Micro-enterprise! We hear this word a lot here and there in the mouths of young, ambitious workers. But while this legal status attracts in particular for the reduction of its administrative burdens, its opening is generally accompanied by its lot of questions.
Is it mandatory to open a professional bank account in a self business?
What type of bank to choose between traditional banks, Neo banks or specialised actors?
And, besides, it is rather a current account or a professional account that must be chosen?
What is the most advantageous in the end?
Do I need to open a professional micro-enterprise bank account?
It is customary to think that the micro-entrepreneur escapes certain administrative obligations, thanks to his professional legal status apart.
Concretely, it is NOT mandatory for small low-income activities to open a professional bank account!
If, however, you want to open one, it is important to understand why it is said professional. This bank account dedicated to your activity is strictly reserved for your business operations. It should consist only of transactions carried out in the course of the independent activity. No way, using this pro account for your personal expenses!
That is what the fight against fraud is all about. If micro-entrepreneurs with a turnover of less than €10,000 have no reason to open a business account, it can still be very interesting.
The advantages of a pro micro-enterprise bank account
Opting for the opening of a professional bank account allows first of all to see much clearer in these accounts. The management of the activity is facilitated by direct and legible access to customer/supplier invoices, which also facilitates the reminders of payment of potential latecomers.
Then, during a tax audit, all transactions are thus justifiable, without being drowned in a transaction flow mixing private and pro.
Obviously, bank contributions and fees are necessarily higher in a professional bank account, and traditional banks will tend to prefer to offer a professional account to the micro-entrepreneur for the same reason. Some will even refuse to open a current account to independent, or close a current account that has been used for professional purposes.
Fortunately, today, there are a multitude of bank offers specially designed for independents.
This is also the case with Blank, Qonto, Shine and N26 online offers. These allow a quick view of a company’s financial health and also offer other advantages such as:
Anticipating the amounts of your social contributions
Make Forecast Budgets
Understanding the turnover amount
Reduce expenses to increase profitability
Calculate easily, the compensation to be paid to keep business cash in good health.
Opening a professional bank account in a micro-maintenance business also means benefiting from offers reserved only for companies.
The arrangement of the means of payment and collection, via the establishment of a bank card or payment terminal, is thus facilitated and adapted to the activity. These offers dedicated to the professional activity are also adapted to all the specificities of a company. You therefore have the opportunity to access:
Management by the banking institution of invoices and unpaid payments
Greater overdraft authorizations
Access to professional insurance
Banking advice tailored to the needs of the entrepreneur
A precious time saving, to be more serene when reporting turnover, whether monthly or quarterly.
How to choose the right bank account for my micro-business?
With the decision to open a professional business account, then comes the debate about the type of bank:
Rather traditional?
Neo Bank?
Pro account specifically dedicated to micro-entrepreneur?
Traditional banks and micro-entrepreneurs
Even today, traditional banks are the preferred choice of self-entrepreneurs, very attached to the customer relationship, face to face. The local network and the many branches located throughout France are reassuring.
In addition, these banks provide their clients with professional accounts accompanied by a complete banking offer.
Access to a bank card, cheque and cash deposit and savings solutions are easily accessible.
As friendly as the banker on your current account may be, traditional banks can nevertheless present some major disadvantages.
Indeed, by choosing this type of bank, account fees, which are often significant, have a real impact on the turnover achieved. This may be worth some unpleasant surprise. The opening formalities are long and complex.
Finally, proximity to physical agencies can be convenient on paper. Most of the steps, however, will have to be done in an agency, which potentially wastes the independent’s time.
Online banks and micro-enterprises
Regarding online banks, also known as neo-banks, they are more adapted to the economic reality of micro-entrepreneurs. That is why they offer offers only online. The steps taken on the Internet are much faster to be processed. Especially since it is now possible to perform them directly via a mobile application.
Another important point: the rates are more advantageous than those offered by traditional banks.
