Unlike business-to-consumer (B2C) businesses, business-to-business (B2B) transactions take place between two business units. These transactions can happen between a manufacturer and another manufacturer, or a wholesaler or a retailer. B2B transactions are typically higher in volume and in value than B2C transactions.
Here are five hot B2B opportunities:
Computer hardware and software: Computer hardware and software has been a hot B2B sector for some time and it still continues to shine. Included in this category are the businesses dealing in graphics cards, hard drives, modems, monitors, servers and other computer hardware. Or, you may venture into software. In this segment, you develop software to help other businesses. You can also choose to set up business for providing services such as SEO, coding and testing, to other businesses. The computer hardware and software segment is conducive to both small- and medium-size enterprises. Choose the scale of your business according to your bandwidth and available resources.
Transportation services: This category also provides great opportunities for setting up a B2B venture. Under this category, you can provide transportation services for other businesses. Other than transporting goods or employees, you can also provide repair services for business vehicles. You may also deal in navigation systems for businesses. Possibilities abound in this niche, and you can choose to deal in one or more sub-categories. You can pick your niche according to your expertise and the resources you have.
Construction: This sector may seem highly specialized and capital intensive, but like other top B2B segments, even this segment offers much flexibility and different options. You can deal in construction tools or building materials, such as tiles and concrete. Other options are to deal in fireproofing material, soundproof material, prefabricated structures or building apparatus. You can also provide specialized services, such as roofing and plumbing. Upcoming areas are sustainable construction and building automation. You can choose to specialize in construction of energy conserving or low-impact buildings.
B2B social media sector: B2B opportunities are not limited to old-school businesses. You can also start your B2B venture in new emerging segments, such as online social media. Under this category, you can start your consulting business where you help other companies and businesses maintain their online presence and reputation. Such consultants can also help other businesses interact with their customers in a better way.
B2B e-commerce: Most offline B2B business ideas can be converted into online business opportunities with a little planning and moderate investment. You can pick any of the previously mentioned opportunities and create an online business. You will need to invest in website design and a good user interface.