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50 Best Small Business Ideas for 2024

Introducing 50 Best Small Business Ideas with low investment and high profit in 2024.

As you are reading this post, I assume that you are planning to start your own business and looking for business ideas. More and more people are becoming an entrepreneurs nowadays. If you are one of them who is bored with 9 to 5 job and want to take the plunge of business, you are at the right place. In this post, I will share an exclusive list of 50 Best Small Business Ideas for 2024.

The Best Small Business Ideas list given below includes everything like low-investment business, manufacturing business, part time business, home based business, online business etc. Select a business idea based on your skillset, experience and availability of capital.

best small business ideas

Also Read – 90 Business Ideas with low investment

For better understanding I have divided small business ideas in various categories –

#1 Technology Based Small Business Ideas

#2 Food Based Small Business Ideas

#3 Manufacturing Business Ideas

#4 Environment based Small Business Ideas

#5 Online Small Business Ideas

#6 Home Based Business Ideas

#7 Part-time Business Ideas

#8 Unique Business Ideas

#9 Other Small Business Ideas

50 Best Small Business Ideas for 2024

#1 Technology Based Small Business Ideas 2024

  1. Virtual Reality

The first technology based small business idea is related to virtual reality. The demand of virtual reality-based project is increasing. Virtual reality is instrumental in education, real estate, digital advertising, real estate and lot of other areas. If you have expertise in this area you can start your own business. The possible business scenarios are virtual reality device trading and developing platform & app for managing VR based products.

  1. Small Robot Toy Making Business

The next technology based small business idea is small robot toy making business. This idea demands technical knowledge and electronic background. So, if you are capable of making small robot toys you can grab the market in the year 2019

  1. Digital Consultancy

Each and every business is adopting new technology and industrial 4.0 revolution. Digital is new buzz word for everyone. It gives lot of business benefits. A digital consultant help business owner to atomize the business process with use of tools or applications. It is a very lucrative business idea.

  1. Smart Home Appliance

A smart home is made up of smart IoT enabled devices. These types of devices can be monitored or operated online. Starting from Stove, TV, refrigerator, water heater, cooking utensil everything is becoming smart. In this business you can either trade smart appliance or involve yourself in providing consultancy for configuring or converting devices into smart device.

  1. Chatbot

Almost every website is becoming smart by adopting chatbot concept. Chatbot is a computer application that simulates human conversation and respond via performing action by reverting with predefined answers. This helps to enhance customer satisfaction and services. Making chatbot is new technology business with lot of scope.

  1. IoT Business

The next in the list of new business ideas is IoT (Internet of Things). Today almost everyone uses multiple gadgets. Internet of Things or IoT is a business of connecting this device together with internet, collecting information and developing a fruitful solution. The solution could be for business or for personal usage.

  1. Mobile App Development

A usage of smartphone is skyrocketing. Every business owner and website owner demand for mobile application. If you have skillset in application development you can start this business. It is very good profitable option.

Also Read – 19 Online Business Ideas for 2019

#2 Food Based Small Business Ideas 2024

  1. Vegan Food

The first food based small business idea is vegan food. A demand of vegan food is increasing day by day. “vegan food near me” is one of the top search google query. In this business you can either prepare own vegan food and sell or trade in readymade vegan food.

  1. Food Kit Sale & Delivery

The second food based business idea is food kit sale & delivery. Everyone is living busy life and they are ready to spend money on readymade food. Thus starting a food kit sale & delivery is lucrative business option.

  1. Diet Food Making

People are becoming diet conscious. They are ready to spend money on diet food. This gives birth to new business called as diet food making. You can open store and sell diet food. You can even plan to sell diet food online.

  1. Organic Farming

Organic Farming is next in the list. A demand of the organic product is growing like anything. It gives birth to organic farming. Organic farming means growing fruit, vegetable, and crops in an organic (natural) way.  These types of food are used for making various products and food-related items. If you have an inclination towards farming you can start organic farming.

  1. Food Delivery

Food Delivery at home is next in the list of food based business. This business can be started in two ways. First is traditional food delivery and second is development of platform for food delivery.

