5 Small Business Trends Women Entrepreneurs Should Look Out For

Apr 09, 2020

I’ve been an entrepreneur for over 30 years. I’ve created three businesses and I have helped hundreds of other entrepreneurs build their businesses. I can’t think of anything else that brings me more joy than building something of my own and having the freedom to carve out my own life.

With the changes in corporate North America, coupled with the most recent pandemic layoffs, women are looking at pursuing other opportunities because of frustration with the way things are and a desire for a better life.

Women are genetically wired to survive. According to Dr. Qudsia Anjum Fasih, a family medicine practitioner living in Dubai says “In times of crisis, in war zones, in times when she has to play the role of a fierce protector, the woman is really hard-wired to multitask on several fronts. She is able to act with her head and her heart — which means she is physically and emotionally available to protect her family. The men are traditional hunter-gatherers who can go out and procure but cannot multitask or generally be there emotionally as well.”

You’ve spent so many years working to build someone else’s business – now is the time to do that for yourself. Turn your passions and skills into income and do something that you love!

I have a new term for you – Encorepreneur. Encorepreneurs are people in their 40s, 50s and 60s that have earned an income in a career or in a profession for the better part of their lives and have now created their own income stream by owning their own business – doing something that they love!

Change is difficult at any stage in life especially when you are older. You have created a security blanket of routine and predictability in your life. You were used to a steady paycheck and maybe 9-5 hours, evenings and weekends free. Creating something for you is scary and unknown. You might be worried that there is too much to learn and you don’t have the capacity and asking yourself how do I start my own business? Knowing where to start seems overwhelming. I am here to help you with that starting with:

5 Small Business Ideas That Are Gaining Traction for 2020

1. Meal Kit Sales and Delivery

Born from a need during Covid to create and deliver meals for seniors and those in quarantine, this business idea is expected to reach $11.6 billion in sales in the U.S. by 2022. Customers choose from different recipes online each with pre-chopped and measured ingredients along with instructions for cleaning and preparation. Kits are delivered to people’s homes on the chosen date. A details list of ingredients and calorie counts allows consumers to avoid products for allergies and adhere to dietary requirements. Set yourself apart by sourcing fresh local ingredients or even tap into the ethnic food market – lots of opportunities here.

2. Home Design Business

Do you have a flair for decorating, love to paint or do woodworking? Why not turn that into a business. There’s a reason why TV networks such as HGTV, The Learning Channel and DIY Network have such a huge following – this industry is HOT! While many North Americans are super interested in home improvement and home design many don’t have the time or the flare to do it themselves. This means plenty of opportunity for encorepreneurs like you to start a home design business: interior design/decorating, interior redesign, professional organizing and painting.

3. Senior Care Services

Senior care services continue to rank as one of the best business opportunities. Baby boomers will have reached the age of 65 by 2030 making up a large portion of the population in North America. Many are a wealthy demographic compared to previous generations so, for the most part, they can afford to pay for services necessary to maintain their lifestyle. According to the AARP, 3 out of 4 adults age 50 and older want to stay in their homes and communities as they age. Now more than ever, a wealth of opportunities exist for encorepreneurs to help seniors.

4. Facilities Support Services

Facilities support of management services encompass a range of services for businesses that include:

            Cleaning

            Security

            Building maintenance

            Moving

Businesses are increasingly engaging outside parties to manage their support services to avoid the use of key employees for non-core business functions. If you like cleaning and organizing, this might be a new business idea for you!

5. Professional Organizer

Professional organizers are usually people that are highly organized themselves. You have a knack for knowing where things should logically go and creating systems to keep them that way. Professional organizing isn’t limited to the home, many businesses can benefit from some reduction of clutter that will make them more efficient and more productive. No formal training is required for a professional organizing business, and if this is your thing you will gain a great sense of accomplishment by helping others and teaching them how to maintain order in their lives.

These 5 trending business ideas are just the tip of the iceberg to get you thinking about how you can monetize your skills through a new small business venture. This is your life so lead with your heart, trust your instincts and go for it! This is your life so be wary of seeking other people’s advice. I have seen so many people (myself included) base their decisions on the opinions of others. While it is helpful to have the support of friends and family, sometimes the fears of your loved ones can discourage you from pursuing your own goals. This can lead you to doubt and prevent you from chasing your dream.

There are so many resources out there supporting your success. Every business starts with an idea and a passion. What’s yours? Email me at [email protected] with your idea – no idea is a bad idea, I'll be your buggest fan!

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