The global economy is changing at a rapid pace. Entrepreneurship and the freelance economy are becoming more and more important in this new world. As jobs become more scarce and the competition for jobs becomes fiercer, entrepreneurs become the new job creators. With the continuing increase in demand for goods and services, there are more opportunities than ever for those willing to take the risk and go after their entrepreneurial dreams. And, of course, there are plenty of ways to start an entrepreneurial venture aside from founding a company. The following are the five best businesses to start in 2022.
Consulting
The world of consulting is not going anywhere anytime soon. People will always need guidance on several different topics, and if you know how to provide that direction, there is a market for your services.
Three things set consulting apart from other businesses:
- Consultants are experts on their topic.
- They work one-on-one with clients.
- They can be hired for short or long-term contracts.
Because consultants are experts in their field, it is relatively easy to find success in this business model. Moreover, consultants don’t need to produce the product themselves, so customers looking for a specific item can be directed to another place where they can buy it.
Consulting offers flexibility, as well. You can decide what type of contract you want to sign and how many hours per day you want to work. Consulting also has high earning potential because people will often pay more for quality advice from an expert than a generic service or product sold at a low price.
Dropshipping
Dropshipping is a low-risk and inexpensive way to start a business. Dropshipping allows entrepreneurs to offer items without having the inventory in stock or picking, packing, and shipping the items. It’s easy to get started because you don’t need any inventory.
Dropshipping is a great way to test the waters of entrepreneurship by starting with an online store before investing heavily in inventory. Many platforms will allow you to build your store and then upload pictures of the products you want to sell and let them handle the rest–taking care of everything from collecting payment to delivering the product.
Online Sports Betting
The online sports betting industry is on track to be worth $60.7 billion in revenue by 2020, according to Statista. This is an industry with a lot of growth potential that will likely continue to grow as the number of Americans who gamble on sports continues to rise.
Many websites allow you to bet on sports online, like Pinnacle Sports, Bet365, and Bovada (though this list is not exhaustive). And the beauty of being an entrepreneur in this space is that you don’t have to start from scratch—most sites allow you to create your account and place bets as soon as you’ve passed their verification process. With just a little bit of start-up capital and some research into how the betting market works, you can start your own sports betting business online, making it possible for anyone who wants it enough to get started in this booming industry.
App Development
There are plenty of online marketplaces with a variety of apps available. This is one business that would be an easy start-up for someone looking to make some extra money on the side. You need a computer and some basic coding knowledge to get started. However, you don’t need formal training, just the desire to push through your skills and practice so you can become better at what you do and how you do it.
The app development industry is booming, and there are plenty of opportunities for those who want to pursue this type of work. But, you need to make sure that your app will have broad appeal to find success.
Cyber Security
Cyber security is one of the fastest-growing industries in the world. With hackers constantly finding new ways to steal information and attack networks, the demand for cyber security will continue to rise exponentially. Over 20 million cyber-related jobs are created globally, with an estimated increase of more than 25% by 2022. This rapid growth is fueled mainly by companies developing new ways to protect their data and digital infrastructure.
Cyber security might be a perfect business for you if you have a knack for computers and enjoy problem-solving. To start this business, you would need to know how to hack into systems and how networks operate. However, if you want to learn about cyber security or take your skillset to the next level, plenty of affordable online courses can help you do just that!