  1. Readymade Food Shop

Readymade Food shop is one of the best food based business idea. People are fond of namkeen and readymade food. They usually prefer readymade food instead of cooking at home. This makes readymade food shop lucrative business option.

Also Read – 15 Best Startup Ideas for 2019

#3 Manufacturing Business Ideas 2024

  1. Manufacturing of Papers

A demand of paper is very high. Papers are used in school, colleges, corporate and various other places. Thus, starting a manufacturing business related to file, paper and folder is lucrative option. You can start with small paper manufacturing unit and expand at later stage.

  1. Manufacturing of Toys

Toy industry is evergreen and profitable industry. In this business, you need to manufacture toys for children. You should be creative in making toys. It will help you get success in this business.

#4 Environment based Small Business Ideas 2024

  1. Plastic Alternative

The first environment based business ideas is related to plastic alternative. A plastic bottle and plastic bags are banned at many places. This gives birth to recyclable and reusable alternatives to plastic products. In this business you need to develop and sell plastic alternative products.

  1. Landscape Services

The second business idea related to environment is landscape services. In this business, you need to offer landscaping services. This means activity related to gardening. Many business and individual avail landscape services.

  1. Pollution Mask

Increase in pollution gives birth to new business idea of pollution mask. In this business, you need to manufacture and sell pollution mask. Many individual opt for pollution makes to fight against pollution.

  1. Solar Panel

Solar Panel manufacturing is next booming business. This business requires big investment. However, return from this business is very high.

  1. E-Waste Recycling Plant

Usage of the electronic component is skyrocketing nowadays. Once these electronic components complete the useful life it becomes e-waste. The e-waste contains a lot of components including gold and silver. If you have expertise in processing electronic waste, you can start your own e-waste recycling plant.

#5 Online Small Business Ideas 2024

  1. Online Coaching & Consultancy

The first online business idea is online coaching and consultancy. You can do this business in two ways. First is via starting your Youtube Channel and second via starting your own website.

  1. Blogging

Blogging is one of the best online business idea. In this business you need to start blogging by writing content as per your area of interest. Once your blog gets popularity you can start paid content or earn from advertising.

  1. YouTube Channel

YouTube Channel is one of the best online business idea. In this business, you need to create unique videos on various topics. You can shoot videos via camcorder or you may use software to make videos. You need to post videos on your channel. Once your channel gains popularity you can make money via advertisement or paid membership.

  1. Online Store

Online store is next in the list of online business idea. It is one of the high investment business idea. To start this business, you can use existing business platform or design your own store.

  1. Affiliate Marketing

Affiliate marketing means promoting others product on your website and help them to increase the sale. On every product sell, you will get a commission. There are multiple websites that provide affiliate marketing program. The success of this business is based on your skill and area of interest.

#6 Home Based Business Ideas 2024

  1. Insurance Agency

A first home based business is insurance agency.  In this business you need to sell insurance policies. You will earn commission on every policy. You should have good communication skill and convincing power to become successful in this business.

  1. Networking Marketing

Network marketing is one of the best home based business. In this business you need to sell product and services of associated company. Your income includes income from your own sales and percentage income from the sales group which is recruited by you. This business demands time and dedication.

  1. Tiffin Services

If you are good at cooking or develop good recipe you can start tiffin services. You need to do proper market research before starting this business. Investment required for this business is very low. Tasty food and timely delivery is formula of getting success in this business.

  1. Hand Made Gift

Handmade gift is one of the best creative business idea. In this business, you need to serve customer by offering handmade gifts. You can open online or offline store. A success rate of this business is high.

  1. Seasonal Decoration

Next business is seasonal decoration. Occasion such as Diwali, Birthday, Christmas, marriage demand different types of decoration material. If you are creative you can start business of decorative material form home.

  1. Appliance Repair

Any home appliance require repair and maintenance. If you have expertise you can start appliance repair business at home. A success rate of this business is moderate.

  1. Spoken English Coaching Class

Starting spoken English coaching class is next in the list. To start this business, you need to be expert in English language especially spoken English. Many student and professional opt for spoken English course. This makes spoken English coaching lucrative business option.

#7 Part-time Business Ideas for 2024

  1. Language Classes

Learning a foreign language is a trend today. Students and working professional both opt for learning a foreign language. French and Spanish are popular foreign language. If you expert in any of these languages you can start foreign language class.

