5 Top Trending Business Ideas For Millennials

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Nov. 22 2022, Published 8:05 a.m. ET

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In the midst of the Great Resignation, many of us are starting to feel a drive to be more entrepreneurial.

According to research by the Pew Research Center, some of the main reasons workers left their jobs in 2021 were low wages and a lack of opportunity to advance further in their career.

Starting your own business is a good way to secure more opportunity and work towards a more fulfilling career.

If you know that you want to start a business, but you’re not sure what type of industry you want to get into, here are a few trending business ideas for millennials.

Launch an online course.

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According to Global Market Insights, online learning is projected to be a $1 trillion dollar industry by 2027.

The industry brought in $250 billion in 2020 alone, so it is a lucrative one to start if you have expertise on any given subject.

Online courses have low startup costs, which means the profit margins are high. All you need is a computer and a platform to use.

Skillshare is an online site that can help you get started teaching. The fees to start a class are relatively low and teachers can rack up a lot of earnings quickly, as you have the ability to set your own rate.

Start an e-commerce brand.

If you have a passion for creating products or selling them, consider starting your own e-commerce brand.

As the world goes more online every year, e-commerce only grows in popularity.

According to a report by Grand View Research, the global e-commerce market size was valued at $9.09 trillion in 2019, with a projected growth of almost 15% by 2027.

With tools like Amazon Fulfillment, Etsy, and Shopify starting your own e-commerce brand is relatively easy.

Just find out what you want to sell, craft a business model, and decide what platform you want to use for your shoppers.

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Start consulting.

There is another business that you can start if you have a lot of knowledge on a specific subject: consulting.

According to IBIS World, the consulting industry has grown an average 5% every year since 2017 and is set to grow another 3% this year.

There a wide range of things you could have expertise on to start your consulting business, including marketing, advertising, and management/leadership.

You just have to craft a business model and get the word out.

Launch a paid newsletter.

According to the Information’s Creator Economy Database, U.S.-based creator startups brought in several billion dollars in funding in 2021. If you want to be a content creator, you can use a platform like Patreon or Substack to start publishing original work. Use social media marketing and an already-established following to drive people to your newsletter.

The good thing about starting your own business is that there is a lot of freedom in what you can do and how you do it. There are also a tons of free and easy-to-use tools to start and run your company. You have every opportunity to make your business unique and special to you, so choose a trending industry that you’re passionate about.

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By: Camryn Quick

Camryn Quick is an up-and-coming journalist currently based in New York City. Coming all the way from South Carolina, where she studied Mass Communications, she is finishing up her Masters in Journalism at the Craig Newmark Graduate School of Journalism, where she is specializing in print and concentrating on arts and culture reporting. While in school, she has covered the arts and culture beat for the Mott Haven Herald and Hunts Point Express in the South Bronx, mainly writing pieces about the arts-oriented businesses and nonprofits in the area. She has also reported for the NY City News Service, covering 2021 election day in the South Bronx.

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