Are you thinking of starting a new business and need business ideas? Technological innovations of the past two decades have drastically transformed the economy. If you are looking for a new business idea, according to TRUiC, a specialist guide on LLC formations and startups, there are many great options. Here are 5 technology businesses that you can start in 2020:
1. Web design
If you know how to develop websites, either from templates as in WordPress, or hand-coded from scratch, you can start your own web design business. Every business that starts these days, whether for profit or non-profit, requires a website, so there is no shortage of customers.
A web design business requires a lot of creativity because you have to make the websites beautiful and attractive to visitors.
Marketing is easy these days, as most of it takes place online. It may not even be necessary if you become a freelancer on platforms like fiverr.com. Once you establish yourself as a great designer, the work just flows in. However, you may need to have a core team of designers and other designers who work with you on a project by project basis.
You may want to register an LLC for the business to protect your personal assets in case any legal issues arise with the business in the future. The details are available here.
2. Tech support
If you have training and experience in information technology, you can support small and large businesses and people who use computers at home for business, school or pleasure. Almost everyone uses computers these days, but most of the users don’t know how to solve computer problems or even to set up the computer and its software. Therefore, they need technical experts to help them with software installation and customization, system networking, troubleshooting and repair and other computer problems.
Some of the problems can be solved remotely while others require physical visits. Therefore, your business has to be set up with those requirements in mind to make sure that you are mobile, and you have enough capital for insurance and other overheads. Details on how to start a tech support business are available here.
3. Software development business
If you are a software engineer or if you know how to code, you can start a software development business. Computers need software in order to perform the specific work for which they were acquired. Software is needed for everything, whether it is a game or a business operation or education. Some businesses can rely on generic software while others require specific custom software and all that software has to be developed.
The demand for software is huge. According to IBISworld, the software publishing industry has an annual revenue of around $238 billion and is growing annually. Therefore, there is room for you in the industry if you know how to market yourself and how to work with a team. But first you have to set up the business. Here is how you go about setting up your software development business.
4. Robotics business
If you are into robotics, this is the best time to start your own robotics business. Robots have become more humanlike with the evolution of artificial intelligence. They used to be seen performing repetitive physical work in manufacturing companies. Now they are more sophisticated and they are being introduced into nearly every industry where the work is repetitive and can be automated. The demand for robots is huge and it is growing as more businesses automate some of their tasks.
If you can raise the capital for computers, printers, internet connection, salaries and wages for robotics engineers, raw materials for the robots and production space rental, then you are in a good position to start your robotics company. Read here for details on how to start the business.
5. Home automation business
If you are experienced in home automation, it’s time to start your own home automation business! Smart homes are quickly becoming more and more popular. People now want to make sure that their heating, security system, lighting, television, audio and video systems, appliances, air conditioning, and computers all communicate with one another. They want to control all these remotely from any room or from any location in the world through the use of the phone and the internet. Should they need a service provider to enter the premises in their absence, they want to remotely control when and how they access the premises. Should they forget to switch off an appliance, they want to be able to do it from the office or the airport.
Demand for home automation is growing fast, and it will grow even more with good marketing of your business. Here is a guide to starting your own home automation business.