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The worldwide 5G wireless network infrastructure revenue will reach$4.2 billion in 2020, an 89 per cent increase from 2019 revenue of $2.2 billion, said research and advisory firm Gartner in a new report.

Additionally, Gartner forecasts in the report titled “Forecast: Communications Service Provider Operational Technology, Worldwide, 2017-2023, 2Q19 Update” that investments in 5G NRnetwork infrastructure will account for 6 per cent of the total wireless infrastructure revenue of communications service providers (CSPs) in 2019, and that this figure will reach 12 per cent in 2020.

“5G wireless network infrastructure revenue will nearly double between 2019 and 2020,” said Sylvain Fabre, senior research director at Gartner.

“For 5G deployments in 2019, CSPs are using non-stand-alone technology. This enables them to introduce 5G services that run more quickly, as 5G New Radio (NR) equipment can be rolled out alongside existing 4G core network infrastructure.”

In 2020, CSPs will roll out stand-alone5G technology, which will require 5G NR equipment and a 5G core network. This will lower costs for CSPs and improve performance for users.

5G rollout will accelerate through 2020

5G services will launch in many major cities in 2019 and 2020. Services have already begun in the U.S., South Korea and some European countries, including Switzerland, Finland and the U.K. CSPs in Canada, France, Germany, Hong Kong, Spain, Sweden, Qatar and the United Arab Emirates have announced plans to accelerate 5G network building through 2020.

As a result, Gartner estimates that7 per cent of CSPs worldwide have already deployed 5G infrastructure in their networks.

CSPs will increasingly aim5G services at enterprises

Although consumers represent the main segment driving 5G development, CSPs will increasingly aim 5G services at enterprises. 5G networks are expected to expand the mobile ecosystem to cover new industries, such as the smart factory, autonomous transportation, remote healthcare, agriculture and retail sectors, as well as enable private networks for industrial users.

Equipment vendors view private networks for industrial users as a market segment with significant potential. “It’s still early days for the 5G private-network opportunity, but vendors, regulators and standards bodies have preparations in place,” said Fabre.

Germany has set aside the 3.7GHz band for private networks, and Japan is reserving the 4.5GHz and 28GHz for the same. Ericsson aims to deliver solutions via CSPs in order to build private networks with high levels of reliability and performance and secure communications. Nokia has developed a portfolio to enable large industrial organizations to invest directly in their own private networks.

“National 5G coverage will not occur as quickly as with past generations of wireless infrastructure,” said Fabre.

“To maintain average performance standards as 5G is built out, CSPs will need to undertake targeted strategic improvements to their 4G legacy layer, by upgrading 4G infrastructure around 5G areas of coverage.

“A less robust 4G legacy layer adjoining 5G cells could lead to real or perceived performance issues as users move from 5G to4G/LTE Advanced Pro. This issue will be most pronounced from 2019 through 2021, a period when 5G coverage will be focused on hot spots and areas of high population density,” he added.

source: zawya

The UAE has ranked first in the Arab region according to the 2019 Government Electronic and Mobile Services, GEMS, Maturity Index.

Issued by the United Nations Economic and Social Commission for Western Asia, ESCWA, the indicator is a measuring tool of progress at the national level in achieving transition to digital services. It was carried out across 13 countries including, the UAE, Saudi Arabia, Syria, Oman, Palestine, Iraq, and Lebanon, amongst others.

The GEMS Maturity Index is measured across three sub-indices - Service Availability and Sophistication, Service Usage and Satisfaction, and Public Outreach.

According to the ESCWA report, the UAE achieved a 90 percent score in the 'Service Availability and Sophistication' category. This category uses various metrics to provide insights on what government services are available online or via mobile applications, and also measures accessibilty of government data via these channels.

Despite scoring 79 percent in the 'Public Outreach' category -- which determines what governments have done to make citizens aware of digital services in vital sectors -- the UAE scored 51 percent in the 'Service Usage and Satisfaction' index. The latter measures how frequestn government digital services are used, as well as end-user satisfaction with the digital service.

The GEMS index is measured across 84 core services. According to ESCWA, these services offer a fair representation of government services and illustrate the potential consequences if they are not provided effectively. Core services range across the health, education, work, transportation, tourism and social welfare sectors, among others.

Out of the 84 core services sectors, the GEMS Index report revealed that the UAE has a total of 70 that provide electronic services. It noted that e-Government services could be improved in the judicial and immigration services mechanisms -- each of which registered only two e-services provided within the country.

Commenting on the results, Hamad Obaid Al Mansoori, Telecommunications Regulatory Authority, TRA, Director-General, said, "Smart and advanced services are the key to customer happiness, therefore, we develop our government services in the UAE, inspired by the directives of our wise leadership, which emphasise on people as the goal and aim of the overall process of digital transformation."

"Achieving the first position in GEMS Maturity Index is the result of the collective efforts of the UAE Government towards full digital transformation," he added.

The Index allows to track the progress in the transition to e-channels for government service provision, by annual comparison of the national performance.

Salem Al Housani, Acting Deputy Director-General for Information an e-Government Sector, said, "This achievement comes one year after announcing the TRA as the entity responsible for smart government and digital transformation of the UAE’s model of digital government maturity."

"The UAE model of digital government maturity is a unified reference for electronic/digital government in the UAE, which guides the work on the various pillars of digital transformation, and measures the capability to create a digitally mature government and maintain its stability. TRA has launched the Digital Government Maturity Model to achieve the National OSI, and to reach the first position globally in OSI," he added.

According to the TRA, the UAE Government provides about 3,730 federal and local online services through its official portal. It also provides more than 270 procedural services at the federal level.

source: wam

The UAE offers international business opportunities across numerous sectors– from tourism to technology

Over the last 40 years, the UAE has successfully diversified its economy to reduce its reliance on the energy industry. As a result, the nation now offers international business opportunities across numerous sectors– from tourism to technology. 

The government continues with its positive efforts in this area, including an increasing number of incentives designed to attract professionals and independent business people from all over the world and support smaller enterprises. 

These include:

  • Allowing 100% foreign-owned businesses
  • Offering extended visas for entrepreneurs
  • Attracting tech businesses to the UAE
  • Providing funding and support for smaller businesses
  • Creating a favorable environment for living and working

So, let’s look in detail at these five ways the UAE government encourages entrepreneurs to open a company here.

Allowing 100% foreign-owned businesses
In May 2019, the UAE government announced it would soon be possible for foreign entrepreneurs to be 100% shareholders in a locally incorporated business. Total foreign ownership was previously only permitted in the UAE’s free zones, meaning businesses incorporated ‘onshore’ had to be 51% locally owned.

This change will now give anyone looking to start a business, or already operating businesses in other countries, the opportunity to get easier access to the UAE. As a result, the playing field for international entrepreneurs looks even more attractive, particularly when paired alongside other developments. 

Offering extended visas for entrepreneurs
In November 2018, the UAE government began actively issuing five-year visas to entrepreneurs looking to set up in the country.
Eligible candidates for the five-year entrepreneur visa must have a business with a minimum capital of AED 500,000 or the approval of an accredited business incubator in the country (such as Hub 71 – more on that below).

In May 2019 the UAE brought in a new system for five- and ten-year residency visas, enabling outstanding non-UAE investors and specialists to live, work and study here without a national sponsor. The visa can be renewed if the holder’s circumstances remain positive. These five- and ten-year visas require investments of AED 5 million and AED 10 million respectively. There are currently 125 business areas that UAE-based expats can operate in without the requirement of a local sponsor. 

