Examples of Financial Services Business Ideas (2023)

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You can use your financial experience to start your own business for private individuals or businesses. You can offer numerous services from bookkeeping to expense reduction analyst and tax accountant. Before you launch your business here are 10 examples of financial services businesses you can gain strategies from:

Examples of Financial Services Business Ideas (1)Bigstock

1. Bookkeeping Service

Are you a detail-orientated person who understands accounting? You could open a bookkeeping service to help small businesses or even individuals during tax season. Before you launch your start-up, here is a bookkeeping service you can learn from:

Business Name: Professional Accounting and Tax Consultants (PATC)

Website: http://www.patc.co.za/

Established Date: 1992

About the business:

PATC offers bookkeeping services that involves tracking and recording their clients accounting activities. Their services include invoicing, payments, and ensuring financial records are up-to-date. Their Their aim is to offer small business owners' managerial control while they handle the daily accounting tasks.

Innovative business offering

Apart from bookkeeping services, PATC also offers the following services: Accounting, tax consultants, financial statements, business plans, payroll services, business valuation, investment advice and workers compensation.

2. Business Broker

Are you skilled at valuing businesses and brokering deals? You could use your experience and expertise to start a brokerage firm. Before you start offering your services, here is an example of a financial services business you can gain insights from:

Business Name: Triangle Broking Services

Website: http://trianglebroking.co.za/

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About the business:

Triangle Broking Services offer to broker the sale of both businesses and franchises and offer to list their client's business on their website and other platforms. They pre-screen all prospective buyers and require them to sign a confidentiality agreement. Viewings are handled with utmost discretion and confidentiality.

Innovative business offering

In addition to their brokerage services, Triangle Broking Services also offer development of marketing plan, preparation and submission of advertising, assisting buyers and sellers with transferring of licenses and utilities, amongst others. They also list their client's business on numerous prominent international websites to ensure they find the best buyer for their client.

3. Commodities Day Trader

Do you understand how to trade commodities? Are you willing to risk some to earn some? Then this could be the financial services business idea for you. Before you open a trading account, here is an example of a successful day trader you can learn from:

Business Name: Louis Bacon founder of Moore Global Investments

Website: http://www.mooreglobalinvestments.com/

Established Date: 1989

About the business:

Louis Bacon founded Moore Capital Management and Moore Global Investments, the latter made significant profits by purchasing oil contracts ahead of Saddam Hussein's invasion of Kuwait.

Innovative business offering

In addition to commodity trading, Louis Bacon's companies also trade in forex. This earned him a significant amount of profits when he shorted the Japanese Nikkei just before the market collapsed.

4. Expense Reduction Analyst

Do you have strong business experience and budgeting skills? Then this could be the financial services business for you. Before you start your expense reduction consulting services, here is a financial services business you can gain strategies from:

Business Name: Expense Reduction Analysts

Website: https://us.expensereduction.com/

(Video) Part 1: Financial Service Business Models and Job Opportunities: Introduction

Established Date: 1992

About the business:

Expense Reduction Analysts is a specialist in cost and supplier management consultancy. They focus on delivering improved business performance to clients of all sizes in the private and public sector.

Innovative business offering

In addition to their expense reduction analyst consultancy services, they also offer industry expertise in a wide variety of expense categories such as logistics, facility management, corporate and personnel services, banking and financial services, along with telecommunications and information technology.

5. Stock Day Trader

A stock day trader, ideally, buys stocks and sells them once they've made a profit. This doesn't always happen, so you'll need to know your markets before you venture into stock trading.

Business Name: Tim Grittani

Website: http://timgrittani.com/

Established date: 2011

About the business:

Tim Grittani initially lost all his money, as he didn't have a strategy and was trading randomly. After taking some lessons and approaching trading with a well thought-out strategy, he attained millionaire status in a little over 2 years.

Innovative business offering

Tim Grittani used penny stock trading. These are volatile low-priced stocks, that can go up by 100% - 500% a day and down just as fast.

6. Tax Preparation Service

If you have experience with tax and like the idea of helping others with their tax preparation, this could be the financial services business idea for you. You can offer tax preparation services to small and large businesses to help them remain compliant during tax season. Before you start advertising your services, here is an example of a tax preparation service business you can gain insights from:

Business Name: Personal Tax Services

(Video) 7 Easy Service Business Ideas for 2020

Website: https://personaltaxservices.co.za/

About the business:

Personal Tax Services offer personal tax services assisting their clients in competing tax returns on time and in line with all SARS requirements. They also offer advice on the correct procedures in dealing with all tax-related matters for Trusts.

