What Business To Start

So you want to start a business? But what business to start?

Start by Choosing a Business Industry

It can be very exciting when you’re in the initial start up phases of your business. You have the buzz and the entrepreneurial seizure to create a business of your very own. At the same time, however, it can be very overwhelming and confusing, especially if it’s your first business.

There are literally thousands of business opportunities to choose. Each of them uses its own unique business model, branding and provides its own set of goods and services that are particular to that business. With so many choices, which business to start may be a serious hurdle that you have to overcome.

List of Biz Categories with Example Businesses

To help you decide which business to pursue, it’s useful to consider the various business categories that group all businesses according to their business industry and other similarities. The list of business categories below is not an exhaustive list, as there may be many other categories and sub-categories, but it’s a good start.

1. Agriculture & Mining Business

These are businesses that involve the production and extraction of raw materials such as plants (agriculture) and minerals (mining).

Examples of What Business to Start:
  • Ethanol production and extraction, or
  • Production or extraction of other alternative and renewable fuels

2. Financial Business

Financial businesses are those that generate profit via the investment and management of capital, such as banks.

Examples of What Business to Start:
  • Microfinance institution
  • Online crowdfunding platform
  • Socially responsible investment fund

3. Information Business

Info businesses create and/or resell intellectual property, such as movies, books, magazines and software, in order to make a profit.

Examples of What Business to Start:
  • Online informational websites
  • Selling books
  • Creating and selling educational videos

4. Manufacturing Business

Theses are businesses that make products, typically physical goods, from raw materials or various parts, which are then sold for a profit.

Examples of What Business to Start:
  • Manufacture of products made from recycled materials
  • Manufacturing products using fair trade materials and processes

5. Real Estate Business

Real estate businesses involve the sale, rent and development of properties such as land, residential properties, commercial properties and other types of buildings.

Examples of What Business to Start:
  • Renovating homes so they are more eco-friendly, and selling them for a profit
  • Developing and renting out residential properties

6. Retail & Distribution Business

Retailers and distributors act as the intermediaries between manufacturers and the end consumers. They receive the goods made by manufacturers and then make a profit by generating sales and providing distribution services.

Examples of What Business to Start:
  • Online retail store for eco fashion
  • Brick and mortar retail store for chemical free cleaning products

7. Service Business

These businesses offer services and ingangible goods (as opposed to physical goods). Profit is generated from the labor that is provided to consumers, other businesses or to government.

Examples of What Business to Start:
  • Restaurant business serving healthy, organic foods
  • Consulting firm to support local businesses
  • Solar panel installation company

8. Utilities Business

Utilities businesses provide public services such as sewage treatment, waste management, and electricity. These businesses are usually licensed or regulated by government.

Examples of What Business to Start:
  • Waste management recycling company
  • Alternative energy farming and generation, such as wind power and solar power services

Create a Business Model in that Industry

Once you have selected your business category and industry, what business to start will depend on you as you examine various business models and market demand within that area. Be sure to do adequate research and adequate testing of your business ideas before scaling it and devoting more of your time, energy and capital into the business.