With the introduction of the Gold Card visa in May 2019, the next best thing to permanent residency is now available to the top tier of investors, entrepreneurs, chief executives, scientists, and outstanding students. The visa is reviewed every ten years, and, unlike other visa holders, Gold Card residents can live outside the country for a period of more than six consecutive months.
These developments are seen as a way of making it even more attractive for the international business community to work in the UAE. For those looking to get started in the UAE, whether you’re already living and working here or coming from abroad, having a long-term visa offers both stability and opportunity.

Attracting tech businesses to the UAE
In many parts of the world, the terms ‘entrepreneur’ and ‘startup’ are synonymous with technology. While not traditionally a tech hub in the same way as San Francisco, the UAE is making some strategic moves to change this.

The UAE government announced the creation of a new technology space, Hub 71, earlier this year. Based in Abu Dhabi, Hub 71 is a joint partnership with Microsoft. The fact the government has also earmarked AED500 million in investment funds as part of the overall initiative is further evidence of the UAE’s commitment to attracting international tech talent.

Coupled with its ambitious Government Accelerators’ program which includes Ghadan 21, a three-year development plan worth AED50 billon, all of these efforts make it pretty clear that the UAE government wants to create an even more thriving tech scene here. 

Providing funding and support for smaller businesses
Given the leaps and bounds being made in providing help and support to entrepreneurs and startups, it’s no surprise that the UAE ranks highly for online access to administrative and government services. To make things easier for businesses, it was recently announced that 5% of government capital projects will be allocated to small and medium enterprises (SMEs). This comes as part of a drive to encourage them to enter into major projects contracts with government agencies and form alliances to compete for government projects.

Currently aimed at Dubai-based SMEs, this move will allow them to receive contracts for projects worth up to AED400 million. Also, in order to provide SMEs with greater liquidity, those working on UAE government projects will now be paid within 30 days, according to recent news. Previously, public sector project payments were paid within a 90 day period. In addition, in the run-up to next year’s Expo 2020, the Dubai government has earmarked 20% of all related contracts to SMEs.

Creating a favorable environment for living and working 
Weather aside, there are so many reasons why the UAE is an attractive place for entrepreneurs to live and work. In many cases, it’s due to the tireless efforts of the government here to make it so.

According to an expat study, the UAE ranks 25th in the world for quality of life. It also takes the number nine spot for safety and security– making it an attractive location for entrepreneurs with families. It helps that visas for spouses and offspring are also easy to obtain once the main sponsor is accepted.

From a commercial perspective, the UAE is ranked 11th in the world for overall ease of doing business. Plus, there’s no personal tax, corporation tax, or any requirement to submit returns for the vast majority of businesses. This certainly reduces the operational burden of running a company here.

The UAE has a strong tradition of encouraging talented individuals to come here to live and work. However, looking at these recent developments, it’s increasingly evident that the government is now keen to attract independent entrepreneurs from a range of disciplines.

As a result, those with the drive and tenacity to grow a business from scratch here in the UAE are poised to benefit considerably. Entrepreneurs who are able to tap into these government-led initiatives, programs, and resources will have many options available to them. The growing support network provided by these new initiatives, and the communities they foster, will no doubt strengthen the overall startup ecosystem in the UAE and continue to attract entrepreneurs here for years to come.

Source:Entrepreneurntrepreneur

The pull of self-employment is as strong as ever in the region, according to a recent report by Middle East jobs site Bayt.com and global research firm YouGov.

In Bayt.com’s survey, Entrepreneurship in the Middle East and North Africa 2019, in the UAE some 69 per cent of respondents said they want to quit their current job and be their own boss instead. 54 per cent cited freedom over their work-life balance as the reason behind their thinking, while 42 per cent of them said they aimed to find personal fulfillment.

What’s more, some 73 per cent admitted that they are currently thinking of starting a business, while only 7 per cent say they have never thought of start- ing their own business.

Looking at the wider MENA region, for those who had already made the leap into entrepreneurship, 33 per cent said they left their previous jobs in order to increase their income, while 27 per cent said they wanted to do something they loved, and 25 per cent said they had a great business idea or concept.

The most appealing industries for prospective entrepreneurs were found to be IT / internet / e-commerce (10 per cent), commerce / trade / retail (9 per cent), consumer goods / FMCG (8 per cent), and real estate/ construction/ property development (8 per cent).

The report was published shortly after recruitment firm Robert Walters shared their own new research, which showed 73 per cent of professionals in the Middle East have left a job because they disliked the company’s culture. Some 82 per cent said they have previously worked for a company where they disliked the company culture. Both statistics suggest a further reason the number of would-be entrepreneurs is so high.

Bayt.com’s report also shows that the main concern of respondents while setting up their own business would be procuring finances to start (61 per cent), and the uncertainty of profit or income (41 per cent).

These concerns haven’t stopped increased numbers of people opening businesses – at least in Dubai, where the number of new business licenses in the first four months of 2019 grew by 35 per cent compared to the same period in 2018. The emirate’s Department of Economic Development issued 9,489 new licenses between January and April.

Start-ups and SMEs have long been the backbone of GCC economies, with SMEs making up around 98 per cent of business in the UAE, contributing approximately 53 per cent of gross domestic product (GFP). Under the country’s Vision 2021 plans, the government is seeking to increase this contribution to 60 percent by 2021.

Earlier this year, as part of the UAE’s bid to improve ease of doing business, the Federal Authority for Identity and Citizenship started issuing five-year residency visas to entrepreneurs – a move that drew more than 6,000 applications. It’s one of a series of moves that aim to improve opportunities for the wider SME community.

Another is Dubai’s recent package of initiatives by the emirate’s Department of Finance, announced in March. These initiatives include paying the dues of SMEs that supply services and goods to government agencies sooner, reducing the value of primary insurance for SMEs, cutting ‘performance insurance’ rates, calling for 5 per cent of government capital projects to be allocated to SMEs, and seeing projects worth Dhs1bn allocated to public-private partnerships.

Saudi Arabia has also striven to lay more accommodating foundations for entrepreneurs, such as 2018’s launch of an entrepreneur licence that allows new companies to benefit from a range of SME services and incentives. At April’s World Economic Forum, the kingdom’s energy minister Khalid Al Falih told delegates that Saudi’s start-up scene is “moving faster than anyone can imagine” and will create hundreds of thousands of jobs in the coming years.

“I predict that by 2030, companies that we don’t know today will be among the top 20 or 30 companies in Saudi Arabia. They will be driven by innovation, they will be driven by young people, they will be driven by women,” he added.

Backed by public sector support, those 69 per cent of people cited by Bayt.com’s survey are surely in as strong a position as ever to realise success should they take the step into the world of entrepreneurship.

source: gulfbusiness

(باللغة العربية)  

The main objective of the digital transformation process developed in the vision of the Kingdom of 2030 is to move the Saudi economy from the state of economic activity based on oil revenues mainly to the state of economic activity, which is characterized by diversity in sources of income and which ensures sustainable economic development and reduction of leaks in Capital and services abroad The estimated amount of money spent on medical services paid by Saudis abroad is estimated at SR 2 billion (540 million dollars). In the education sector, Saudis spend about 15 billion riyals ($ 4 billion) abroad and in foreign tourism. To about 30.5 billion riyals ($ 8.1 billion), while the leakages in the capital invested is estimated at about 312 billion riyals ($ 84 billion) in the year 2018 only.

