10 Most Profitable Small Businesses To Start in 2015 – Insider Monkey #business #loans
#most successful small businesses
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Published on August 20, 2015 at 11:09 am by Atif Munawar in Lists
If you are a fresh business entrepreneur, here is a compilation of 10 most profitable small businesses to start in 2015. Not only will it give you a chance to establish yourself in the market but it will also help you make handsome money this year. These ideas for small business are not just money-making but also captivating at the same time. Through this article business amateurs will relish their work while enjoying their targeted economic benefits. Entrepreneurs must realize that even the most profitable business require dedication and hard work.
It is important for a businessman to realize that a successful business is the one that answers to most people s demands. It is instrumental to comprehend that not every business idea has to be complex. Sometimes it is the simplest concepts that intrigue a common man. This article will also help you mark the most common public requirements which can help you mold your business accordingly so that you can extract the most out of your small business setup.
Some of these ideas may be more profitable while others may give you a stable earning. There are business ideas that are potentially much more profitable than they seem to be. The following list of small business ideas will definitely help you to start a business that suits your style and earns you well.
Having the right software for your business needs can mean the difference between getting things done or. having tasks linger, unaddressed, on your to-do list.
Unfortunately, most top software companies often focus on larger businesses. rather than small enterprises. As a result, many of their solutions are either unaffordable or loaded with features smaller companies don’t need.
Not all software is this way. More and more, software providers are offering small business versions of their enterprise solutions or are targeting the small business market with programs uniquely designed to meet its needs. If you’re in the market for a new tool, here are a few of the top small business software solutions to consider in 2015.
If you’re like most entrepreneurs, chances are you’re good at what you do–but significantly less practiced at the administrative side of running a business. But whether you’re knowledgeable or not, needs like accounting must be taken care of. Any of the following tools will help get your books in order, whether you do so in order to manage your own finances or to pass your information on to your CPA.
One of the most recognized names in small business accounting, QuickBooks offers both desktop and online versions (depending on the needs of your company and the experience of your team members), you may prefer one over the other. Regardless of the option you choose, Quickbooks is reasonably affordable, though taking full advantage of the program does require a bit of training.
As an added bonus, most accounting firms are experienced with QuickBooks. If you plan to seek outside support for your business’s finances, give this program a shot, as its widespread familiarity will make transmitting your data to your accountant a snap.
If QuickBooks proves to be a bit of an overkill for your startup’s needs, check out FreshBooks. This cloud-based accounting software program is easier to use than QuickBooks and supports over 50 integrations–including payroll and email programs. FreshBooks features a 30 days free trial and subscription-based pricing from $19.95 per month up to $39.95 per month after this period.
Another cloud-based accounting tool, Wave Accounting has been named the best free accounting software for small businesses by Business News Daily. It’s important to note that Wave is for very small businesses–in particular, companies with fewer than 10 staff members will get the most out of this QuickBooks alternative. That said, it provides excellent functionality for free, with free user forums for support or live support packages starting at $9 per month if your needs are more complex.
Scaling your startup by bringing on employees is a major milestone for small businesses. But despite the game-changing nature of this step forward, few entrepreneurs take the time to fully address their human resources needs or to implement the HR technologies that can streamline these systems.
Instead of letting your human resources needs get out of control as you expand, put one of the following tools into place as soon as possible:
This all-in one human resource software program gives you access to benefits management, payroll processing, onboarding tools and more. Even better, many Zenefits features can be set to run automatically after your initial configuration, significantly reducing the amount of time you need to spend on these tasks on an ongoing basis.
As an added bonus, if your small business uses contractors rather than–or in addition to–regular employees, Zenefits makes it easy to manage their details as well, allowing you to track their compensation and handle their tax needs from within a single program.
Like Zenifits, BambooHR is a cloud-based HR system that’s simple interface and intuitive design make it a great fit for small and medium sized businesses. Although the program is exclusively an online human resource information system, it does integrate with other payroll solutions or applicant tracking software, giving you easy access from one central dashboard.
Finally, sumHR is a great small business HR software program that focuses on attendance, leave, and payroll functions. If you’re looking to take your employee directory out of the spreadsheets and into a professional program, sumHR may be the solution for you. The company is also planning on adding new features soon, including reporting and performance reviews, making it one to watch into the future.
Plenty of small businesses have scheduling concerns to deal with, whether yours come in the form of hourly workers or customer appointments to be booked. But despite the widespread nature of this problem, many of these companies still rely on outdated pen and paper scheduling books which are both time-consuming to manage and vulnerable to human error.
There’s got to be a better way–and there is! Check out any of the following programs for your scheduling needs:
When I Work
Scheduling staff hours doesn’t have to be difficult–When I Work makes the process intuitive and simple, helping to reduce absences and avoid employee miscommunications. When I Work offers mobile accessibility so that staff can see their schedules, trade shifts among themselves and request time off while on-the-go. The program’s pricing comes as a monthly subscription fee that’s based on the number of staff you manage–up to 20 staff can be scheduled for $29 per month.
