A small business is a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue compared to a corporation or regular-sized business.

Starting a small business can be an exciting and rewarding endeavour. In this post, we’ll be sharing 23 small business ideas that you can start in 2023. Whether you’re looking to be a solo entrepreneur or build a team, there’s something here for everyone.

So, let’s dive in and discover what new opportunities are waiting for you in the year ahead!

1. Dropshipping

Dropshipping is a fulfillment method in e-commerce where a retailer sells a product, but instead of stocking it, purchases it from a third-party seller who then sends it directly to the customer.

The retailer does not have to invest in inventory or production costs, only in establishing an e-commerce store and advertising to drive traffic.

Pros & Cons:

The benefits of dropshipping include lower startup costs, no need for a physical location to store inventory, and flexibility to quickly change suppliers or product offerings.

However, dropshipping also has its challenges, such as limited control over the supply chain and product quality, difficulty in ensuring timely delivery, and the need to constantly monitor and adjust pricing to remain competitive.

How to start:

To start a dropshipping business, you need to establish an e-commerce store and find a reliable supplier, set up payment and shipping options, and begin advertising to drive traffic to your store.

It is important to thoroughly research and compare suppliers, their product offerings, and shipping times to ensure a smooth and profitable dropshipping business.

2. Print On Demand

Print on Demand (POD) is a method of printing that is characterized by short print runs with fast turnaround times and commercial-quality printing. The process of POD involves working with a third-party supplier and customizing products, such as clothing or accessories, by adding a brand’s own designs to them.

The items are sold on a per-item basis, and the design is printed on the item after the sale has been made through the brand’s website.

Pros & Cons:

The advantages of POD include the ability to print and manage digital collateral in one location, lower capital investment, and low risk since inventory only needs to be manufactured after a sale has been made.

How to start:

To start a POD business, you will need to choose a POD platform or supplier, create designs for the products you want to offer, and set up an e-commerce store to sell the items. Marketing and advertising will also be important to drive traffic to your store.

3. Translation

A translation business is a service that provides the translation of various types of text into one or more target languages, to support global business activities.

Pros and Cons:

Some of its benefits include low startup cost and flexibility as it can be run from home or remotely, as the work can be done via the internet. This makes it a great option for a home-based or remote business.

However, starting a translation business requires very high language skills, as the ability to translate means being very proficient in both the source and target language. Additionally, translation services has a competitive market, which can make it difficult for a new business to stand out.

How to start:

The process of starting a translation business involves registering the business, which is a crucial step for paying taxes, raising capital, opening a bank account, and other important steps in getting a business up and running.

In addition, businesses may consider machine translation (MT), which has advantages such as speed and volume, translating millions of words in a matter of seconds.

However, MT has its own limitations, such as lower translation quality compared to human translation, and the need for a thorough review of the output.

4. Website Flipping

Website flipping refers to buying and selling of existing websites with the aim of making a profit. It is similar to stock trading and real estate investment, as it involves buying and selling websites instead of conventional assets.

Pros and Cons:

Some of the benefits of starting a website flipping business include low investment and the convenience of stock trading with the reliability of real estate investment.

However one of the major challenges is that the business may take time to pay off, making it not suitable for those seeking a quick source of income.

How to start:

To start a website flipping business, you need a domain name, hosting plan, and a few articles, which can cost as low as $15 if you write your own content and under $50 if you don’t.

The process involves finding an existing website that is underperforming, improving it and selling it for a profit.

5. Home-based Catering

A home-based catering business involves preparing food in a home kitchen and serving it to customers at various locations.

Pros and Cons:

Benefits of a home-based catering business include reduced expenses, as there is no need to pay for office rent or utility bills. It can be run full or part-time and can earn between $30,000 and $80,000 a year.

It is important to keep in mind that starting a home-based catering business can have its own set of challenges, such as keeping up with demand and maintaining food quality during transport.

How to start:

To set up a home-based catering business, it is important to have culinary skills and determination, as well as the ability to handle stressful situations gracefully.

Hiring and training staff, as well as collecting reviews and testimonials, can also be important in establishing a successful business.

Catering services can be split into two categories: on-site, where the food is cooked and completed at the event location, and off-site, where the food is prepared in a kitchen and then transported to the event location.

6. Dog Walking

A dog walking business can be a fun and fulfilling way to turn your love of dogs into a career. Starting a dog walking business can be a great way to turn your passion for dogs into a successful career.

Pros and Cons:

Some of the benefits of starting a dog walking business include having a flexible schedule and the ability to work outdoors. Some other pros of starting a dog walking business include being your own boss and having the potential to earn a good income.

Some challenges of this job include early morning or late night timings demanded by clients along with the travel time and cost taken to reach their place.

How to start:

To start a dog walking business, you’ll need to get a business license, liability insurance, and a first-aid certification for dogs, as well as a website.