But, like all good things, banks have limits, and with online banks, certain constraints also point the tip of their noses. Indeed, some online banks limit the number of transfers, make paying the cheque deposit or grant a foreign IBAN that complicates the telepayment with the administrations.
Specialized banks for micro-enterprises
Finally, those specialised in micro-enterprise business accounts may still be the best current solution on the market. They offer many advantages to their professional customers.
Take the example of TIDE PRO , a partner of Bumbizz.com. The principle is clear even in the website’s motto:
“the pro-smart account that gives the independents a bankable card”.
With specialist players like TIDE PRO, opening a professional account only takes a few minutes. The time to enter directly on the internet or via the mobile application available: its identity, the information of the micro-company until the reception of the bank card.
Last but not least, TIDE PRO is a subsidiary of the REVOLUT PRO group, the leading bank for online professionals. And, the latter has a question/answer service, accessible 7 days.
Moreover, advantageous services do not stop there:
Business account with Visa Business credit card
Tools to simplify accounting with the help of an available accountant 5 d/ 7 d
Automated monthly or quarterly URSSAF reporting
A comprehensive insurance service (hospital guarantee, equipment order guarantee, etc.)
What gain in speed, flexibility and serenity while keeping the human side very appreciated by the independents.
You want to start your own business but you don’t know yet in which sector of activity? That choice is quite difficult, I grant you. Especially since some sectors are very competitive.
If it is today rather easy to develop and promote an activity on the internet, it is still necessary to find the right product or service to sell. Fortunately, 2023 is opening up to new trends, allowing new needs to emerge.
Here are 15 activities that could quickly become profitable.
1. Virtual reality
Between 2021 and 2022, sales of VR headsets and augmented headsets grew by 150%! According to GlobalData, this market will weigh $51 billion by 2030. A real opportunity for budding entrepreneurs.
Companies in this sector are looking to offer ever more efficient products to immerse users in the most realistic immersive experience possible.
The uses of augmented reality cover many areas:
Cinema with the appearance of 3D films
Real estate where agencies offer their clients to visit their future home or apartment in VR
E-commerce where you can try RV products
Video games
Training: UPS has launched training programs for delivery drivers based on augmented reality
Etc.
This technology for the future and innovations are constantly emerging. It is up to you to contribute your ideas and knowledge.
2. Web development
In the digital world, developers have nothing to worry about. Many companies are looking for these digital specialists to ensure their development on the Internet.
Because while some CMS like WordPress tend to make the creation of a website accessible to everyone, it is often necessary to have code skills to develop specific elements.
Becoming a web developer is a profession that can easily be practiced remotely, from your home. And to find your customers specialized platforms exist, including Bumbizz.com.
You can also start your business in one of the other technology activities such as:
IT Security Specialist
Database Administrator
Network administrator
FE
Etc.
3. Teaching
If you are an expert in a field, why not share your knowledge? Whether it’s younger people or adults, many people are looking to diversify their skills.
Developing your business in this sector is relatively simple and requires little investment.
You can start by creating an e-learning site to offer your online training. By developing subscriptions and regularly expanding your training panel, your business will quickly become profitable.
4. Translation
Companies have understood the importance of being visible on the web to attract new customers. Moreover, to increase their sales some do not hesitate to develop their presence internationally.
However, this internationalization requires appropriate communication. The content often needs to be translated into English, but also into German, Spanish or Italian.
In short, translation requests explode! If you are fluent in a second language, do not hesitate to offer your services.
Here again the development of your activity will require little investment. Create a site and promote your activity on social networks, or start a business.
In parallel, register on Bumbizz.com. We will put you in contact with clients with translation needs for free.
5. Social media
Social networks are a privileged channel of communication for many companies. These platforms are also the best way to stay in touch with their customers.
The problem? Developing a faithful and committed community is not as simple as it seems. This is a work that requires time and the intervention of experts in social network management is increasingly in demand.
