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Here is list of new business ideas for you to start in 2021, in these tough times it is extremely important to build business with an eye on the future of world economy.
The economy world over has been severely impacted due to COVID-19 leading to business shutdowns, Job losses and an unpresented rise in unemployment. The possibilities ahead are adapting to the current situation at hand and finding newer opportunities in these times of calamity. As we look into the future the business prospects ahead are in the field of energy, tech innovations, Micro Niche segments and healthcare.
Here is list of mew business Ideas you can start in 2021, which has the potential for both profitability and scalability to turn in to a multimillion-dollar business idea.
1) Solar Energy Business idea
Clean energy is the future of the planet. As Global warming and climate change take the centre stage countries and organisations around the world are increasingly looking towards renewable and clean sources of energy. Solar Energy is a highly profitable and promising business to begin now, as governments all around the world are offering huge incentives like Subsidies, low interest loans, short term capital, tax exemption and other benefits to start Solar Energy businesses.
Depending on the business model and your investment capacity you could start following business in Solar industry.
- Manufacturing of Solar Panels (Modules) and other Solar Equipment’s.
- Retailing of Solar panels, Solar Inverters, Solar Batteries, solar wires etc.
- Solar Power Plant, convert solar energy to electricity and sell to the open market
- Solar consultant for Industrial and housing sectors.
Solar industry is still in nascent stage with few big players around. With innovation and focused approach there is huge potential for new entrants in the near future.
2) E-Commerce Niche Store business idea
Ecommerce is a highly competitive business idea with profits margins shirking ever so fast. Big daddy’s of E-commerce industry have the money to attract large scale customers base leaving small businesses high and dry. Less entry barriers and lower investments make it an attractive business for start-ups. Niche Ecommerce segment is often overlooked by big businesses because of smaller customer base.
Niche categories have distinct advantage over larger markets in terms of competitions and profitability. Less competitions, higher conversion, effective marketing and advertising, rank higher in SEO – means more traffics to site, high profit margins etc are some of the advantages that Niche market segments has to offer.
The more you narrow your Niche the greater the chances for success. An example of Niche product would be, Anti- aging product for above 60 age women, Designer Suits and gowns for plus size brides and grooms etc.
3) IoT (Internet of things) Business idea
IoT (Internet of things) is an ecosystem of smart devices, sensors, software and technologies all interconnected via networks for the purpose of connecting and exchanging data with other devices and systems over the Internet. These interconnected devices could be your household automation gadgets or Industrial equipment or hardware.
IoT is an emerging business idea and the future potential in IoT is limitless. As Artificial Intelligence, faster internet speeds and new Smart devices are all becoming increasingly popular IoT will become a necessity for the future. The opportunity in IoT will be in home automation, business automation, Data science, IoT devices, smart healthcare, building business, Data mining of IoT devices. Manufacturing of IoT devices, IoT services, consulting and IoT solutions will be all be in high demand in future.
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4) Drone Tech Business idea
Unmanned aerial vehicle (UAV) or popularly known as Drone’s are still a developing technology which as wide military and industrial applications. Commercial and retail Drones are slowly picking up with wide range of uses in Filming, Drone delivery, Photography, Mapping, Surveillance, Security, Rescue operation, Agriculture etc.
The opportunity in Drone or UAV business are in
- Manufacturing of new lines Smart Drones, Ultra-light Drones, Nano Drones etc,
- Drones with Improved designs and features,
- Drone repair and maintenance services,
- Drone Batteries and parts supplier,
- Drone technology Consultant,
- Drone software and Apps solution provider etc.,
above are some of business you can start in the field of Drones or UAV’s.
Although Drone markets are currently saturated and lagging due to regulatory issues. The future for Drones is definitely promising with improved designs and technology along with ease of regulatory restrictions.
5) Gaming business idea
The future of gaming business is bright with loads of potential to grow in all verticals of gaming like Mobile gaming, Web gaming, PC gaming, Augmented Reality gaming, Adventure gaming, Real-Time-Strategy games etc. Gaming is already a massive industry with gaming industry eyeing $257 billion business worldwide by 2025.
The future of gaming business is in product innovations, newer technologies and improved gaming experiences for end users. Integration of Artificial Intelligence and Virtual Reality in gaming will become more mainstream and thus enhancing the gaming experience. As more people of all age’s groups are becoming increasingly addictive to gaming this trend is not changing in near future.
Opportunities in gaming business is limitless. From Coding Game to retailing of gaming products there are plenty of opportunity to grow in gaming industry. Here are some opportunities in gaming industry which are likely to pick up in future are,
- Gaming platform development,
- Coding and programming languages
- Setting up of dedicated gaming zones
- Cross platforms playing gaming supports
- Creating a support ecosystem for gaming like Game support, Technical support, Customer services etc