Innovative business offering

In addition to offering tax-related services, Personal Tax Services also offers company secretarial services to assist their clients with the compliance and governance needed to comply with the rules of company ownership and administration.

7. Peer-To-Peer Lending

If you're financially savvy, you can start your own peer-to-peer lending business. This is when you give small amounts of money to a business or private person, while collecting interest on the returns. Before you start lending out money, here is a successful business you can learn some strategies from:

Business Name: RainFin

Website: https://www.rainfin.com/

Established date: 2012

About the business:

RainFin offers an online marketplace that enables borrowers to access affordable debt capital and investors to access new asset classes. RainFin is a registered credit provider and aims to remove traditional costs and barriers for borrowers and investors through innovative technology, designed to create a transparent and fair marketplace.

Innovative business offering

In addition to the online marketplace, RainFin also offers lower costs compared to traditional bank loan programmes. They pass the savings onto borrowers in the form of competitive rates and to investors in the form of attractive risk-adjusted returns.

8. Retired Presidents Service

Do you know a fair amount of business veterans, company presidents, corporate executives and small business owners? You can create a network of industry experts to assist new business owners. If this sounds interesting, this could be the financial services business idea for you. Before you start reaching out to those you know, here is a financial services business that you can gain insights from:

Business Name: Score

(Video) Marketing Ideas For Financial Services Business?

Website: https://www.score.org/find-mentor

About the business:

Score aims to foster vibrant small business communities through mentoring and education. They give volunteers, stakeholders and sponsors the ability to give back to communities through their support of SCORE.

Innovative business offering

In addition to their network of small business owners and industry experts, Score also offer local workshops, webinars and courses, and they offer their network a library of resources to ensure they continue to succeed.

9. Real Estate Appraiser

Do you have experience in the real estate industry? Does the idea of becoming an appraiser of land and structures sound interesting? This could be the financial service business for you. Before you start advertising your services, here is a financial services business you can learn from:

Business Name: Real Insight

Website: http://realinsight.co.za/

About the business:

Real Insight is a boutique real estate advisory services company. They focus on property advisory and valuation services. They offer specialist property investment advice, property research and market analysis.

Innovative business offering

In addition to their real estate advisory services, Real Insights also offers insights across all property types from acquisition to disposal, financing to refinancing. They aim to cover every aspect of their client's real estate needs.

10. Teach others financial services skills

If you have experience in the financial services industry, you can also teach others your skills. If teaching sounds interesting, this could be the financial services business idea for you. Before you offer your services, here is a financial services business you can gain insights from:

Business Name: BPP

Website: https://www.bpp.com/courses/financial-services

(Video) 7 Financial Services Business Ideas That Didn't Exist 20 years Ago | BUSINESS IN AFRICA

About the business:

BPP works closely with employers and professional bodies to ensure their clients receive real world, relevant learnings that are as future-facing as possible. They offer accountancy and financial services courses to develop clients at every stage and every level of development.

Innovative business offering

In addition to financial services and accounting courses, BPP also offers courses in law, nursing, technology and more. To ensure their clients receive the best possible education in every area they're interested in.

FAQs

What are business financial services? ›

Financial services is a broad range of more specific activities such as banking, investing, and insurance. Financial services are limited to the activity of financial services firms and their professionals, while financial products are the actual goods, accounts, or investments they provide.

How do I write a business idea? ›

How to write a business plan in 9 steps
  1. Draft an executive summary.
  2. Describe your company.
  3. Perform a market analysis.
  4. Outline the management and organization.
  5. List your products and services.
  6. Perform customer segmentation.
  7. Define a marketing plan.
  8. Provide a logistics and operations plan.
27 Jan 2022

How do I create a business idea? ›

10 Great Ways to Generate Business Ideas
  1. Start with family. ...
  2. Get a little help from your friends. ...
  3. Look at all the things that bug you. ...
  4. Tap your interests. ...
  5. Travel. ...
  6. Keep your eyes open. ...
  7. Examine old mousetraps -- then build a better one. ...
  8. Take it to the streets.
19 Nov 2004

What are the top business ideas? ›

Here are some of the interesting business ideas in India for setting up a small business:
  • Automobile repairs. ...
  • Tiffin service. ...
  • Electronics repair. ...
  • Blogging as a small business. ...
  • Private tutoring. ...
  • Pet-care service. ...
  • Educational mobile apps. ...
  • Bake the cake.

