Oberlo reports that the World Bank rates the United States 9.16 out of 100 in terms of expediency in starting a business. This is not surprising since free enterprise is highly valued and encouraged in the country. Entrepreneurship always rises to the challenges of the times.
A Surge in Startups
Based on data from the U.S. Business Formation Statistics (BFS), applications for new businesses have been on a rising trend for the last 10 years. Despite the pandemic, there were 4.35 million new business applications in 2020, representing 74 percent more than the 2.5 million new business applications in 2010.
There was an increase of 24.13 percent between new business applications in 2020 and the 3.5 million new business applications in 2019. This is the biggest year-on-year increase in the last decade.
The surge of new businesses is continuing in 2021. In the first quarter of this year, there were 1.36 million new business applications compared to 837,042 in the first quarter of 2020. In March this year, there were over 440,000 new business applications.
This provides a huge opportunity for new entrepreneurs. Many of the new businesses are catering to the online consumer market. New entrepreneurs can, on the other hand, cater to the needs of these new businesses as business-to-business or B2B enterprises.
There are various types of B2B products and services to offer. You need only to discover the specific needs of new companies. Below are only some of them.
Graphic Design, Branding, and Imaging
All companies, big and small, need to create a brand with a logo and related colors and typography. These create a single recognizable image that represents the business in all its exposure. As a graphic design, branding, and imaging company you can help each business define its brand and translate this into a branding package.
Website Building and Maintenance
It is now a basic requirement for all businesses to have a website because the primary way to reach consumers is online. Website building and maintenance services with accompanying search engine optimization (SEO) services are in demand. You can offer scalable packages and rates depending on the needs and financial capabilities of clients.
A digital marketing company helps a business design marketing campaigns to advertise its brand, as well as its specific goods and services, to consumers online. This includes campaigns on various social media platforms such as blogs, YouTube, Twitter, Facebook, Instagram, Pinterest, and TikTok.
A content production company provides articles for blogs or posts appropriate for each social media platform, including video productions. It can work directly for a business or accept outsourced assignments from a digital marketing company.
Companies often need merchandise printed with the company logo or other brand-related graphics. These are either sold or given out as promotional items to consumers. In businesses that still have physical stores, offices, warehouses, or plants, these are sometimes used as employee uniforms.
A merchandise printing company can provide merchandise printing using custom heat transfers of any graphics to a fabric. This is possible for all kinds of T-shirts, tank tops, jackets, and other types of clothing, as well as masks. Heat press machines used for this process are available online. Like content production, this can be directly for a business or as an outsourced job from a marketing company.
Bookkeeping and Accounting Services
A bookkeeping and accounting company takes care of the daily paperwork and long-term tasks of ensuring that the company’s financial records are in good order for their presentation to tax authorities. It also prepares the payroll for the company. It is cheaper for businesses to outsource this task than to hire a full-time bookkeeper and accountant.
Human Resources Services
A human resource service recruits and hires qualified people to fill job openings for a company. At the start, it can also provide consultancy services for creating the framework for employees’ salary grades and benefits, health insurance plans, and employee handbook guidelines and rules. This task is also often outsourced because the consultancy, as well as recruitment and hiring, are only required as needed.
Serving an Ongoing Demand
The advantage of selling goods and services to businesses is that they have a continuing demand to feed their output. For as long as they are operational, they need to procure the goods and services they use to meet their commitments to their clients.
These businesses provide a young and lucrative market for your new company. As they grow, your enterprise will continue to grow with them. Along the way, there will be more new businesses to add to your market, as well.