Congratulations, 2018 could be your year of the entrepreneur. Here are highlights from my full list of the best businesses to start in 2018.
Here’s a list of the very best small business ideas for 2018 selected from a variety of industries, including the fastest growing industries as reported by business experts at Inc. magazine.
This list contains ideas that are profitable in 2018 and will continue to be money-makers in subsequent years.
They are proven to weather turbulent economic times and do not require advanced degrees or lots of prior experience. Most do not require substantial amounts of startup cash but all of them do require your dedication, perseverance, and hard work to succeed.
If your life goals include becoming rich becoming a small business owner may or may not achieve your goal. However, most small businesses, based on SBA business failure statistics for 2017, grow to healthy income levels and offer fulfillment because the owners make all the decisions. Additionally, small business ownership offers more flexible lifestyles and more stimulating workdays.
Trade skills in demand
It is no accident that trade skills are at the top of this list because there is a growing demand for tradespeople due to a combination of 40% of current trade men retiring in the next 10 years plus a reduction of young people studying trades as a career path.
These are the most in-demand trades in 2018:
- Plumbing and pipefitting
- Electrical and electronics systems
- Welding services
- Carpentry and instruction
- Heating and air conditioning
- Metalworkers and machinists
- Masonry
Many of these trades are well suited as home-based businesses for self-employment. As compared to other commercial enterprises startup costs are lower for these trade business opportunities. Also, all of these trades are easily relocatable to different geographic regions.
Children’s services
There are a variety of great opportunities for business in the child’s market
- Top quality education for preschool with focuses on environmentally friendly and outdoor school
- Creative art events and courses
- Tutors for core skills such as English, reading, and math
- Fitness groups and lessons for swimming, soccer, tennis, and even golf.
Bicycle services
Bicycling has become America’s second most popular outdoor activity when measured as frequency of participation. Recent studies report that bike commuting has grown by 47% in 2018.
Most US cities are implementing or have already implemented programs to increase bike commuting to reduce traffic and vehicle congestion and pollution.
$81 billion is spent in America annually on biking which generates almost 800,000 jobs
If you enjoy biking this is a great opportunity to become a bike entrepreneur. New trends include pedal only bikes, E-bikes electric power is expected to sell over 50 million units by 2018. You can offer a service to take a regular pedal bike and convert it into an e-book like that allows replacement of the wheel hub and the addition of electric motors.
Mental health services
Health industry experts forecast 41% increase by 2020 of the need for marriage and family therapist. This is an excellent opportunity for home-based private practice mental health entrepreneurs. While you will need extensive schooling and licensing the profit potential both short and long-term are excellent.
Financial advisors
By 2026 the demand for financial planners will increase by 30% according to the US Bureau of Labor Statistics. Paving the way for financially savvy business owners
Depending upon your state and country requirements you may require a college degree and specific licensing and certification. Many financial planning customers are baby boomers are heading for retirement and need help with their finances.
This is a business idea which could easily be done from home meeting with your clients in their homes or offices issuing the need to pay high rent for office space.