Business ideas are everywhere
Twenty years ago, most people wouldn’t have imagined starting a business to make money online through apps, virtual services or online products. Technology is always changing the world and small business opportunities are growing.
Whether you’re looking for a way to work from home or setting up a company with separate premises, here’s where you might find inspiration and business opportunities.
Online business ideas delivered to your door
According to IBISWorld, Australia’s largest provider of industry-based research, four of the top five growth industries in Australia for small business are in online sales. There’s a huge market for people to buy groceries, books, toys, pet food and other supplies from the convenience of their smartphone, laptop or other devices.
With an online business model, it can be helpful to start small and scale up as you need. This way you can check that there’s a market for your business, build your customer base, experiment with different types of online marketing and avoid having a house or office full of lots of stock that could take a long time to sell.
Service-based business ideas served up from WA
As our population gets busier and more connected than ever, there are many new opportunities to provide services across a range of industries. Have you ever wished there was an easier way to get things done or a more streamlined way of managing certain aspects your life? There’s every chance you’re not the only one who wants a simpler, faster or easier solution – and maybe there’s a business opportunity there.
Our population as a nation is also getting older, so there are more opportunities than ever to launch a business to provide services in health care, aged care and keeping important social connections. Think about what skills, qualifications or training you have that could be of benefit to other people in some way.
The art of recycling business ideas
Imagine if the world only had one type of cola, cosmetics or laptop. At some point, other people have launched what became global brands by building on a market demand created by existing products and services.
This means you don’t need to be the next great inventor to start a business. It’s very important not to steal other people’s ideas and intellectual property, but you might find it encouraging to remember that you don’t always need an original product or service. You just need an original take on it – and a law-abiding and profitable way to deliver that product or service to your customers.
From IBISWorld’s list of the Top 20 Growth industries in Australia, here are the areas that lend themselves to small businesses:
- Online book sales
- Online pet food and pet supply sales
- Online toy sales
- Online household furniture sales
- Online baby product sales
- Fast fashion
- Smartphone app developers
- Data storage services
- Online sporting and physical recreation goods sales
- Online video game sales
- Internet publishing and broadcasting
- Online shopping in Australia (such as consumer electronics, kitchen and dinnerware sales, handbag and luggage sales, small electrical appliance sales, women’s clothing sales and online travel bookings)
- IT security consulting
- Personal welfare services
- Online men’s clothing
- Organic cosmetics and toiletries distributors
If you’d like to discuss your business idea with experts in how to start a business in WA, contact our free business advisory service. We can also help you with free access to IBISWorld reports and data to help you research whether your small business idea is viable.