Online Business Ideas you can take advantage of in 2020

Updated: Sep 18, 2020

Number of internet users is growing significantly every year. Taking the Canadian example, the number of internet users in 2025 is projected to reach 34.72 million. Significant increase from what it was in 2015, which was only 30.51 million.

People are accessing internet from wherever they are from their computers and mobile devices without any barriers. Businesses are always busy studying where people are and where they will be in the coming months or years and plan their business models accordingly. If we say more and more people are coming online that would mean businesses are working hard to establish their online presence and their sales online. This can be confirmed from the eCommerce growth data for Canada of Statista.

The eCommerce revenue in 2017 was 21.975 billion in US $ and that same revenue is projected to reach 36.423 billion in US $ in 2024.

What both trends in internet use and eCommerce revenue show is there will be tremendous opportunities for online businesses in the coming years. The earlier we start to engage ourselves in the digital business chances are that we will register significant growth in the coming 4 to 5 years.

This article will see the some of the online business ideas that people are currently generating income from and are more likely to contuse expanding in the future.

1. Writers

If you are good writer or you take writing as a hobby then the following business ideas are for you:

Blog about the subject you love and satisfy your writing hobby while at the same time earn some money. Audiences would like to hear your stories and experiences and naturally get engaged with your blogs. While blogging you can sell your won products, monetize your blog for their party ads or you can refer traffic to the site you affiliate with.

Publish a book on Amazon to take advantage of their marketing and distribution system. You can also sell your books through your own online store. To save printing expenses you can publish your book on eBook format. The shipping, storage and packaging costs go direct to the pockets of your customers.

Copyrighting can bring you decent income if you are an expert writer. Language competency, appropriate tone and basic SEO knowledge are required for this business. Textbroaker and Greatcontent are some examples of sites that you can get copyrighting jobs as a starter. These can help you to excel your writing skills while earning some money.

Technical Writing

If you have technical knowledge of certain machinery, devices, furniture then you can start writing for big companies technical description, assembly and/or maintenance procedures for their products.

2. Software business

If your coding skills are good enough and /or you are a tech savvy then you can do the following online businesses:

Website Developer. If you have a talent for designing website and html coding you can create a wide variety of attractive templates for different purposes. You can sell theses templates at sites such as Themeforest and TemplaleMonster earn good money.

Saas and App developer. You must study certain problems are facing and develop an SaaS or app solution for that problem. People will be willing to pay for an Saas or an app that really solves the problems they have. This business is ideal for people with good coding skills.

Chatbot business. Cahtbots are now almost on every eCommerce websites. Companies are increasingly relying on chatbots in an effort to automate some of their marketing and Sales. They can answer the most common questions and guide clients to navigate their sites without problems with the help of the chatbots. Good understanding of certain niche business combined with coding skills can earn you a living by selling chatbots online. PandoraBots, Chatfuel, Botsify, ChatterOn are some examples of chatbot builders.

Buy and Sell Domain names. People buy domains from the host sites at a cost price and sell them later on at a profit. To understand this business one has to visit domain name auction sites, and

3. Marketing and advertising

Influncer marketer was once for famous people and celebrities who are active on social media platforms. Due the involvement of these high income people with a number of sponsored brands businesses are now looking for less popular influencers to recommend their products to their followers for more natural marketing. If you are very active on social media and have amassed thousands followers then this is business is for you.

Affiliate marketing is a way you can get paid commission for referring traffic and/or leads to the website of certain businesses. You recommend your audience to buy a product/s that you are familiar with or conducted a research on. Some companies that pay good commission are Amazon, eBay, Wix, Hubspot, Coursera, BigCommerce, SEMRush and many others. Basic knowledge of SEO and copyrighting is required here.

Market researcher. Business usually conduct intensive market research to identify the target market and gather customer feedback on their products. The research is also required to learn from competitors. To do this you need to be familiar with market research procedures and market research tools such as Google Keyword tool, Sample size calculator, Social Mention, R Studio and Stats IQ.