If you are an expert in this field, it is high time to start your business! And to find your first customers, visit Bumbizz.com.
6. Dropshipping
In the field of online sales, dropshipping is one of the most profitable models, while offering low risks. No investment is required to build a stock, as it is stored by your supplier(s).
Indeed, the principle is simple: you play the role of intermediary between buyers and manufacturers or wholesalers. As soon as a customer places an order on your site, you place it with the supplier and he takes charge of the shipment.
It’s simple and fast, you only have your e-commerce interface to manage (as well as marketing and communication). No cost of production, maintenance of stocks, unsold items, packaging and shipping of products.
Creating your dropshipping business takes a few clicks. There are even all-in-one tools that make it easy for you to create this type of merchant site, such as Shopify or Dropizi.
The key to success is to find responsive suppliers, who offer original products, allowing you to enter a niche market. Ideally, choose French or European partners, who offer fast delivery times and quality items.
7. Subscription boxes
As with dropshipping, subscription boxes are an effective way to sell products without creating them. For this concept to work, your boxes must contain complementary articles, linked by a theme.
You can, for example, highlight merchants and manufacturers in your area to create local boxes. You can also opt for unifying themes such as yoga, pets or music.
Subscriptions allow you to have a recurring revenue stream and stable revenue. You also have the possibility to diversify your boxes or to offer special editions, to reach new audiences and retain your consumers.
8. Sports accessories at home
With the health crisis, home sports became a trend. Even if life gradually resumes its normal course, this practice remains anchored in many households.
The home sports market is a niche on which you can easily place yourself. Among the products to offer, you will find: weights, jump ropes, floor mats, dumbbells… You can also choose an even smaller niche, combining sport and technology, by selling electrostimulation belts or vibrating platforms, for example.
To ensure the success of your store, you can rely on influential marketing. There are many fitness influencers who like to share their passion and discoveries with a receptive community.
9. Print-on-demand
T-shirts, caps, phone cases, hoodies… You can create 100% personalized products with print-on-demand. Let shoppers suggest designs to you or work with graphic designers to propose original creations, to flock on clothes or accessories.
No need to install a workshop in your garage, you can entrust printing to a service provider, like Spreadshirt for example. However, try to find your “touch”!
To stand out, you have to offer designs that stand out and surf on a trendy topic or a small community, like this shop that proudly displays its love for the Creuse:
10. Virtual event organizer
The organization of virtual events is growing by 23 % par an. Boosted by the health crisis, online events are finally settling in permanently… It must be admitted that they have many assets! More economical and easier to organize, they are also part of the advent of metavers.
Party.Space, for example, raised funds to develop its virtual event planner activity in the metaverse.
There will therefore be a niche to occupy, as organizer/coordinator of virtual events! Although these are easier to implement, they require prior preparation to meet the company’s objectives. You could be responsible for creating virtual conferences, networking and training sessions for companies around the world…
11. Men’s beauty
More and more men are using cosmetics: moisturizer, BB cream, foundation… According to the NPD research group, sales of men’s care products increased by about 15% in 2022. The market is expected to reach 160 billion euros in 2023, thanks in particular to subscriptions to shaving kits or toilets.
If you want to start selling men’s cosmetics, this is a niche to consider. And if you are afraid that the market is too small, you can opt for unisex products.
Recent brands such as Nostra, Aesop and Kiehl’s have opted for gender-neutral formulas and packaging. Their products can be used by both men and women. These brands prefer to focus on the composition and benefits of products… and it works!
This is Nostra’s online store. We find that the products have sparkling and fresh colors, without gendered markings (no pink or pastel colors for women, and blue or black for men, for example):
12. The publishing of podcasts
The podcast market in France is 200 million listens a month. More and more content creators are launching their programs. You can take advantage of this trend to earn revenue, especially if you are proficient in audio editing tools.
