Throughout history, there has been an imbalance in the representation of women in the professional realm. In previous times, the business world has predominantly been perceived as being controlled by men. However, from the beginning of the 21st century onwards, women have progressively strived for increased inclusion in decision-making positions.
This article will discuss excellent small business ideas for women in 2023. It will provide an overview of the current landscape of women’s entrepreneurship globally and explain why it is crucial for more women to venture into small business ownership. Lastly, it will offer valuable tips for successfully managing and growing a profitable small business.
Women’s entrepreneurship around the world
With the increasing empowerment of women to pursue their aspirations and assert their legitimate role as leaders across different sectors, there is a growing trend of women entrepreneurs emerging globally.
Recent studies reveal that there exist approximately 10 million SMEs possessing at least one female owner. For instance, in the United Kingdom, micro-businesses owned by women make up 40%, which is an increase of 8% in a span of two years. Nevertheless, despite this progress, women solely own only one-third of all businesses worldwide.
While women are making progress in assuming powerful positions in the business realm, it is crucial to acknowledge that certain cultures present challenges for women to flourish as leaders. We understand that in some countries, restrictions exist regarding property ownership, which unfairly hampers the advancements of numerous women.
Small business ideas for women
The possibilities for small businesses that women can start are endless. However, aspiring entrepreneurs often find digital business endeavors more appealing due to their lower barrier to entry.
Let’s now examine online opportunities for women to establish small businesses.
1. Dropshipping
If you want to ease into entrepreneurship, dropshipping is an excellent option. Dropshipping is a business model where products are sold, and fulfillment is outsourced to a third-party supplier.
The dropshipping business model allows the seller to operate without keeping any inventory, which is advantageous due to the low-risk nature and minimal initial investment required. However, it is crucial to recognize that if the goal is to establish a robust brand, dropshipping may not be the ideal approach as the customers’ experience heavily depends on fulfillment partners.
2. A Traditional eCommerce Store
Another possibility is to start an e-commerce store and handle the order fulfillment internally. This type of business allows you to either produce your own products or obtain them from a wholesaler. It also gives you the opportunity to curate a selection of items from different brands.
By creating a traditional e-commerce store and having complete control over all business operations, you have the chance to establish a brand. Though this kind of business demands a greater investment compared to dropshipping, it is still achievable without requiring abundant resources.
3. Manufacturing
If you possess the necessary resources, there is a significant amount of profit that can be attained through manufacturing. Given that manufacturing entails the ownership or rental of a factory and the upfront acquisition of machinery and materials, this particular form of small business necessitates a relatively substantial initial investment.
Despite the initial investment, it should not discourage you from initiating a manufacturing business as there are methods to obtain financial support. Some possibilities for acquiring startup funds encompass grants, business loans, or attracting investors.
4. The act of wholesaling is understood as the process of selling goods or merchandise in large quantities to retailers, rather than selling them directly to individual customers.
Although manufacturing is a form of wholesaling, it is possible to establish a wholesaling business without engaging in the manufacturing process. Instead, you can obtain products from a manufacturer or another wholesaler and sell them to your target market in large quantities.
Some may question the necessity of this, as manufacturers could sell to retailers directly; however, there are numerous situations where an intermediary plays a crucial role, particularly in the case of exporting.
5. Online Courses
If you possess a skill or have devised a replicable method that can yield desirable outcomes, it is advisable to contemplate the creation and sale of online courses.
If you want to extend your online learning business beyond yourself, consider creating a marketplace showcasing courses from other experts or educators. Additionally, you have the option to sell your online courses on your own site or on a marketplace.
6. Brand Strategy
In recent years, there has been an increase in the number of small businesses. However, a significant issue arises when it comes to brand building, as there is a lack of connection. Numerous new business owners overlook the significance of establishing a relatable persona for their businesses that resonates with their target audience.
Brand strategists play a crucial role in assisting businesses in establishing a unified brand identity, which encompasses visual style guides, logos, brand voice, and additional elements.
7. Web Design
With the increasing importance of websites as substitutes for physical stores, website design has become an invaluable service. The main aim is to develop a branded experience that motivates viewers to perform the desired action.
A web designer skilled in both aesthetics and functionality can successfully create a balance between the two. It is important for the website to effectively showcase the brand and address all potential buyers’ inquiries.
You are able to work as a freelancer or with an agency for this, just like content writing.
8. Web Development
Website development serves as a complement to web design, as it transforms a design into a functional website. A web developer possesses the skills required to bring the design to life. This often entails possessing technical expertise. While some designers rely on a drag-and-drop site builder for their projects, others concentrate on custom coding.
If you have team members who are capable of both, the same business can offer development and design services.
9. Marketing as an Affiliate
Affiliate marketing is a form of performance-based advertising wherein a company rewards third-party publishers for driving traffic or generating leads towards the company’s products and services. The affiliate publisher only needs to seek out a product, advertise it, and receive a portion of the company’s profits for each sale made.
