If you’re looking to be your boss, work on your terms, and make an impact in the finance industry, there are so many opportunities for you to capitalize on. With all the choices ahead, it can be tough to decide what you should do
For creative and innovative people, looking to start a business, here is the list of finance business ideas that might interest you. This is not an exhaustive list, but we hope it will help you in getting started.
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1. Create a personal finance management app
People always need a way to manage their finances, especially now with all the new technology available to help them do so easily and quickly, such as banking apps and other types of applications that make it much simpler to track budgets and expenses. Your app could also teach people about various things related to finance and accounting like GST certificate download by GST number or how to open a savings account. This page has more information.
2. Gold loans
You can borrow gold from people and lend it to other customers who want to earn interest in it while they are waiting to sell it back or use it themselves. This also allows you to expand your business over time as you get more customers who trust you with their gold.
3. Forex signals
The forex market is huge and there is a lot of money that can be made by sharing signals with people who want to trade their currencies. Forex traders are always in need of some kind of support to stay on top of the market, and you can provide that support through your trading signals
4. Instant loans
Start an internet business that allows lenders to offer their money to multiple borrowers at once. A platform like this will save time and money for both the lenders and borrowers and make it easier for them to find each other. Many websites do this already, such as Lending Club, Prosper, Funding Circle and Zopa.
5. Help people manage debt
Find ways to help people with debt problems manage their finances better. For example, you could create an app based on your budgeting book ‘You Need A Budget’ that helps people see where they can reduce spending without feeling like they are being deprived of something they enjoy.
6. Educate people on how to get loans
Provide services to small businesses looking to get loan finance from banks but don’t want the hassle of having a relationship. For example, you could create a service that gives these businesses a free credit report when they are looking for finance or a website that allows them to compare the interest rates offered by different banks. Another idea is to create a service that helps them prepare their financial information for a bank loan application – for example, by putting their figures into a spreadsheet or building them a financial model of their business.
7. Finance news mobile app
You can start a simple app that gives people different kinds of information related to economy of a nation. This could give static information like who are the members of GST council or it could give the latest updates in the stock market or it could give an in depth analysis of the budget.
Read also: 5 Effective Ways To Build And Grow Your Startup