The business world is always changing, developing, and innovative as new technology and ideas influence how people do business all over the world. Some industries move faster than others, but all businesses need to be able to adapt and change to new developments in the market.
Over the last two years, the world has undergone a lot of changes, with a global pandemic causing many industries to shut down temporarily. 2022 looks to be a year of growth and recovery, with travel and hospitality industries opening back up.
However, some industries may have changed for good. Many businesses are no longer expecting staff to return to the office, causing changes in how people commute and spend their working day. This has led to plenty of new business ideas developing, with a boom in social apps happening during the lockdown.
In 2022, what new emerging business ideas present the biggest opportunities for growth? Our business expert Alex Lysak (find out more about him) made this list of ten of the best and most brilliant ideas including technology innovations.
Remote Working Software
After the pandemic, digital nomadism, which was once one of the most popular and attractive workplace trends, took on a whole new meaning. Previously, becoming a digital nomad was a choice made by independent workers and professionals. Those who were stuck in other nations during the pandemic, however, were forced to become digital nomads when the lockdowns were imposed.
With more people working from home than ever before, the use of remotely working software has grown at an enormous rate. Software for remote working includes video conferring apps, task management software, time tracking apps, and more.
Many of these apps existed before the lockdown hit, but all saw a huge boost in popularity when the global pandemic hit. While lockdowns have been lifted in most countries now vaccines have been rolled out. Many companies have adopted a more remote-friendly policy.
With lots of workers all over the world shunning the typical office life and choosing to work from home, this is an excellent opportunity for anyone with an idea for a remote working app or software. Business in 2022 will likely see a continuation of remote working and the use of specialized software is essential. If you’re unsure of what to create, take a look at the current options and see if any of them have missing features that would make working from home much easier.
Decentralized Finance Platform
Making use of blockchain technology and involving the use of cryptocurrencies, decentralized finance (DeFi) platforms are touted as the next big thing in business. Decentralized finance is a blockchain-based type of finance that uses smart contracts on blockchains. These platforms offer traditional financial instruments without relying on central financial intermediaries such as brokerages, exchanges, or banks.
By cutting out the middleman and using smart contracts, often built on the Ethereum network, these services can save users’ fees and provide much better rates. On top of this, they’re also trustless, meaning users don’t need to worry about the service going bankrupt or not having full control of their own money.
While there are already lots of different DeFi platforms available, it’s a rapidly growing space and there is always room for competition. Blockchain technology in 2022 could be bigger than ever, as more people are starting to get involved in cryptocurrency and cryptocurrency payments. The popularity of cryptocurrency payments was researched by Scanteam with surprising results. By making the right moves now, a DeFi company could go on to become one of the main players in a global industry that may just revolutionize the way people save, borrow, and lend money.
Mobile Gaming Developer
The mobile gaming sector has grown significantly over the past few years, boosted partly by the pandemic but also by the big improvements in technology and capabilities of developers. Between 2021-2026, the mobile gaming market is estimated to grow at a compound annual growth rate of 12.6%. As well as the improvements in technology, growing global smartphone usage is an important contributor to the growth of the mobile gaming business.
Being able to develop and release quality mobile games that a large number of people will enjoy isn’t easy, but it can be incredibly profitable. The biggest mobile gaming studio in the world, Tencent, has a market cap of over $500 billion. Games that reach millions of downloads can often rake in huge revenue from selling in-game items, and as the number of mobile users continues to grow, the market for these games does too.
Virtual Travel Agency
While US travel agencies suffered a lot during the pandemic, many of the largest agencies are now reporting growth once more. As far as start up ideas go, this might not be the most exciting or unique. However, a more interesting emerging business is the rise of virtual travel agencies. Virtual travel agents are a new type of digital agency that focuses on giving people the best possible service while reducing overheads such as office space rental.
A virtual agency can scale significantly quicker than any traditional organization by using cloud services, hiring online freelancers, or subscribing to automated systems to handle previously deemed critical responsibilities such as HR, accounts, and reception. These low-cost, always-on resources allow business leaders to concentrate on the company’s main goals rather than the day-to-day operations.
