Investing in agriculture can be lucrative for every investor looking to invest in long-term payoff outside the stock market or real estate business. The demand for food and other farmed commodities will always be present and increasing.

Investing in agriculture is a good move for savvy investors who want steady returns. It is also an excellent investment for those who want to diversify their portfolios. It has been estimated by the year 2050, economic and population growth will result in the highest demand for food and commodities in history.

Also, in the last 20 years, there has been more interest in organic foods without modifications which has added extra demand for free of pesticides and is not genetically modified. This type of demand is expected to continue to grow in the next thirty years, as well.

How can you invest in agriculture?

There are numerous ways through which you can invest in agriculture. You can invest directly into an agriculturally based business or mutual funds related to agricultural companies. You can invest in farmland yet to be developed with future development possibilities. Also, you can invest in commodities traded on the stock market.

You can buy or sell futures for crops such as rice, wheat, sugar, and soybeans using Exchange Trade Funds (ETFs), which are traded like stocks. ETFs follow a product’s value making this type of investment easy and profitable.

Commodity investments are risky and affected by innumerable variables such as severe flooding, droughts, or other random acts of nature. These disasters could result in seasonal losses. However, in most cases, these setbacks are overcome and result in high and steady returns.

Purchasing stocks in farming supply or food production companies, or agricultural mutual funds offer a more traditional agriculture route. Although the potential profits and values will correlate with the overall industry trends, this type of investing will generally have great returns.

Investing in Agriculture is Good for All Generations

Millenials

Investing in real estate or the stock markets is the most common investment option for newer investors. However, both markets have endured significant volatility and are considered over-hyped by numerous investment experts.

Hence, Millennials need to consider other investment options. Investing in agriculture, especially in harvest-yielding farmland, allows them to hold a complex resource or asset, which will give them great returns well into the future.

Generation X

Generation X is moving toward retirement, and many have likely been investing for years. Because of this experience, the Generation X investor is moving towards less risky and safer investments. While the agriculture business does carry some risks, it is considered a safer investment because food and commodities will never be obsolete. Because of the years of foreseeable demand, agricultural investments are perfect for Generation X investors.

Baby Boomers

Baby boomers are currently retiring at the rate of around 10,000 per day in the United States. Many don’t have enough saved for their retirement because of a lack of preparations and the stock market fail of 2008 and 2009. They are searching for safe investments that could produce consistent annual returns to top up current pensions.

While different agriculture investments take approx. 5 to 20 years before producing returns, there are agricultural investments with returns within two years of investment. This quicker turnaround on investment makes some agricultural investments perfect for the Baby Boomer.

Conclusion

Based on several variables and analysis, it is clear that investing in agriculture is far less risky than real estate or the stock market. The reason for lower risk is that food and commodities will never be obsolete, and as the population and economy grow, so does the demand for both.

You can wholly invest in agriculture or use it to diversify your portfolio. However, investing in agriculture is a good idea for every severe investor, no matter their experience or age. Whether you are looking to invest in your future retirement or fund your current lifestyle, agricultural investments will provide a reasonably safe and steady return on investment.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Auto Maintenance and repair can be an expensive endeavor. Most people find it challenging to find a good and honest mechanic. Many mechanics will make up repairs that don’t need to be done to make more money from the transaction. Those mechanics that do this count on the fact that most people don’t know much about cars. Here is everything you need to know about auto repairs.

Find a Licensed Shop

All automotive shops should hold an automotive repair license. Most people will do an internet search to find a shop. However, before taking your car to the location, you should do some research. Once you arrive at the shop, you should ensure that the state-issued license is clearly displayed.

Having an automotive repair license does not guarantee the work. However, an unlicensed repair shop will be more likely to be shady in the transaction.  

How to Find a Good Auto Repair Shop:

• Take recommendations from family and friends and others whom you trust.
• Search for a repair shop before your car needs repairs, so you are not rushed.
• Shop around online for the ideal auto repair shop using their website and reviews.
• Check with the Better Business Bureau to ensure the shop is in good standing.
• Ensure the shop will honor your car’s warranty if you still have one.
• Ensure all technicians employed at the shop are licensed and have a good reputation.

Understand Repairs and Charges

Before agreeing to any repairs, you should know upfront what the auto repair shop charges for labor per hour. Once the technician identifies the issue(s), they will give you an estimate of the repairs. Do not agree to the repairs and costs until you research the repair yourself.

The number of hours a repair takes is not literal hours. There is a standardized manual put out by manufacturers that lists the flag hours each type of repair will take. If the mechanic takes longer or finishes sooner, the number of hours charged will be the number of flag hours determined for that repair.

To ensure you are not charged more than you should be, ask the technician to tell you the repair name, look up the flag hours with the manufacturer, or ask the tech to show you the flag hours. You can also look up the general costs of parts so you can ensure the estimates are accurate.

Always ensure you get the estimate in writing once you accept the repairs and estimate. Also, ensure that no other work will be done before you approve it, so there are no surprise repairs or costs when you pay and pick up the vehicle.

