Top Micro-Business Opportunities For 2010
A micro-business is loosely defined as a small enterprise (typically fewer than 5 employees, usually only one or two) which frequently has only a very limited reliance on the traditional commercial banking loans that many other businesses rely upon for their day to day activities. 2010 should be a banner year for those micro businesses – with the recent economic downturn, more people than ever are starting their own micro businesses in an effort to create their own job security in an uncertain economy.
Even better, it is easier, cheaper, and more risk free than ever to start up a business – it's usually as simple as coming up with an idea and creating a related website.
Want to take the jump into the micro-business world but don’t know where a smart place is to start? The following are the top micro-business opportunities and trends for 2010 (many of which are relatively "safe bets"), several of which hinge on key legislation expected to pass this year as well as current technology trends.
• Social Media
With each passing quarter, more emphasis is being placed on the web presence of any business. Not only should a business have its own web address, but also have a blog, a Twitter account, and be on Facebook. These are all required if a business wants to stay relevant and seem accessible to an increasingly tech centered consumer base. More businesses are even carefully finessing their YouTube presence and paying programming proficient developers to create iPhone and Blackberry apps. This is the perfect opportunity for a web and technology savvy micro-business entrepreneur, who can easily capitalize on the lack of technical prowess of other business owners.
• Clean Energy and Energy Efficiency
Expect climate change legislation to make its way through the Senate and create a plethora of business opportunities for micro businesses involved in the clean energy, efficiency, and conservation sectors.
• Health Care
Health care reform is expected to create a whole new market frontier for savvy micro-business leaders – the trick is to keep a keen eye on the actual contents of the final bill, which has been in a constant state of flux.
• Services for New Businesses
With the rapid increase in the number of small businesses showing no signs of slowing, supporting micro businesses for these businesses will become necessary for the firms that can afford them.
• E-commerce
Increasingly, consumers are taking their dollars directly to the internet. This is great news for micro-business operators with online stores or an otherwise strong web presence. The World Wide Web is a much easier place to compete with industry giants and it offers a much wider base of potential customers from all over the world. The social media sites have made connecting with these customers easy and often completely free.
• Federal Contracting
The American Recovery and Reinvestment Act (or ARRA) has made available a good deal of funds for appropriate projects – micro-business owners in the construction industry can still find plenty of work this year through contracting or subcontracting opportunities.