  1. Tuition Class

Starting at Tuition Class is one of the best part time business idea. If you have good teaching skill and knowledge you can start this business. You just need few wooden benches and blackboard for starting this business. At an initial stage this business demands mouth publicity or advertisement.

  1. Real Estate Agent

One of the highly profitable business ideas is opening real estate agency. In this business, you need to help people in finding the right property for rent or sell. You can earn hefty commission from every transaction.

  1. Stock Market Trading

One of the most profitable business is stock market trading. You can start this business from the moderate capital. However, this business demands a lot of knowledge and expertise. You have to be extremely good in trading to make a profit.

#8 Unique Business Ideas for 2024

  1. Children Play Area

Children Play Area is becoming popular business option. Children love spending time at creative play area or at place where they can feel adventure. You can start your own business by establishing such a place. Investment required for this business is moderate.

  1. Antique Business

Antique product business is very good business idea. In this business you will be dealing with antique items and furniture. You can start this business by arranging auction or by opening a small shop. This business requires high investment.

  1. Funeral Services

Funeral Services is growing concept. These type of organization help families and relative to take a decision and give them advice about a ritual of the funeral. Not only that they will arrange for all material required during the funeral ritual.

  1. Doula Services

Doula service is a new concept in India. Doula services mean providing emotional, physical and assistance to pregnant women in getting the information she needs to make empowered decisions throughout her pregnancy, birth.

#9 Other Small Business Ideas 2024

  1. Market on Wheel

Market on Wheel is upcoming concept. In this concept, you need to make vehicle which will look like shop. You need to sell household items on the move. It is low investment and profitable business idea.

  1. Remote Employee Monitoring

The next idea is remote employee monitoring. It is a tool to monitor and record the amount of time employee spend on actual work. This is to minimize waste of time and increase productivity. There are many readymade tool available online. Your task is to identify and associate with selling of such tools.

  1. Corporate Wellness

Corporate Wellness is the program that is designed to support employee wellbeing. Every organization opts for the corporate wellness program. If you are an expert in designing corporate wellness program you can start your own business related to corporate wellness. It is one of the best evergreen business idea.

  1. E-bike Sell and Repair

Selling electronic bike or starting electronic bike repair service is the next new business idea. The demand for electronic bike is growing and in the future, we may see a huge rise in the usage of the e-bike. Thus starting E-bike sell and repair is one of the very good lucrative business options.

  1. Dating Consultant

Dating consultancy is new concept. If you are creative and good at communication you can become online dating consultant. It is a new concept. In this business, you need to advise people on dating and love life. It is a larger responsibility as you are dealing with someone’s love life. You need to act as an account manager for dating sites.

  1. Video Making/Editing

If you know video making or editing you can earn a lot of money. There are many people who are looking for professional video maker or editor. Alternatively, you can establish your own business of providing professional video making and editing. It is a futuristic business with a lot of potential.

  1. Tea Coffee Shop

Starting a tea or coffee shop is next in the list of low cost business ideas. In this business, you need to rent small place or stall for opening tea stall. You will also need raw material for making tea and coffee. It is advisable to start this business near school or colleges.

  1. Travel Agency

Travel agency is one of the best business ideas with low investment. The travel industry is an evergreen industry. People across world travel a lot for various purposes. In order to help them with lodging boarding and travel you can opt to start own travel agency. It is low investment business.

  1. Mobile Repair

Mobile repair and recharging business is next in the list of low cost business ideas. Before starting this business, first you need to learn mobile repairing. It is recommended to do course on mobile repairing. The investment required for this business is very low.

  1. Mobile Auto Garage

Mobile Auto Garage is latest business that can be started with low investment. You need to keep mobile manpower/repairers for this business. It is a good business idea because car breakdown takes place in the area where garage service is not available.

Shitanshu Kapadia
Shitanshu Kapadia
Hi, I am Shitanshu founder of moneyexcel.com. I am engaged in blogging & Digital Marketing for 10 years. The purpose of this blog is to share my experience, knowledge and help people in managing money. Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment , tax, financial advice or legal opinion. Please consult a qualified financial planner and do your own due diligence before making any investment decision.