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Most profitable small businesses

Working for yourself can be great because it gives you freedom, but there are also downsides to it, particularly if you’re running a business rather than working freelance. The most profitable small businesses are varied so why not have a look through our list to work out if there’s anything you can turn your talents to?
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Small business

It’s not all about the money but you need to make profit in order to stay in business so doing something you love is only worthwhile if there’s money in it. One of the most profitable small businesses is in the accounting and bookkeeping sector. The typical profit margins of 21.2% are attractive but you need the necessary accounting qualifications to do this work, and you’ll only start making really serious money when you established a reputation as a reliable and accurate accountant.

Oil and gas

The oil and gas industry is the most profitable one to be in at the moment but sadly it’s out of reach for most entrepreneurs. If you have the cash to invest or the necessary experience to become involved for yourself, you could be sharing in profits said to be as high as 24%.

Self-storage units

Running a business that offers secure self-storage units is one of the most profitable right now. You could offer anything from secured boxes for valuables to lock and store space for unused furniture. This is a business opportunity that only requires capital because no particular expertise over and above good business sense is required.

Final word

Small businesses don’t have to be owner run but that’s the way to maximise your profits. Know your market before you sink your money in, and be prepared to suffer through some difficult times and long hours before things really take off.

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