7. Virtual Assistance

A Virtual Assistant (VA) business is a type of business that provides administrative, technical, and creative support to clients. VA businesses have gained popularity due to the increasing need for support in today’s fast-paced world.

Pros and Cons:

An advantage in this job is that there will be no need for you to rent an office space or pay for utilities and maintenance cost.

There may be some challenges in terms of the need for technical and organizational skills. If you are unfamiliar with tech, you might face difficulty in the initial start-up phase.

How to start:

To start a VA business, you need to have a strong set of skills in communication, technical, and organizational skills. You also need to have a good understanding of how to use different types of software, such as email, word processors, and project management tools, as well as knowledge of social media platforms and tools for virtual communication.

Additionally, you need to have a computer, reliable internet, and a quiet workspace to set up your business. You can also choose to register your business, create a business plan, and market your services to potential clients.

8. Reselling Clothes

Reselling clothes that you no longer need can provide a decent return for high-quality brands.

Pros and Cons:

This job provides the ultimate freedom over lifestyle choices, schedule, and financial situation. However, there may be limitations on the profit margin, and a significant amount of space may be needed to store items. T

How to start:

To start a clothing reselling business, it is essential to have the skills and knowledge of buying low and selling high, which can be gained through research and practice.

Furthermore, determining where to start and researching the market, competition, and target audience is also crucial for success.

9. Car Detailing

Starting a car detailing business can be a great opportunity for those who are passionate about cars and want to use their skills to start their own business.

Pros and Cons:

If you choose the right location and marketing strategies, the business has the potential to generate substantial profits. However, it is essential to gain experience before starting a car detailing business as it is not as simple as it appears

How to start:

To get started, you’ll need to have experience in washing, drying, leather conditioning, polishing, pressure washing, and upholstery cleaning. You’ll also need to secure funding and have a business plan in place.

In terms of requirements, you’ll need to have an air compressor, professional-grade equipment, microfiber towels, detailing spray, glass cleaners, and buffer pads.

10. Writing Newsletters

A newsletter writing business involves creating structured, personalized, and engaging email content for subscribers, with elements like a click-worthy subject line, valuable featured content, and use of images, audio, or video

Pros and Cons:

The benefits of starting a newsletter writing business include the ability to write on your schedule and the ability to personalize content to each subscriber.

Some challenges of this job include the need to create valuable and engaging content consistently, and to keep up with the competition.

How to start:

To set up a newsletter writing business, it is important to understand the best practices of newsletter writing such as writing to a specific person, writing valuable featured content, and including click-worthy subject lines.

11. Greeting Cards

A greeting card business involves creating and selling personalized cards for various occasions.

Pros and Cons:

Starting a greeting card business can have advantages such as building an ecommerce website or using a digital marketplace, and having a sustainable business model through subscription-based offerings.

However, one con may be limited appeal to a specific target audience or competition in a crowded market.

How to start:

To start a greeting card business, one should consider their niche, target market, and unique skills and experiences that can set their designs apart. Additionally, a sustainable business model such as the subscription-based approach or using eco-friendly materials can be a selling point for customers.

12. Content Writing

A content writing business involves creating written material with the aim of engaging and converting a target audience.

Pros and Cons:

The advantages include being able to influence the customer journey, while disadvantages include having to stand out from established businesses and managing client relationships.

How to start:

To start a content writing business, one needs to develop a unique selling proposition and convey valuable and accurate information to the audience. A call to action, contact information and clear instructions should also be included in the written content.

13. Homemade Products

Pros and Cons:

Its benefits include the opportunity to turn a passion for crafting into a profitable venture and to set one’s own prices and work hours.

However, it also has some disadvantages like the need to handle all aspects of the business, including marketing and customer relationships.

How to start:

Starting a homemade products business involves:

1. Researching the market and competition to determine the potential for success.
2. Developing a business plan and securing any necessary licenses or permits.
3. Building a website or using an online marketplace to sell products.
4. Marketing and promoting the business to attract customers.
5. Continuously evaluating and improving the business to ensure long-term success.

14. WordPress Support

WordPress is an open-source website builder and content management system that allows users to create websites.

Pros and Cons:

WordPress is easy to use and has a variety of professional themes to choose from, making it cost-effective. It is an open-source software that is accessible to anyone and has a large user base, providing a good market for support services.

However, as WordPress is open-source, support services may not always be in high demand as many users may prefer to make changes themselves.

How to start:

To start a WordPress support business, it’s recommended to familiarize yourself with the platform and its various features, then offering your support services such as website building, theme customization, and technical support.

15. Career Coaching

A career coaching business provides guidance and support to individuals seeking to enhance their professional development.

Pros and Cons:

Pros of starting a career coaching business include the opportunity to help others achieve their goals and a potential for high revenue. Cons may include the challenge of establishing a successful coaching practice and competition in the market.

How to start:

o start a career coaching business, one must become a certified career coach, choose a business name and niche, develop a business plan, create offers and pricing, and establish a website.

