15 Small Business Ideas for 2024 – Forbes Advisor Australia

If you're an expert in a particular field, like math, languages, or violin playing, you might be able to make money teaching.

You don't need formal qualifications to become a tutor, although some students (or their parents) may expect you to have a degree or postgraduate qualification. Past teaching experience will probably also be helpful.

Remote classes via Zoom and other methods have become widely accepted, and private tutors have become more accessible than ever. You can also choose to start solo or join a tutoring platform. You'll probably have to pay to list online, but taking this approach could widen your customer base.

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Animal lovers can consider starting a pet sitting business. This allows your client's pet to spend time with you while you're at work or on vacation. It could be their home, it could be your home.

If you have the space at home for the appropriate equipment, you can also invest in a grooming business. If not, you can also invest in a mobile-enabled business. Dog walkers are also in high demand and require no special qualifications other than reliability and trustworthiness.

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Cleaning and gardening are flexible when it comes to making extra cash. You may bring your own cleaning supplies (which will count towards the price), but it is equally acceptable to have the client provide them.

If you have the potential to increase your income, consider adding laundry and ironing services. In the case of gardening, diversification means design, landscaping, garden organization, and more.

Do you have a talent for baking and decorating cakes? Or maybe artisan sourdough is more accessible? It's possible to translate these skills into a successful business.

However, if you prepare food at home for sale to the public, you will need to register with your local authority to ensure compliance with food hygiene and other standards. For example, think about the best way to promote your new business through local press and social media.

Please contact Food Standards Australia for more information.

Personal trainers are both training experts and motivation experts. Their job is to create workout plans for their clients to help them lose weight or achieve other fitness goals.

If you want to work at a gym or as a freelance PT, you'll need training and certification, which takes time and money. However, trainers can earn anywhere from $60,000 to $70,000 a year, or even more, depending on their location and target market, and it can pay off. In addition to one-on-one sessions, you can also take group classes and boot camps.

Employees who are successful with organizations and Excel spreadsheets are likely to be successful serving individuals, businesses, and company executives.

Tasks may include organizing diaries and calendars, booking travel and other tickets and appointments, as well as other personal administrative tasks that save clients valuable time.

If you have a knack for needle and thread, you can start a business that does sewing and alterations for many people who don't have the skills.

Alterations alone can keep you busy, but you may also specialize in a particular field, such as handmade wedding dresses, bridesmaid dresses, or dance costumes.

You will need to invest in a quality sewing machine and basic materials and supplies. You may also consider partnering with local dry cleaners and laundries as a way to expand your customer base.

Most businesses have an online presence, but many are not satisfied with blogging, emailing customers, or content on their website. Must be professionally written and edited.

If you have writing experience, all you need is a laptop and a good internet connection. Many writers and editors promote their services on LinkedIn and other business social media groups. You can also contact companies directly to offer your services.

This is great business for creators who are particular about composition. You can become a generalist or choose an area of ​​specialization, such as creating training videos for corporate customers.

To achieve the highest quality footage, you should invest in high-quality camera equipment and lighting accessories, or if you have a videography business, a good digital video camera, lights, microphones, and bounce boards.

If you are good with numbers, you may want to consider freelance bookkeeping. Bookkeepers sell their services to small and medium-sized businesses that need help managing accounts, preparing payroll, and collecting data for tax purposes.

You need to plan well and fully understand the potential responsibilities that come with handling someone's finances.

If you create a successful blog and increase the number of subscribers, it is possible to monetize it. The most successful bloggers or video bloggers, aka YouTube video bloggers, can earn an annual income from it.

There are many ways to make money from your blog, including advertising, affiliate links, and subscriptions. Research your options and successful blogs and bloggers to find the best route.

If you are fit, strong, and patient, all you need to set up a moving company is a van. However, this job requires a lot of physical strength. In addition to parking, you also need to be comfortable driving long distances and in crowded urban areas.

You must purchase liability insurance and vehicle insurance to be prepared for any eventuality.

With the right product in the right environment, market stalls can reap significant profits. Whether it's a food or farmers market, or an antiques or craft fair, you not only have to book and pay for pitches, you also have to manufacture and source inventory.

Related: Bess Passive Income Ideas for 2023

Buying and selling online is probably one of the easiest businesses to start. And finding a niche market should help your business succeed.

If you want to make and sell items yourself, you can use Etsy, an online marketplace for selling unique, individual, and often handmade items. Setting up an Etsy shop is easy, but you'll need to factor in transaction fees for each sale.

Related: Guide to using Shopify

This type of business can be set up with very low overhead. Vehicle cleaning supplies will be required. Also, if you provide transportation services, you will need to pay for your own transportation, but other costs are not that high.

Liability insurance and legal expense insurance are important in the event of a dispute regarding accidental damage to a customer's vehicle.

Of course, once you have decided what to sell within your small business, you need to ensure that it is set up in an Australian Investments and Securities Commission (ASIC) compliant manner and that the business model is suitable for your company. There are four types of business structures to choose from:

• Sole proprietorship: This model is ideal for solo operators who do not want to expand their scale. This is the simplest type of business setup and requires minimal paperwork apart from him filing for ABN or GST if the business's revenue exceeds $75,000.
• partnership: As the name suggests, this model is suitable for two or more people who share joint income and responsibilities.
• company: A company is a separate legal entity, and this structure is usually much more complex than that of a sole proprietorship. Companies can incur debt and, like people, can be sued.
• trust: A trust is a structure that allows an individual, called a trustee, to hold property or business assets for the benefit of another person.

For more information on setting up a small business, check out ASIC's dedicated guide.