What are the unique business ideas? ›

17 unique small business ideas for first-time entrepreneurs
  • Be the head chef of your own food truck. ...
  • Become a virtual interior designer and sell home decor products. ...
  • Start a dog-walking and pet-sitting business. ...
  • Become a virtual teacher and sell memberships to an online course.
22 Nov 2021

Which business is best for students? ›

Top 10 Profitable Business Ideas for Students
  • Tutor.
  • Sell Used Books.
  • Photography Services.
  • Food Delivery Services.
  • Blogging.
  • Organize Trips.
  • Baking Business.
  • Youtuber.
9 Jul 2021

What are examples of financial services? ›

Loans such as credit cards, mortgages, bridge loans, construction loans, lines of credit and business loans.

What are the 7 types of financial services? ›

These financial services are explained below:
  • Banking.
  • Professional Advisory.
  • Wealth Management.
  • Mutual Funds.
  • Insurance.
  • Stock Market.
  • Treasury/Debt Instruments.
  • Tax/Audit Consulting.
25 Jun 2019

What is an example of a financial services company? ›

Financial services companies operate in the finance industry, and they may be banks, insurance companies, brokerage firms, investment banks, credit card companies, and so on, depending on the product they offer.

What are the 4 types of business plans? ›

Business plans can be divided roughly into four distinct types. There are very short plans, or miniplans, presentation plans or decks, working plans, and what-if plans. They each require very different amounts of labor and not always with proportionately different results.

What is your big idea about business plan? ›

The primary purpose of a business plan is to establish your plans for the future. These plans should include goals or milestones alongside detailed steps of how your company will reach each step. The process of creating a roadmap to your goals will help you determine your business focus and pursue growth.

How would you describe your business? ›

What to include in a business description
  • Business name. List the official name of your business as it's registered with your state. ...
  • Business goals. ...
  • Target customers. ...
  • Competitive advantages. ...
  • Business location and opening date. ...
  • Mission statement. ...
  • Products or services. ...
  • Business structure.

What is the business idea or opportunity? ›

Definition of Ideas Versus Opportunities

Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value.

What are the three most common sources of new business ideas? ›

In my experience, promising new business ideas emerge from three sources: changing environmental trends, unsolved problems, and gaps in the marketplace.

How do business ideas make money? ›

Latest 6 Business Ideas to Make Money Fast in September 2022
  1. Freelancing for Professionals. Freelancing is one of the options to earn money instantly, as the freelancer receives the money just after the project completion. ...
  2. Food & Beverage Business. ...
  3. Blogging. ...
  4. Boutique. ...
  5. Digital Marketing. ...
  6. Custom Jewellery.
5 days ago

Which type of business is profitable? ›

With a net profit margin of 18.4% (according to a 2017 Sageworks report), bookkeeping, accounting, tax preparation and payroll services have long been some of the most profitable businesses for entrepreneurs.

What businesses Can I start with no money? ›

26 Businesses You Can Start for Free
  • Blogging. While not a new concept, monetized blogging is always a popular option for an essentially no-cost business. ...
  • In-home child care. ...
  • In-home dog care. ...
  • Pet services. ...
  • Dog training. ...
  • Freelance writing. ...
  • Freelance editing. ...
  • Resume building.

What is the most profitable business to start in 2022? ›

Let's get started!
  • Identifying the most profitable small businesses.
  • #1. Business Consulting.
  • #2. Real Estate Agents.
  • #3. Cleaning Services.
  • #4. Social Media Management.
  • #5. Creating Online Courses.
  • #6. Start a Small Business that Makes Candles or Soap.
  • #7. Payroll Services.

Which offline business is best? ›

Best Offline business ideas
  1. Child care. Child Care service is one of the best offline services which one can start without any investment. ...
  2. A food truck. Food services specifically on a truck are a trend these days. ...
  3. Catering services. ...
  4. Cleaning services. ...
  5. Bakery. ...
  6. Gardening. ...
  7. House painting services. ...
  8. Printing services.
4 Feb 2022

What kind of business should I start from home? ›

What are the easiest home businesses to start?
  • Dog Walking.
  • Selling on eBay.
  • House Cleaning.
  • Freelance Writing.
  • Home Tutoring.
  • Social Media Service.
  • House Painting.
  • Yoga Classes.