   The Digital Transformation Plan aims to enable the realization of the vision of 2030 by moving to a digital society based on interaction, exchange of experiences, biographies and a digital economy that creates an environment conducive to entrepreneurship, new functions and a digital government based on data sharing and digital services.

 

Transformation strategy

The strategy of digital transformation is based on the transformation of the digital world and work in this phase on four axes focused in four sectors, education, health, electronic commerce and smart cities, through the establishment of digital units of the concerned ministries, and highlights the progress in the process of digitization through the achievement of many achievements, the most important is the virtual school experience and the smart classrooms in the education sector, consulting and health services remotely in the health sector, which provides all citizens the ability to get medical consultations for three times a month for free via Smartphone applications. In addition, a number of smart city applications have been activated such as car parking, light signals and intelligent waste management in a number of Saudi cities. In terms of e-commerce, the digital and legal environment is being developed to expand the size of the electronic market in the Kingdom. To provide greater transparency and reliability in e-commerce exchanges. The development and support of the e-commerce environment has played an important role in promoting the growth of this sector. The Kingdom witnessed a remarkable development in the volume of e-commerce, The number of electronic stores registered in the Kingdom reached 25501 electronic stores in 2018, which indicates the growing importance of this sector, which coincides with the rise in the number of Internet users in Saudi Arabia, which reached 88% of the total population The development of the legal and digital environment in Saudi Arabia was reflected in an advanced ranking in the United Nations e-commerce and online shopping index, particularly between companies and consumers, ranking 52 out of the 151 countries surveyed, indicating to some extent the will of the relevant policies to develop this evolution Important and vital sector.

Investing in digital transformation

The process of digital transformation necessitates the necessity of quality equipment and in huge quantities. It also requires large investments in infrastructure projects and pioneering ideas that contribute to the digital transformation process through smart and innovative solutions. This opens the door for entrepreneurs and entrepreneurs to establish their own businesses and make profitable investments by keeping pace with the transformation process. For example, in the field of digital transformation, the Saudi government has contracted a $ 1.6 billion ($ 420 million) smart board supply contract with the Education Technology Development Company to support the education sector and smart classrooms, Stamps for electronic ones in Saudi schools, and we can imagine the electronic equipment needed for all Saudi schools and the size of applications "and later universities" to carry out the process of digital transformation, a process for quite some time and require huge investments. The same applies to Smart City projects and the health sector in the Kingdom.

يكمن الهدف الرئيسي من عملية التحول الرقمي التي تم اعدادها في اطار رؤية المملكة لعام 2030 يكمن في نقل الاقتصاد السعودي من حالة النشاط الاقتصادي القائم على الريوع النفطية بشكل اساسي الى حالة النشاط اقتصادي الذي يتسم بالتنوع في مصادر الدخول و الذي يكفل تحقيق التنمية الاقتصادية المستدامة وتقليص التسربات في حركة رؤوس الأموال والخدمات الى الخارج حيث تقدر الأموال المنفقة على الخدمات الطبية التي يدفعها السعوديين في الخارج بحوالي 2 مليار ريال (540) مليون دولار، وفي قطاع التعليم ينفق السعوديين حوالي 15 مليار ريال (4 مليار دولار) في الخارج وفي السياحة الخارجية تصل الى نحو 30.5 مليار ريال (8.1 مليار دولار) ،اما التسربات في رؤوس الأموال المستثمرة فتقدر بحوالي 312 مليار ريال (84 مليار دولار) وذلك في عام 2018 فقط.

إذن تهدف خطة التحول الرقمي الى تمكين تحقيق رؤية عام 2030 عبر الانتقال الى مجتمع رقمي مبني على التفاعل وتبادلات الخبرات والبيات واقتصاد رقمي يخلق البيئة الملائمة لريادة الاعمال ووظائف جديدة وحكومة رقمية مبنية على مشاركة البيانات وتوفير الخدمات الرقمية الشاملة.

استراتيجية التحول

ان استراتيجية التحول الرقمي بنيت على أساس احداث التحول الرقمي الشامل ويتم العمل في هذه المرحلة على أربعة محاور تتركز في أربعة قطاعات وهي التعليم والصحة والتجارة الالكترونية والمدن الذكية وذلك عبر تأسيس الوحدات الرقمية التابعة للوزارات المعنية وتبرز مظاهر التقدم في عملية التحول الرقمي من خلال تحقيق العديد من الإنجازات لعل أهمها هو تجربة المدرسة الافتراضية والفصول الذكية في قطاع التعليم والاستشارات والخدمات الصحية عن بعد في القطاع الصحي والذي يؤمن لجميع المواطنين القدرة على الحصول على الاستشارات الطبية لثلاث مرات في الشهر مجاناً عبر تطبيقات الهواتف الذكية، كما وتم تفعيل عدد كبير من تطبيقات المدن الذكية كمواقف السيارات والاشارات الضوئية وإدارة النفايات الذكية في عدد من المدن السعودية، اما على صعيد التجارة الالكترونية فيتم العمل تطوير البيئة الرقمية والقانونية اللازمة لتوسيع حجم سوق الالكترونية في المملكة، فصدر مؤخرا قانون ينظم عمل التجارة الالكترونية عبر توفير المزيد من الشفافية والموثوقية في التبادلات التجارية الإلكترونية، ولقد لعب تطوير ودعم بيئة عمل التجارة الالكترونية دوراً مهماً في تعزيز نمو هذا القطاع فشهدت المملكة تطوراً ملحوظاً في حجم التجارة الإلكترونية إذ بلغ حجم التجارة الإلكترونية في عام 2018 حوالي 9 مليار دولاراً كما بلغ عدد المتاجر الإلكترونية المسجلة رسمياً في المملكة 25501 متجر إلكتروني، الامر الذي يشير إلى تعاظم أهمية هذا القطاع، الذي يتزامن صعوده مع ارتفاع عدد مستخدمي الانترنت في سعودية الذي وصل الى معدل 88% من اجمالي عدد السكان، ولقد انعكست تطوير البيئة القانونية والرقمية في سعودية في حصولها على ترتيب متقدم في مؤشر الأمم المتحدة للتجارة الإلكترونية والتسوق عبر الإنترنت لاسيما بين الشركات والمستهلكين اذ حصلت على الترتيب 52 من بين 151 دولة ممن شملهم التقرير وهو ما يدل الى حدى ما على نجاعة السياسات المعنية بتطوير هذا القطاع الحيوي والهام.

الاستثمار في التحول الرقمي

ان عملية التحول الرقمي تستدعي بالضرورة تجهيزات نوعية وبكميات هائلة كما تستلزم استثمارات كبيرة في مشاريع البنية التحتية و أفكار ريادية تساهم في عملية التحول الرقمي عبر الحلول الذكية والمبتكرة ما يفتح الباب واسعاً امام رواد ورجال الاعمال الى تأسيس مشاريعهم الخاصة وتحقيق استثمارات مربحة من خلال مواكبة عملية التحول الرقمي في المملكة، فعلى سبيل المثال تعاقدت الحكومة السعودية، وفي اطار التحول الرقمي، على عقد لتوريد ألواح ذكية مع شركة "تطوير لتقنيات التعليم" بقيمة 1,6 مليار ريال (420 مليون دولار أميركي ) لدعم قطاع التعليم والفصول الذكية، واستبدال الكتب الورقية بأُخرى إلكترونية في المدارس السعودية، ولنا أن نتخيل حجم التجهيزات الإلكترونية والتطبيقات اللازمة لكل المدارس السعودية-ولاحقاً الجامعات- لإجراء عملية التحول الرقمي وهي عملية ليست بقصيرة وتستلزم استثمارات ضخمة، الأمر ذاته ينطبق على مشروعات المدن الذكية وقطاع الصحة في المملكة.

