Statistics show that the growth of the online business environment has been remarkably steady in recent years. It’s predicted that global retail sales will make up nearly 25% in 2026, which will be an increase of 6% from 2021.

There are several innovative online business ideas that budding entrepreneurs can tap into and start making money online with minimal experience and startup costs.

With online retail sales across the globe expected to surpass the $7 trillion mark by 2025, it’s time to explore a digital business idea that aligns with your desires and leverages the digital environment.

Digital Marketing Agency

Many physical businesses are shifting to digital or online platforms, increasing the need for online or digital marketing services. Launching a digital marketing agency that offers services such as social media marketing, SEO, content creation, PPC, etc. can be very profitable.

The startup costs are low, but a solid understanding of various digital marketing approaches is essential. Your earning potential is typically based on project fees and client retainers.

1. Virtual Event Planner

The Covid-19 pandemic that ravaged the entire world gave rise to virtual events, and the trend looks set to continue. Being a virtual event planner involves planning and organizing social events, online conferences and webinars from the comfort of your home or office.

You’d need robust organizational skills and overall familiarity with various virtual event platforms. Since the main expense when starting this type of business is marketing, the startup costs are arguably minimal, with the main expense being marketing. Your earnings can be on a retainer basis or per event.

A lady tralking on the pone while working on a laptop

Voice-Over Services

If you’re gifted with an incredible speaking voice and excellent command over a certain language and pronunciation, consider launching a voice-over services online business.

This business involves providing voice-overs for audiobooks, animated films, video ads, podcasts, and more. Startup costs will include investing in a quality sound editing software and a microphone. Your earnings will depend on project size and number. No specific education is required, to get started, but voice coaching may help you expand.

1. Online Plant Nursery

In today’s online business environment, more and more people have embraced the idea of spending time at home. This means that the demand for indoor plants and home gardening supplies has also grown.

An online plant nursery could involve selling gardening accessories, seeds, plants, or cuttings. This type of online business model requires knowledge about plants and their care. You can use your social media accounts/handles or an official website in marketing your products.

The capital can be around a few thousands of shillings for inventory and site setup. You have a huge earning potential if you select the right product and adapt the right marketing strategies.

1. Wellness Coaching

Online wellness coaching has become so lucrative in the recent past due to the increased focus on health and wellness. As a wellness coach, you’ll be required to provide personalized advice on exercise, diet, stress management and more.

You need to have good interpersonal skills and certification in a health-related field to get started and succeed. The initial costs are for launching this business is minimal because you’ll only need to market your business properly and acquire the necessary certifications and you’re good to go. Depending on your client base, your earnings can be substantial.

1. E-Commerce Personal Shopper

It’s no secret that many people across the globe appreciate the convenience of a personal shopper. Therefore, as an e-commerce personal shopper your job is to curate items based on clients’ needs and personal preferences.

You’ll to be knowledgeable about new trends, know how to navigate various e-commerce platforms and have a good taste. The initial costs for launching this business are low, mainly for a website and marketing. Earnings are usually either a retainer or commission-based.

A lady working on a laptop at home

1. Freelance Writer/Editor

Millions of writers across the globe are earning a living working online as freelance writers. Offering such services online as a freelance copywriter or content or blogger can be a fulfilling online business investment. This could involve writing web content or editing manuscripts, news stories, articles or blog posts. You’ll need a portfolio of work showcasing strong writing and grammar skills.

The initial costs for getting started are low, mainly requiring a stable internet connection and a good computer. Your earnings will vary depending on the type of writing or editing you choose to specialize in and the complexity of the work you do.

1. Remote Tech Support

With the advancements in technology growing every single day, the need for tech support also keeps growing. Launching an online tech support business which assists clients remotely to troubleshoot their tech issues over the internet is a lucrative business venture.

To succeed need a good understanding of common tech problems that any average person may face and their fixes or solutions. The initial cost, which involves a good software and a computer setup, is moderate. Earnings depend on your hourly rates and number of clients.

1. Virtual Assistant

Virtual assistants are individuals who provide administrative services to clients remotely. Your duties as a virtual assistant will involve social media management, replying to emails, and scheduling meetings. You need to have proficiency with common SaaS programs or office software, possess good organization and communication skills.

The initial costs for starting this online business model are minimal, largely for a good computer setup. Your earnings will depend on your client’s budget, hourly rate and can vary widely based on the complexity of tasks you perform daily.

A lady looking at her laptop

1. Affiliate Marketing

Today, there are several digital marketers who earn good money by promoting and selling other brands’ products without keeping an inventory. As an affiliate marketer, you’ll be earning a commission for each sale you make your special affiliate link. This means that you need to establish a platform, such as a social media account or a blog, where you can share these affiliate links.

It also requires that you have a good understanding your audience’s specific needs and interests to promote products that can solve their problems or satisfy their needs.

The initial costs are low, largely for setting up your platform. Your earnings will be a percentage of each sale you make through the links, and while they can start low, many affiliate marketers earn substantial income.

Final Thoughts

Launching an online business in 2024 is not only lucrative, but also a exciting prospect. With the right online business idea, a strong work ethic and a clear plan and you can establish a flourishing online enterprise in the booming digital business environment.

Whether you’re passionate about wellness, tech, finding solutions to issues, art, or writing there’s an online business idea out there that suits your interests and skills. While success doesn’t come overnight, with dedication and persistence you can turn a small idea into a profitable investment.