What kind of business can I start with little capital? ›

If you want to start a low-cost business, these 25 ideas will help inspire your entrepreneurial passion.
  • Content creation. ...
  • Personal or virtual assistant. ...
  • Event planning services. ...
  • Errand/concierge service. ...
  • Professional reviewer. ...
  • Social media consultant. ...
  • Etsy shop. ...
  • Online courses and tutoring.

How do I start a financial services business? ›

Step-by-Step:
  1. Obtain their DSC and DIN.
  2. Choose and get the Name approved from the ROC. ...
  3. Apply for a License to do the social work in India, from the Central Government.
  4. On receipt of License approval, apply for Incorporation. ...
  5. Obtain PAN and TAN for your Section 8 Company.
8 Apr 2021

What are the most profitable financial services? ›

Five Highest Paying Jobs in the Financial Industry
  • Overview of the Financial Services Industry. ...
  • Retail and Commercial Banking. ...
  • Investment Banking. ...
  • Insurance. ...
  • Financial Advisors and Brokerage Firms. ...
  • Hedge Funds. ...
  • Private Equity. ...
  • Other Financial Services.
23 Apr 2022

How do I sell my financial products and services? ›

9 Requirements for Effective Cross-Selling in Financial Services
  1. 1) Adopt a customer-centric view. ...
  2. 2) Establish a single view of the customer. ...
  3. 3) Build actionable buyer segments and personas. ...
  4. 4) Create a scalable analytical engine targeted to specific, prioritized use cases.
6 Mar 2019

What are the 5 most important banking services? ›

The 5 most important banking services are checking and savings accounts, loan and mortgage services, wealth management, providing Credit and Debit Cards, Overdraft services.

Why are financial services important? ›

Financial services are crucial to the functioning of an economy. Without them, individuals with money to save might have trouble finding those who need to borrow, and vice versa. And without financial services, people would be so intent on saving to cover risk that they might not buy very many goods and services.

How many types of financial services are there? ›

The finance field includes three main subcategories: personal finance, corporate finance, and public (government) finance. Consumers and businesses use financial services to acquire financial goods and achieve financial goals. The financial services sector is a primary driver of a nation's economy.

What do financial service companies provide? ›

Banks and other financial service providers

Accept deposits and repayable funds and make loans: Providers pay those who give them money, which they in turn lend or invest with the goal of making a profit on the difference between what they pay depositors and the amount they receive from borrowers.

What are the 5 types of financial institutions? ›

The most common types of financial institutions include commercial banks, trust companies investment banks, brokerage firms or investment dealers, insurance companies, and asset management funds.

Which business is most profitable for beginners? ›

14 profitable small business ideas worth starting in 2021
  • Home improvement services. In 2020, the housing market saw its highest pace of growth since 2005. ...
  • Cleaning services. ...
  • Tutoring services. ...
  • Personal training and fitness instructors. ...
  • Delivery services. ...
  • Digital marketing services. ...
  • App development. ...
  • Accounting services.
17 Mar 2021

How do you know if your business idea is good? ›

Table of Contents
  • Your Business Ideas Are Practical.
  • You're Excited About Your Business Ideas!
  • Your Business Ideas Solve an Existing Problem.
  • They're Easy to Explain and Understand.
  • You Don't See Anyone Else Doing it.
  • You See That Someone Else Is Doing It Wrong.
  • Your Business Ideas Are Scalable.

How can I start a business with no money or experience? ›

How to Get Funding to Start a Business
  1. Ask your family and friends to invest in your business.
  2. Apply for a small business grant.
  3. Use a crowdfunding platform.
  4. Pitch to angel investors.
  5. Solicit venture capital.
  6. Use a credit card for a short-term cash option.
  7. Get a microloan.
  8. Bootstrap it.
7 Jan 2021

What are the upcoming business ideas? ›

Here is the list of future business ideas in India for 2022 which have bright future for 2025, 2030 and 2050 and beyond.
  • 1) Outsourcing business. ...
  • 2) Internet of things (IoT) industry. ...
  • 3) Rise of co-working space. ...
  • 4) 3D printing. ...
  • 5) Consumer goods and services business. ...
  • 6) Business in real estate. ...
  • 7) Healthcare industry.
10 Jul 2022

Which is the fastest growing business? ›

Food trucks. Food trucks, food delivery, and other convenience-oriented dining services are among the fastest growing small businesses. The food delivery industry is estimated to reach $200 billion in annual sales by 2025.

