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Thinking of starting a business in Canada this year? With a 2.0% growth forecast, it’s the perfect time for entrepreneurs to enter the market. So, if you’re looking to start something new, you’re in the right place.
Here’s our list of the top 10 business ideas for 2024 to help you spot the best market opportunities. Ready to explore? Let’s get into it.
Looking to start a business with long-term potential? Then creating a Software as a Service (SaaS) platform can be a great option. With SaaS, you provide online software solutions to businesses, helping them solve specific problems like project management or customer relationship management.
The beauty of SaaS is that once you’ve developed your software, you can offer subscription-based access to businesses who need it. Unlike traditional businesses, there’s no need to worry about manufacturing costs, shipping or customization for each client, making it a highly efficient long-term business opportunity.
List of the top SaaS businesses to consider:
Organic food delivery is becoming popular across Canada, especially in major cities like Toronto, Vancouver and Montreal. The reason is that many people, with their busy schedules and limited time for grocery shopping, are seeking convenient access to fresh and organic groceries.
You can deliver fresh, locally grown organic fruits and veggies to city folks, who want healthy and convenient options.
Starting this service requires smart and strategic planning. However, with the right approach, you can meet the growing demand for organic food and build a successful business that helps busy people eat healthier and supports local farmers.
Real Estate has always been in demand, and with Canada’s growing housing market, starting a real estate agency in 2024 presents a promising opportunity. In 2023 alone, the average home price in Canada increased by 16.3% compared to the previous year.
So, if you’re thinking about starting a business in Canada in 2024, getting into real estate could be a wise choice. Here are 6 steps that help you to get started:
By following these steps and staying dedicated to your goals, you can start and grow a successful real estate agency in Canada in 2024.
According to Environmental and Climate Change Canada, 70% of Canadians prefer to buy products that don’t harm the environment. This means there’s a big market for a Green Cleaning Service. This business uses friendly, green products instead of strong, harmful chemicals.
You can start small by investing in basic cleaning supplies and gradually expand your services. Your customers would be homeowners, offices, schools and other places that want to keep things clean and green.
By targeting people and businesses that want eco-friendly options, you’ll stand out. This not only helps the environment but also helps your business grow.
Did you know that in 2023, Canada generated approximately 25 million tonnes of waste, with only about 30% being recycled? For this reason, waste management is another great option for making a positive impact on the environment while running a successful enterprise.
Here’s where you step in: By starting a waste management business, you can help communities and businesses properly dispose of their waste while also promoting recycling and sustainability. You can offer services such as waste collection, recycling, composting and hazardous waste disposal.
To get started, you can reach out to municipalities, businesses and residential areas to offer your services. Additionally, platforms like Waste Connections and Waste Management Canada can provide valuable resources and connections for launching and growing your waste management business.
With its potential for positive impact and profitability, waste management could be an excellent business idea to consider in 2024!
As more people in Canada switch to electric vehicles to reduce pollution, the demand for places to charge them is growing fast. For those who are thinking about starting a business that helps the environment and meets the needs of the modern world. Consider opening an electric car charging station.
Here’s how it works: You set up charging stations in public places, like parking lots of malls or office buildings. These stations let electric car owners charge up their vehicles while they’re out and about. Plus, by offering fast-charging options, you can attract even more customers, especially those on long road trips.
The best part? The government offers incentives and grants to support businesses like yours that promote eco-friendly transportation.This means you can get help to set up your charging station and make a positive impact on the environment while making money.
If you’re interested in opening an electric car charging station in Canada, there are several governmental programs and incentives available to support you:
These programs and incentives can help offset the costs of installing electric vehicle charging stations and make your business more financially viable. Be sure to review the eligibility criteria and application process for each program carefully to maximize your chances of success.
In Canada, the need for immigration consultant services is constantly growing, making it a great business opportunity for 2024. With the government planning to welcome over 1.3 million immigrants by 2024, there’s a high demand for knowledgeable immigration consultants to help newcomers navigate the immigration process.
As an immigration consultant agency, your job is to help people navigate the immigration process, from visa applications to understanding different immigration programs.
To start, consider becoming a Regulated Canadian Immigration Consultant (RCIC) or joining the Immigration Consultants of Canada Regulatory Council (ICCRC). Building a professional website and using social media, like LinkedIn, will help you attract clients. Collaborating with immigration law firms and educational institutions can also expand your network and establish your credibility.
By offering reliable immigration services, you not only have the opportunity to build a successful business but also to help people fulfill their dreams of moving to Canada.
Looking to start an online business but unsure where to begin? Dropshipping might be the answer for you. It’s a business model where you sell things from suppliers on your website without dealing with the products yourself. So, no need to keep stock or handle shipping.
3 simple steps to help you get started:
Another great niche to consider in 2024 is providing accounting & bookkeeping services. In 2022, the accounting industry in Canada grew to $26 billion, showing a huge demand for financial services. So, if you have expertise in this field, starting your own agency could be just right for you.
A comparison of bookkeeping and accounting indicates that while bookkeeping involves the day-to-day recording of financial transactions, accounting encompasses a broader range of financial tasks, including analyzing, interpreting and reporting financial data.
Here’s the scoop: According to Statistics Canada, there are over 250,000 accountants, and small businesses really need their help. Using digital tools like QuickBooks and FreshBooks, you can easily manage clients’ finances from anywhere. Plus, platforms like Upwork or Fiverr can help you find clients and get your business started.
So, if you’re good with numbers and want to help businesses stay organized and on track, starting an accounting business could be your way to success!
Last, but not the least in our list is affiliate marketing.
Here’s how it works: you promote products or services from other companies on your website or social media. When people buy through your unique link, you earn a commission. The best part? You don’t need to create your own products or worry about shipping. It’s a low-risk way to make money online.
To get started, sign up for affiliate programs with companies like Amazon, ClickBank, or ShareASale. These platforms connect you with thousands of products to promote and even provide you with special links to track your sales and earnings.
So, if you’re passionate about certain products and love sharing your recommendations with others, affiliate marketing could be a great fit for you.
Exploring the top 10 businesses to start in Canada for 2024 shows plenty of opportunities across various industries. Canada’s dynamic market offers niches for every entrepreneur, from technology enthusiasts to sustainability advocates. With careful planning and dedication, you can turn these ideas into successful businesses.
If you’re someone who’s often on the road for work in Canada, Inspired Travel Group is here to help. We make sure your trips are smooth and easy, so you can focus on your business. Reach out to us for all your corporate travel needs, and we’ll take care of everything.
