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Despite the apparent dominance of large corporations, small businesses remain the driving force of the American economy. According to the US Small Business Administration (SBA), approximately 550,000 new small businesses are created in the country each month, creating two out of every three new jobs. More than half of Americans own or work in a small business. Although it is known that most successful small businesses start with a great business idea backed by a solid business plan, some businesses and industries have greater profit potential than others. If you are an entrepreneur or investor looking for a new business opportunity, limiting your options to the most profitable small businesses listed in this article is one of the best ways to ensure success. Here are 10 of the most profitable small businesses as ranked by Sageworks in order of average profit margin and listed with the corresponding North American Industrial Classification (NAICS) code. For comparison, the average profit margin for companies in the Standard and Poor's (S&P) 500 was 11% in 2017. The most profitable online businesses What we are going to list are some business ideas that you can open with a minimal investment. All of these businesses are very promising and potentially profitable, and the best part is that you don't need to be the next tech superstar or a coder to open them. What we are reviewing are profitable business ideas that you can open that do not require years of educational experience. In fact, we're going to review 27. Company life cycle Yes, you can start a blog. In fact, blogs are easy to start and are potentially very lucrative. You can monetize a blog through affiliate marketing, advertising revenue, link placement, sponsored posts, etc. Are you a person who likes to put everything into words? You can express the deepest observations, even in words. It's time you start writing about the place you live from different perspectives. Explore the hidden treasures of your city and let others know about them too through your blog. It's time for you to start earning with your skill.
There are numerous public places in any city, and as long as Azerbaijan Mobile Number List they exist, the cleaning services business will never be out of demand. It includes very little investment in equipment compared to other ideas and as for customers, who doesn't want a clean and tidy place at reasonable prices. Finally, the skills of your staff are directly proportional to the level of the place you are going to work for. Most profitable industries In fiscal year 2020, Apple had the highest net income of any company in the world, with profits of $57.4 billion. Saudi Aramco, SoftBank Group, the Industrial and Commercial Bank of China and Microsoft completed the top five positions in the ranking of the most profitable companies. Net income, or net profits, is the figure that gives the most complete view of a company's profitability: Net income represents all the money that goes in and out of a company, and is calculated as a company's income minus all operating expenses, debt payments, interest paid, income from subsidiaries, taxes, etc. Different industries have different net profit margins, and corporations in the financial industry reported around US$380 billion in profits in 2018. Create fake Instagram account In terms of market value, Apple was the world's third-largest company in 2019. Since the beginning of the new millennium, Apple has reported increasing amounts of revenue around the world, with iPhone sales leading the charge. Ibm Also Read: How to Start an Interior Design Business? 3. Real estate sector: A booming business in IndiaReal estate sector has always been a flourishing sector in India. The Indian real estate sector is expected to reach $1 trillion by 2030.
The rapid pace of urbanization, as well as the increasing rate of nuclear families, makes the real estate sector booming across India. Housing sales alone reached 2.61 lakh units in seven major cities of India in 2019. However, a real estate business is quite expensive. It requires a lot of capital to get high returns, and lower investments don't bring much benefit. In fact, it is one of the best businesses in India. Also read: How to start a real estate business? 4. Building Materials: “Make in India and Build in India “When we talk about the best businesses to start in India, we should not ignore the building materials business. With a growing real estate market, you can also expect an increase in construction materials. Especially in the case of steel, as current trends indicate that India could grow to become the second largest steel exporter. Reports suggest that the Indian steel industry would produce around 300 million tonnes by 2029-2030. This demand is also fueled by the growing automobile industry. Although steel is also imported, the government has recently placed a lot of emphasis on “Make in India” and “Build in India”. These initiatives have been very successful in national production.