7 Types of Companies to Start in 2021: A Guide for Entrepreneurs
Are you looking for a profitable and rewarding business idea? Do you want to start a company that can make a positive impact on the world? If so, you might be interested in learning about the different types of companies to start in 2021.
In this article, we will explore seven types of companies that are in high demand, have low barriers to entry, and offer great potential for growth. We will also provide some tips and resources on how to start and run these businesses successfully.Here are the seven types of companies to start in 2021.
1. E-commerce company
E-commerce is the process of buying and selling goods or services online. It is one of the fastest-growing and most popular types of businesses in the world. According to Statista, global e-commerce sales are expected to reach $6.5 trillion by 2023, up from $3.5 trillion in 2019. E-commerce offers many advantages, such as low overhead costs, wide market reach, and flexibility. You can sell almost anything online, from physical products to digital products to services. To start an e-commerce company, you will need a website, a domain name, a hosting service, an e-commerce platform, a payment gateway, and a marketing strategy. Some of the most popular e-commerce platforms are Shopify, WooCommerce, Magento, and BigCommerce.
2. Software as a service (SaaS) company
SaaS is a type of software delivery model where users access software applications over the internet, rather than installing them on their own devices. SaaS companies provide software solutions for various industries and functions, such as accounting, marketing, education, health care, and more. SaaS is a lucrative and scalable type of business, as it generates recurring revenue from subscriptions or fees, has low marginal costs, and can serve customers globally. To start a SaaS company, you will need a software product, a cloud service provider, a pricing model, and a customer acquisition strategy. Some of the most successful SaaS companies are Salesforce, Zoom, Slack, and Netflix.
3. Online education company
Online education is the process of delivering educational content or courses through digital platforms, such as websites, apps, or videos. Online education is a booming and diverse type of business, as it caters to various audiences, such as students, professionals, hobbyists, and more. Online education offers many benefits, such as convenience, affordability, accessibility, and personalization. You can create online courses on any topic or skill that you are knowledgeable or passionate about, such as languages, photography, coding, or yoga. To start an online education company, you will need an online course platform, a course creation tool, a content delivery method, and a marketing plan. Some of the most popular online course platforms are Udemy, Coursera, Skillshare, and Teachable.
4. Social media marketing company
Social media marketing is the process of using social media platforms to promote a brand, product,
service or cause. Social media marketing is an essential and effective type of business in the digital age,
as it helps to increase brand awareness,
engage customers,
generate leads,
and drive sales.
Social media marketing involves creating
and sharing
content,
such as posts,
stories,
videos,
or ads,
on platforms such as Facebook,
Instagram,
Twitter,
or TikTok.
To start a social media marketing company,
you will need
a niche,
a target audience,
a social media management tool,
and a content strategy.
Some of the most popular social media management tools are
Hootsuite,
Buffer,
Sprout Social,
and Later.
5. Podcasting company.
Podcasting is the process of creating
and distributing
audio content
on the internet.
Podcasting is a growing
and creative
type of business,
as it allows you to share your voice,
opinions,
stories,
or expertise
with millions of listeners worldwide.
Podcasting also offers many monetization opportunities,
such as sponsorships,
advertising,
subscriptions,
or merchandise.
You can create podcasts on any topic or genre that you are interested or skilled in,
such as comedy,
news,
sports,
or music.
To start a podcasting company,
you will need
a podcast name,
a podcast host,
a microphone,
a recording software,
and a distribution platform.
Some of the most popular podcast hosts are
Anchor,
Buzzsprout,
Podbean,
and Transistor.
6. Consulting company.
Consulting is the process of providing professional advice
or guidance
to individuals or organizations
in a specific field or industry.
Consulting is a valuable
and rewarding
type of business,
as it helps to solve problems,
improve performance,
or achieve goals
for your clients.
Consulting also allows you to leverage your existing skills,
knowledge,
or experience
in your area of expertise.
You can offer consulting services on any topic or domain that you are proficient or qualified in,
such as finance,
marketing,
management,
or health.
To start a consulting company,
you will need
a niche,
a target market,
a value proposition,
and a pricing model.
7. Content creation company.
Content creation is the process of producing
and publishing
original or curated content
for a specific audience or purpose.
Content creation is a versatile
and fun
type of business,
as it allows you to express your creativity,
personality,
or passion
through various mediums and formats.
Content creation also helps to build your brand,
attract your audience,
and generate income
from various sources,
such as advertising,
sponsorships,
affiliates,
or donations.
You can create content on any topic or theme that you are interested or talented in,
such as travel,
fashion,
gaming,
or cooking.
To start a content creation company,
you will need
a niche,
a platform,
a content creation tool,
and a content strategy.
Some of the most popular platforms for content creation are
YouTube,
Instagram,
Twitch,
or Medium.
