6 Online Small Business Ideas You Might Not Have Thought Of

With the impending recession looming over our heads, having a side income is crucial, especially when the effects of the economic downturn could be potentially catastrophic. But not just any side income would do.

The side income you choose should be easy and lucrative enough to help you meet your needs. This is essential in the age of frequent mass layoffs. But which income stream should you focus on to make the most of everything?

Let’s check out six out-of-the-ordinary and lucrative small business ideas.

Virtual event planning and production: As more companies shift to remote work, the demand for virtual event planning and production services is increasing.

1. Online Language Tutoring

With the rise of remote learning, online language tutoring has become a popular and profitable business idea. This is especially true if you’re fluent in Spanish or English. For instance, you could teach English or Spanish to students.

Online tutoring allows students to learn from the comfort of their homes without the need to commute to a physical location. It also helps them schedule lessons at a time that works best for them, making it easier to fit language learning into a busy schedule.

You can use a variety of digital tools, such as video conferencing, online whiteboards, and shared documents, to enhance the learning experience and meet your student’s needs and goals.

2. Social Media Management

Many small businesses don’t have the time or resources to manage their own social media accounts, making social media management a valuable service. Plus, as more and more businesses look to establish a presence on social media, the demand for social media management services has grown.

So, if you start a social media management business, you’ll be investing in an expanding market with lots of opportunities. Plus, many social media management businesses can be run from anywhere, allowing for a great deal of flexibility in terms of location and work schedule.

This type of business can also provide an opportunity for you to earn money while caring for your children.

3. Virtual Interior Design

With virtual interior design, you can work with clients remotely to help them redesign their spaces without ever having to leave your office. You can also offer your services on Fiverr, Upwork, or other freelance platforms, earning thousands on the side.

Another option is to create a LinkedIn profile and begin posting your interior design ideas. This will help you create a brand that’ll keep clients coming to you instead of you chasing them.

Plus, an interior design business can be run from anywhere, so you won’t have to create a designated nook for your work.

4. Virtual Bookkeeping

Many small businesses need help with bookkeeping but don’t have the budget to hire a full-time employee. Virtual bookkeeping services can fill this need.

As a virtual bookkeeper, you can help companies with the following services:

• Recording all financial transactions, including sales, purchases, and payments, into a company’s financial records.
• Maintaining and reconciling all of a company’s accounts, including accounts payable and accounts receivable.
• Preparing paystubs and financial statements, such as balance sheets, income statements, and cash flow statements, which provide a snapshot of a company’s financial health.
• Processing payroll for employees, including calculating and withholding taxes and making payments to government agencies.
• Helping with budgeting and forecasting by providing accurate financial data to management
• Ensuring compliance with tax laws and regulations by preparing and filing tax returns and other financial documents.

5. Virtual Legal Services

Many legal services can be done remotely, such as document review, contract drafting, and legal research. This can be an opportunity for lawyers and legal professionals to start their own virtual practice.

You can help clients with the following:

• Advising businesses on legal matters related to starting, running, and closing a business, including incorporating a company, and negotiating mergers and acquisitions.
• Protecting and enforcing clients’ rights to their creative works and inventions, including registering trademarks and copyrights and litigating infringement cases.
• Advising employers and employees on legal matters related to the workplace, such as drafting employment contracts, addressing discrimination and harassment claims, and handling disputes.

You could also help small business owners with legal issues related to starting and running a business, such as drafting contracts and complying with regulations.

6. Food Delivery Services

With busy lifestyles, many people are turning to food delivery services to have their meals brought to them. So, starting a food delivery service can be a profitable business venture. 

First, you need to have a talent for making food. So, this business would be a great fit if you’re a home cook, trained chef, or pastry maker. You could offer sweet delicacies to your customers, sell savory foods like patties or salty biscuits, or exotic food like chicken karahi or pakoras.

You could work online or offer your services on-site. An online food delivery service would need you to create a website, an app, an online store, or a place where customers could come to you. Plus, creating all of these will cost less compared to establishing a store.

Aside from that, you’ll also have to buy items to make your food offerings. For instance, getting flour, yeast, butter, eggs, baking powder, sugar, salt, spices, milk, and other items is necessary before establishing your food delivery service.