Affiliate marketing is currently a popular method for people to earn money online. It has the potential to generate a passive income once successfully established, with the ability to earn more than USD 50,000 a year.
Appy Pie runs one of the most profitable affiliate programs, promising earnings equal to the effort put in by providing rewards to affiliate marketers for each sale.
10. Writing on a freelance basis.
Freelance writing is the act of writing in exchange for payment without being employed by a company or organization. Freelance writers produce written content that is required by their clients and have the flexibility to work from their own home or from an office space they have rented.
The compensation of freelance writers depends on the workload of each project, but the method and range of billing for the content can differ. Freelance writers typically earn a yearly salary of anywhere between USD 24,000 to USD 115,000.
11. A proofreader is someone who examines text for errors.
A proofreader’s duty is to guarantee that written content is devoid of any errors related to typographical, grammatical, spelling, punctuation, syntax, and formatting.
The proofreader relies on his judgement, skill, knowledge, and experience to assess the work of the author, editor, and designer/typesetter, making necessary corrections. People seek reassurance and trust that their important text is free from errors, making it worthwhile to opt for a professional proofreader. A proofreader’s earnings typically range from USD 25 to USD 44 per hour.
12. Person responsible for maintaining financial records by systematically recording transactions in a book.
Bookkeeping is a component of the accounting process in any business, entailing the recording of all financial transactions such as purchases, sales, receipts, and payments conducted by individuals or organizations.
Bookkeepers are responsible for advancing the books to the trial balance stage, after which an accountant can utilize the trial balance and ledgers prepared by the bookkeeper to create the income statement and balance sheet. It is common for bookkeepers to earn an annual salary of USD 54,000 or higher.
As your workload increases and you acquire additional clients, it is understandable that there would be a requirement for automation of certain bookkeeping or financial accounting tasks.
Appy Pie Connect can assist you in integrating accounting apps with any other apps you use. This will not only eliminate mundane tasks but also provide you with ample time to concentrate on work that requires your undivided attention. And the best part is, you can accomplish this integration within minutes without any coding knowledge required.
13. Person who holds influence on social media platforms.
A Social Media Influencer refers to a user who holds credibility in a particular industry on any social media platform. By having a significant number of followers, they can effectively convince others due to their genuine nature and wide reach.
By actively participating on social media platforms including Facebook, Twitter, Instagram, YouTube, and several blogs, they manage to accomplish this. On average, social influencers make $1,000 for every 100,000 followers.
You can elevate your social influence by developing your own social media application or transforming your Facebook page into an app. In doing so, once your followers install your mobile app, you would gain a direct means to engage with them.
14. Engage in sales activities on the Amazon platform.
Amazon provides a platform for anyone to establish an online store. Despite its apparent complexity, the process is actually uncomplicated and straightforward. One can discover favorable bargains on merchandise in offline brick-and-mortar establishments and subsequently resell them on Amazon for a higher cost. The profits from online transactions have consistently experienced substantial growth. It is estimated that Amazon sellers earn approximately USD 10 million annually.
If you are struggling to begin your venture on Amazon, we offer the perfect solution for you. Appy Pie Academy provides an excellent course that you can participate in without any charges, enabling you to acquire knowledge on initiating an ecommerce business.
A person providing guidance and support to help individuals improve their lives is known as a life coach.
If you enjoy helping people, you might consider becoming a life coach as the daily stress can be overwhelming for everyone. In certain cases, some individuals find these burdens to be excessively taxing mentally, leading to significant emotional problems.
If you are a certified life coach, you can earn a higher income by offering assistance to individuals. Specifically, as a life coach, you have the ability to set prices ranging from USD 70 to USD 260 for your services.
The process of converting spoken language or written text into written form is known as transcription.
A transcription is a written document produced by accurately typing all the spoken words from an audio or video source. There are different methods available for transcribing audio or video content, and several reasons why obtaining a transcription of the document might be desirable.
When working on subtitling, transcription is usually more time consuming because it requires logging time-codes in hours, minutes, seconds, and frames. Moreover, the transcriber must allocate sufficient time for the viewer to read each subtitle on the screen. In general, a transcriptionist earns approximately USD 15 per hour.
17. The role of a Social Media Manager refers to the individual responsible for managing social media accounts and platforms.
Social media managers are responsible for the representation of a company on various social channels, wherein they both engage with comments and generate content.
These professionals offer advice to improve a company’s online visibility. Almost all businesses acknowledge the tremendous worth and advantages of social media marketing, resulting in a plethora of possibilities for you. On average, a Social Media Manager earns approximately USD 63,294 annually.
When performing the duties of a social media manager, there are numerous tasks that can become repetitive. These tasks may include creating reports of comments on posts, tracking new followers, managing leads and inputting them into CRM software, and similar activities. It is logical to incorporate your social media management app tasks into a no-code workflow automation software such as Appy Pie Connect.
