- Germany and France especially are providing a fiscal stimulus worth nearly 60% and 25% of their 2019 GDP
- In the UK, for example, 19% of the population aged 16 to 74 pursued online courses in 2019
- Digital advertising spending in Europe grew to US$69 billion in 2020 and is forecasted to grow to US$97 billion by 2025
- Pet owners generally love to treat their animal friends and family. This has supported the pet-care industry’s 2.6% annual growth rate as owners want better food, toys, clothing, medical, and household products
As the times are uncertain, investing in small businesses is the safest and most profitable move. In Western Europe, some industries and sectors are moving in the right direction to get favourable outcomes and attract more customers. This is mainly due to governments providing substantial relief bills and workers furlough to keep economies going. Germany and France especially are providing a fiscal stimulus worth nearly 60% and 25% of their 2019 GDP. With a new vaccine helping to bring everyday life back to normal, it’s a good time for anyone looking to startup. Here are the best small business ideas to start in Western Europe for 2021 to help you achieve profit.
The last decade has seen a massive shift of European students and working professional moving from traditional classroom methods of learning to digital and online. During the ongoing pandemic, online education methods were preferred and used across Western Europe using online classrooms, virtual teachers and examiners, video training and online materials. In the UK, for example, 19% of the population aged 16 to 74 pursued online courses in 2019. Creating your own educational platform or investing in other similar startups is profitable in the current and future scenarios.
Telemedicine is the practice of providing doctor’s consultation and medical prescription virtually by offering proper medical counselling from the comfort of your home without any physical contact. As almost every Western European country is encouraging social distancing, demand for telemedicine has skyrocketed. This type of business also lowers the cost of running a store or office, so it has a great profit margin and will earn anyone vast revenues, especially during this current pandemic. Telemedicine requires a considerable investment of a few thousand euros to startup and good product or service marketing to help your business stand out from competitors.
Digital Marketing Firm
As mostly all businesses are shifting online, digital marketing has become more vital than ever before. And despite a slight decline this year because of the pandemic, digital advertising spending in Europe grew to US$69 billion in 2020 and is forecasted to grow to US$97 billion by 2025. It gives an excellent opportunity for small or medium scale budding entrepreneurs. Launching your own digital marketing firm with a team of SEO specialists, content writers, social engagement experts, and research analysts will provide a great return on investment.
In 2019, around 85 million European households owned at least one pet. Pet owners generally love to treat their animal friends and family. This has supported the pet-care industry’s 2.6% annual growth rate as owners want better food, toys, clothing, medical, and household products. You can start your own pet-care store, or you can invest in a retail business that offers pet care products.
Refurbishing and Reselling
Refurbishing used electronic equipment and selling them again is a need which is growing massively as the world tries to deal with waste management and climate change. The EU, which has many Western European nations, amended the ‘Right to Repair’ rule. From 2021, manufacturers must create longer-lasting and easily repairable electronic and machinery parts to help in cutting CO2 emissions and waste. Many large European electronic businesses like AO.com offer services to collect old electronics for refurbishing and recycling. You could capture this demand trend by setting up a refurbishing startup. Products are more affordable as their not brand new. Using this, and the eco-friendly or social responsibility factor while advertising your startup services will attract more customers.
Recent entertainment surveys show that the younger generation is shifting towards listening to podcasts more than radio, for topics about their hobbies, household chores, daily tasks, interest, news, TV shows, books, celebrities, and even education. Developing a podcast using an audio app or web source is cheap. It only requires a microphone, laptop or phone to record your voice and upload the recording onto an online or mobile platform. Setting a podcast can feel very rewarding for any entrepreneur or professional if you talk about your interests or experience. The biggest obstacle is marketing and spreading the word about your show. See our marketing resources to help you properly reach your target audience and capture sales.
Food Delivery Platform
Starting your own food delivery business with a bunch of delivery persons is highly productive. You can establish direct links with local restaurants and quickly design a ready-made mobile app or website to draw food lovers. According to Deloitte, the food delivery marketing has been experiencing double-digit growth for some time and is forecasted to be worth US$25 billion by 2023. This trend grew in 2019 because of the social distancing and lockdown restrictions, which forces food and restaurant businesses to delivery directly to customers. Why not get some of that money yourself by creating a food delivery startup.
Movers and Packers
People always need helpers when they decide to shift to some other location. So, establishing a movers and packers company with some assistants and a transportation means could be fruitful. The highest cost of starting up is acquiring a vehicle large enough to transport goods. To get around this, many small business owners hire vans from a cheap global rental service like Europcar, which is located across 18 Western European Countries, or Enterprise-Rent-A-Car. Apart from the vehicle costs, you will require very little money to start and get higher returns.
Courier or delivery services are never off the track. With the pandemic, the need for delivery services grew by 2.21%. The profit that you can earn through this business is huge. It requires hiring delivery and parcel staff to register your agency. After that, you can contact various online selling platforms and nearby retailers or wholesalers. Alternatively, many one-person courier services register directly with multinationals like Amazon or Uber to deliver their goods. The most significant benefit of doing this is that these companies will never run out of goods to deliver, and you can be your own boss, choosing when and which deliveries to do.