Get a Second Opinion

If you are getting reasonably standard repairs, you may not need to get a second opinion. However, if an unfamiliar shop or technician recommends costly repairs or brings up unexpected repairs, you should get another shop and technician to look at your vehicle before you agree to any repairs.

It is in your best interest not to advise the second mechanic of the repairs suggested by the first to ensure there is honest concurrence. Once you have two independent technicians agree about the repairs, you can proceed to have the work done with a signed and written estimate for the work.

After the Work is Complete

Obtain a finalized repair order explaining the work done. It must list every repair done and partly provided, the final cost of every repair and part, the vehicle’s odometer reading, and labor charges.

Protecting Your Auto Repair Investment

Warranties

There is no standard warranty for repairs. However, you should enquire about part warranties and labor guarantees before agreeing to the repairs. Ensure that all guarantees and warranties are in writing. Understand the warranty restrictions, including mileage, time, deductibles, or any other restrictions the auto repair shop has if their work or the part fails.

Heading Off Problems

The more knowledge you have about your vehicle, the more likely you will head off the repair issues. Take your car in for regular preventative maintenance and drive your car carefully. Be aware of any changes in the vehicle’s drivability and take your car for diagnostics if you hear, smell, or sense an issue. Many issues will be less costly if caught early.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When someone asks how a bank makes money, the response is: by granting loans and investing in securities.  While that is true, many people do not know that the biggest source of profit for banking entities is commissions. It can be said that banks and savings banks charge commissions for absolutely everything.

Commissions are established by each entity, so consulting the Bank of Spain will ensure that a series of requirements are met and comply with the law.  These requirements must be necessary and respond to a service provided.  They cannot be satisfied by another product contracted by the client, must be communicated to the clients, published, and given to associates within the bank.  The requirements cannot be abusive, and clients cannot be charged for transactions made due to failures or negligence of the entity.  Fees cannot be charged if they do not appear in the contracts and cannot exceed certain limits, for example, 1% in the cancellation of a variable mortgage.

Applicable bank commissions

The fees normally applied regarding a money transfer, keeping accounts, withdrawing money from Automated Teller Machines (ATMs), having cards, studying and/or create a loan, canceling a loan, and having an overdraft account.

It is difficult to avoid fees, so the only thing we can do is compare different entities and look for the lowest commissions.  Although, in theory, the fees must have a degree of flexibility, consumers often do not find themselves in a strong position to negotiate them with the bank.  For example, if you need a loan and Bank X grants it to you, then you may not feel able to demand that one fee be reduced or entirely removed. In Spain, it seems that clients tend to be tolerant and not combative when accepting the fees imposed.

Average annual expense

According to a study by Consumer magazine, the annual commissions can cost a person between $40 and $210.  This can quickly add up when considering most individuals have a checking account, a credit card, and a debit card and make an average of six transfers.

Additionally, when you complete the credit card application process, you must often pay the relevant opening fees without considering mounting debt in addition to paying any partial or total early cancellation fee. Similarly, if there is a bank that lends money at a lower rate or with less initial fees, it seems inevitable that adding a mortgage later will cost even more in relevant fees.

Entities that do not charge bank fees

Lately, the media has made many announcements regarding banking entities that claim not to charge commissions. While this seems like a dream come true, it only seems to reason that any fees or annual commission will be incurred if the fine print of Terms & Conditions is thoroughly read. For example, several commissions, including Account Maintenance, are not charged to creditworthy clients or shareholders but are charged to individuals with lower credit scores.  Similarly, an Account Maintenance fee might be waived, but other fees regarding mortgages may still be charged.

Other banks may not charge a wide range of fees, so you open more accounts with them.  When you trust them with your payroll, insurance, mortgages, accounts, cards, and pension plan, they earn more from your accounts than charging small fees.

In addition to lending and investing in securities, banks and other financial institutions rely on commissions and fees as a main source of profit.  These institutions are not going to eliminate fees but can reduce or waive non-financial commissions, including account maintenance, account transfers, and card issuance and renewal. Take time to research fees between institutions and select accounts and credit cards that meet your needs but are not costly.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

What is Reverse Mortgage?

The elderly population may find it difficult to obtain a loan from the bank. The bank thoroughly examines the financing and loan repayment objectives before placing requirements on the borrower to obtain collateral for repayment of the loan. These conditions do not make it easy for the elderly to receive a loan or mortgage from the bank.  Fortunately, there is a solution to this problem in the form of a reverse mortgage.

A reverse mortgage allows someone to obtain a loan from the bank at a value that is no more than half the value of the property. This loan is typically for the individual who lives in the property in his possession and when this property does not have a mortgage.

In a regular mortgage each month, the shareholders’ equity decreases, and the value of the asset rises. However, a reverse mortgage, as one can understand from its name, works backward. In a reverse mortgage, you can make the property cash value, and there is no need for monthly loan repayments. The loan can be obtained in three ways:

• As a credit line account, as required
• As a fixed monthly amount
• As a single lump-sum payment

As noted, unlike a regular mortgage, a reverse mortgage borrower is not required to pay the bank monthly payments for the repayment of the loan. This is because the bank guarantees the return of the loan by the property itself and makes sure to record a warning note in favor of the bank in the property records. The loan and interest are ultimately paid when the property is sold, either because the borrower sold the house or he passed away.

