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The 10 Best Small Business Ideas for 2023

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The GoCardless content team comprises a group of subject-matter experts in multiple fields from across GoCardless. The authors and reviewers work in the sales, marketing, legal, and finance departments. All have in-depth knowledge and experience in various aspects of payment scheme technology and the operating rules applicable to each. The team holds expertise in the well-established payment schemes such as UK Direct Debit, the European SEPA scheme, and the US ACH scheme, as well as in schemes operating in Scandinavia, Australia, and New Zealand. See full bio

Last editedApr 20233 min read

With the pandemic now firmly in the rear-view mirror, 2023 could be the ideal time to cast off the shackles of the 9-5, be your own boss and start your own small business. People are looking for new and innovative products, services, and ideas right now and starting a small business offers flexible working hours and the chance to become truly independent.

Not only that, but the cost of starting a small business has reduced significantly over the years thanks to technology and the rise of online platforms. This means that entrepreneurs can start a business with minimal investment. There are also more funding options available for small businesses than ever before, such as crowdfunding, angel investors and microloans.

Of course, starting a small business is an exciting venture that requires passion, dedication, and hard work. But with the right idea and execution, small businesses ideas can eventually grow into successful enterprises. You need to ensure, however, that it’s an idea that not only makes sense in this current climate but is something you can be truly passionate about.

To help get you started, we’ve put together 10 of the best small business ideas for 2023 based on current market trends.

1. Personalised nutrition coaching

People are so much more invested in their health in 2023 than they were in the days before the pandemic. With the growing interest in health and wellness, personalised nutrition coaching is a potentially promising business idea. By offering customised nutrition plans and coaching sessions, you can help individuals achieve their health goals. Best of all, this is a business that requires minimal capital investment.

2. Online tutoring

With remote learning becoming more common in our hybrid working world, online tutoring is in very high demand. Starting an online tutoring business can be profitable and rewarding, especially if you have expertise in a particular subject. You will, however, need to ensure you have a decent digital infrastructure in place, including a secure content management system.

3. Mobile app development

Mobile apps are now an undeniably integral part of our daily lives. If you have programming skills picked up from college or university, then now is the time to use them. Starting a mobile app development business can be a lucrative opportunity and there are so many great ideas yet to be fully realised.

Social media is essential for businesses looking to grow their online presence, now more than ever. As a social media manager, you can help businesses create and execute social media strategies to reach their target audience. Again, this is a business that requires minimal setup fees, relying just on skills and groundwork.

5. E-commerce store

With the rise of online shopping in the wake of the pandemic, starting an e-commerce store can be a profitable business idea. It is, after all, much cheaper to set up a website than to set up a brick-and-mortar establishment. By selling products online, you can reach a larger audience and offer convenience to customers while also giving yourself the option to expand into physical retail in the future.

6. Home cleaning services

Busy lifestyles and a move to spending more time at home have made home cleaning services a necessity for many busy people. Starting a home cleaning service can be a profitable business idea, especially if you can offer high-quality service and build a loyal local customer base through word-of-mouth and social media.

7. Digital marketing

Businesses are constantly looking for ways to improve their online presence and reach more customers. As a digital marketing agency, you can offer services such as search engine optimization, social media marketing and email marketing to help businesses grow and manage their marketing expenses.

8. Pet care services

The pandemic saw thousands of us look towards our furry friends for comfort and with more people owning animals, pet care services are in high demand. Starting a pet care business can involve everything from grooming, walking and sitting services to overnight services and kennels. You must have a genuine love for animals though, otherwise it’s never going to work.

9. Food truck

Food trucks are a popular choice for entrepreneurs looking to start a small business as they are a nomadic and flexible business by design. With a food truck, you can offer a unique food experience to customers at various locations and events and not limit yourself to one market. It’s a great way to begin a brand and dip your toes into the water of owning a hospitality business.

10. Online coaching and consulting

With the rise of countless online platforms, offering coaching and consulting services online has become more practical for those with knowledge and expertise to share. If you have experience in a particular field that you feel could be monetised, you can offer online coaching and consulting services to help individuals and businesses to get started or get back on their feet.

We can help

Of course, one of the most important aspects of setting up and growing your small business is ensuring your digital payments solution is fit for purpose. GoCardless is a global payments processing solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with.