5 Most Profitable Small Businesses to Start in 2023

In this article, we look at the 5 most profitable small businesses to start in 2023. You can find our key tips about branding and promoting your new business by heading over to our article, the 20 Most Profitable Small Businesses to Start in 2023, where we have also discussed the criteria to be categorized as a small business.

5. Bookkeeping

Net Margin: 19.62%

Accounting or bookkeeping services are among the most profitable small businesses to start, with a net margin of close to 20%. As of September 2023, bookkeepers, on average, earn $50,000 per year, with great potential for growth if you acquire further qualifications and specializations. Moreover, setting your business as a limited liability company can further enhance the profile of your business.