If you have clients that need to make appointments or you offer classes that your customers need to sign up for, Booker makes it easy. Once installed, you can attract customers from your website or social media profile and bring them to a central site where they can then book appointments. The site is optimized for mobile users, making it easy to build relationships with clients through the program’s provided messaging and retention tools.
Another solution for online booking, Genbook allows your customers to book appointments while also giving you the tools needed to manage your business, staff, and reputation. Genbook allows your former customers to post reviews of your company, giving you immediate credibility with new clients. Your staff can access the schedule and receive reminders, and you can publish promotions and share them on social media. To give this innovative program a try, take advantage of Genbook’s 30-day free trial (post-trial prices range from $20-$70 per month).
Small business software can be a difficult world to navigate, but the good news is that there are plenty of companies out there doing it right. Whether you need help with your accounting, human resources or scheduling needs, the software listed above will help launch your company successfully into 2015.
What’s your favorite small business software program? Why? Share your recommendations by leaving a comment below!
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.
Want a New Business Start in 2015? Steal One of These Ideas #best #online
#new business ideas
I started thinking up potential large businesses to start a few years ago. It was, for lack a better term, a teaching tool.
I was looking for a way to communicate that the place to begin, if you are thinking of trying to start a company, is with a market need-and not a new idea.
Ideas are too easy. My guess is you could come up with 10 new business concepts before lunch, if you had to.
The problem is once you come up with that idea–say you are going to construct real housing out of Lego blocks, something that has always struck me as a cool idea==you then have to go and figure out if it is feasible, and if anyone-other than an 8-year-old-would live in if it were.
If you have identified a market need, then you are assured that you have a market–the people who have the need.
But is starting with the market need the only way to start a business?
Obviously not. You could start with the idea. And therein lies a potential benefit for you.
Each of the following ideas are yours for the taking. (All I ask is you make a large contribution to the charity of your choice should they make you rich.)
1. Personal shopping for the masses
This one struck me over the holidays. It has been a long time since I had to go shopping for 8-year-olds. Wouldn’t it be lovely if there was a personal concierge you could call who could walk you through what is popular and/or appropriate? High end department and clothing stores already have this service. This would make it available for the rest of us. (And if mass market stores like Target and Toy “R” Us wanted to offer this service to me, I would be happy to pay them for it.)
2. No more, “For customer service, please hold.”
I am usually willing to trade (a little bit of) money for (a little bit) more time. And while you can do mundane things while waiting on hold when you call the cable, phone or electric company, it really is a) annoying and b) the classic waste of time. Your charge? Figure a way that I can pay a couple of dollars a month in exchange for the various companies letting me jump the line when I need help. I don’t think it would be that hard. It really is just a different form of caller ID.
3. A place where you can sell your killer recipes
There are literally millions of great cooks out there. (My wife among them.) And invariably a great cook comes up with a great recipe–or 10. There should be some sort of marketplace to sell them. This idea already exists in other places. For example, people who crochet can sell the patterns they create on Etsy.com
As I said, I am not going to be doing anything with these ideas. I hope they make you a fortune. (As I said, just play it forward once you do.)
#small business finance
Small Business Finance Markets Report 2015/16
The Small Business Finance Markets Report 2015/16 shows that the market for small business finance is improving, however a number of challenges remain:
- A lack of businesses scaling-up is hampering UK productivity – there remains a need to stimulate a greater volume of scale-up businesses and SME exporters to counteract the UK’s lagging productivity. OECD data shows that Britain is near the bottom of the table for the percentage of businesses that grow to more than 10 employees after three years.
- A need to delivery further diversity in the small business finance market – there is an ongoing need to accelerate the evolution of a diverse and accessible range of finance options to drive competition and choice for smaller businesses. The four largest banks still account for 80% of the small business loan market in 2014, with many small businesses not looking at alternative finance options beyond their main bank.
- Supporting growing SMEs across all UK regions – the finance landscape remains uneven across the UK. To help rebalance growth, an increased availability of finance for smaller businesses across the UK is required. 71% of total SME equity investment is accounted for by London and South East based companies.
2015 Business Finance Survey: SMEs
This survey, undertaken by BMG Research for the British Business Bank, follows on from the previous 2012 and 2014 “SME Journey” surveys to explore SME awareness of different types of external finance and their experience of raising finance. We have extensively used the findings from this survey within our new Small Business Finance Markets 2015/16 report to assess how finance markets have changed.
