Business Development Canada states that while economic growth slowed down to 1.5% in 2019, it can improve in 2020 with a slight increase. Businesses have significantly been impacted due to COVID-19 and the uncertainty it brought with itself.
However, we see an increase in small businesses in Niagara Falls. A lot of the general workforce is home-bound, and some are taking the opportunity of creating a home-based business or coming up with unique startup ideas to make a living out of their passions.
If you’re someone who is a little more careful with what you want to do and live around the Niagara region, we have listed the following startup ideas in Niagara Falls that will help you scout business opportunities and make use of the potential.
1- Waste Management
Canada has a growing economy. Accumulation of waste becomes an increasingly unavoidable by-product of this. Businesses expand, they increase their production, and usage of raw material becomes tenfold.
More paper gets used, old electronic devices are replaced with newer models and a lot of construction debris from the expansion of office spaces. This means there is a mine of materials like metal, paper, reusable plastic, wood, and so on.
Of course, it is hardly good for the environment, and since climate change has become a buzzword in all industries, businesses too have become conscious of the waste they generate. This has led to an increase in places looking for waste management companies.
For entrepreneurs like yourself, the opportunity to do something good for the planet and make a nice profit while doing so has increased. Creating a startup in this industry will only lead to a positive impact as waste is never going away; rather, it sadly keeps increasing.
2- Fitness and Recreational Sports Centers
If you’re passionate about fitness, have had personal goals that you’ve been able to reach, or maintain a routine that keeps you fit, then this industry is the most relevant for you. You can turn the thing you love into a lucrative small business.
Be it CrossFit, kickboxing, yoga or MMA, or some other trend going on, you can pick out the adequate location for your business, invest in some marketing tactics, gym equipment, and you’ll be able to make a sizeable income for yourself.
The Canadian Government reported in 2015 that around 70% of the fitness and recreational sports centres were successful in their ventures. The industry does require a lot of dedication and hard work, especially physically, which means you will have to bring your a-game when you start such a venture.
3- Electric Car Charging Stations
Electric cars have taken the world by storm. Youtubers, Instagram influencers everyone seems to be driving a Tesla or another electric car. of course, the world has also become more environmentally conscious, plus the cars save a lot of money in the long run.
However, while people are catching up, the infrastructure isn’t. When there are few charging stations sprinkled all over the state, it stops people from purchasing such cars. You can start by getting contracts with condo developments to install a few electric car chagrining stations with the ability to charge people by the minute.
You will need a good sales pitch, the hustle to go through with your venture and make it a profitable business idea.
4- Cyber Insurance Company
With COVID-19, cyber-attacks are likely to become more frequent. It is one of the highest threats to small, medium, and large businesses when it comes to technology. It can affect a company’s revenue generation and financial return.
Add to that the business’s image suffers greatly. If you’re someone with a background in Computer Science, knowledge about insurance, good interpersonal skills, and be able to market your businesses, this should be a piece of cake for you.
Starting a cyber insurance company, you can cater to companies that incur losses due to these types of attacks and insure these losses. This company would, however, require a large investment to get started, but the output too would be greater.
To make your business unique and appeal more to the public, you can affiliate with charities or NGOs. You can take a look at our website Cultivating Hope and donate to be a part of this social cause.
5- Hydroponic Vegetable Gardens
Community gardens are famous for providing space for neighbours to grown fresh, healthy food close to home. Such gardens improve food access for everyone. Even more so, they act as places for community engagement, places to learn, sites for restoring and building health.
Advocates for community gardens in Niagara Falls have tried to convince the province to declarer shared food growing plots as essential services. But, our Canadian winters limit these methods of agriculture.
We, at the Cultivating Hope Foundation, are redefining farming in Canada with hydroponics.
Below we have listed community benefits of hydroponic vegetable gardens to elaborate on how these are essential. Hydroponics is a technique of growing plants without soil and the limitations of space and climate. Niagara region is an ideal location for its business because of the proximity to lakes and flatlands. A lot of companies also utilize state of the art facilities and several environmentally friendly techniques to grow their produce. The water is often recycled for reuse.
a) Fighting Food Insecurity in Niagara Falls
Food insecurity is signified by having a lack of access to adequate food because of limited money or the money being used to other essential needs. The lack of food security is a significant issue in Niagara Falls and is linked with inflated healthcare costs.
Residents that live in areas with limited access to healthy food can improve their quality of life through these gardens. Poor nutrition and obesity are both challenges to low-income neighbourhoods. The addition of these gardens may improve nutrition and increase the consumption of fruits and vegetables.
Plants use a great deal of energy to search for water in the soil to grow root systems. Hydroponics allows plants to grow up 50% faster as they have readily available nutrition.
b) Hydroponics Make Better Use of Space and Location
As plants are provided and maintained in a system that does not require a lot of space, most hydroponic gardens are space-efficient. Plants’ roots tend to expand and spread out in search of foods and oxygen in the soil.
This is not the case with hydroponics, as they are sunk in a tank full of oxygenated and nutrition filled solution. The roots are in direct contact with vital minerals. Thus you can grow plants much closer and with huge space-saving.
This means the fruits and vegetables grown in a hydroponic vegetable garden are more efficient as they can help more communities with less space involved.
c) Water-Saving and Environmental Consciousness
Plants that grow hydroponically only use 10% of the water compared to how much is used in the field. Water is recirculated. Plants take up the water they need and leave the rest, which is captured an returned to the system.
While in soil water is absorbed, here, water is only lost through evaporation or leaks, which can both be avoided. With climate change on the rise, water is likely to become a critical issue in the near future. Food production, too, will increase, and land availability is becoming a precious commodity
Hydroponics can work to help communities become more environmentally conscious and adopt a sustainable way of living.
d) Sense of Community
Perhaps the biggest benefit of community gardens in Niagara Falls is, in fact, the community. By creating such a space, people end up gathering, conversing and exchanging numbers with each other for future interactions. This attributes to building a sense of community that can otherwise be lost.
When you provide a space where everyone is welcome to contribute, it creates, one by one, a whole that serves together all benefits to the community. A community garden draws members of neighbouring areas. They provide the opportunity to meet, work beside and even form friendships with people who might live down the street, but you haven’t had the chance to meet.
e) Hydroponics: A stress-relieving Hobby
Of course, much like any gardening hydroponics, too, will put you back in touch with nature. Within a community garden system, you can visit it every day, at the end of a long workday, or just a quick visit to the neighbouring garden.
There are a lot of benefits of hydroponic vegetable gardens, but the high yield produces as well as healthy plant growth, is sure to be on top of the list. You can enjoy a relaxing time within the garden, just even interacting with plants and breathing in the fresh air can help feel less stressed.
f) Pesticide Free
Because hydroponic systems are typically self-sustained and closed system, the usual gardening problems like weeds and pest are not of concern. Therefore, there is no need to apply herbicides or pesticides and thus creating a healthier product for the consumer.
Starting a small business, especially if you’re someone new, will be daunting. But it does give you more autonomy to be in charge of your finances, success, and growth. As a resident around the Niagara region, we hope that one of these startup ideas in Niagara Falls will help give you the push you’ve been waiting for.
Hydroponics has great potential, and the market for them is going to expand dramatically in the coming years. Adopting this form of gardening for communities will be beneficial in the long run.
If you’re interested in understanding the community benefits of hydroponic vegetable gardens, visit our website Cultivating Hope.ca, as we are working towards a sustainable solution for homelessness and are always on the lookout for volunteers or donations.