There are many different profitable business ventures for 2019 despite the current setbacks that are being experienced in the global economy. In this article, we will have a look at some of the businesses that are making money and some suggestions on how you can succeed in business in 2019.
We are all about helping people in business and giving you advice. You can find other business ideas here on our business blog list. For now, sit back and read about how you can be a successful businessman in 2019.
Looking For Booming Economies
The world of online commerce has long been upon us. There is no doubt that those sitting in low economy countries but are dealing with companies in high economy countries are reaping the benefits of their business idea. Right now the economies that are best targeted include Australia, New Zealand, and countries in the ever-growing GDP countries of South East Asia.
If you can find a way to do business with any of these economies, then you are setting yourself up for success. Australia and New Zealand are arguably the best places to get business because prices charged in these countries are high. It means you will also be able to charge high rates, which are higher than the rates you would get from doing business with companies in your own country.
As for South East Asia, you would be looking at a long-term plan here or to sell products in bulk to certain target markets in these countries. Make sure that you avoid markets where the industry is heavily saturated. Read more about market saturation here.
Which Business Start-Up Should I Choose?
The business start-up you choose depends on whether you are looking to deal with the local marketplace or a foreign one. Offering services abroad may mean changing your target market and also understanding the culture of the country’s citizens you are trying to sell too. You obviously have an advantage if you were originally from that country.
For example, if you are Thai living in the UK, but you want to sell to Thai people, you probably already speak the language and understand the culture. Or an Englishman trying to sell in New Zealand or Australia would have a similar culture, so selling to this market should not be too difficult with only a few languages, slang, and minimal cultural adjustments to make in order to be successful.
Local businesses are very different. You need to look for something different because these days it is very hard to crack local markets due to their being several large multi-nationals that offer everyday services. For instance, Tescos, Walmart, 7-Eleven, and other supermarket chains have taken the food industry over. McDonald’s breakfasts and burgers push out high street fast food restaurants and Starbucks, as well as Costa coffee, are ruling the coffee industry.
It is always best to avoid getting into competition with any big brand names. That leaves the pickings very slim indeed. One industry that is booming is gentleman’s clubs. There does not seem to be a multinational chain of clubs like this opening. Dreamgirls in Wellington New Zealand is an example of a successful local business idea in a market where multi-nationals are not overtaking.
There are obviously a few bars and clubs that are run by well-known businesses and brands in New Zealand, but these bars and clubs do not target the same niche as Dreamgirls do when it comes to the city’s nightlife niche.
However, there are many people that do not want to go into this particular industry for their own reasons. Another industry that Is not overrun globally is print shops. In countries like the US there are few large brand name print shops, but in general, across the rest of the globe, there does not seem to be much competition in this niche.
When we say print shop, we do not mean a place for just printing and photocopying. On top of this, you can add graphic design services, billboard printing, posters, flyers, leaflets, business cards, paper supplies (both walk-in and online free delivery), and many other services. If you set up the service correctly, get a Shopify store open so you can have local businesses order online and have a decent delivery service as well as stock, then there is little reason why you won’t be successful.
In short, make sure that you look for a business idea that is not going to clash with a multi-national company that is able to undercut you and out advertise your services. If you cannot find a good enough business idea, then look for other options such as selling products or services abroad where you know the market is not saturated.