Amongst the findings, this survey shows a continued increase in business awareness of alternative finance types, including peer-to-peer lending and crowdfunding. The research also shows that a higher proportion of SMEs are aiming to grow in the next 12 months (56%), compared to 46% in the previous 2014 survey.
2015 Business Finance Survey: Mid-caps
This survey, undertaken by BMG Research for the British Business Bank, assesses the characteristics of mid-caps (businesses with £25m-£500m annual turnover) and their experience of raising external finance. The survey finds that mid-cap businesses are more likely to use and seek external finance compared to SMEs, and are also more likely to obtain finance. In addition, a high proportion of mid-cap businesses (79%) are aiming to grow in the next 12 months.
Methodology Consultation: Assessing the Unmet Demand for SME debt finance
The British Business Bank would like to consult with interested stakeholders on appropriate methodologies for assessing the unmet demand for SME debt finance. The consultation seeks views on our proposed methodology and suggestions for alternative methodologies or additional data sources.
What business to start in 2015: Starting a business advice and business ideas #small
#businesses to start
What business to start in 2015
The desire to become your own boss and work for yourself is growing and in election year the economy will inevitably be a key policy battleground, meaning small business-friendly pledges will be made.
With signs of revival and chancellor George Osborne’s recent promises of renewed business support and an extra £1bn funding for regional growth some might argue the climate for starting a business has never been better, making 2015 a great time to take the plunge.
Action point: Need a loan to start a business of your own? See how we can help here and here
This appetite for starting a business isn’t just hype; StartUp Britain reported a record 581,173 new businesses for 2014. markedly higher than 2013 and 2012, and the UK’s eco-system appears to be in good health with ONS figures showing a 6% drop in the number of British firms leaving the Companies House register.
Britain is expected to be the fastest growing G7 economy in 2015 – the IMF has predicted a 3.2% overall rise – and while London remains the start-up capital. regional start-up hubs are beginning to flourish with Manchester, Birmingham and Glasgow fast gaining reputations as top cities to start a business in .
It’s on the back of these positive indicators that we look to the coming months and the hot sectors and businesses opportunities that could prove fruitful for those looking to start a new venture. We’ve studied and assessed businesses which are gaining market traction, sought insight from leading research bodies such as Mintel, and analysed consumer trends to bring you our predictions of 14 top businesses to start in 2015.
From foods and fitness to technology, cycling, and even cafes with a twist, there’s a host of start-up prospects to suit a range of skills and backgrounds and this extends to part-time businesses that can offer supplementary income such as starting a niche social network .
With the freelance workforce now over four million strong and more firms than ever before looking to hire freelance talent, we’ve also identified opportunities for freelancers and “solopreneurs”. This includes starting up as a growth hacker ; a combination of smart marketing and tech development which is becoming increasingly sought after in the start-up world.
While several of the business opportunities listed aren’t new, the potential to innovate and target an established market with a disruptive new solution – take protein products for instance – are plentiful.
Follow the buttons above and below to find out what business you should start in 2015…
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#small business ideas
Small Business Ideas in India
At present, there are a large number of young professionals who are looking to earn quick money with minimal investment. And with India’s growing economy, there are a lot of possibilities where one can venture into. The ‘Startup India, Standup India’ programme announced by Prime Minister Narendra Modi on Independence Day has been successfully inaugurated in Mumbai’s Thane district. In addition, the Union Finance Minister Arun Jaitley has assured the startups that both the government as well as the banking system would be making resources available to them. As someone who’s intending to enter the world of business, you can soon find a special tax regime that would enable you to foster innovation to an optimum.
Here is a list of business ideas that novice entrepreneurs, having minimal finance options, can utilise to earn maximum profit in minimal return period.
Starting Off with Rs. 1,000
A great business idea to start off with nearly Rs. 1,000 is ultra-short temping services. As a part of this business, the companies provide manpower services on a temporary basis to event management firms. The break-even period for this business is close to 10 months and a gross profit of approximately 20 percent can be expected. An important skill needed to make this business a success is networking. Organizing private tuitions is yet another excellent business idea to earn a handsome income with Rs. 1000. You can plan to be a private tutor by grabbing adequate knowledge about a particular subject. All you need to do is occasional investments associated with purchase of new books in case there is a change of syllabus.
Business Idea for an Investment of Rs. 7,000
A good business idea with a budget as minimal as Rs. 7,000 is a shoe-wash company. Earlier, canvas shoes were cleaned using old toothbrushes and detergent; however, nowadays people have moved on to trendy sneakers and want the shoes to be cleaned by people who are experts in the field, so that the shoes can be maintained properly.
In order to be successful in this business, it is essential to know how to use chemicals and a fair degree of marketing skills are also required. The break-even period for this form of business is at least three months. The businessmen can expect a gross profit of nearly 40 percent in this case.