Through the use of chatbots and other services, virtual travel agencies can provide a high level of service, passing on the savings of the business down to the customer. With people already looking to plan their next summer holiday, this type of service could really take off in the next year, especially with many traditional travel agencies closing down.
Social Commerce Site
Social commerce has grown naturally as a result of people’s use of social media. As social media has grown in popularity, many people have begun to sell and acquire online social networking sites and apps, which is a logical progression. With the popularity of social media, it seems like a no-brainer, especially when you also consider how much people like to sell their unwanted things. This idea was even recognized by eBay. As a result, they created a social integration for their eCommerce platform.
In addition, 30% of internet customers prefer to make purchases using social media sites like Facebook. As a result, Facebook capitalized on this trend and improved social commerce. Users can list their items for sale on Facebook Marketplace. It’s also integrated with Facebook Messenger, so your consumers can set up a meeting or negotiate over price.
Although big companies like eBay and Facebook may already have a head start in this market, it’s still an area that’s growing rapidly, offering a lot of room for the growth of new businesses. In the coming years, we should also expect social selling to become more sophisticated. This includes new digital tools and different features for each platform.
Gig Economy Service
Independent contractors, online platform workers, contract business workers, on-call workers, and temporary workers are all examples of gig workers. These workers sign official agreements with gig economy platforms to supply services to their clients. As of 2021, the gig economy is estimated to be valued at $300 billion globally. Experts expect that it will be worth $455 billion by 2023, based on a 17.4 percent compound annual growth rate.
The gig economy in the United States today employs over 59 million people. It also employs roughly 36% of the American workforce, who have collectively contributed $1.2 trillion to the US economy. Services already operating include ride-sharing app Uber, food delivery company GrubHub and freelancer platform Fiverr. There are lots of potential opportunities for new services to enter the market, however. As business trends 2022 show, this space will continue to grow.
Subscription-based services have been growing in popularity over the last few years, with millions of people subscribing to subscription services offering everything from food to entertainment to software. No matter what you’re interested in, you can probably find a company that sells it as a subscription, allowing consumers to sample different things and cancel at any time.
Subscription services are unique in that they can operate in just about every niche and industry you can think of. If you have an idea of an under-supported niche, this could be an excellent opportunity to build a business with enormous growth potential.
Cloud-based gaming has taken off in the last year or so, particularly as the pandemic confined many people indoors. These services give users the chance to play video games on a cloud-based machine, allowing them to play the latest games without needing to buy an expensive games console or PC. With supply issues to major consoles and graphics cards, these services have proven to be a real hit, and while there are licensing issues over games, most platforms offer users an excellent experience.
The market for cloud-based gaming may be controlled mostly by Nvidia and Google Stadia, but there is still room for new companies to come in and disrupt the space. By providing customers with a fun way to connect and play their favorite games with few technical issues, cloud gaming services offer a great alternative to buying expensive hardware.
Socially Responsible Marketing
Many people regard corporate social responsibility (CSR) efforts as little more than a publicity trick. These departments exist in some corporations solely to maintain a professional image. This has changed, though, in the age of social media. People have a proclivity for finding and sharing information quickly.
As a result, insincerity is clearly recognized. It can also be easily faked at times. The response on social media is real. It makes no difference whether the information is accurate or not. On some social media platforms, such as Twitter, the wrong message sent out by a company can result in the loss of sales. There have been many cases of businesses losing the support of their consumers due to their advertising campaigns or poorly worded social media posts. Likewise, being socially responsible can also lead to improved brand loyalty from consumers, who are more likely to buy from companies with values that align with their own.
Marketing companies that understand CSR and are able to advise other companies on how to implement it are in high demand currently. Consumers now place more emphasis than ever before on social responsibility, and it’s unlikely that this trend will go away anytime soon. Companies that can utilize this to their advantage when thinking about how to start business in 2022 have huge growth potential.