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Business ideas for entrepreneurs to try in 2020

by Staff Writer
18 Jun 2019 at 15:01hrs | Views
Every year 8 from 10 businesses get shut down. There are many reasons why they lack success, but one of the main factors is that the entrepreneurs don't consider the trends and needs of the market when they start their companies. It may sound difficult to find that one single successful idea, but if you check the present and future trends of the market you will start a profitable and sustainable business. You will have to identify the problems of the clients, both the ones they are experiencing nowadays, and the ones they will have in the future. Then you will have to find a solution to these problems and to transform it into a business.

Here are some business ideas that will prove successful in 2020.

Renewable energy supplies
Energy supplies are vital for both the planet and humans. Many countries, especially Asian ones highly rely on non-renewable energy supplies. Considering the speed at which people consume resources in a couple of years there will be no supplies we can use to power our world. In order to find a solution to this problem, you can start a business that offers people access to renewable energy sources. Solar panels will definitely prove profitable in 2020 and in the following years.

You should explore the list of green business ideas, select the one that requires an investment suitable to your budget, and start it as soon as possible.

3D printing
More and more people are looking for 3D products, and this business idea will soon meet its booming point. It's a costly start-up, but it will pay for itself in around a year. You will only have to find a niche, and there are plenty, from constructing human organs, to creating toys, 3D printing offers access to a new unexplored market.

It will definitely be a successful idea in 2020 because it will revolutionise the manufacturing industry. 3D printers no longer cost as much as they used to, but they are still pricey and you will probably make a large first investment. You will also have to invest in advertising because few people are aware of the potential 3D printing has, and the things it can create. With some skills, imagination and good marketing you will be on the right track.

VR and Gaming arcade
You have probably heard of VR it offers the possibility to have a very realistic sensory experience. Why it would prove a smart financial idea in 2020? Well, it's expected the worldwide size of the market to reach $40 billion the next year.

Gaming arcade has no longer the success it once had, but with the introducing of VR, it will come back to life. And if arcade game is not your thing then VR has many other applications that can prove successful business ideas.

VR can prove a helpful aid to the real estate industry because it can be used to create virtual house tours. It can also be used to facilitate people interactions in a virtual online space or to create realistic environments for escape rooms and gaming activities.

Software development and engineering
If you have the right skills and knowledge, you can create, test or maintain software to make a living. It's expected the demand for software engineers to increase with 17% by 2023, and where do you count the salary IT professionals get.

If you don't have the needed money to start your own software development business, you can work as a software engineer for a while, save the needed money, and become an entrepreneur before you are 30 years. All big companies need experts who can create unique software, systems that work seamlessly and come with security features. The options are countless in the IT world, you can get a software developer job, you can start your own software development business or you can design systems for third parties.

Currency trader
You don't have to run a company to get great financial gains. The Forex market will definitely offer multiple profitable opportunities in 2020. You can become a successful forex trader with low capital, you can invest around $100 and get a big profit. You can start this business from your home's comfort. Who said that you have to wear a suit to run a successful business? If you work with the best Forex brokers you will find very easy to get successful in this market.

In addition, if you didn't know, you can trade on the forex market nonstop, especially if you are doing business in the cryptocurrencies world.

Security service provider
Everyone is looking for ways to keep themselves and their businesses secure, now more than ever we are exposed to numerous threats. Depending on your skills and preferences, you can start a home and personal security business or you can specialise in online security and prevent cyber threats.

If in the past only famous people, were hiring security professionals to protect their houses and family members, nowadays the average person is installing a home security system and is hiring a security company to guard their property when they are away from home.

When it comes to cyber threats, both companies and individuals can become the target of online criminals and the only way to protect sensitive data is to invest in security measures.

 As you can see, whatever option you choose, you will definitely run a successful business in 2020.

Digital marketing campaign manager
It's expected digital marketing to reach Rs 19,000 crore by 2020, so digital advertising will definitely be a successful business idea in the future. If you want to become an online marketing consultant, all you need is some experience, a computer and a fast internet connection. You can start this business as being a freelancer because companies prefer to work with independent experts rather than with top companies. They get the expertise of someone dedicated to offering their clients the best services. Later you can hire more people to help you grow complex marketing campaigns.

It's one of the businesses you can run from home with potential to grow into an enterprise.

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Source - Byo24News