When a property owner dies, his successors are the ones who need to repay the loan and interest within a period of one year from the date of death.

Heirs can repay the loan from their own money or from the money they will receive from the sale of the inherited property. If the heirs do not want or cannot repay the loan money, the bank can sell the property to repay the loan, and the balance of the money will transfer to the heirs.

Reverse mortgage advantages

A reverse mortgage allows people over 61 to make their home cash, especially those who live in a property that is valuable but have difficulty financing the current expenses of the house.

Older people who are no longer paid monthly, or adults who do not have life insurance that can guarantee repayment of a loan, will find it difficult to take out a traditional mortgage loan. For these individuals, the reverse mortgage money can be used to finance medical costs and treatments.

Lines of reverse mortgage image

A reverse mortgage is a special loan intended for people aged 60 and over. Its main purpose is to pledge the residential property for a percentage of it in cash, with the repayment being made by the heirs of the asset upon the death of the borrower. The loan is in considerable amounts relative to the value of the property, usually from 15% at the age of 60 to 50% at the age of 90. The financial conditions of the mortgage are convenient and suitable for the needs of the elderly and those who want a high quality of life in later years.

The loan amount is taken in cash while providing the home as collateral, with the maximum loan amount determined by the age of the recipients of the mortgage and the value of the asset. The principle here is that loan recipients are not required to make monthly repayments, with repayment possible up to a year from the time of death. It is important to emphasize that the residential property remains owned by the lessee at all times, although in coordination with the company that gives the loan, they can sell it. The loan bears fixed interest linked to the consumer price index.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

An important benefit of saving money regularly is that it allows you to achieve a goal, whether it is short, medium, or long term. Additionally, another benefit of saving is the creation of an emergency fund. In the United States, only 39% of adults that save use their savings to face emergencies or unforeseen events.

Better-safe-than-sorry saving

No one is immune from accidents or incidents; however, we can all be prepared to face these events with the help of our savings.  Otherwise, the event and its consequences can be very costly.

For example, a person without savings has an accident, an illness, loss of employment, or material damage to their property. To cope with this situation, he would have to get money from a friend or family member or take out a personal loan.  Ironically, not having savings for emergencies reduces his chances of borrowing money since a family member or an entity would charge interest.  He would then be forced to use his credit card irresponsibly and become over-indebted.

Consider saving within your budget

It is important to consider including an amount to save each month when you create your budget. This amount may vary, but it is recommended that it correspond to your savings goals. If you are saving to purchase an item, consider saving an amount large enough to include that purchase and increase your emergency fund.

Saving for unforeseen events

Just as the emergency fund is important, it is also important to supplement and obtain insurance, including life insurance, major medical expenses, car insurance, and liability insurance. For example, if you get into a car accident and have car insurance, you can pay the deductible and avoid incurring unnecessary debt.

Use the Savings Simulator

With a Savings Simulator, you can understand saving and investment options in the market, tips to apply before opening an account, and the main rights you have as a saver.  Similarly, the Savings Simulator allows you to make a personal savings program considering an initial investment and periodic additional contributions within the pre-established time.

Keep your money safe

Saving seems easy but takes time and effort.  Avoid informal savings plans like pyramid schemes or keeping your savings under your mattress, as both options put your financial health and family at risk.

Informal savings include:

• Savings at home and the use of batches are the two mechanisms most used by informal savers (28% and 14%, respectively).
• 44% (31 million) of the adult population saves in the informal market.
• 29% of women use the savings at home and 16% the batches in greater proportion than men, while 10% of them use the loan to a large extent among individuals.
• Informal savings are used for the same uses as formal savings; however, for the informal, personal expenses occupy the first place (38%), followed by emergencies or incidentals (27%) and education or health (23%).
• Household savings is the only mechanism of informal savings that is greater in the smaller localities (31%) than in those with 15 thousand inhabitants and more (27%).
• The use of informal savings to increase family assets, such as investing in a house or business, is relatively small (14% and 4%, respectively).
• Regarding formal savings, 36% (25 million) adults claim to have at least one product.

The problem of informal savings is that it includes risks.  For example, in a round, the who organizes it can keep the money and not distribute it.  Similarly, if you keep your money at home, someone can enter and steal it, or you could lose it in a fire or flood.

Is it possible to save?

If you save a dollar a day, your savings becomes $30 in a month and $365 in a year. Similarly, if you save $10 a day, you will have $300 per month and $3,650 per year. Take advantage of the different options banks offer, so you can choose the one that best suits your needs and saving goals.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The best time to buy a car is one of the biggest questions you can ask yourself if you need to renew a lease or purchase a new vehicle. This purchase is not a financial decision that you can make lightly because it usually requires financing. Determining the best time to purchase a car will also provide a timeframe to save money and lower down payment.

The price of a car can vary throughout the month depending on the time of year and the salesperson who attends you at the dealership. That is why it is important to consider what is the best month to buy a car or what specific day to approach, asking for prices before pursuing the car of your dreams.

