Best Small Business Ideas for 2020

With different enterprises flooding into the business world now and then along with the huge successes recorded by entrepreneurs who started from scratch, undoubtedly, there’s one you can consider as a yardstick for your success.

The best part is, low-investment isn’t a barrier to profiting from some of these enterprises. With the proper advice, witty marketing strategy, and understanding the rudiments of your choice of business, you can eventually start up a profitable enterprise in your name.

There’s no better way to grow than to start small. So, here is a concise list of the best small business ideas for the year 2020 to help you secure the money bag this year and for much later. Please read on while you infer which one is best for you:

Online Tutoring

Technological advancement is all to human advantage. With the numerous software applications, we have today, smart people are taking advantage of videotelephony and social network platforms to make a juicy profit.

Are you a pro in any field? You may decide to transfer your wealth of knowledge to interested students online. All you need to do is get your facts ready in a comprehensive manner with enough data to connect with your learners. 

You can tutor online through videos or writings. Simply consider the best way to convey your expertise to them. Remember, more and more people prefer online classes to the four corners of a school. So seize the opportunity while you leave no coin on the table.

Clothing Boutique

If you’re interested in fashion and you have an eye for stylish clothes, then opening a clothing boutique is a great idea.

Make an excellent business plan after doing your research, search for a strategic location for your business. And look for trusted suppliers to source different brands of clothing items.

Moreover, a business like this positions you to sell not only to the people around you but online customers too. That way, you’ll be building a vast clientele. You may create a website where you showcase your goods for easy accessibility by clients. Or you create social media handles for your business.


Would this list be great without including freelance? With freelancing jobs, you don’t need more than your proficiency, a laptop, or even a phone to rake in some money.

It may be competitive just like any other business out there, but the best part is there are so many agencies and companies waiting to pay for your skill by the second. Some promising niches you may want to try, include designs, app development, photography, and video editing.

A handful of the freelancing platforms you’d want to explore include: Freelancer, Upwork, Fiverr. There’s also College Recruiter, which focuses on helping students and new graduates to seal their first freelancing deal. Content also specializes in churning out profitable writing freelance jobs for writers only.

These websites also protect your interest erasing the need to doubt the security of your job.

Food Truck Business

Because food selling is such a lucrative business and you might be one of those with an incredible passion for cooking, we’ve included this on our list, so you put your skill to good use.

Instead of just enjoying one-minute of compliments from family members after using a pellet grill to satiate their BBQ cravings, why don’t you start a food truck business instead?

With high sales, you can join the league of restaurant owners on any street.


If looking after babies feels much like a hobby to you, then babysitting business might be the key to your financial success.

Like any other business on this list, committing your time to something you love doing like babysitting will help you stand on your two feet financially.

Consider the time you’ll be available and the numbers of babies you can take care of and let your potential clients know. Familiarize yourself with your duties as a babysitter. This way, you won’t run out of business based on a bad reputation.

Finally, as a potential small business owner, deter yourself from taking loans that can ruin your chances of running a profitable business. Source your capitals from personal savings or other less risky financial sources. Undoubtedly, you’ll be on your way to creating your rag to riches stories.