2010 Top 10 Small Business Ideas

2010 will be the year of challenges – global economy outlook is still pretty much bleak, despite optimism of a group of small business owners (including me.)

Some of us did see the light at the end of the tunnel, but reaching the end is still a long way to go. With US Dollar devaluation and lackluster economic recovery (marked by the ever-increasing number of talented but jobless people,) it’s probably safe to say that entrepreneurship is the ‘relief’ people look up to when job opportunities seem to evade them.

If you are one of those challenged enough to take the entrepreneurship road, here are the 2010 top 10 small business ideas for you to consider:

1. Online business (and make money online)
I heard and read too much real life success stories of people who have gone from zero to hero making money online. I also heard and read too much opportunities online that are still pretty much low in competition but high in demand – every entrepreneur’s dream. For those reasons, I cannot see why online business should not be the #1 business idea of all.

2. Green consultancy
As more and more businesses are going green today, starting up a business helping other businesses to go green – e.g. implementing green practices, reducing inefficiency in energy consumption, etc. – is not only a smart business move, but also a socially-responsible one.

3. Outsourcing
Nothing new here, but outsourcing is indeed increased in demand and importance. As businesses cut costs, outsourcing service providers are well-sought after. Related to #1 (online business – make money online,) doing business operations (or errands) can be astonishingly profitable. A tip: Instead of going solo, hire a team to do tasks – Your main job: Cash in the opportunity, as the opportunity is (still) wide open to explore.

4. Everything organic
Organic clothing, organic food, and others are the type of products that continually grow in demand. Offering organic version of something niche – e.g. organic chewable pet toys – can offer you a great chance of success.

5. Internet-related services
Thousands of sites are established every day on the Net – most of those site needs domain names and web hosting services – Why don’t you start one? Starting up a web hosting company won’t take more than $500 (if you are on a reseller plan of a web hosting provider) but can make you $2000 per month – Yes, Internet-related businesses are HUGE in potential. Some other ideas: starting up a web design/development business, an SEO/link building services, a social media marketing business, etc. can help site owners to do well online.

6. Green construction
Green homes and buildings are in demand and start gaining momentum in construction business trends – why? Because they use less resources, create less waste and promote healthy living for those who live inside.

7. DIY green energy
Green living dominates this list, indeed – This time, Do-it-yourself green energy, which is essentially self-made green energy generator, commonly using either solar or wind energy. Supporting those who are interested in DIY green energy by providing how-to guides, materials, and/or accessories can make a great and sustainable business idea.

8. White label fundraising
There are times when you are really want to make a difference by running your own charity, but don’t know how. There are white label fundraising companies that, in essence, partner with non-profit organisations and charities to provide a chance for someone to raise funds for his/her favourite charities or non-profits without all the hassle of resource management and reporting. Even better, he/she will receive good income to cover the fundraising activities by receiving a percentage of the raised funds. A win-win solution for all and being the one who meet the organisations with independent fundraisers makes a good business idea.

9. Freemium-based
Freemium is a business model (usually online business) that allows free but limited access to a product or service, in which a premium is charged if you want a full-featured access. Twitter will do it, Flickr has done it, and you should join the bandwagon. The premise: free is what attract people, and getting 1% of those people to pay for the premium should boom your business – think about it: you can create revenue offering something for free, with no obligation or any hidden policies.

10. Personalised products and/or services
People enjoy personalised products and/or services that are made specifically to their specifications. With growing interest in everything custom and personalised, starting a business offering design-your-own, make-your-own or choose-your-own products and/or services is a smart move. A couple of examples: Tutti Frutti fro-yo (off line) and Custom Ink custom t-shirts(online)