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10 booming Business Ideas for 2023

As the world keeps changing, so do the ways you can start a new business. In this blog post, we'll talk about 10 business ideas that could be profitable in the year 2023. Each of these ideas, from online tutoring to affiliate marketing, has its own unique benefits, and just a disclaimer, does not guarantee success, unless you give it time and focus. You may consider other ideas here as only “jobs” but essentially, if you make them sustainable and build systems while doing it, you can make it your own business.


First, let's talk about identifying profitable business ideas. The key is to look for a problem first, one that you want to solve passionately. Once you have identified the problem, create a product or service that solves it. It's also important to determine your target audience, and it's even better if you yourself are part of the target audience as it makes it more relatable. Keep in mind that the following business ideas are not passive income and do not guarantee results. It's important to differentiate passive and active income, active income being when we're dealing with creating our own business.


I have arranged these ideas chronologically based on my personal experience in doing business since the start of the COVID-19 pandemic in 2020. I believe these business ideas belong in growing industries that emerged well and helped many people stay employed during and even post-pandemic.


1. Online Language Tutoring-English as Second Language


If you love teaching, then you might be interested with this. The number of people who want to learn English is going up, and online tutoring makes it easier than ever to start this kind of business. You will need to know a lot about the English language and have experience teaching it before you can start. Then, you can connect with possible students through a website or another platforms. This guide from Glassdoor listed the Top Companies hiring for tutor jobs. If English is not your thing, you can decide to teach other subjects like Mathematics, Science.

To grow this business, you can expand your services to include different languages and age groups. Additionally, you can offer group classes or corporate training services to reach a wider audience.


2. Virtual Assistance Services


As the number of people who work from home has grown, the number of people who need virtual assistants has also grown. You can do things like work as an online secretary, manage social media, or keep the books (as a bookkeeper). To get started, you'll need to decide about the services you're going to offer that can help business owners, busy professionals, and organizations, and of course, you need to have a good internet connection. Online marketplace platforms like Upwork , Onlinejobs.ph and Fiverr can help you find potential clients.


To grow this business, you can expand the services you offer and hire additional virtual assistants to handle more clients. Additionally, you can create a website or social media presence to promote your services and attract more clients.

Jam Blauta has FREE resources for you to start your journey in becoming a Virtual Assistant and earn from home. Access them here. Bloggy Mary, a VA Agency owner and a content creator, also shares tips and advice for aspiring work-from-home freelancers for FREE, as well!


Helping businesses grow by improving their sales through Facebook Ads is also an on-demand service. Learn for free how to do this by watching my full Facebook Ads tutorial. I also have an online Facebook Ads Course and a Free Ads Community if you decide to level up and get serious with this.


3. Reselling the goods of other businesses


In this type of business, you buy goods from other companies and sell them for a profit. The only caveat here is you need to keep the brand and not change it since you’re just the reseller. As you purchase more inventory, you can earn trust from those brands and be a distributor or a stockist. First, you'll need to find a brand that allows reselling and make sure you have enough money to buy inventory. Some brands allow consignment of inventory where you don’t need to pay upfront to have the items on hand. Then, you can sell the items to your network, relatives, and social media friends. You can also do Live-selling trending and proven way to gain sales through social media.


To grow this business, you can expand the product range you offer and diversify your sales channels. Additionally, you can consider offering wholesale prices for bulk orders to attract more business customers.


4. E-loading


This is basically selling electronic load, such as mobile phone credit or data load. This is now a necessity due to remote work and school that needs internet connection. You can start by buying a load wallet or reseller package from a major telco and selling it to your customers with an additional fee that will serve as your profit. You can maximize your profit potential by using Peddlr App that gives you up to 15% in rebates.


To grow this business, you can expand the range of services you offer and consider partnering with other businesses to reach a wider audience. Additionally, you can consider offering loyalty programs or discounts to retain customers.


5. Ecommerce


With the rise of online shopping, starting an ecommerce business has never been easier. You can sell a wide range of products through your own website or through existing marketplaces such as Shopee, Lazada, Tiktok Shop, and Amazon. To start, you will need to find a niche/focus, source products from a supplier, and create an account in these marketplaces or build your own website. With the right marketing strategy and customer service, an e-commerce business can be a profitable and sustainable venture.