If you can plan and be flexible, keep in mind that dealers work based on sales targets imposed by the car brands. Each month they have a goal to achieve and do not always fulfill it.  Therefore, the last three or four days of the month are usually the most stressful time for the dealership and the best time to buy a car.

The best month to buy a car

Choosing the best month in which to buy a car is essential. Each year there are usually three windows of opportunity that you can take advantage of listed below:

1. December is the best time. At the end of the year, dealers accelerate their processes to meet their car sales targets. Likewise, if goals have been missed throughout the year, December is the final opportunity for salespeople to meet their individual goals. A dealership that has not achieved its company goal will be more likely to offer a price that allows you to save the most with the purchase.
2. The second-best month to buy a car is August because the average consumer usually saves money during previous months to go on vacation in his brand-new car. Car sales fall after August. The dealer sells fewer models and moves away from his goal. Nobody wants to spend a month without selling a single vehicle. Consequently, the dealership will be friendly and favorable to offer you better conditions for the car of your dreams.
3. The best time to buy a car is after a poor month of sales when there is overstock. Commonly, there is a bad month of sales, and the dealer is forced to buy models directly from the manufacturer to meet their objectives.  New cars without use or that have zero mileage are registered by the dealer. They have not been used, are only a few weeks old, and usually have favorable discounts. The best months for this situation are January and February; many dealers have been forced to buy cars from brands to meet targets they could not sell in December.

The best time to buy a car

Finally, you can always take advantage of the nature of the automobile industry. The renewal of products occurs quickly, so the average life of a model is usually 4 years at most. If you are attentive to advertising, you will know when the new models are coming.

This is important to note so you can take advantage of the inventory for the previous model. Discounts are usually generous, and the dealer will sell a model with no future in the dealership.

In summation, go to a dealership to purchase a car the last few days of the month when salespeople are anxious to make a sale and meet their monthly individual goals.  Also, plan to purchase a car at the end of the year, when dealers want to ensure they can meet their yearly goals, or at the beginning of the new year when the unsold inventory is likely to be discounted.  Now that you know when to buy a car, you can start looking for the model you want and plan your savings accordingly. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Technology and innovation are crucial to the growth and success of any business. Operating a business takes drive, intelligence, and the use of every tool available to you. Therefore, innovation has to be part of your business from the beginning.

Innovation has been a part of the world since the beginning of time. Every modern convenience we have came from someone innovating. When owning and operating a business, whether you or someone in a similar industry, taking on innovation will ensure that your business will thrive. Here are three innovations that will help your business become successful.

Product Innovation

Product innovation can be the invention of a new product or advancements in an existing product. For a business based on a product or multiple products, innovation must be central.

Innovation can be driven by consumer demand, industry advances, or the fulfillment of a need. Necessity is considered the mother of invention. However, it is the mother of advancements, improvements, and new products when it comes to product innovation.

Business owners can’t shy away from updating their product or products when it comes to growth. However, in some cases, the original product may not need advancement or change, so you also have to understand when to keep a product as is. In those cases, the innovation will need to come through the invention of new products that maintain the brand’s integrity.

Process Innovation

Process innovation is the advancement of processes used in the operation of the business. Operations could include production, administration, sales, or marketing. Changes in the equipment and technologies used in production (including applications used in product design and development) and improvements in the tools can improve productivity and increase revenue.

Also, updates to software systems used to assist in the supply chain and logistics system, changes in the tools used to market and manage your product, and approaches used for accounting and customer care are more examples of process advancement.

While innovation and changes to the process will benefit the customer, the difference is internal and will make overall business operations easier for the entire business staff.

Business Model Innovation

Business model innovation is the most difficult because it provides a company with significant improvement criteria. Sometimes, the skills or systems that have been optimized to make a business competitive and sustainable become the priorities for restructuring.

These shifts will threaten aspects of the company’s branding and clash with market values or commitments in certain circumstances. Product and process progress may both be gradual and mild, while business model innovation is disruptive, risky, and revolutionary.

Businesses such as Uber, Airbnb, and Spotify used business model innovation to break the mold of how business models were expected to work. They are excellent examples of fast-moving businesses that were able to challenge age-old markets (taxi service, hotel stays, and music) by tweaking or upending their industry’s traditional business model.

Both existing businesses and startups can modify their business model when developing an initial concept. These innovations in the business model can result in more significant revenue and overall success in well-established industries.

Historic Innovation Examples

Coca-Cola implemented innovation in their product in 1985 during the throes of an epic taste battle with Pepsi. This change to their creation was an epic failure resulting in them putting out the original formula called Coca Cola Classic. Eventually, this lapse in judgment was wholly erased when “New Coke” was phased out and the original Coke product was back in its rightful place.

Henry Ford’s invention of the world’s first successful assembly line is one of the most prominent and pioneering examples of process innovation. This process streamlined vehicle assembly and reduced the time required to manufacture a single vehicle from 12 hours to 90 minutes.

Differential recently created a smartphone distribution dashboard for Grupo Bimbo. The baking corporation has 65 assembly facilities and 2.5 million distribution outlets spread over 22 countries and three continents. 