The Royal Decrees promulgating laws on bankruptcy, public-private partnership, privatisation and foreign capital investment will create a favourable regulatory environment for investment, in line with the future vision of the sultanate.

This was communicated by the Government Communication Center (GCC) in a statement issued in cooperation with the Ministry of Finance, the Ministry of Commerce and Industry and the Public Authority for Investment Promotion & Export Development (Ithraa). 'The Royal Decrees are part of the government's efforts to promote competitiveness of the national economy globally. Furthermore, these laws reflect the government's desire for the private sector to play a role in Oman's development and create better job opportunities for the national workforce,' GCC stated.

With world-class infrastructure, such as roads, ports, airports and special economic zones already in place coupled with sultanate's growing reputation as a logistics hub, the new regulatory environment is bound to get the attention of foreign investors, expediting the overall development in the country.

Foreign Capital Investment Law

Some of the objectives of the law, as underlined by GCC, include promoting the sultanate's position as an investment destination capable of attracting

foreign capital, enhance competitiveness in line with international indicators through the legislative system that governs business. Also, the aim is to streamline procedures and issue permits necessary for foreign investment within the country through the Investment Services Centre of the Ministry of Commerce and Industry.

The law will help offer incentives to attract foreign investment and grant the investor necessary guarantees for the project. 'For example, provide the foreign investment project with all advantages, incentives and guarantees granted to the national project in accordance with the applicable laws in the sultanate. A decision by the Council of Ministers may decide preferential treatment for foreign investors in accordance with the reciprocity principle,' it said.

Land and real estate required for the investment project may be allocated by way of a long-term lease or usufruct over the same, without being subject to the provisions of Royal Decree 5/81 regulating usufruct over Oman's land and the Land Law in accordance with the rules and provisions set out by the regulations after coordination with the relevant authorities.

Public-Private Partnership Law

The law will improve the national economy by encouraging the private sector to invest in infrastructure projects and public services, as well as contribute in the diversification of national income sources.

It will help lay out a regulatory framework to manage the process of public-private partnership in a transparent manner as well as improve the quality of public services and reduce their establishment and operation costs, which contributes to relieving the financial burden on the state's budget.

The law lays down all the parameters for establishing, launching and awarding public-private partnership projects.

Privatisation Law

The law aims to encourage the implementation of government policies relating to expanding the role of the private sector in ownership and management of various economic activities.

The GCC expects that it will also encourage attracting investment, expertise, technology and knowledge as well as raise resource management efficiency, improve services and create high-quality job opportunities.

Bankruptcy Law

The law will create a legislative and legal framework that promotes the business environment by restructuring the procedures that enable business people to overcome the debt stage.

It will also cover foreign companies operating in the sultanate as well as support distressed businesses to revive and resume their economic activity.

It will help set a 'pre-preventive' composition stage called 'Restructuring' through which the concerned parties cooperate with distressed business people aiming to support them to re-structure their business as well as encourage investment and entrepreneurship.

Source: menafn

Trying to do an investment check on digital transformation projects? 5 expert tips

5 digital transformation ROI best practices

In order to set up a holistic view of digital transformation performance, IT leaders can take a number of actions:

Set initial metrics in advance

In many cases, these metrics will be hypothetical, and that’s okay. “The value of an investment will only be proven by the business outcome; there is no other measure,” says Prashant Kelker, partner with technology research and advisory firm ISG. “The challenge is that business outcomes cannot be predicted; they have to be guessed as a digital transformation progresses. This means a fundamental pivot from a large transformation mentality to an approach focused on continuous business outcomes.”

Develop micro-metrics for agile experiments

“Enterprises should not focus on the big change, but instead the step-by-step process,” Kelker says. “This forces companies to change from one large plan and one large target architecture to having to manage dozens of microplans. This protects investments because you are constantly either getting immediate business value or killing things that don’t work.”

However, these discrete efforts “should be evaluated across integrated processes from an investment perspective to ensure ROI,” says Andrew Alpert, managing director with Pace Harmon.

Incorporate business outcomes

“A look at the total value will include impact in three areas,” says Edwards. IT leaders should incorporate strategic impact (e.g., revenue growth, lifetime customer value, time to market), operational impact (e.g., productivity improvements, scale, operational efficiencies), and cost impact.

Look beyond cost savings

“While the business cases for technology projects have most recently been heavily focused on cost savings, organizations that make strategic and operational impact their objective consistently achieve higher returns across all dimensions,” says Edwards. Be sure to include those in the digital transformation metrics.

Don’t forget to include the digital transformation of IT itself. “Digital transformation initiatives should help identify new possible requirements for technology vendor relationships based on new available capabilities, such as agile collaboration with providers driving faster delivery times,” says Caplan.

Use metrics to review and adjust regularly

“On a periodic basis, perhaps quarterly, a check should be made to determine whether there are signs that [projects are] having the type of impact anticipated or [are] contributing in an unintended manner,” Edwards advises. When a project is falling short, IT can make changes. “If business requirements have changed, sufficient learning has been gleaned from the project, or it is determined the project will not deliver results, the project may be terminated.” 

Source: enterprisersproject

Rock Health calculated there was $29.4 billion in capital invested in digital health startups since 2011 that were still waiting on returns and examined the two routes companies have to return liquidity to investors: IPOs and M&A. 

Concern about slowing investment in the digital health earlier this year has largely abated as the industry looks likely to meet or exceed 2018’s record-breaking funding haul, according to a report from Rock Health.

Digital health companies raised a total of $4.2 billion through the first half of 2019, which projected out for the rest of the year would reach $8.4 billion, $200 million more than 2018’s $8.2 billion figure.

The volume of deals has dropped slightly – with $100 million-plus investment deals making up around 30 percent of the deals in 2019 – and largely driving the investment trend. Average deal size is also up to $23.1 million, compared to $21.9 million in 2018 and $15.9 million in 2017.

 

Rock Health calculated there was $29.4 billion in capital invested in digital health startups since 2011 that were still waiting on returns and examined the two routes companies have to return liquidity to investors: IPOs and M&A.

Much attention has been on the companies testing the public markets this year after a digital health IPO drought that has lasted since 2016. According to Rock Health, IPO companies in digital health raised an average of $199 million and went public at an average age of 9.4 years.

Mountain View, California-based Livongo Health was the latest digital health company filing to go public, with a planned listing on the Nasdaq later this year. The chronic disease management company joins Phreesia and Health Catalyst as part of the raft of healthcare technology companies planning to go public in 2019.

Nashville-based Change Healthcare had their initial public offering last week, trading at $13 a share, below the $16 to $19 range that the company had targeted.

The success of these companies’ efforts will likely signal the near-term viability of IPOs as an exit route for the industry. A few of the IPO potential companies identified by Rock Health are telemedicine company American Well, genetic testing company 23andMe and cardiac imaging company Heartflow.

During the IPO drought, the exit opportunity that would offer liquidity to investors was M&A, with 120 and 110 exits respectively for 2017 and 2018.