Additionally, it is important to create a business plan that includes a vision, mission, business description, target market, marketing strategies, competition analysis, and financial planning.

16. Email Marketing

An email marketing business is a form of internet marketing that involves sending promotional and informative emails to customers on a mailing list.

Pros and Cons:

A benefit of starting an email marketing business is that it’s an effective way to nurture and retain existing customers, as well as generate new ones. A disadvantage could be that not all customers may be receptive to the marketing campaigns.

How to start:

To start up an email marketing business, one should first identify their ideal client and have a clear understanding of the importance of email marketing for that target audience.

17. Home Cleaning Services

A home cleaning service involves providing various cleaning services to households, such as mopping, vacuuming, dusting, polishing, and sweeping different areas of a home.

Pros and Cons:

The pros of starting a home cleaning service include having the opportunity to edge out competition and the flexibility to set your own hours and rates. The con of starting this job is finding clients who agree upon your fixed rates.

How to start:

To start a home cleaning service, consider writing a proposal that highlights what sets your company apart from others, researching the best cleaning services in the market, and making a list of services you want to offer, including basic house cleaning tasks.

18. Personal Training

A Personal Training service is a professional service that offers knowledge and coaching skills to clients to help them achieve their fitness goals.

Pros and Cons:

The pros of starting a Personal Training service include the ability to work independently and provide professional advantages in dealing with clients.

However, starting a business of your own also requires obtaining a professional certification, which can be an expensive initial cost.

How to start:

To start a Personal Training service, you’ll need to consider the legalities, choose a business entity, and build a clientele. You may also want to consider partnering with other personal trainers or creating a unique brand.

19. Graphic Design Services

Graphic designing is a form of art that involves creating visual content for advertisements, posters, and other clients using various digital tools.

Pros and Cons:

The benefits of starting a graphic design service include the freedom to choose clients and flexible working hours while a challenge of taking up this job is the competition and the cost of starting it up.

How to start:

To start a graphic design business, you need to choose a name and business entity, pick a name that represents your business. You can also seek inspiration and resources from other established graphic designers, and get tips on how to succeed in this industry.

20. Photography Services

Starting a photography business allows you to use your skills to make a good living. With a solid plan and realistic goals, you can create a brand, invest in top-of-the-line equipment, and write a business plan.

Pros and Cons:

Starting a photography business has its challenges, but with a well-thought-out plan and dedication, you can make a name for yourself in the industry, compete with others, and make profits.

How to start:

When setting up your photography service, be sure to choose a memorable and easy-to-spell brand name that will be used on all marketing materials and social media platforms.

The cost of starting a photography business includes a professional camera, camera lenses, memory cards, a computer or laptop, a business website, and a business license.

21. Tutoring Services

Tutoring services provide individualized attention and support to students, aiming to improve their academic performance. One of the main reasons to start tutoring is the flexibility to create your own schedule.

Pros and Cons:

Full-time tutoring can help you build upon relationships you already have in your community. Many private tutors are successful on a part-time basis, supplementing their regular income.

One challenge of taking up this job can be setting competitive rates that cover your costs while appealing to clients.

How to start:

Starting a tutoring business requires setting competitive rates that balance covering costs and appealing to clients.

The steps to set up a successful tutoring program include assessing the need for a tutoring program in the community, gathering information such as test scores, retention rates, and anecdotal reports from families and teachers.

22. Food Delivery Services

Food delivery services have become increasingly popular in recent years, with the global market reaching a valuation of $106.1 billion in 2021 and projected to grow to $223.7 billion by 2027.

Pros and Cons:

Incorporating a food delivery service into a restaurant business can bring several benefits, including increased sales, reach, and profitability.

However, there are also some challenges to consider, such as the need to reduce menus to improve delivery efficiency and to gather customer feedback before launching the service.

How to start:

To set up a food delivery service, it is important to follow these six steps:

1. Research the market
2. Talk to customers
3. Choose a delivery platform
4. Set up delivery infrastructure
5. Train delivery staff
6. Launch and market the service

23. Event Planning Services

The attention to detail of event planners is crucial in making sure that the event is polished and flawless, as event planners are known for their meticulous approach to event planning.

Pros and Cons:

One of the key benefits of event planning services is that they have a wealth of experience and knowledge about the event planning process and can help ensure that the event runs smoothly from start to finish.

However, event planning can be a challenging and intense process, especially for large-scale events. One common challenge faced by event planners is understaffing, which can lead to problems on the day of the event. Another challenge is staying organized and on track, as there are many details to manage in the event planning process.

How to start:

To set up an event planning service, one of the key requirements is to have extensive knowledge and experience in the event planning process. It is also important to have excellent organizational skills, attention to detail, and the ability to manage multiple tasks and deadlines.

Additionally, having a network of vendors and suppliers is important for sourcing materials and services for the event. In terms of steps, one can start by researching the event planning industry, developing a business plan, and acquiring the necessary licenses and insurance to operate.