Because of this worldwide spread of facilities, the mobile sales dashboard provides the team with easy access to sales statistics and other key performance indicators (KPIs) for each region, channel, and brand, eliminating guesswork in sales decisions and minimizing meeting times.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Instead of technological progress, many construction businesses still use manual data entry such as balance sheets, spreadsheets, and other paperwork for accounting and operations records. They also do not take advantage of the latest job site and construction project innovations to enhance their business.

There are practical applications and advantages to modernizing your current processes. In construction, time is money, and using technology to help run the business will save a lot of time that can be used to serve clients and bring in more revenue.

There is also technology that is innovative for the construction side of the business. These technologies include drones, virtual reality, wearables, Building Information Modeling (BIM), and mobile technology. Here are six technologies used for construction and how they can change your construction business.

Mobile Technology

Mobile technology is not only for personal use and games anymore. Applications are emerging that can be used for construction work with positive results. The enhanced portability of smartphones and tablets permits greater communication and the ability to work remotely.

Applying this sort of technology into your current processes is low cost and will increase productivity in daily operations. Mobile technologies will save time and keep your project moving forward faster by giving real-time updates and making data and information available between the office and the job site. You can immediately access the updated revisions to reports or plans and get them to the project handler or manager off-site.

Drones

Drones have only been around for a short period and have proven their usefulness in so many ways. They are also proving their usefulness in the construction industry as there are many areas on a construction site that are difficult to get to and assess.

Drones are being used to conduct site research more accurately and quickly than a crew on the ground and are less expensive than aerial imaging. The data collected with high-resolution cameras can create engaging 3D or topographical models and maps and take volume measurements.

Another advantage to utilizing drones is that they can securely examine difficult-to-reach places like tall buildings, bridges, and other difficult-to-get places.

Drones can also be used to check work and see the progress made by crews all over a job site. The time and difficulty saved by using drones will offset any equipment costs.

Building Information Modeling (BIM)

Building Information Modeling is software used to create 3D models digitally of what will be constructed. However, its capabilities do not stop there. BIM also creates different layers of metadata and integrates them into a construction workflow.

Almost 33% of builders have used this type of software since its inception. The utilization of BIM promotes collaboration because every person can add their input to the model. Adding to the 3D model will replace the need to consolidate different versions of 2D paper drawings.

Streamlining this process allows collaborators on a project to add to the model in real-time. It makes the process of bringing together all aspects of the planning process more efficient. BIM also helps to streamline problem-solving in the planning and design stages of the project by automating the process and giving a complete rendition of the finished project before construction begins.

Virtual Reality

Virtual reality technology is frequently used in conjunction with BIM to assist in better understanding complicated projects. Once you create a building design through BIM, virtual reality can be used to bring it to life.

VR will provide your client or the team an even more accurate idea of what the project will look like when it is finished. Having a complete picture of the project before starting can identify potential issues that can be costly to discover later.

Wearables

Wearables are a construction innovation that will affect job site risk and safety management. One example of innovative construction wearables is smart glasses. These glasses have an Augmented Reality (AR) display, broad-angle camera, depth sensor, and other characteristics that permit the workers to gather and see information in the glasses while on the construction site.

The glasses provide workers with data and instructions required to finish a task, leaving less room for error and saving time. They can also help with safety concerns by delivering the wearer vital information on the area and other essential work information.

Conclusion

These are a few of the many technologies that can propel a construction business forward. There is another technology out there that could be useful to the construction industry. However, these six innovations would be the most beneficial, outside of accounting and bookkeeping software.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

10 Innovative Technology Business Ideas to Explore Today

Technology business ideas are entrepreneurial ventures that leverage emerging digital tools—like AI, blockchain, or IoT—to solve real-world problems and create scalable, profitable businesses. These innovative concepts transform traditional industries through automation, data analytics, and digital platforms, offering entrepreneurs unprecedented opportunities for growth and market disruption.

As the founder of Complete Controller, I’ve spent over 20 years working with businesses across every sector imaginable, witnessing firsthand how technology transforms operations and creates new revenue streams. From AI-powered accounting solutions that cut processing time by 70% to blockchain systems that eliminate financial fraud, I’ve seen technology turn struggling startups into market leaders. This article reveals 10 proven technology business ideas with exceptional growth potential, complete with implementation strategies, real-world case studies, and actionable steps you can take today. You’ll discover which emerging technologies offer the highest returns, learn from successful founders who’ve already blazed the trail, and gain the confidence to launch your own tech venture in 2025.

What are technology business ideas, and why should you explore them?

• Technology business ideas are entrepreneurial concepts that harness emerging technologies like artificial intelligence, virtual reality, blockchain, and IoT to address market gaps and create scalable solutions
• The global AI market alone will reach $826 billion by 2030, growing at 44% annually for agentic AI applications
• These ventures offer lower barriers to entry than traditional businesses, with some requiring under $5,000 in startup capital
• Technology businesses scale faster than conventional models, as seen with companies like Duolingo achieving 200% user retention through gamification
• Early adoption provides competitive advantages, positioning entrepreneurs ahead of market saturation curves

Artificial Intelligence Consulting Services

Artificial intelligence consulting services help businesses implement custom AI solutions that automate operations, predict market trends, and personalize customer experiences. The global AI market revenue is projected to grow from $184 billion in 2024 to $826 billion by 2030, with agentic AI growing at a 44% CAGR to reach $47 billion by 2030. This explosive growth creates unprecedented opportunities for consultants who can bridge the gap between complex AI technology and practical business applications.