This year’s M&A activity has slowed somewhat. There have only been 43 acquisitions in the first half of 2019, if that number is projected out, deal flow would be 25 percent lower than in the past couple of years.

While other digital health companies still remain the most active acquirers in the space, Rock Health spotlights other categories like consumer technology companies and non-healthcare companies looking to enter the industry through M&A like Amazon, J.P. Morgan and Best Buy.

Source: medcitynews

By Maurray Newlands

 

Today, many people today are looking to leave the daily grind for something that feeds their passion.

People do not want to retire at the age of 60 (or older) to look back on life and feel they have wasted it.

Luckily, it is now increasingly easy to start a business from scratch without spending a fortune. Below, I've highlighted 75 varied business ideas you can start cheaply from the comfort of your own home.

Some of the business ideas listed require nothing more than an internet connection, while others demand a level of licensing or a specific set of vocational skills...the choice is yours!

 

1.Making Chatbots 

I am quoted on entrepreneur.com as, "ChatBot expert Murray Newlands commented that, 'Where 10 years ago every company needed a website and five years ago every company needed an app, now every company needs to embrace messaging with AI and chatbots.'" That brings opportunity and jobs. You can learn to make them for free without coding for companies.

Chatbots are in, and it has reached the point where every business needs one. Chatbots have become a huge opportunity for companies to engage with their customers, gather data, and improve their marketing and customer care efforts.

You can start your own chatbot creation business easily and quickly without needing to code. I created the free to use tool Chattypeople.com, but there are lots of others out there. All you need to do is:

  • Read about bots and their functions
  • Create an account 
  • Learn about the company who needs a chatbot
  • Create their bot through 
  • Launch it through Facebook Messenger
  • No coding or long courses needed

The platform is great, as it:

  • Works with Facebook Messenger and comments
  • Can push promotions to customers on demand
  • Recognizes variations on trigger words
  • Can process orders from Facebook
  • Integrates with all main payment processing platforms

 

2. Bookkeeping Services

Are you great with numbers and want to work from the comfort of home? To become a freelance bookkeeper, you do not need to be a Certified Public Accountant, but you do need to be good with numbers. There are lots of free to use online invoicing tools such as Sighted.com and online payments tools like Due.com. Some services you could offer include:

  • Creating balance sheets
  • Providing income statements
  • Creating various monthly, quarterly, or annual financial reports

 

3.Personal or Virtual Assistant

Although personal and virtual assistant jobs do not sound glamorous, they do pay well.

If you have already held this job in an office, you will find the digital version allows for a lot more freedom. Use services like Upwork.com to find clients. You can choose:

  • Your clients
  • Your hours
  • Your hourly, daily, or monthly pay rate

 

4. Marketing Services

Marketing does involve a certain level of background knowledge. That said, if you are not experienced, investing in an online course is not only cheap but will equip you with the adequate tools to start a solo digital marketing agency you could expand in the future. There are lots of new marketing fields opening up such as influencer marketing.

Companies are always looking for freelancers able to provide marketing copy that is SEO-friendly and can transform website visitors into leads and, eventually, customers. In addition to offering optimized copy, you could offer to upload the content to their websites and improve their SEO further with:

  • Meta descriptions
  • The right titles
  • The correct keyword density
  • Tags and categories
  • Relevant images with SEO captions and alt tags

 

5. Social Media Consultant

Who doesn’t love Facebook, Twitter, and Instagram? Fancy yourself to be a bit of whiz, but don’t have any formal training? Twitter and Google, among other platforms, offer complete professional courses with recognized certifications that require little to no money. Social media is also a business that has unlimited potential with a client base that can span across the world. This trend is unlikely to die soon, if ever, and new platforms are being released every year, making the possibilities for expansion limitless. You can use social media management tools to make your job easy.

 

6. Affiliate Marketing

Affiliate marketing is extremely easy to get into and involves you earning a commission by promoting other companies' products and services. Basically, you choose a product you like, promote it, and make a profit on each sale that stems from your marketing efforts. An affiliate marketing business is especially easy to start if:

  • You have a blog or website of your own
  • You can prove your success through visitor statistics
  • You have already successfully undertaken affiliate marketing and can show this to your potential clients

 

7. Tester or Reviewer

Individuals or startups often look for people to review their products to encourage others to buy them. You can either get started with a profile on freelancing websites or approach companies directly, offering them a review in exchange for a monetary reward by becoming an influencer.

Even better, if you have your own website or blog, you could write entire posts about their products, thus allowing you to charge more money in the long run and build a portfolio with tangible results to show future clients.

 

8. Secretarial Services

Similar to virtual assisting, remote secretarial services require little to no experience. All you need is:

  • Strong organizational skills
  • Good communication skills
  • Good time management
  • A high level of autonomy

Your day-to-day tasks as a freelancing secretary will typically include:

  • Booking meetings
  • Organizing calendars
  • Replying to emails
  • Putting together presentations
  • Answering phone calls

 

9. Online Dating Consultant

Have you got a way with words? Or have you found your Mr. or Mrs. Right and want to share how you got there? You can become someone's wingman or woman and help them find love by becoming an online dating consultant. This type of consulting comes with a large level of responsibility, as you will be guiding someone's love life. Daily tasks include:

  • Acting as an account manager on dating sites
  • Writing profiles
  • Offering telephone updates on their matchmaking status

 

10. Ebay Assistant or Seller

An Ebay assistant or seller is similar to being a marketing affiliate. The key difference is that instead of marketing the product, you are selling it directly to the customer. When selling for others on Ebay or any other platform, you will sell the product and keep a commission as compensation.

Unfortunately, this type of job comes with risks. Commonly, scam artists attract Ebay sellers and use fake shipping papers to convince them to send payments. Unfortunately, even if you are scammed, you will be held responsible for your customers not receiving their items. Always remember to:

  • Get to know the distributor
  • Keep all payments in your e-wallet until the customer confirms having received the parcel
  • Report any suspicious activity
  • Do not share any of your banking details

 

11. Application Developer

New applications are launched on a daily basis and if you believe you have the skills to create your own and a unique enough idea, you should do it! Aside from the fact that you will have to invest little to no money to get started, it is far less time consuming than the average 9 to 5. Once you have created your application, couple it with the right marketing strategy and you'll be making money in your sleep. The best part about developing applications is that you can do it from anywhere in the world.

 

12. Website Developer

We live in a digital world where every business needs a website to drive their traffic to in order to make sales. If you have the skills, you could enter an industry that will never die. You can also start small by creating websites on platforms such as Wordpress. If you want to take your web-building skills to the next level, you can learn the language of website creation through Codecademy.com, where you will be able to learn how to incorporate personalized:

  • Shopping carts
  • Product pages
  • Galleries
  • Blogs
  • Services pages
  • Feedback forms

 

13. Internet Security Consultant

Hacking, scamming, and viruses are just some of the security threats on the web today. If you know your stuff, you could make very good money consulting businesses, especially those who handle sensitive customer information and want to keep it as safe as possible.

 

14. Graphic Designer

Companies are always in search for branding that tells people about what they do. If you can follow company guidelines and customer needs, all you will need to get started is a computer and applications such as Photoshop or Illustrator. Types of media you will be responsible for creating include:

  • Logos
  • Fliers
  • Newsletters
  • Magazines
  • Information sheets
  • Letters
  • Advertisements

 

15. Desktop Publisher

Desktop publishers typically use publishing software to create:

  • Magazines
  • Books
  • Marketing newsletters
  • Other marketing materials

In order to offer a full service, you could also write the content or hire a content writer and create your own small team.