Indeed, mounting and editing podcasts takes a long time. Companies and influencers who use this means of communication will be happy to free themselves from the hours of editing, if someone can do it for them!
It is still a niche market, on which you can easily make your place in 2023.
13. Domain name investor
Did you know that it is possible to invest in domain names? Some URLs can become valuable, especially if they contain important SEO requests, a corporate name or the name of a fashionable personality. And when we talk about value, it can be millions of euros! Tesla’s domain name cost more than 9 million euros…
The domain names in which to invest must be short, memorable and marketable. Start by searching for potential and affordable domains on auction sites. Buy multiple names at the same time to increase sales prospects. You can also bet on terms with local keywords.
Then, create a homepage for the domains you want to sell or contact potential customers directly, especially if the URLs have a link to their business.
14. Cybersecurity
According to the Euler Hermes barometer, 2 entreprises sur 3 have experienced at least one cyber attack attempt in 2022. If there is indeed a growing need clearly identified by businesses, it is cybersecurity.
Whether as an IT security engineer or as a consultant, you will be responsible for detecting vulnerabilities, identifying vulnerabilities beforehand and protecting businesses. Threats that have increased with the COVID crisis, as well as the adoption of telework.
With the digitalization of every aspect of everyday life, a freelance specialist in cybersecurity can survive in the long term. Finding first customers will therefore not be difficult!
15. IoT
By 2025, the Internet of Things (IoT) industry is expected to generate nearly 10 000 milliards d’euros (no, this is not a typing error…). Televisions are now connected, as are appliances and entire homes!
Even if you can’t produce these items, you can sell connected products that look revolutionary, like:
Smart clothes: there are jackets that answer the phone, swimwear that remind you to wear sunscreen, ballet slippers that help you perfect your choreography…
Connected everyday objects: a trash can that helps with sorting, a connected outlet that monitors your energy consumption, a connector to place on the OBD port of your car to save fuel…
Sports accessories: a sensor to be installed on a tennis racket to analyze its performance, a smart basketball that evaluates trajectories, connected ski goggles, etc.
How to choose an e-commerce idea that works (infographic)
Before embarking on e-commerce, it is necessary to find a range of products with little competition or a market in which improvement remains possible.
The ideal equation? Sell the right product at the right time in a promising market, while implementing a high-performance marketing strategy. However, with the growth of online stores (over 200,000 active merchant sites in France), it is becoming increasingly difficult to find a niche to exploit.
That’s why Bumbizz offers you the infographic created by the agency « A Better Lemonade Stand », which identifies the main issues that an e-merchant needs to address in order to determine a successful e-commerce business idea.
Market research: a prerequisite
Knowing the size of the market you are targeting is a prerequisite. The smaller the market, the more targeted your ads will need to be. However, choosing a niche that is too small will make it difficult to find customers and encourage them to make a purchase.
In addition, you will need to identify the distribution networks of your product idea. Indeed, offering consumers products that are easy to find at the local supermarket may not interest them very much!
You must also be able to define the target market for your merchandise. Keep in mind that some categories of people are still reluctant to make online purchases (even if this phenomenon is becoming rare). Also note that if your products are for minors, chances are they don’t have a credit card…
You must also have a thorough knowledge of your competitors. If they have been present in this market segment for a few years, this implies that the latter is stable and therefore does not present much risk. However, ask yourself if you can make your place among them?
The price of products
It is important that you have a clear idea of the price at which you will sell your products. The infographic informs us that for a successful e-commerce, the price of your items must be between 70 and 150 euros. Offering a lower price would result in a relatively small margin. However, if it is more than 150 euros, consumers are likely to be suspicious.
Inventory management
Inventory management is one of the most important issues facing e-merchants.
To ensure your idea is viable, you must negotiate with your (potential) suppliers to agree to sell you the minimum quantity of products. The time to be sure to have the necessary customers to listen to a maximum of stock and be able to increase the quantities ordered.
