5 Business Ideas for Beginners
Are you planning to start a business but can’t decide on what to venture in?
Most aspiring entrepreneurs are usually confused on what kind of business they want to do. It’s risky to start a business, with fear that you’ll lose your investment. So, before you build your own enterprise, you need to consider capital, preparedness, workforce, and most of all, your business plan. It’s very important to be confident about your decision so you do not waste finances and time.
Growing your own business is definitely not an easy task, but this is not impossible if you have the right mindset. Embark on this journey of taking control of your life while providing employment and financial growth to your team. Here are 5 business ideas for beginners.
1. Accounting Firm
An accounting firm offers a wide array of services, from bookkeeping to more complex tasks like audits and tax returns. Companies likely hire accounting firms to handle their financial operations, to ease up the load and have more time to focus on business strategies. Accountants hired by these firms have to make sure that the records are precise and on time, but this proved to be a strenuous work, especially if done manually, so, accounting software like MYOB and QuickBooks can make the task easier.
2. Software Company
The software industry started expanding in the 1960’s after computers were sold in mass-produced quantities, that’s when business customers, government, and universities started to demand for software. Software companies in today’s world operate on myriad of different business models while providing a wide range of services. These include support services like software license sales, subscription fees, and maintenance services. Companies are now delivering convenience to their clientele by turning Software-as-a-Service, a concept known as SaaS and using cloud technology, where their clientele won’t have to install the software. Instead, they pay a subscription fee for access through the provider’s server, anytime, anywhere.
3. Financial Advisory Firm
When it comes to saving money, we are given choices, but experts usually suggest that we either invest it or put it in a bank. These experts are the financial advisors of a financial advisory firm. This enterprise’s job is to guide their clients in planning their short and long-term financial objective. They recommend investment products/services, negotiate and follow through insurance, manage debts, plan estates and taxes.
4. Stock Brokerage Firm
This business facilitates the buying and selling of financial securities; such as stocks, debt securities, bonds, debentures or any financial instrument that has monetary value. Staffs in this kind of firm is entrusted with the duty of researching the markets to provide recommendations. A stock brokerage firm also provides margin loans to approved clients to purchase investments on credit; subjected to terms and conditions. Meanwhile, traditional brokerage firms have become a source of up-to-date stock prices.
5. Professional Consultancy Services
This venture imparts expert knowledge to a client for a fee. Consulting is often used when a business needs a pundit opinion regarding a decision. Consultants in this company acts as an educator, a catalyst, or a facilitator, while leadership still remains in your company. This firm works with all types of companies and industry sectors, including marketing, non-profits, technology, and many more.