One of the major contributing factors to the high unemployment rate across the globe is the lack of business ideas and innovations among most people. After graduating from the University, most people prefer to be employed instead of starting their own business. Yes, starting a business is never easy, as there are several hurdles to cross, including competing with existing businesses and raising the necessary funds.
With that being said, there are several business ideas for starters and investors including those in the engineering field. From household power needs to agriculture mechanization, both homes and industries require innovative engineering solutions to meet current needs. While the aviation and power generation industry requires efficient and reliable turbomachinery control systems, homes off the grid need solar panels for power. Like learning how to start a hostel business, here are 10 business engineering startup ideas.
Solar panel manufacturing and Installation
As world leaders race to save the world from the pending dangers of global warming, green energy campaigners have increased calls for a green energy revolution. This has increased the use of renewable sources of energy for power generation and solar penal is in the lead. So as an electrical engineer, you can venture into the production or installation of solar penal for businesses, homes, schools, etc. you can first focus on towns and villages that are not connected to the national grid.
Automobile Repairs
Engineering is more of fieldwork than sitting in an air conditioner at an office, although some aspects require that. As a mechanical engineer, you can startup an automobile repair business. This is undoubtedly a great business idea because as the number of vehicles keeps increasing on our roads, the need for repairers is also increasing. As the automobile industry is a highly innovative sector, you have to be also abreast with new vehicle models like electric cars and motorcycles.
3D printing
3D printing (here-dimensional printing) has become very popular due to the detailed work it produces. This additive manufacturing process allows you to create a real physical object from a digital design. There aren’t many people in this field due to the high cost of the machines used for the process. If you have enough capital, you can venture into 3D printing and you will never regret it.
Recycling
One of the biggest challenges confronting the world now is how to deal with electronic and plastic waste. Most governments are collaborating with researchers to find innovative ways to recycle these wastes into other raw materials. Engineers can take advantage of this to either produce high efficient recycling machines or venture into the recycling itself.
Household gadgets manufacturing
Manufacturing of household appliances requires huge investment, but you can always enter into a partnership agreement with a manufacturing company for this venture. You will design the product and the company will produce it. You can start from highly sort for products that demand less technological advancement. To be in business and stay competitive, you need to produce high-quality products.
Aluminum building materials
Aluminum fabrications have become very popular in the construction industry. As an engineer, you can start with the production of security windows and doors. All you need is to make them durable and fashionable, and marketing them wouldn’t be a problem.
Consultancy
Many of our daily life activities and the things we use are engineering related. From the construction of roads, and building of homes, to transportation, engineers have a say in many fields. Therefore, setting up a consultancy will enable you to discharge your professional abilities to companies and individuals that need them. You can also take up research works and later sell the idea to industries.
Teaching
If you are interested in teaching and have the requisite skills and qualifications, you can apply for a teaching job at a high school or college. You can also start an engineering online class where students can learn in the comfort of their homes.
Developing smart products
Life is becoming easier and more comfortable with the innovations made in the production of smart products. When integrated with a smartphone and availability of good internet service, you can control your smart devices virtually. So experienced engineers can venture into the development of smart device hardware or come up with new designs. You can join an existing company who are in this field or design and sell your idea.
Conclusion
Before starting any business, ensure that you have passion for it and you can stay dedicated to it matter the challenges. You don’t always have to start it alone. Sometimes, you can join others with the same interest and dreams as yours to start a joint business. If you don’t have enough funds for the business, start a partnership with investors who will pump money into your ideas.