These are the seven types of companies to start in 2021 that we recommend for aspiring entrepreneurs. We hope this article has given you some inspiration and guidance on how to start and run these businesses successfully.
Types of Companies to Start in 2023
According to some experts, 2023 is a great year to start a business. There are many opportunities and challenges in the post-pandemic world, and entrepreneurs can take advantage of them with innovative ideas and solutions. But what are some of the best types of companies to start in 2023? Here are two examples based on the latest trends and data.
E-commerce Businesses
E-commerce is one of the fastest-growing and most profitable industries in the world. According to Statista, global e-commerce sales are expected to reach $6.5 trillion by 2023, up from $4.2 trillion in 2020. E-commerce businesses sell products or services online, either through their own websites or platforms like Amazon, Shopify, or Etsy. They can offer a variety of products, such as clothing, electronics, books, crafts, or digital goods. They can also target different niches, such as eco-friendly products, personalized gifts, or subscription boxes.
Some of the benefits of starting an e-commerce business are:
– Low startup costs: You don’t need a physical store, inventory, or staff to start an e-commerce business. You can use dropshipping, print-on-demand, or digital products to avoid upfront expenses and reduce risks.
– High scalability: You can reach a global market and grow your customer base with online marketing and SEO strategies. You can also leverage automation tools and outsourcing services to streamline your operations and increase efficiency.
– High flexibility: You can run your e-commerce business from anywhere with an internet connection and a laptop. You can also choose your own hours, prices, and policies.
Some of the challenges of starting an e-commerce business are:
– High competition: You will face many competitors in the online space, both from established brands and new entrants. You will need to differentiate yourself with a unique value proposition, a strong brand identity, and a loyal customer base.
– Technical issues: You will need to set up and maintain a reliable website or platform that can handle traffic, transactions, and security. You will also need to deal with shipping, taxes, regulations, and customer service issues.
– Marketing costs: You will need to invest in online marketing channels, such as social media, email marketing, content marketing, or paid ads. You will also need to optimize your website or platform for SEO and conversions.
Renewable Energy Businesses
Renewable energy is another booming industry that offers many opportunities for entrepreneurs. According to the International Energy Agency (IEA), renewable energy sources accounted for almost 30% of global electricity generation in 2020, and this share is expected to increase to 43% by 2030. Renewable energy businesses provide clean and sustainable energy solutions, such as solar panels, wind turbines, hydroelectric dams, or biofuels. They can serve different markets, such as residential, commercial, industrial, or public.
Some of the benefits of starting a renewable energy business are:
– High demand: There is a growing demand for renewable energy sources from consumers, businesses, and governments who want to reduce their environmental impact and save money on energy bills. Renewable energy is also becoming more affordable and accessible thanks to technological innovations and policy support.
– High profitability: Renewable energy businesses can generate high returns on investment by selling energy or equipment to customers or by receiving subsidies or incentives from governments or organizations. Renewable energy businesses can also benefit from tax deductions or credits for their expenses or income.
– High social impact: Renewable energy businesses can make a positive difference in the world by contributing to environmental protection, climate change mitigation, and social justice. Renewable energy businesses can also create jobs and stimulate economic growth in their communities.
Some of the challenges of starting a renewable energy business are:
– High startup costs: You will need to invest in expensive equipment, materials, and infrastructure to start a renewable energy business. You will also need to obtain permits, licenses, and certifications from various authorities and comply with safety and quality standards.
– High risk: You will face many uncertainties and risks in the renewable energy industry, such as weather conditions, market fluctuations, technological changes, or regulatory changes. You will also need to protect your business from potential lawsuits or damages caused by your products or services.
– High complexity: You will need to have a solid knowledge and expertise in the renewable energy field, as well as in business management, finance, and marketing. You will also need to collaborate with various stakeholders, such as customers, suppliers, partners, or competitors.
References:
https://web.stanford.edu/~rkatila/new/pdf/KatilaSEJ12.pdf
https://web.archive.org/web/20230319191534/https://web.stanford.edu/~rkatila/new/pdf/KatilaSEJ12.pdf
Robehmed, Natalie (16 December 2013). “What Is A Startup?”. Forbes. Archived from the original on 3 January 2020. Retrieved 30 April 2016.
[How to Start a Renewable Energy Business – Energy Central](https://energycentral.com/c/cp/how-start-renewable-energy-business) [10 of the Most Profitable Small Businesses To Start in 2023 – Handshake](https://blog.handshake.com/most-profitable-small-businesses/#utilities-renewable-energy)
[Renewable Energy Entrepreneurship – Coursera](https://www.coursera.org/learn/renewable-energy-entrepreneurship)How to Start an E-commerce Business in 2021: The Ultimate Guide (Shopify)
How to Start a SaaS Business in 2021: A Step-by-Step Guide (Foundr)
How to Create and Sell Online Courses in 2021: The Complete Guide (Thinkific)
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