 

16. Designing Business Plans

Having a eureka moment is great, but it can be hard to put that idea down on paper in a way that will speak to a potential investor. If you have owned your own business in the past or earned a business degree, why not help those with a eureka moment start something they love? Plan your fee around the various packages you are prepared to offer your clients. You can either:

  • Create an electronic copy that your client can customize
  • Keep a copy on file and continue customizing it according to their needs
  • Create various templates that you can show your customers and how you can customize the templates for             them accordingly

 

17. Tax Consultant

Companies big and small pay good money to have their taxes prepared for them. It gives them a chance to focus on the everyday operations of their business. If you have the appropriate experience, you could set yourself up as a freelancer; however, by starting with a tax preparation franchise, you will receive courses, seminars and training.

 

18. Blogger or Vlogger

Are you an expert in a specific field? From travel, fashion, cooking, to DIY, and removal services, if you know how to do something particularly well, why not tell the world through a blog or vlog? All you will need is a computer and a good quality camera. You can make money by offering advertising space and reviews of products on your platform.

 

 

19. Informational Product Creator

Similar to blogging or vlogging, creating informational products is your chance to put your expertise in an e-book or some form of digital format and selling it to the online world. Find a niche that's not been overdone and start writing. You can sell your information piece on platforms such as Amazon Books.

 

20. Resume Writer

No matter the experience, there are very few people that enjoy or are good at writing their own resume. Individuals pay very good money to have their personal statements put on paper for them. It will cost you nothing to get setup and once you get the hang of it, you should be able to average a good hourly or daily pay rate.

 

21. Domain Name Buyer

As the name suggests, all you need to do is buy domain names you believe people will want and sell them for a profit. You will need to be able to:

  • Identify profitable domain names
  • Identify domain names that are memorable
  • Learn about SEO and keyword optimization

 

22. Flipping Websites

Flipping a website is the art of buying an already existing website, improving it, and selling it. With the right web development skills, it is a very easy and cheap trade to explore. That said, you need to be able to identify websites that have the potential for improvement.

 

23. Translator

Translating is one of the easiest and most profitable industries to delve into if you are proficient in more than one language. Sought out on a global scale, translators do not need any capital to get started and can earn a salary of $40,000 a year (minimum) depending on the size of the company you are hired by and the length of the contract they offer.

 

24. Financial Advisor

Although the number of people wanting to start their own business has grown, many still do not know how to organize themselves financially. Start by getting your Certified Financial Planner (CFP) certificate to show clients you are credible. On the other hand, if you already have the experience, you can start by advising individuals and then grow your empire to consult for larger organizations.

 

25. Editorial Services

An editorial services business is easy to start, requires no initial monetary investment, and has a huge potential for expansion. From small and large businesses to authors and students, your client base could be endless. You can offer a variety of services, some of which include:

  • Copywriting
  • Ghostwriting
  • Magazine article writing
  • Newspaper article writing
  • Web content writing
  • Proofreading
  • Editing
  • Indexing
  • Book writing

 

26. Online Photo Selling

If you are a professional photographer or just have a deep-rooted passion for it, you can make money from your pictures on photo selling websites. All you need to get started is a camera, preferably a digital SLR with a minimum of 8 megapixels, and a computer. Once you have established yourself on websites such as GettyImages.com and Flickr.com, you can setup your own website with a list of your watermarked images and their price per unit.

 

27. Meal Planning

There are loads of people who love food but don't have the first clue about what to buy. They are either not very confident in the kitchen, don't know the first thing about a balanced diet, or struggle with maintaining a budget. As a meal planner, you would:

  • Create a list of ingredients
  • Create step-by-step recipes for your customers to follow
  • Explain the nutritional value of the meals to educate your customers
  • Explain to them how they are saving money by sticking to your meal plans

 

 

28. Patient Advocacy Services

Patient advocacy services are extremely important to communities across the world. On a daily basis, you would be:

  • Helping people track down hospitals for paperwork
  • Gather bills for insurance companies
  • Argue cases with insurance companies

People in need of these services are most likely ill or grieving, leaving them fragile and often unable to defend themselves. It is important they have the right support during this time in their lives.

 

29. Ecommerce Store

If you have a great product, but no money to invest in a physical storefront, staff, and bills, why not set yourself up online? Aside from the lack of huge monetary investment and time commitment, the marketing opportunities online are endless. Also, although a storefront is great for branding purposes, it does limit the size and scope of your audience. By setting yourself up with an e-commerce store, you can:

  • Sell to anyone in the world
  • Have a store that is open 24/7 (meaning you literally make money in your sleep)
  • Run promotions easily, whenever you want
  • Cross-sell between your marketing and social media platforms and your website
  • Run marketing campaigns through Google and other platforms

 

30. Survey Taking

Although you won't get rich doing surveys online, you may make a steady income if you sign up to multiple sites. These surveys take barely any time at all to complete and can normally net you around $150+. Some of the most popular survey-taking platforms include:

  • MySurveys
  • InboxDollars
  • Global Test Market
  • EarningStation
  • Harris Poll

 

31. Video Production

There are a number of ways you can use videography to create your own home-based business. There are so many people wanting to become YouTube celebrities who don't have the skills to upload high-quality, well-edited videos. Other services you could offer include:

  • Vlog editing
  • Creating music videos
  • Voice-overs
  • Adverts

 

32. Sustainability Consultant

Businesses of all sizes are trying to find news ways to do their part for the environment by implementing greener practices. Unfortunately, many of the more eco-friendly options available today are also significantly more expensive, so business owners need someone like you who can advise them on how they can change their process without sacrificing their bottom line.

 

33. Call Center Representative

More companies are looking to hire call center representatives who are willing to work from home on customer care issues. All you need to get started is a computer and a phone line. Aside from the fact that you could earn a good base salary, you will not have any commuting expenses and can save money by cooking your meals at home.

 

34. Direct Sales Representative

The term "door-to-door sales" often puts off people, because all they picture is getting doors slammed in their faces on a daily basis. That said, by working for companies such as Avon, Mary Kay, and Tupperware in the right areas, you could host very civilized parties in your home, allowing you to make money while meeting new people.

 

35. Travel Planning

With all the booking platforms available online today, anyone can book a holiday from the comforts of their home. But with so many different factors to compare, it can be overwhelming. Some of these include:

  • Flights
  • Car rentals
  • Hotels
  • Restaurants
  • Tours
  • Activities

If you have strong organizational skills and the knack for finding a good bargain, you could offer these services to others who have less time on their hands. Find the deals for your customers and add your surcharge for your services.

 

36. Online Custom Tailoring 

People are increasingly conscientious about the way they look, and with that comes the need for tailored clothing. One size does not fit all, and businessmen and women, in particular, want to look the part when they go into the office every day. The custom clothing industry is still relatively untapped, so starting a business now will offer you a significant potential for growth in the future. In addition to having their pieces delivered directly to their homes, you can offer customization of:

  • Fabric
  • Patterns
  • Size
  • Fitting
  • Stitching
  • Lining

 

37. Currency Trading

Online currency trading is easier than ever thanks to the number of tutorial videos, online courses, and applications that offer step-by-step guides to becoming a currency trader. All you need is:

  • Technical skills
  • Fundamental analytical skills
  • A small amount of cash flow
  • A phone, tablet, or computer

 

38. Telemarketing Services

More and more companies are outsourcing their marketing efforts, and telemarketing is one of them. As a freelance telemarketer working from home, you will be setting appointments with customers and creating warm leads for companies. The amount you charge will depend on the size of the company you are working for, and the project they want to allocate you.