AI consulting goes beyond basic chatbot implementation. Modern consultants develop sophisticated solutions like predictive maintenance systems that prevent equipment failures, natural language processing tools that analyze customer sentiment across millions of interactions, and computer vision applications that revolutionize quality control in manufacturing. The average AI implementation saves businesses 30-40% in operational costs while increasing revenue through improved decision-making and customer targeting.

Starting an AI consulting firm

Building an AI consulting practice requires strategic positioning in specific industry verticals where you understand both the technology and the business challenges. Start by identifying sectors with high data volumes but low AI adoption—healthcare diagnostics, retail inventory management, and financial compliance offer particularly rich opportunities.

Your initial toolkit should include pre-trained models from platforms like OpenAI, Google’s Vertex AI, or Amazon SageMaker. These allow rapid prototyping without massive infrastructure investments. Focus on creating proof-of-concept demonstrations that showcase tangible ROI within 30-60 days. One successful approach involves offering free AI audits that identify specific processes where automation could save at least 20 hours weekly.

Implementation roadmap

The path to successful AI consulting follows three critical phases:

1. Discovery Phase (Days 1-30): Conduct comprehensive workflow audits using process mining tools to identify automation opportunities. Document current pain points, data availability, and integration requirements.
2. Pilot Development (Days 31-90): Build a minimum viable AI solution targeting one high-impact process. Use platforms like TensorFlow or PyTorch for custom models, or leverage existing APIs for faster deployment.
3. Scaling Strategy (Days 91+): Implement hybrid human-AI workflows that maintain quality control while maximizing efficiency. Establish monitoring systems to track performance metrics and continuously improve model accuracy.

Virtual Reality Development Studios

Virtual reality development studios create immersive digital experiences that transform how people learn, work, and play. Enterprise VR market revenue will jump from $8.22 billion in 2024 to $12.6 billion by 2028, driven by corporate training and simulation demand. This growth reflects VR’s proven ability to increase training retention rates by 40% compared to traditional methods, as demonstrated in PwC’s comprehensive study of VR-based learning outcomes.

The most profitable VR studios specialize in solving specific industry problems rather than creating general entertainment content. Medical training simulations allow surgeons to practice complex procedures without risk, reducing errors by up to 60%. Manufacturing companies use VR for safety training, cutting workplace accidents by 43% while reducing training costs by eliminating travel and physical equipment needs.

Key service verticals

VR development opportunities span multiple high-value sectors:

• Corporate Training: Create immersive onboarding experiences that reduce training time by 50% while improving knowledge retention
• Real Estate Visualization: Develop photorealistic property walkthroughs that increase sales conversion rates by 30%
• Healthcare Applications: Build therapeutic VR environments for pain management and mental health treatment
• Education Platforms: Design interactive learning experiences that boost student engagement by 85%

Each vertical requires different technical approaches and monetization strategies. Corporate clients typically prefer annual licensing agreements starting at $50,000, while consumer applications work best with subscription models around $20-30 monthly.

Launch strategy

Starting a VR development studio requires a careful balance between technical capabilities and market positioning. Begin with affordable hardware like Meta Quest 3 or Pico 4 for client demonstrations. These devices offer professional-quality experiences without the complexity of high-end PC-based systems.

Partner selection determines early success. Target industries facing high training costs or safety risks—oil and gas companies spend an average of $1,500 per employee on safety training annually. Offer to create pilot programs that demonstrate 25% cost savings within six months. Use Unity or Unreal Engine for development, leveraging their extensive asset libraries to reduce production time.

Monetization should align with client preferences. Manufacturing clients often prefer one-time purchases with maintenance contracts, while educational institutions favor subscription models that scale with student numbers. Price your services based on value delivered—if your VR training reduces accidents by 40%, charge 20% of the savings generated.

Blockchain-Based Security Solutions

Blockchain security solutions leverage distributed ledger technology to create tamper-proof records and transparent transaction systems. With cybersecurity breaches costing businesses an average of $4.88 million in 2024, organizations desperately need innovative approaches to data protection. Blockchain’s immutable nature makes it ideal for preventing fraud, securing supply chains, and protecting sensitive financial data.

IBM Food Trust blockchain platform reduced supply-chain tracing time for mangoes from 6 days to 2.2 seconds, cutting fraud and waste. This dramatic improvement demonstrates blockchain’s power to transform traditional business processes. Financial institutions use blockchain to eliminate double-spending risks, while healthcare organizations secure patient records against tampering.

