030, Grand View Research): 25.80%
Expected Market Value (2030): $38.21 Billion
Customized print-on-demand services are one of the best easy-to-start businesses that could elevate your income. Business owners can offer printing on t-shirts, mugs, home decor items, and other crockery items. Allowing customers to create designs through generative AI may be a key feature.
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