If you’re looking to set up your first business and you want to ensure that you hit the ground running, you need to start thinking about the future and what the business world is going to look like in 2021 and beyond. This will give you the best possible chance of leveraging your expertise into creating a company that will be in demand, which is the perfect position to be in as a new entrepreneur.
Okay, so which businesses are going to be popular in the coming year and beyond?
E-commerce has seen a growth of around $450 billion dollars in just the past 4 years, which is pretty staggering if you think about it. It’s also a growth that is likely to continue into 2021 and beyond as even more businesses begin to operate online – something that the COVID-19 pandemic has made necessary.
You might think this is a sure sign you too should start your own online e-commerce company to get a slice of that pie, but if you go down that route, you will be competing with millions of other companies doing the same. What might be a better idea, therefore, is to get into the e-commerce distribution industry. Create your own e-commerce platform that streamlines the distribution processes for small businesses and you could make a lot of money.
You might think that manufacturing in the West in the 21st Century is a waste of time, especially for a small business that has no chance of competing with the likes of China, but that might not be completely true, not post-coronavirus anyway. Why? Because the virus has shown us all some of the pitfalls that come with global business and manufacturing very little for ourselves. That combines with innovations in automation, such as the linear actuator that makes mass production simpler and more affordable than ever, means there could well be a resurgence in homemade goods.
Another thing the pandemic has shown us is that we can do a lot more online than we previously thought possible, and schooling has been a prime example of this. As artificial intelligence becomes more prominent and we all come to see the benefit of doing more online, there is almost certainly going to be greater demand for online education, and if you can get in at the start of the trend, you could do very well. What can you do? You could set up a company developing online learning platforms; you could set up a company that produces educational videos and courses for online use; you could set up an online tutoring agency or you could even set up your own online school the options are as endless as your imagination and your capabilities.
As drone technology improves and as an increasing need for security becomes evident, it is almost certain that more governments, corporations and even individuals are going to invest in the high level of security that drone technology offers. Invest now and business could be booming in 2021 and beyond.
Which business ideas do your think will gain traction in the coming year?