Market opportunities

The blockchain security market offers diverse revenue streams across multiple sectors:

• Financial Services: Develop smart contract auditing tools that prevent the $3.8 billion lost annually to DeFi hacks
• Supply Chain Management: Create transparency platforms that track products from manufacture to delivery, reducing counterfeiting by 80%
• Identity Verification: Build decentralized identity systems that eliminate password breaches while preserving user privacy
• Healthcare Records: Design HIPAA-compliant blockchain solutions that give patients control over their medical data

Focus on industries where trust and transparency directly impact bottom lines. Pharmaceutical companies lose $200 billion annually to counterfeit drugs—blockchain tracking systems can reclaim significant portions of this loss.

Technical requirements

Building enterprise-grade blockchain solutions requires specific technical foundations. Hyperledger Fabric provides the flexibility needed for private blockchain networks, while Ethereum offers robust smart contract capabilities for public applications. Implement zero-knowledge proofs to validate transactions without exposing sensitive data—critical for financial and healthcare applications.

Your development stack should include:

• Core Platforms: Hyperledger Fabric for enterprise, Ethereum for public chains
• Security Tools: OpenZeppelin for smart contract security, Mythril for vulnerability scanning
• Integration Frameworks: Web3.js for frontend connections, IPFS for distributed storage
• Monitoring Systems: Chainalysis for transaction tracking, Prometheus for performance metrics

Start with proof-of-concept projects that demonstrate clear ROI within 90 days. A pharmaceutical track-and-trace system might begin with one product line, showing 50% reduction in counterfeit incidents before expanding across the catalog.

IoT-Driven Sustainability Platforms

IoT sustainability platforms harness connected sensors to monitor and optimize resource consumption, helping organizations meet environmental goals while reducing costs. With 68% of consumers favoring eco-conscious brands and regulatory pressures increasing globally, these solutions address both ethical imperatives and business necessities. Companies implementing IoT sustainability systems report average cost savings of 25% through reduced waste and optimized energy usage.

Siemens Navigator helped clients reduce CO2 by 525 million tons cumulatively, with annual savings of 10.5 million tons. This massive impact demonstrates how IoT platforms create value at scale. Modern sustainability platforms go beyond simple monitoring—they use predictive analytics to forecast consumption patterns, automatically adjust systems for optimal efficiency, and provide real-time dashboards that engage employees in conservation efforts.

Core features

Successful IoT sustainability platforms integrate multiple capabilities into cohesive solutions:

• Real-Time Monitoring: Track energy, water, and material usage across facilities with 1-second data refresh rates
• Predictive Analytics: Forecast waste patterns using machine learning to prevent overproduction by up to 35%
• Automated Controls: Adjust HVAC, lighting, and equipment based on occupancy and weather data
• Compliance Reporting: Generate audit-ready documentation for ESG requirements and carbon credit programs
• Employee Engagement: Gamify conservation efforts with leaderboards and rewards that increase participation by 60%

Each feature should demonstrably impact both environmental metrics and financial performance. A manufacturing client might see $500,000 annual savings from 20% energy reduction while improving their sustainability rating for investors.

Monetization models

IoT sustainability platforms offer multiple revenue streams that scale with client growth:

• Hardware-as-a-Service: Lease sensor packages starting at $500/month for small facilities, scaling to $10,000/month for enterprise deployments. Include installation, maintenance, and upgrades in monthly fees.
• Software Subscriptions: Charge $50-200 per monitored point monthly for analytics and reporting. Enterprise licenses start at $25,000 annually for unlimited users.
• Performance-Based Contracts: Share savings achieved through optimization—typically 20-30% of reduced costs. This model aligns incentives and reduces client risk.
• Consulting Services: Offer implementation planning at $5,000-15,000 per facility, plus ongoing optimization services at $2,500 monthly.

Municipal smart city projects represent massive opportunities, with the market exceeding $1 trillion by 2025. Partner with city governments to implement district-wide monitoring systems that reduce energy consumption by 30% while improving resident quality of life.

Quantum Computing Applications

Quantum computing applications solve complex optimization problems exponentially faster than classical computers, opening new frontiers in drug discovery, financial modeling, and cryptography. The quantum computing market will grow at 31.3% CAGR, reaching $2.19 billion by 2026. While still emerging, early movers in quantum applications position themselves for massive advantages as the technology matures.

Quantum computers excel at problems involving vast numbers of variables and potential outcomes. Drug companies use quantum simulations to test millions of molecular combinations simultaneously, reducing development time from 10 years to potentially 2-3 years. Financial institutions leverage quantum algorithms for portfolio optimization that considers thousands of factors in real-time.

Commercialization paths

Quantum computing offers several viable business models despite current hardware limitations:

• Algorithm Development: Create quantum algorithms for specific industries, licensing them to enterprises for $100,000-500,000 annually
• Quantum-as-a-Service: Provide cloud access to quantum computing power for researchers and businesses at $10,000-50,000 monthly
• Hybrid Solutions: Develop applications that use quantum computing for specific tasks within classical workflows
• Security Consulting: Help organizations prepare for post-quantum cryptography threats, charging $25,000-100,000 per assessment

Focus on problems where even small improvements yield significant value. A 5% improvement in drug discovery success rates saves pharmaceutical companies billions in failed trials.