What businesses are needed in the future? ›

THE MOST NEEDED FUTURE BUSINESS IDEAS
  • VR COMMUNITIES, GROUPS, GAMES, SPORT AND EDUCATION. ...
  • JET PACKS & FLYING ACCESSORIES PRODUCTION, SALE & RENTAL. ...
  • QUANTUM COMPUTERS PRODUCTION, SALE, RENTAL & SERVICES. ...
  • WEAPONS FOR DEACTIVATING ROBOTS (PRODUCTION AND SALE) ...
  • ROBOTS PRODUCTION, REPAIR, ACCESSORIES & RENTAL.

What is your business idea? ›

What is a business idea? Broken down, a business idea is the reason for setting up a firm. It drives everything about the company, from what products and services are offered to how these products are marketed. This idea doesn't need to be unique, but it must have the potential to capture part of its target market.

What is meant by business idea? ›

A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business. The characteristics of a promising business idea are: Innovative. Unique.

What are 4 examples of big business? ›

United States corporations that fall into the category of "big business" as of 2015 include ExxonMobil, Walmart, Google, Microsoft, Apple, General Electric, General Motors, Citigroup, Goldman Sachs, and JPMorgan Chase.

What are the unique business ideas? ›

17 unique small business ideas for first-time entrepreneurs
  • Be the head chef of your own food truck. ...
  • Become a virtual interior designer and sell home decor products. ...
  • Start a dog-walking and pet-sitting business. ...
  • Become a virtual teacher and sell memberships to an online course.
22 Nov 2021

What are business ideas and opportunities? ›

Definition of Ideas Versus Opportunities

Put simply: a business idea is a concept that could be used to make money, and an opportunity has proven commercial value.

What Makes a good idea? ›

Different/Better – For a good idea to be good, it must be at least somewhat different from something else – whatever the new idea is attempting to replace. And it must offer some degree of improvement. Otherwise, it's just an okay idea or a bad idea.

How do you describe your idea? ›

You should describe your idea in a clear and concise way and should say: what it does. how it does it. what it looks like.

How do I know if my business idea is good? ›

Table of Contents
  • Your Business Ideas Are Practical.
  • You're Excited About Your Business Ideas!
  • Your Business Ideas Solve an Existing Problem.
  • They're Easy to Explain and Understand.
  • You Don't See Anyone Else Doing it.
  • You See That Someone Else Is Doing It Wrong.
  • Your Business Ideas Are Scalable.

Which business is best for students? ›

Top 10 Profitable Business Ideas for Students
  • Tutor.
  • Sell Used Books.
  • Photography Services.
  • Food Delivery Services.
  • Blogging.
  • Organize Trips.
  • Baking Business.
  • Youtuber.
9 Jul 2021

What is the example of small business? ›

Small businesses are either services or retail operations like grocery stores, medical stores, tradespeople, bakeries and small manufacturing units.

What is the most profitable business to start in 2022? ›

Let's get started!
  • Identifying the most profitable small businesses.
  • #1. Business Consulting.
  • #2. Real Estate Agents.
  • #3. Cleaning Services.
  • #4. Social Media Management.
  • #5. Creating Online Courses.
  • #6. Start a Small Business that Makes Candles or Soap.
  • #7. Payroll Services.

Who is the best business in the world? ›

Top 40 Most Successful Businesses to Start
  1. Business Consulting. If you're an expert in your industry and have been working at it for years, you should consider consulting. ...
  2. IT Support, Technology Consulting, and Repair. ...
  3. Cleaning Services. ...
  4. Accounting and Tax Preparation. ...
  5. Auto Repair. ...
  6. Real Estate.

How do business ideas make money? ›

Latest 6 Business Ideas to Make Money Fast in September 2022
  1. Freelancing for Professionals. Freelancing is one of the options to earn money instantly, as the freelancer receives the money just after the project completion. ...
  2. Food & Beverage Business. ...
  3. Blogging. ...
  4. Boutique. ...
  5. Digital Marketing. ...
  6. Custom Jewellery.
5 days ago

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