Micro, small and medium enterprises (SMEs) are the goal of the creation of any entrepreneur. In this article, we will see some profitable, creative & small business ideas, focused on micro companies (low investment) and SMEs (small to medium investment).
Around the world, micro-enterprises make up more than 80% of the total number of companies in each country. If we add the small and medium companies, we observe that up to 95% of the activity of a country is based upon it.
This indicates that the entrepreneur must develop, depending on their level of investment, creative business ideas focused on this type of company. Depending on the type & company, some creative small entrepreneurial ideas are:
Some most successful & creative small business ideas for micro & medium businesses are:
Mobile Business: An excellent way to lower costs (mainly fixed costs, which represent a large proportion of the costs of a business), is eliminating or reducing the concepts of rent, conditioning, care of facilities, etc.
A practical way of the innovative type of creative small business is through the use of vehicles that are points of sale for the company. It will depend on your degree of investment and business turnaround. For example, motorcycles adapted with inventory back for sale, food carts, vans or trucks equipped with an integral kitchen to sell food.
Self-Services: Another way to reduce fixed costs (for example, by renting smaller spaces) and increase customer traffic is through self-service. This is a way to double the movement of customers to your business, being that those who do not want to enter or do not have time (in a hurry), want the service in their car quickly and efficiently.
This service is famous in businesses like McDonald’s, however, it can be applicable to any business, where the customer is in a hurry or wanted to buy fast. For example, a new business is a sale of what is necessary for a party (fries & soft drinks, etc.).
Intermediary for Import: Many people are interested in importing products. However, there is little knowledge of how to do it, how much to pay, with which provider to go, what are the steps, etc.
A business idea for foreign trade specialist is to provide training, advice or intermediation service for small importers. This is a profitable business because it is a business without variable costs and high-profit margins.
Mobile Apps Development: A business in high growth is the development of applications for mobile phones, smartphones, in systems such as Android and Apple iPod and iPhone. The business opportunity is given, due to the high demand, and low offer of applications.
This business offers a high margin of profit because an infinite number of apps can be sold, without there being a cost to produce it.
Serve The Senior Citizens: A segment of the market in high growth around the world, are the senior citizens. This offers new business opportunities, in relation to a new perspective of current business. For example, offering entertainment for the elderly, such as old-age movies, music & get-together clubs.
In the case of micro businesses, it is a matter of finding a way to focus your business to solve the need of this niche. Following the previous example, some ways to increase your sales would be earlier times for events, special seats, discounts, etc.
Mobile Advertising: We know the traditional advertising, by means of spectacular, billboards, posts, etc. A new trend is mobile advertising, that is, a product is promoted in a vehicle that circulates in an area of the city.
It requires high investment and request for special permits, however, it offers to be a pioneer in your city, and therefore create a mini-monopoly of a specific service.
Eco-Tourism: Due to the hustle and bustle that exists in metropolitan cities, there is an increase in the demand for more relaxing holidays, such as those offered by Ecotourism.
There is a wide margin of gain in tourism, however, we must consider that it is a seasonal business, and therefore, there will be months of low sales, and months of high sales.
Micro-Financing: Another business in great demand worldwide is the request for microloans or small-scale business financing, which offer an amount for a material good such as jewelry, watches, technological equipment, etc.
Profit margins are very attractive, but it requires covering two fundamental aspects to start the business: having sufficient capital to offer loans, and requesting adequate permits, due to being a financing service similar to banking.
Finley Gilbert is a social entrepreneur and writer by profession. He covers entrepreneur, business and startup stories for EntrepreneurMindz.com