North Carolina has a diverse economy consisting of various types of businesses in multiple sectors. Its abundant supply of hydropower, pleasant climate, and wide range of soil make it an agriculturally strong state.
North Carolina has several industries including technology, agribusiness, and financial services. It is the largest producer of US flue-cured tobaccos and sweet potatoes.
Agriculture has been one of the most important industries for centuries. However, the internet and technology have made it easy for people who want to start their own businesses.
Here are some profitable small business ideas in NC, Charlotte.
The Best Small Business Opportunities in North Carolina
Start A Blog
Blogging is perhaps one of the easiest ways to earn extra income these days. You can create your own blog and monetize it through AdSense, affiliate marketing, or any number of methods. To get started check out my guide on How to Make $1,000+ Per Month With Your Own Blog.
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Affiliate Marketing
Another profitable home-based online venture is affiliate marketing. All you need to do is get involved in promoting products and/or services from reputable brands.
Virtual Assistant Business
Nowadays, most IT companies require part-time workers who can perform tasks like daily task management, client support, sales support, etc., directly from their homes.
Freelance Writing Services
Are you good with writing? The freelance writing market is now a billion-dollar business worldwide. You can start your own online writing career by taking up live projects through Upwork and Fiver. The more work you complete, the better you’ll get paid. This includes writing for websites, blogs, ebooks, and magazines.
Graphic Design Business
Graphic design is one of the fastest-growing fields in the world today. With the advent of new technology, people are able to create graphics and images online. If you’re interested in starting an online business, then graphic design could be just what you need.
You may not need any prior experience, but if you know how to use Photoshop or another similar program, you’ll find plenty of jobs out there waiting for you.
Customized Tour Services
Tourism is one of North Carolina’s largest contributors to its economy. There are plenty of tourists visiting the state, so there is a large potential market for customized tourism products and services.
Digital Marketing Agency
Many small businesses are starting to grow around the state. They’re looking for ways to get their websites up and running, so they can begin offering digital ads and SEO.
Recruiting Agency
Unemployment is high in North Carolina. However, there is an unmet demand for skilled workers. If you’re willing to take the time to learn the skills necessary to become a recruiter, you can help fill this void by offering recruitment services to growing companies and individuals.
T-Shirt Printing Business
Manufacturing in the state has lower costs than manufacturing elsewhere, so you could start an online business offering a T-shirt printing service. You could also manufacture the clothes yourself, or outsource them.
Social Media Marketing Business
For small businesses, hiring a specialist social media manager may be an option. You could also offer freelance services through sites like Upwork and Fivver. As a freelancer, you can set your rates and decide which projects you take up.
Travel Agency
There are plenty of tourists visiting North Carolina each year, so you could start an online business by offering international ticketing, foreign currency exchanges, and hotel bookings.
A bed and breakfast business involves renting out rooms for people to
The state has a large number of visitors every year. If you live close to one of its major cities, consider starting a bed and breakfast business from your own house. Rent out your spare rooms through Airbnb so travelers looking for an alternative to hotel accommodations can stay with you.
Here are ten steps to start a business in North Carolina.
To legally start a small busiÂness in North Carolina, follow these simple instructions:
Business Plan
A proper business strategy is very important for any business. North Carolina has different types of businesses. Some are competitive for new businesses. One can begin with a full business strategy with all the necessary details to make it successful.
Finishing up financing for your business.
If your company has something unique to sell, then you should consider trying to find investors initially. A number of companies provide funding for start-ups, so check them out. However, if you’re self-employed, then you’ll need to take care of financing yourself. In order to do this, you may wish to think about applying for a loan.
Name your business.
You’ll need a website address to get started. A good place to start building your site would be www.wordpress.com. When creating a new blog post, make sure you include keywords related to your niche. Add these keywords to your title tag so they can help people locate your posts through searches.
Read: How to name your business?
Choosing A Business Structure
Next up you should register your business by selecting a company structure. You can select between a sole proprietorship (S) or a limited liability company (LLC). Choosing an LLC offers additional advantages.
As an LLC you may enjoy added tax advantages and legal advantages such as no individual legal liability and twice-taxed income.
Federal Employer Identification Number (EIN) and tax filing
A federal employer identification number (EIN) makes your company eligible for tax deductions. To obtain an EIN from the Internal Revenue Service, you must first file Form SS-4 with the IRS. Additionally, if you want to be able to deduct expenses from your personal income taxes, you need to file Schedule C with the North Carolina Department Of Revenue.
Business Permits & Licenses
You need to check out each city’s specific licensing rules and regulations. Counties may also have their own additional business license rules.
Business Bank Account & Accounting Software
Separate bank accounts can help you to keep track of all your finances in one location. This will also allow you to file taxes easier. Set up an accounting system. Choose a good accounting program to ensure that all your transactions are getting processed in one spot.
Business Insurance
North Carolina doesn’t require business owners to carry a certain type of liability coverage, but if you’re going to be offering services to others, then having a professional liability policy is strongly advised. Also, workers’ comp is essential if you plan to hire anyone.
Promote Your Business
Now you need to start building your brand. You can do so through various online platforms such as Facebook, Twitter, LinkedIn, Instagram, YouTube, Google+, and others. These platforms allow you to build a strong audience base and engage them with your product or service offerings.
Once you’ve built up a solid following, hire an SEO company to help you drive traffic back to your website via organic search engine optimization (SEO).
If you’re looking for the best places to start a business in North Carolina, here are some suggestions.
Choose the right location for your business carefully. Here are some of our favorites in North Carolina:
AshevilleRaleighCharlotteElizabeth CityDurhamGreensboroHigh PointNew Bern
This is a complete step-by-step guide on how you can begin a successful small-scale enterprise in North Carolina with a minimum investment.
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