Business Idea for an Investment of Rs. 15,000
Having a food delivery service is a great business idea if a person has around Rs. 15,000 with them. Nowadays, customers want the best food on their tables without making the efforts to go and get it and this is where a food delivery company can come in handy.
The main skills needed to run this business smoothly are sales and management. This business has a break-even period of two months at the very minimum and can provide gross profits of nearly 20 percent.
Business Ideas with INR 20,000
If a person wants to start a business with Rs. 20,000, they can start making uniforms. Nowadays, even business schools and medical and law colleges are making it mandatory for their students to wear uniforms. Interested businessmen can establish contacts with uniform manufacturing companies and provide dresses at convenient prices. The most important skill in this business is man management and it takes almost a year to break even.
Business Ideas for an Investment of Rs. 50,000
Property management can be a great business idea if you have a start-up capital of approximately Rs. 50,000. The businessmen need to find out a proper workplace and take responsibility for their detailed documentation procedures and thus save a lot of their time. Adequate sales and marketing skills are needed in order to be successful in this business. The company can achieve break-even status within a month and expect a gross profit of around 50 percent. Yet another profitable business venture in this range is phone-based business consulting services. These days, several entrepreneurs are looking to make a name for themselves and the time is right for experienced businessmen to make the most of their skills and knowledge and guide these young enthusiasts with some good business plans. Networking is a critical skill needed to flourish in this business that can take almost four months to come on break-even terms.
Wedding planning is also a good business idea when you have got Rs. 50,000 to start with. Today, wedding ceremonies in India are being organised and celebrated on grand scales and the celebrators might not have the time to properly attend to every little nuance as a lot of time is required in this as well. Wedding planners can help people in such situations. Creativity is the name of the game in this business domain that can provide gross profits of almost 15 percent. However, achieving break-even status will depend on the quality of projects that the company gets.
Concierge services such as babysitting and medical treatment can be started with an initial capital of Rs. 50,000 or more. Network communication capabilities are the most critical skills required to do well in this business that can take at least half a year to achieve parity and give approximate gross profits of 10 percent.
Housekeeping services for hotels is a proper business idea if an entrepreneur has Rs. 50,000 to start with. With the hotels looking to keep their rooms sparkling clean, this is a good business idea. Good communication and man management skills are necessary to succeed in this domain. This business can provide gross profits of almost 20 percent.
Business Idea for an Investment of Rs. 75,000
Pre-recruitment assessment is a profitable business venture if the entrepreneur has a starting capital of around Rs. 75,000. This service can be helpful in letting companies hire the best possible employees. The companies in this domain can chip in by creating the tests at different levels and then evaluating the candidates based on their performance in the same. Good marketing and sales capabilities are necessary for good performance in this domain. The minimum breakthrough period for this business is two months and it can provide gross profits of nearly 25 percent.
Business Idea for an Investment of Rs. 1,00,000
Entrepreneurs looking to offer custom-made chocolates for their customers can get started with almost Rs. 1,00,000. Making chocolates as per food quality standards is a prerequisite. It is important to love chocolates and be creative to thrive in this business. Expected gross profit in this segment can vary between 30 and 35 percent and the minimum period required to achieve parity is a week.
Business Idea for an Investment of Rs. 2,00,000
If an entrepreneur knows intercity and interstate bus routes really well and has almost Rs. 2,00,000 to invest straight away, then a bus service website can be regarded as a good business opportunity. The website can also provide information pertaining to the ticket rates and the channels for booking them.
However, it is essential to have good IT skills to be successful in this business. The minimum period needed to achieve break even in this business is five months and the expected gross profit is close to 10 percent.
Business Ideas for an Investment of Rs. 3,00,000
A good business idea with a start-up capital of Rs. 3,00,000 is that of custom-made festival gifts. The entrepreneurs can choose innovative gifts, wrap them in an eye-catching manner and then send them to their clients. The entrepreneurs need to be sensitive, creative and understanding and have a good knowledge of gift-makers in the town. It can take at least three months to achieve parity in this business, which can be expected to provide gross profits of almost 20 percent.
Entrepreneurs with such start-up capital can also go for the online ads service business. They can have contacts with the website owners and then get the appropriate space, which can help the clients get access to their target audience.
The owners should have good knowledge of networking and media planning in order to be successful in this business. The minimum time required to come to break-even status in this business is a year and the anticipated gross profit is 20 percent.
Starting a Small Business
Best Channel Vendors 2015
How were the Best Channel Vendors survey and special report generated? For a seventh consecutive year, we relied on the wisdom and experience of Penn State University to help ensure the survey s statistical accuracy. Back in 2009, Penn State agreed with our philosophy of conducting a Web-based survey (as opposed to a phone-solicitation survey) of our subscribers to capture significant data from our most active resellers. The technology categories were determined by the Business Solutions magazine (BSM) editorial staff.
BCV 2015 Winners