3 Creative Small Business Ideas for Millennials
Start your new business with some great ideas
When I was growing up and in school, I thought I had my life all figured out. I would complete school, get a good job, live in a well-furnished dream house and have all the fun I dreamed of. This thought was valid since money wasn't going to be a problem. Right?
When I graduated, reality hit me hard and knocked me down. Getting a job wasn't easy despite my grades being pretty descent. This is a very familiar story for Millennials around the world.
The "Great Recession" really changed the game plan for a whole bunch of young folks. From Ohio to Dakkar, and everywhere in between, young people are faced with economic circumstances they were not prepared for.
One emerging trend is young people opting to go into business rather than enter the workfrce. According to the 2016 BNP Paribas Global Entrepreneur Report, millennials are starting businesses at younger ages than their counterparts in previous generations. According to the same report, the average age for Millennials starting new businesses is 27.
Millennials are more eager to use the various tools available ( social media, mobile technology) to start new businesses at a fraction of the cost required just a decade ago.
With that being said, here are a few business ideas to consider as a young person:
Agribusiness
Many young adults have turned to farming. Instead of struggling to live in the city trying to make ends meet, they have opted to go back to the villages and become productive. For those whose families don't own farming lands, they have leased farms in parts of Kenya where there is favorable farming climate.
Doing research on the best farming methods and employing them have led to many discovering a goldmine in agriculture. Young adults are attracted to this business after reading success stories of their fellow youths.
Some of the agribusinesses that are doing quite well include horticulture farming, chicken rearing, rabbits breeding, growing onions among others. With these, you don't require significant capital. The return rate is fast.
Online stores
Online stores are cropping up every day selling all sorts of stuff. Young adults are using social media to market their products. Ranging from electronics and accessories, and clothing and shoes are some of the products that you can sell online these days.
If you manage to get a supplier, you don't have to struggle about where to open a store. You can sell your products online. To put up with the intense competition in this business, ensure you offer extra services such as delivery. You can deliver for free within your locality and charge an additional fee to take outside the locality.
Freelancing
Freelancing is probably the cheapest businesses one can venture into. It only requires a laptop/computer and good internet connection. There are so many freelancing activities that you can do online. There is web designing, content creation, graphic designing, virtual assistance, academic writing and networking among many others.
If you are perfect at either pf the above, you can decide to make an extra coin by training newbies. Many people are living out of freelancing money and trust me; it pays better than most of those white color jobs you always desired.
If you have unsuccessfully searched for a job, decide to take a U-turn and go business way. As long as you are passionate, driven and possess the desire to succeed, go for it!