When opening an e-commerce site, it is essential to take into account the obsolescence of products. Indeed, some of them, such as smartphones, tablets are constantly evolving. Your stock must therefore be renewed permanently without guarantee to sell your products already stored
Your motivation and personal commitment
Transforming an e-commerce site into a true success requires time, money and a strong commitment. If you are not passionate about the market you want to position yourself in, there is little chance that your online store will be profitable.
Defining a sales strategy that sets you apart from the competition is an essential step in your approach. Have you thought about the type of customer service you will offer? Do you know your added value compared to your competitors? You need to address these themes before you head down.
Knowing the profile of your potential buyers is also crucial to implement your marketing strategy. It is thanks to quality communication, propelled at the right time, on the right channels, that your e-commerce will become a success.
For this purpose, be able to surround yourself with competent professionals to help you find the best idea and develop it! To do this, find experienced freelancers on Bumbizz.com. They will allow you to turn your idea into a real project.
Bonus: Bumbizzr.com offers you a free white paper to give you the tips to succeed its e-commerce site.
Our tip
Whatever you choose as a new activity, study the potential revenues as well as the costs associated with starting your business.
Visit Bumbizz.com to post your project and receive quotes from freelancers to help you start your business now.
Freelancers account for 35% of the global workforce. More and more companies are working with independents to strengthen their internal skills or expand their team.
You still have some reservations? Discover 19 reasons to work with one or more independent service providers through the two highlights of this article:
9 signs that you need a freelancer
When you start your young business, you are often alone in the driver’s seat. You don’t necessarily have the means to hire someone.
However, eventually you will need to be supported. How do you know the time has come? Here are 9 signs that it’s time to hire a freelancer!
1. You cannot take on new customers
The survival of your business depends on your ability to attract new customers each month. If, for a few months, you can no longer achieve this goal, it should be a warning to you. You may have reached your work limits. In fact, you need to use the knowledge and fresh eyes of an outside person to achieve your sales goals.
2. You can no longer meet deadlines
Being alone on board is effective as long as the workload is manageable. However, as your business grows, you will quickly become overwhelmed! Missed deadlines can cost you money. In addition, you will increase your stress and have to encroach on your relaxing hours, weekends and family time. You won’t last long at this rate!
It is time to say stop before doing a burn-out and especially, to have to refuse customers. Consider an hour to list the tasks that take time and can be delegated. The longer it is, the more urgent it becomes to call on a freelancer to relieve you. Learn how to delegate to a freelancer, to regain a «normal» rhythm and increase your customers’ satisfaction.
3. Preparing a multi-channel campaign
Developing an advanced marketing strategy is a challenge you can’t do alone. A campaign that will take place both online (on many channels) and offline requires perfect coordination and above all a lot of technical knowledge.
Using one or more freelancers is necessary to run a campaign on social networks, in the press, with influencers or street marketing.
4. You set out to conquer a new market
Launching your business in a market that is brand new to you is a good reason to offer external resources. Your marketing strategy, which has worked so far, can be ineffective with a new target.
What you need is a freelancer who is particularly proficient in this new market and who has experience in business development.
5. You have an urgent project and no staff available
In the life of a business owner, there are sometimes large contracts that suddenly fall apart. It’s rare, but it’s great! However, this will inevitably upset your organization and your employees are surely already busy full-time.
Now is the time to hire one or more freelancers to absorb the extra work and satisfy this important new customer.
6. You have one-time needs
Need a graphic designer to work on your blog visuals? Looking for a virtual assistant to manage certain tasks? Want to animate a Facebook page? Need 4 blog posts per month?
All these benefits require only a few hours a month and a full-time employee would not be profitable. Of course, there is halftime, but if you want to reduce expenses during off-peak periods or test the usefulness of a service, this type of contract is not suitable either.
This is the right time to find an available freelancer! Depending on your needs and your budget, he will be able to offer you a suitable package. You will then be free to increase or decrease his hours.