 

39. Referral Services

Are you the person who all your friends and family call when they're trying to find a good restaurant, lawyer, plumber or gardener? If that's the case and you love referring them to all the lovely businesses you know of in your neighborhood, you could start a business doing just that. You'll be able to work with individuals and businesses, helping customers find what they want, and businesses gain more clients. To get started, you will need to:

  • Gather a list of businesses you want on your referral lists
  • Sell them the benefits of being on your list
  • Place ads online and in the Yellow Pages to gain customers

 

40. Event and Project Planning

Event and project planning can be done remotely, but having a hands-on approach and offering your services in your local area will be more beneficial to you from both a quality control and monetary point of view. You can start this business from the comforts of your home and meet with clients in restaurants, cafes or at their office or home.

 

41. Professional Photography

Whether it is a wedding, family event, or a business' marketing materials, people pay good money for professional photography. Unless you feel the need to sign up for an online course, the only monetary investment you will have to make is for a camera. Establish your daily fee and remember to keep into account your travel expenses.

 

42. Tutoring

Have you worked as a teacher before? Are you proficient in a second language? Have you studied math, science, or any other subject? If so, you could tutor adults and children, provided you have the right paperwork for child protection reasons. It will cost you very little to get setup, and you can offer your services at people's homes.

 

43. Computer Trainer

There are a number of seniors wanting to learn how to use computers and the internet, meaning that if you are proficient in both Mac and PC, you could offer your services in your neighborhood. Be warned, most will not be as passionate about computers as you, so they will only want to learn basics, such as emailing and using an internet browser.

 

44. Property Manager

As a property manager, you will be responsible for ensuring your clients' properties are running smoothly. You will also be the primary contact for tenants and will be responsible for making sure the properties you manage are safe and well-maintained.

 

45. Home Inspector

This job may sound like it is just a matter of looking around people's homes, but it actually requires a high level of expertise. You will need to learn about the new products that are constantly appearing in the market and stay updated with any changing laws. Networking and building positive relationships with your local real estate agents will give you the best chance of success, as they will recommend your services to others in your area.

 

46. Courier Services

You may be thinking “that is what the mail room is for”, but in actuality, businesses in busy areas often use local courier services, as they can offer more flexible pickup and drop-off times. Because of the specific services you are offering, you will also be able to charge more.

 

47. Life Coaching or Mentoring

If you have a proven track record in a particular field, can prove past success, or have trained in matters of the mind, life coaching or mentorship could be for you. People, especially soon to be entrepreneurs, seek guidance through mentorship and life coaches. You can setup your services from the comforts of your home with no monetary investment.

 

48. Massage Therapist

The licensing to become a massage therapist varies according to the state in which you reside, but if you have a passion for health-related activities, you could take a masseuse course and set up a clinic from the comforts of your home. Once you have completed your course and gained your license, you will have to invest in a massage bed as well as the appropriate oils and massage products.

 

49. Personal Trainer

Fancy yourself as a bit of a fitness fanatic? Then why not channel that energy into a course where nutrition and the anatomy of the body are also covered? With this, you can train novices from the comforts of your home or through your local gym.

 

50. Personal Chef

As a personal chef, you will spend your days cooking for people who do not have the time to do so themselves but do have the money to pay someone to do it for them. If you want to stand out from the crowd, offer meal plans that suit various dietary requirements, such as:

  • Gluten-free, lactose-free, or egg-free meals
  • Vegan and vegetarian dishes
  • Meals for those with diseases, such as coeliac

 

51. Cleaning Services

Cleaning services are easy to offer and require no training. You can either:

  • Offer discounted services, provided they have the necessary cleaning products onsite
  • Offer a more expensive service that includes you bringing your own products

Also, you can take your business in various directions by targeting different clients. Possibilities include:

  • Cleaning offices or shops in the evenings
  • Cleaning restaurants or people's homes during the day
  • Providing morning housekeeping services for hotels

 

52. Dog Walker/Trainer/Groomer

In some places, dog walking alone can be a very profitable business. Those working from 9 to 5 either do not have time to walk their dogs before leaving the house or just prefer it if someone comes in to let them out of the house for some exercise. Also, dog walking businesses that offer additional services are becoming increasingly popular. Consider also offering:

  • Training
  • Grooming
  • Dogsitting

 

53. Packing Services

If you have an eye for the little details, a packing service business could be your calling. When someone moves out of their home, they pay for removal services to take their belongings from their old house to their new one. But the process of packing all their belongings into boxes in the first place is extremely time-consuming. Why not offer people your time to do this for them while they are at work or busy running errands?

 

54. Laundry Services

If you are looking for a way to make money at home without the need to learn new skills, home-based laundry services are easy to offer with the possibility for expansion in the future. The most complex part of the process will be establishing whether or not you need licensing to start this business from your home. This will depend on your location and the size to which you plan to grow your empire. Otherwise, all you need to do is:

  • Keep track of your sales, expenses, taxes, and general bookkeeping
  • Establish how much you will charge
  • Decide on how the payment process will take place (e.g., before or after you complete the service; in cash, or via card, bank transfer, etc.)
  • Create a website and other marketing materials to get your name out there

 

55. Caregiving

To become a caregiver, you will have to undergo professional training and acquire various certifications and health and safety diplomas. That said, if you've have cared for a parent, sibling, or friend in the past and feel this is something you want to pursue, it is a business you can set up cheaply. You can not only choose your clients but also your working hours. Daily tasks as a caregiver will vary; however, you will often be expected to:

  • Clean
  • Wash
  • Do laundry
  • Prepare meals
  • Take your patients outdoors for fresh air
  • Do their shopping
  • Potentially dress and feed them

 

56. Landlord or Bed and Breakfast

You do not have to own a huge building with multiple rooms to start your own bed and breakfast. If you have a nice, clean home with a spare room, why not advertise it? Websites such as Airbnb make it easy for people to rent out the spare rooms in their homes. You can even charge more by offering:

  • Food and beverages
  • City tours
  • Local experiences
  • Housekeeping services

By offering your customers something unique, you will find the experience gratifying and profitable.

 

Related: What 70 Airbnb Stays Can Teach Anyone About Running Any Business

 

57. Personal Concierge

You are probably thinking that being the concierge to the executive of a big company will be a piece of cake, think twice. Although you will make good money being someone's personal concierge, it is a very challenging job in which you will be expected to deliver what has been asked of you, on time, with a smile. That said, you will normally be paid very handsomely for your services.

 

58. Grocery Delivery Services

Big supermarkets do offer this service, but delivery prices are often very high or the food is warm or bruised when it arrives at the customer's home. If you own a large car, you could become people's personal shopper. Some people do not have time to run errands after a long day at work and others may not have the physical capacity to do so, so why not do it for them? You could also couple this service with others, such as:

  • Being a concierge
  • Offering cleaning services
  • Daily or weekly dog grooming, walking, and training services
  • Being a caregiver

 

59. Lawn Care and Gardening

Although you will only be able to mow lawns for a limited time of the year, gardening services span throughout the 12 months. You can set up your own business with services, such as:

  • Lawnmowing
  • Gardening
  • Raking
  • Snow removal
  • Herb farming

Herb farming can be offered as a service across most parts of the world. Whether you are in an urban or rural area, herb gardens take up very little space.

