best small business ideas? in General Posted March 15, 2014 Skeptic, working for someone else and going home after work without worry has some advantages. While job security is becoming rare and downsizing is becoming a normal part pf doing business, it is nice to work nine to five and leave the headache of the job behind to the owners. Of course your life becomes routine and constant. you must have financial plans since you have a fixed income. tHe most important aspect of this is you are free. Having your own business has both advantages and real risk. You will be spending a great deal of your time in the business. You may even work seven days a week. If your family does not support for your adventure, it may even cause a great deal on your relationship. Success in the small business comes after hard work and a lot of headache. you must be have a backbone. Please check this small list before you start the business. 1- Starting from scratch is always hard. You should be patient in the first year of the business, since it takes time to build clients. you must have enough cash flow to sustain yourself while invoices from clients are delayed. 2- Avoid restaurants business, Especially one that caters to ethnic groups like Somalis,75% of them fail in the first year. If you want to involve in the food business, it must be a franchise or Donair shops. 3- Avoid any business that has high overhead costs, like expensive rents or utilities. It will constrain any of your efforts to spent money for advertising or employees. 4- your business must be one that targets for the main stream. By targeting all of the residents of the town your chances of increasing the customer base will be higher. As a self employed for the last ten years, I will suggest you few business that might be successful. !- insurance broker. A large number of Somalis and others are using this business. All you need is small office and few trained people. You may need a three months course to run this business. 2-car rental franchisee. It is easy to recruit both young Somali sisters and other attendants. The franchise will help you to succeed. 3- If you are trained in any of the trades like, electrician, plumbing or carpentry, you may set up your own small shop and get contracts, especially in the hot booming economies of western Canada. There could be many more. It is all depends what is your field of education and how deep your pockets are. Any way, good luck.