Pssst! All these freelance profiles are on bumbizz.com !
7. You need specific expertise
For your development or to meet the specific expectations of one of your clients, you may need a special skill. If the case is rare, then this is the time to call on a provider.
Many freelancers are specialized and offer their unique skills to companies that wish to add this exclusive know-how for a defined period of time.
8. You are introducing a new business model
At the end of each year, leaders decide on new directions for the coming year. If a radical change in the business model is decided, a change in marketing strategy must follow.
Bring new blood by asking for the expertise of a freelancer who can approach these changes from another angle, but also bring the missing skills to launch this new business model.
9. You have profits to reinvest in business development
You have found your cruising pace, the contracts are regular and your financial situation remains stable. The problem is that to grow the client portfolio and your revenue, you need to free up time and rely on complementary skills.
This is the time to call on a freelancer to support you in your daily missions!
Read also: 6 questions to ask a freelancer before recruiting them
Why work with a freelancer?
1.The freelancer is motivated
Today, there are 3.2 million freelancers in France. Some of the best specialists recognize that they have a sought-after skill and want to bring it to potential clients. These experts are trained in fast-growing fields such as AI, data science, SEO, digital marketing, etc. While being attracted by the freelance lifestyle!
They are therefore motivated to change their lives, become independent and live on their main skills, by selling their services to small and medium-sized businesses.
2. Freelance understands your needs
A freelancer is first and foremost an entrepreneur, like you. He knows the importance of meeting your development and growth goals.
Working with an independent means working with someone who has an entrepreneurial spirit and a work culture close to yours.
3. The freelancer is qualified
As has been said, freelancing is increasingly being adopted. This means that competition is increasing.
To remain competitive, freelancers constantly specialize and train themselves on the new challenges of their profession. Skills, knowledge and the right tools are their capital.
Working with an independent contractor means having in-depth and constantly updated expertise
4. The freelancer accompanies you
As freelancers multiply contracts, they have accumulated valuable expertise for the development of your business. So they’re not just doing their job.
They can take a fresh look at your business, provide expert advice and support you more broadly in your growth goals.
5. The freelancer has professional tools
In addition to his qualities and experience, the freelancer uses his own material. Your company does not need to invest in new tools to achieve its objectives, as they are often included in the offer offered by the freelancer.
6. Freelance focuses on results
Why hire a freelancer? Because they are paid to achieve a specific goal. Its productivity is often measured by the work performed each day (or during the mission). He knows that without success, the contract will be broken.
To this end, the self-employed give their best to meet your expectations.
7. The freelancer offers a high level of expertise
With the freelance, you can offer yourself a high level of expertise. You can, for example, work with a highly qualified software developer to create a complex application, or use a recognized social media manager to take your community management to the next level.
At each mission, you decide what level of expertise you need.
8. The freelancer justifies his results
In addition to offering quality work, freelancers justify their results. It is the key to show customers that they are fulfilling their mission, in order to satisfy them (and retain them).
At any time, you can see the progress of their work, as well as the benefits.
9. Freelance helps you grow your business
Do you have expansion plans? Whether in your country or abroad, you will be able to tap into the network of your freelancers! This means it may take you less time to implement your strategy.
Similarly, you may not be able to afford to hire staff immediately. Freelancers can help you get started and even test a project before hiring a salaried team.
10. Freelance is flexible
This may be the less exciting part for the freelancer but, for the company, it’s a big advantage! In the event of a change in your activity, the independent service provider can adapt by revising its offer upwards… or downwards.
You can even stop the collaboration quite easily, either because of a bad relationship with the freelancer or a sudden decrease in your activity.
Conclusion
How to choose your service provider? Preferably, choose a freelancer who will perfectly complement you with skills and knowledge that you do not possess. He will be able to take over on missions where you are not comfortable or that you cannot take currently.
Ready to hire a freelancer? Post an ad with your needs on bumbizz.com or find a qualified freelancer via the directory!