 

60. Babysitting Services

Babysitting may not sound like a profitable market to enter, but you'd be surprised how well you can get paid if you have the right experience, certifications and licenses. Although formal training is not required, this can teach you all the procedures in the case of any emergency. There are also a number of families offering service work as a:

  • Babysitter
  • Nanny
  • Tutor
  • Au pair

 

Related: 8 Tips for Anyone Starting a Child-Care Service

 

61. Childproofing Services

Childproofing is a trade that many do not think of these days. But every family with a newborn baby or small child wants to provide a safe home for them. There are so many areas of a home that can be dangerous, from sharp corners to stairs. A childproofing business is very cheap to start up, but you may be required to follow certain state regulations, depending on your location. To understand all the ins and outs of the industry, you may want to undertake an internship in the field before setting up shop.

 

62. Digital Media Conversion

Have you ever thought about what happens to all the old CDs and DVDs we used to use to listen to music and watch films? Well, the answer is, often nothing. For those who have only just started using the internet to download, purchase, and listen to music, their CDs are wasted. If you know how to transfer this media to a computer, you could be doing the tech-phobic and those with little time on their hands a serious favor. Offer your services on forums, social media or flyers. You may even end up with customers with more general tech needs on a long-term basis.

 

63. Personal Driver or Taxi Services

This is an especially easy business to start if you live in an urban area, as many businessmen and women prefer having a driver to go to and from work in order to make calls, schedule meetings, and generally work on the operational aspects of their companies during that time. On the other hand, if you are looking to start a business that is more like a taxi service, why not become an Uber driver? To become an Uber driver, you need:

  • A decent car
  • A clean driving record
  • A smartphone
  • To be 21 years or older
  • At least 3 years' driving experience
  • A background check

Some of the main benefits of being an Uber driver are:

  • You can create your own schedule
  • You don't have a real boss
  • You will benefit from “surge pricing” regularly
  • You'll meet new people every day

 

Related: 5 Lessons Learned From the World's Greatest Uber Driver

 

64. Hairdressing or Makeup Artist Services

If you have worked in a salon before or just know how to cut hair but do not have the capital to open your own business, you could start one from home. All you need to do is make sure you comply with all your state's requirements for opening a salon in your home. That said, once you've got yourself up and running, you could earn anywhere from $22,500 and up. You could also offer other beauty treatments, such as:

  • Hair coloring
  • Hair extensions
  • Manicure and pedicures
  • Makeup
  • Massages

 

65. Interior Designer

Both homeowners and business owners look for interior design and home decorating services in order to make the vision for their space come to life. Having a degree or certification will help you understand the different functions of a home or office, but it is not legally required in most places. You will be able to do most of your research from the comforts of your home, but you will need to get to know your client in order to understand how they want to use the space. Consider asking questions like:

  • Is it for adults or children, or both?
  • Does the space need to be pet-friendly?
  • What is the purpose of the room?

 

66. Tour Guide

Many tourists like visiting new places with a guide. It allows them to ask all the questions they want and get a real local feel of the place they are visiting. If you know your town like the back of your hand, why not charge people for tours? You can create packages that include:

  • Walking tours
  • Taxi services to and from their hotels
  • Breakfast, lunch, or dinner at a local restaurant

 

67. Bridal Concierge

The wedding industry is one that will most likely live in perpetuity. This is meant to be a special day for a couple, but often turns into a chore because of all the planning that comes with it. Because it is nearly impossible for brides and grooms to be able to enjoy the planning of their wedding, they often pay professionals to do it for them. If you have strong organizational skills, are communicative, pay attention to the little details, and love weddings, then you could set up shop from the comforts of your home. To get started and build a portfolio, offer your services to a friend or family member. From there, you can start charging other clients.

 

Related: What You Can Learn About Ecommerce From Used Wedding Dresses

 

68. House and Pet Sitting

People who go away on holiday often worry about whether or not they will come back to an intact home, especially if they have pets. This type of business requires little to no monetary investment. Start by approaching:

  • Friends
  • Family members
  • Neighbors

As your house and petsitting business gets on its feet, think about marketing yourself to your local community by:

  • Designing business cards
  • Launching a website
  • Hanging flyers in your area
  • Advertising in the Yellow Pages

 

69. Senior Home Companion

The minimum life expectancy is becoming later and there are now more than 45 million people in the United States who are 65 years old and up. As people age, they need more help with their day-to-day activities and may also appreciate some companionship.

 

70. Electronics Repair Services

The 21st century has led the majority of people to own at least one electronic device, if not multiple. Although many insure their products, most still prefer to get a quick fix rather than sending it off for a long time before getting it back. This type of business has room for expansion, and you can offer repairs for:

  • Appliances
  • Computers
  • Cameras
  • Phones
  • Speakers and musical equipment
  • Televisions
  • Gaming devices

 

71. Upholstering Services

If you're good with your hands and have a particular love for sewing, why not train as an upholsterer? There are a number of ways you can learn the upholstering trade, including:

  • A course
  • Books
  • YouTube tutorial videos
  • Practicing on old furniture

There is also significant potential for expansion. Often people who need upholstering services also need their furniture repaired, so why not learn to repair furniture as well? You could also team up with a company who does repairs and add these costs to your customer's final invoice.

 

72. Auto Repairs

You can start an auto repair shop from the comforts of your home if you have a garage and the right tools. On the other hand, if you don't have the space to open a business from home but do have the tools, you could open a mobile auto repair shop where you travel to the location of the vehicle in need of repair. There is also the option to start your own car wash and detailing shop. You don't need to have any mechanic skills, just a keen eye for detail and a love for getting your hands dirty. This is a very rewarding business that can become extremely profitable with the right promotion.

 

Related: How to Find the Right Tech Talent (for the Non-Tech Entrepreneur)

 

73. Bicycle Repair

Although a bicycle repair service can be seasonal, there are opportunities to tap into multiple markets so that you can have an income year round. For cyclists who just use their bikes to go to and from work, offer general repairs and maybe storage facilities during the winter months. If you want to attract cycling fanatics, you can offer year-round repair services. A Saturday shop in the right location is the perfect way to gather a bit of a crowd that will surely spend hours discussing their common passion.

 

74. Menu Planning Services

The restaurant chef is not the only person that has a say on what goes on the menu. High-end restaurants often find themselves indecisive when it comes to the food they want to serve, especially as seasons change. A menu planning business is a very low-cost idea, but is perfect for those who love to work with food without any direct involvement in preparing or serving it. Many places are willing to hire a consultant to design their seasonal menus, so visit local restaurants and make them aware of your culinary skill set.

 

75. Home Daycare Services

Firstly, you will definitely need the appropriate licensing and permits to start a home daycare business. That said, if you love children; have worked with them before; and have friends, neighbors, or family who take their young children to nurseries while they are at work, then starting your own home daycare business could be very profitable. When getting licensed, you will need to:

  • Research the requirements according to your state's laws
  • Get the correct orientations
  • Submit your application
  • Get your training
  • Buy the necessary insurance
  • Have your home inspected

 

Finally…

It may seem daunting to leave your 9-to-5 grind and start your own business, but by doing so, you are giving yourself a newfound level of freedom while doing something that feeds your passion(s). The internet has made it increasingly possible for you to brush up on your skillset or even learn new ones, leaving you with the opportunity to start a business easily and cheaply.

source: entrepreneur

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Cogestra Laser SA

144, route du Mandement 

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