Best Business Opportunities for Beginners This 2023

April 4, 2022

Last Updated date: December 23, 2022

Business Opportunities for Beginners — Photo by Michael Burrows

Are you excited to be a business owner this year? Are you searching for a profitable investment opportunity in Canada? It is just the first quarter of the year, so it is never too late to start your own business. If you are wondering which business is good in Canada this year, read on.

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Like most developed countries, the service industry dominates the Canadian economy. It is also most notable that the Internet has provided Canadians with a large platform for starting and marketing businesses. If you are planning to start a business, this is a good place to build your plans.

Here are some of the businesses that you can consider launching this year:

Blogging/Affiliate Marketing

Affiliate Marketing — Photo by **cottonbro**

Blogging is a simple, less demanding, and risk-free business start-up that requires minimal cost. You simply need a simple WordPress site to get started. Once established, you can start monetizing the blog through affiliate marketing and other means.

There are hundreds of advertisers with some form of an affiliate program so it will not be difficult for you to find partners for your blog. The key to finding affiliates is to take time and effort in publishing new and interesting content.

Run a Class

One of the first few things that would come to mind when asking which business is good in Canada is holding classes. There are several things you can teach online – cooking, baking, exercise, music, arts, and many others. To set up an online class, you need to get a professional qualification. It also helps to expand your portfolio, offer group sessions, one-on-ones, and write a blog or guide.

IT Sourcing

If you are a self-confessed tech-savvy person, then you have great earning potential. Everyone will, at one point, look for an IT professional who can help troubleshoot their computers or systems. An estimated $350 billion industry has so much to offer everyone.

Buy an Existing Business

Starting from scratch could bring a lot of pressure. It is also time-consuming to build your reputation and get enough people interested in your business to start seeing returns on your investment. One way to circumnavigate this concern is to buy out an existing business.

Several studies show that start-ups, even with their great potential, are likely to close in less than 5 years. If you see a good business potential and want to start with an already existing customer base, buying out is the best option. Remember to practice due diligence in your search to increase your potential of seeing a return on your investment.

Start a Podcast

Start a Podcast — Photo by Christina Morillo

Similar to blogging, a podcast is a fun way to share knowledge, talk about a particular topic, or speak with like-minded people and share valuable information with others. According to Local SEO Search Inc., if you do well and attract a significant audience, you will also start gaining sponsors and advertisers.

Become a Consultant

Having the expertise and knowledge on a topic or niche can bring money into your bank. A perfect example is events coordinators. These people are most knowledgeable about how to execute plans and turn precious moments into great memories. You know which venue is best, where to get the most affordable event rentals in Toronto, which photographer captures well, and many others. This knowledge can make you a viable consultant. If you exceed your clients’ expectations, you can look forward to them bringing in more customers to your business.

Take Stockphotos

There are millions of new blog posts published online on a daily basis. The good news is, that these blog posts do not just include texts but also images. Photos speak and can add more interest to a single blog post. If you love to take photos and use your talent to earn, get your stock photos up on established websites. In addition to getting paid by third parties who use your photos, you can also submit them to sites like Pixabay and use their eCommerce functionality to earn royalties.

Digital Events

Even with COVID cases starting to decrease, many cities and provinces still encourage their citizens to stay home. You can use this opportunity to offer people entertainment straight from their own homes through digital events and conferences. The key to succeeding in this business is an experience in event organizing and management and some IT knowledge.

Image Consulting

Image consulting is about helping people groom themselves to look and feel better, so they become more confident when meeting new people. This business has been around for a long time. In addition to offering it through face-to-face interactions, you can add online classes into the mix.

Internet Marketing

Small and big businesses need to have the right people to help market their businesses. With marketing already taking a digital turn, having knowledge of Internet marketing is an edge that can help you earn money. You can either start training a team dedicated to helping a company or directly offering your services as a freelancer or consultant.

SEO Services

Every business wants to get the coveted top spot on the search engine results pages (SERPs). If you have the knowledge, techniques, and skills to help websites reach the first page of SERPs, then you can start earning now.

Conduct Consumer Research

Knowledge is power, and this is a powerful phrase that every business needs to live by. If their goal is to propel their businesses to success, they should know who they are offering their products and services. Conducting consumer research is time-consuming and costly, which is why most businesses tap on third parties to help them with their profiling. As a researcher, you will be the one to reach out to people, ask questions, and use their responses to create a detailed persona that can help businesses shift their marketing efforts.

Finding which business is good in Canada means spending time researching and evaluating your interests. There will always be business opportunities, but tapping your interest and talent is the best step to finding “the one”. With the help of your interest and the right skills, you can achieve business success.