Home Business Top 6 SMB-Ideas for Entrepreneurs in Their 20s

Top 6 SMB-Ideas for Entrepreneurs in Their 20s

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Some would say one is too young to start their own business in their 20s. Youngsters usually lack experience and wisdom that older people might have. They can also be reckless and hasty. There is some truth to that, however, there are things you can use to your advantage as a young entrepreneur – ideas. The potential for entrepreneurship in young people lies in the freedom of their minds. The lack of experience also shows that your mind has not yet been put into a mold, therefore, it is free to be creative and innovative. These traits are the reason every young motivated mind should think about starting their own business. So, if you’re thinking about it, here are some ideas to get you going.

Getting started in IT

Is programming your passion? If so, this is the golden age of IT. All you need is a good idea for an app or a software and some funding and you’ll be good to go. Nowadays, there are a lot of funding options for new startups, so if you have a couple of friends that are equally as passionate as you about your new software, you should go for it. It’s quite simple in the beginning, you wouldn’t need a fancy office or many employees, just a couple of friends who share the same vision as you. Working with your best buddies on your own, developing your own ideas, it is a dream come true.

Sharing your knowledge

Do you have any skills you could teach others? It could be anything, math, languages, communication, etc. If the answer is yes and you are a good storyteller, then teaching is definitely for you. You can open your own school focusing on a certain subject. Start off by giving lessons and later, you can expand and create various courses. You could create online courses, too. This is also convenient given that the pandemic is still ongoing and many people feel safer taking online courses than live lessons. Moreover, this option is even better for a business that is just taking off since the costs are significantly lower if you opt for the online version only.

Providing care

If you are a nurse or a kindergarten teacher or you have any related skills and expertise, you can always offer to care for people. It may be elderly care that you offer or babysitting and child care. The pace of modern life is quite rapid and we all have very little free time. Sadly, due to work obligations, our loved ones are impacted most. This is why providing care can be a very lucrative business, especially if you are competent and trustworthy. Starting a childcare agency business can be very rewarding in many ways. Not only that you would have the possibility to earn, but to serve a noble cause and create loving and nurturing relationships with the children involved. It is a business where there are no managers, clients and other stressful factors, there are only kids and their parents and if you start off on the right foot, the work atmosphere will be ideal.

Petsitting

Do you love animals and taking care of them? If you are a dog person, for instance, you can think in a similar manner as people who provide childcare. Pets are important parts of our lives and we want only the best for them. However, sometimes due to work or vacation, they need to be left behind. This is where you step in with your dog entertainment agency. You can provide various services. Some of them can be taking dogs for a walk or a run. Larger and more energetic dogs need to have more physical activity on a daily basis and most owners can’t oblige to provide this for their pets. Once your business takes off, you can expand to dogsitting, bathing, grooming and entertaining. In time, you could have a full doggy care center.

Social media expert

If you are social media savvy, there are a bunch of opportunities waiting for you. There are many businesses that have amazing products and services, but no visibility whatsoever. It is just sad that they cannot be found on the map when their area of expertise is searched. Surely, you have seen it, too. We all know some examples of this and we are devastated to see these businesses go bankrupt when the only reason was poor or none social media management. This is where you come in. Start with a low price and a business that you really fancy, it will give you motivation needed to skyrocket this business to popularity in no time. Once you do this for several businesses, you will get recognized and your services sought after.

Renting property

Are you a property owner? If you inherited an old house or land in the countryside and you are not certain what to do with it, there can be a way to make money out of it and not sell. In the age of the pandemic, remote work is blossoming, and even though it has numerous perks, there are downsides, as well. Many people find it difficult to concentrate when working from home, especially if they have children or many household members in general. These people seek a quiet place where they can work and you can offer them exactly that. There are many examples of people who redecorated an old house in the country and started renting their offices. It’s important to offer people offices where they can isolate themselves and work, but also a shared space for relaxation and coffee breaks. If you add a barbecue and patio in the backyard, you can also rent the space to companies for team buildings and similar activities.

If you are looking to start your own business at a young age, it is important not to be afraid to take risks and to believe in yourself. Try to gather as much information as you can, listen to other people’s advice. However, try not to let it change you and get discouraged. If you believe in your idea, go for it. Apply for some funding and surely, someone will find it worthy. If it fails in the end, it is not the end of the world, but if it succeeds, you will have fulfilled your dream. It is true what they say, it is better to try and fail than to fail to try.

AuthorBio: Anne Harris is an HR specialist working for londongoverness.com. She recruits nannies, governesses and other childcare professionals, ensuring top-notch services for parents worldwide. In her free time she likes reading about education, and children’s welfare, as well as visiting sports events.

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