In the past decade, there has been a recent boom in entrepreneurship and different business models across the globe. The technological advancements and use of digital platforms have allowed for new ideas to be created. Some of these ideas have proved to be very innovative and profitable for their owners, and while they are popular in their country of origin, they can be an interesting business opportunity to implement elsewhere.
Let us look at the trending business ideas around the world that have recently come to light:
Third-party gaming add-ons – Australia
Our internet usage has transformed how we interact with everything around us. According to an article published by Edge Online, the top three digital trends in Australia for 2019 are mobile, online shopping, and video watching. This essentially means that most Australians refer to the internet for conducting their day-to-day activities. With the mass production of online games and platforms, add-on applications have become an increasing trend. Among those are third-party gaming add-on development companies. This is especially true in Australia, where the gaming industry is growing steadily. The new trend is bypassing the games and consoles and zooming in on the add-on features of those games to make a profit. Micro-transactions that occur within the game is a market on its own that is growing significantly, and many entrepreneurs have already tapped into it.
Discount on eating out – India
These platforms give users discounts of up to 70% in restaurants, cafes, bars, and other food outlets throughout India. This business trend works very well, especially in developing economies where all parties stand to gain. It works by having food and beverage providers sign up with a one-time registration fee, and post their discount offers on the site. In turn, depending on the site, consumers can purchase their coupons directly online and later present them at the restaurant. The website is also able to make a small percentage off of each coupon that’s purchased. With a population as large as India’s and unlimited food outlets, this trend has taken off really well. Some of these sites even connect you to the restaurant’s online delivery system for online orders. All this happens digitally without the need to make phone calls.
Online financial advising – Philippines
This much-needed business service—especially for millennials all over the world—is getting a boost in the Philippines. Services provided by financial advisers are expected to grow at a rate of 30% by 2026. Many people have recently realized the importance of becoming financially literate, knowing how to manage their finances properly. This is where online financial advising comes in. There are a couple of options on how to use these services; custom advising, where individuals are able to chat on the phone or via video with their financial advisor, and tech- assisted advising for more tech-savvy individuals with the option of connecting directly with an advisor. This niche market is growing in demand and will continue to do so as new generations look for ways to understand their finances and how to invest in the market.
Website rentals – Global
Many people call themselves a web developer, but not many rent websites. A new trend that has been popping up in several regions globally is website rentals. This technically means creating several websites for specific industries and companies, then renting out different versions of them that can be customized to each specific local business. In other words, a website template is created from the ground up, then local businesses are plugged into the website through customized content and logo for a monthly or yearly fee. The maintenance and some content update and management, along with an SEO agreement are taken care of by the website owner. This is a great passive income source and is very lucrative for local businesses, which tend to be lacking in digital and technical acumen. So, being able to rent out this service to them definitely makes it a win-win situation.
Every year, we see new trends in business, emerging, and some ideas are so simple and brilliant that you wonder how you didn’t think of it yourself. As long as technology keeps advancing, business ideas will keep being created and invented. There are also a lot of businesses that have been started in order to cater to a country’s specific needs, but they can always be adapted to other countries to suit them as well. At the end of the day, no matter the industry, digital platforms will continue to be the driving force behind new business ideas for a long time to come.