Dropshipping still falls under the category of E-commerce, but its business model is somehow different. It involves promoting the products of other businesses, or source out can-be-rebranded products, without keeping any of the products in stock. To sell the products, you will need to find a supplier and make a website or use an existing marketplace. When a customer places an order, the supplier will send the product right to them.


To grow this business, you can expand the product range you offer and diversify your sales channels. Additionally, you can consider offering wholesale prices for bulk orders to attract more business customers.


Print-on-demand is a common example of this business model where it allows you to create a design and then have it printed on a variety of products such as t-shirts, bags, or mugs. You can then sell the products through your own website, shops, or through marketplaces such as Teespring.


Grow your e-commerce or dropshipping business through Facebook Ads. Learn for free how to do this by watching my full beginner-friendly Facebook Ads tutorial. I also have an online Facebook Ads Course and a Free Ads Community if you decide to level up and get serious with this.


6. Meal preparation or Food business


With more and more people using online food delivery services because they’re working from home, it's never been easier to start a meal preparation service or food business, in general. You can prepare meals for busy professionals, business owners, and other people who don’t have enough time to prepare their meals at home. To get started, you will need to make a menu and find a place to cook, you can even start at your own house, and learn in free cooking tutorials on YouTube. Then, you can partner with online apps that deliver food to reach more people like Foodpanda and Grab.

To grow this business, you can expand the menu offerings and consider catering for events or corporate clients. Additionally, you can partner with more online food delivery apps to reach a wider audience.


7. Content Creation


Creating content that builds a personal brand can be a good way to make money today. You can make videos, blog, a combination of both — “vlog,” or start a podcast about something you're interested in. The best known platform now that is generous to creators in terms of ad-earnings sharing is YouTube. But there are also other ways to earn in YouTube, this guide will help you. Tiktok is also a promising platform for people who want to build their own audience because of its high organic reach and increasing number of ways to monetize like Tiktok Shop, Tiktok Shop Affiliate, Live Coins, Subscriptions, and more to come.

To grow this business, you can expand the topics you cover and create different types of content such as videos or podcasts. Additionally, you can consider monetizing your content through affiliate marketing or sponsored content.


8. Affiliate marketing


With affiliate marketing, you promote the products of other businesses and get a cut of each sale. To get started, you'll need to find a product or service you love and join affiliate programs like in Shopee and Tiktok. Then, you can promote the product on your own website or through your own social media accounts. Tiktok Shop affiliates earn more or less 10% commission from every sale they help to generate.

To grow this business, you can expand the products or services you promote and create a website or social media presence to attract more customers. Additionally, you can consider offering a loyalty program or referral program to retain customers.


9. Your Current Business


If your current business is already making money, it is still a profitable business. Trends come and go, but if your current business is still serving customers and bringing in new ones in a profitable way, then keep going, stay focused, and make improvements as you go.

I shared here my 7 Strategies To Grow Your Business and to make it pandemic-proof. These strategies helped me grow my social enterprise, Bakás.


Bonus Tips

  1. Focus on your target audience: Knowing your target audience is crucial to growing and sustaining your business. Make sure you understand their needs, wants, and pain points, and tailor your products or services accordingly. By focusing on your target audience, you can create a loyal customer base and increase your chances of success.

  2. Build a strong online presence: With more and more people turning to the internet to find products and services, building a strong online presence is essential to growing and sustaining your business. This includes creating a website, optimizing it for search engines, and using social media to connect with potential customers.

  3. Continuously innovate and improve: In order to grow and sustain your business, it is important to continuously innovate and improve. This means staying up-to-date with the latest trends and technologies, and constantly seeking ways to improve your products or services. By continually innovating and improving, you can stay ahead of the competition and keep your business relevant.


Grow your current business by using Facebook Ads. Learn for free how to do this by watching my full beginner-friendly Facebook Ads tutorial. I also have an online Facebook Ads Course and a Free Ads Community if you decide to level up and get serious with this.

In conclusion, I hope you found this guide helpful in identifying potential business ideas for you this 2023. I encourage you to think about what possible business ideas you can try out this year.


As an aspiring business owner, it's important to not only focus on making a profit, but also consider the impact your business can have on your community. Social entrepreneurship, which involves using business strategies to solve social and environmental problems, is a great way to make a positive impact while also being profitable. So, consider not just the financial gain but also the social impact of your business. With some research and planning, you can create a business that benefits both you and society.



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