Funding and collaboration

Quantum ventures require strategic partnerships due to high capital requirements and technical complexity. Government grants provide crucial early funding—the U.S. National Quantum Initiative allocated $1.2 billion for quantum research. European and Asian governments offer similar programs.

University collaborations grant access to cutting-edge hardware and talent. Partner with institutions like MIT, Oxford, or the University of Science and Technology of China to access quantum computers like IBM’s Osprey processor. These partnerships often include:

• Hardware Access: Use university quantum computers for development and testing
• Talent Pipeline: Recruit PhD students and postdocs with quantum expertise
• Joint Research: Co-develop intellectual property with revenue-sharing agreements
• Grant Applications: Leverage university credentials for government funding

Commercial partnerships with IBM, Google, or Microsoft provide cloud quantum computing access starting at $5,000 monthly for development purposes. These relationships often include technical support and co-marketing opportunities.

EdTech Gamification Platforms

EdTech gamification platforms transform learning by incorporating game mechanics that boost engagement and retention. Duolingo’s gamification strategy—using streaks, XP points, and leagues—increased daily user retention by 200% and made it a top-grossing EdTech app. The EdTech sector will grow at 15% CAGR, reaching $605 billion by 2027, with gamification driving much of this expansion.

Successful gamification goes beyond adding points and badges. The most effective platforms create compelling narratives where learners become heroes of their educational journey. They use variable reward schedules borrowed from behavioral psychology to maintain engagement over months and years. Platforms implementing sophisticated gamification report 85% completion rates compared to 15% for traditional online courses.

Design framework

Creating engaging educational games requires balancing fun with learning outcomes:

Core Mechanics:

• Progression Systems: Design multi-level journeys where each achievement unlocks new content
• Social Features: Implement leaderboards, team challenges, and peer learning to leverage social motivation
• Personalization: Use AI to adjust difficulty and content based on individual learning patterns
• Reward Variety: Mix immediate rewards (points, animations) with long-term goals (certificates, job placement)

Subject Integration:

• STEM Fields: Create coding challenges with immediate visual feedback, like building virtual robots
• Language Learning: Develop conversation simulations with native speakers as NPCs
• Professional Skills: Design business simulations where decisions impact virtual company performance
• K-12 Subjects: Build adventure games where math problems unlock treasure or science knowledge saves virtual worlds

Revenue streams

EdTech gamification platforms monetize through multiple channels that accommodate different user segments:

• Freemium Subscriptions: Offer basic access free with premium features at $9.99-19.99 monthly. Premium typically includes unlimited lives, advanced analytics, and ad removal. Conversion rates average 3-5% for well-designed platforms.
• B2B Licenses: Sell annual licenses to schools and corporations starting at $50 per user. Volume discounts encourage whole-organization adoption. Enterprise packages include custom branding, administrative dashboards, and integration with existing learning management systems.
• In-App Purchases: Sell power-ups, cosmetic items, or content packs for $0.99-9.99. These work particularly well for younger audiences who value customization options.
• Certification Programs: Partner with industry bodies to offer accredited certificates for $200-500. Learners who complete gamified courses show 30% higher pass rates on certification exams.

Case studies demonstrate massive potential. Kahoot! increased test scores by 30% among K-12 users through quiz-based competitions while generating $38 million annual revenue primarily through school subscriptions.

Robotics-as-a-Service (RaaS)

Robotics-as-a-Service democratizes automation by offering robots on flexible subscription models rather than requiring massive capital investments. The RaaS market will hit $156 billion by 2032, driven by labor shortages and e-commerce growth. This model transforms robotics from a luxury for large corporations into an accessible tool for businesses of all sizes.

RaaS providers handle everything from deployment to maintenance, charging hourly or monthly fees that align with usage. A small warehouse can now access the same sorting robots as Amazon, paying only for actual operating hours. This flexibility allows businesses to scale automation up or down based on seasonal demands without long-term commitments.

Target industries

Different industries benefit from specific robotic applications:

Logistics and Warehousing:

• Inventory-counting drones that complete daily counts in 2 hours versus 8 hours manually
• Sorting robots that process 1,000 packages hourly with 99.9% accuracy
• Autonomous forklifts that operate 24/7 without breaks or injuries

Healthcare:

• Surgical assistance robots that improve precision while reducing procedure time by 25%
• Medication dispensing systems that eliminate human error in prescriptions
• Patient transport robots that free nurses for critical care tasks

Retail:

• Shelf-scanning robots that monitor inventory and detect out-of-stocks instantly
• Customer service robots that handle basic queries in multiple languages
• Cleaning robots that sanitize stores after hours without human supervision

Agriculture:

• Harvesting robots that pick delicate fruits without bruising
• Monitoring drones that detect crop diseases weeks before visible symptoms
• Precision spraying systems that reduce pesticide use by 70%

Operational blueprint

Launching a RaaS business requires careful planning and strategic partnerships:

Initial Setup:

Start with commercially available robots that have proven reliability. Boston Dynamics’ Stretch robot for warehouse operations costs $75,000 but can generate $50/hour in service fees. With 60% utilization, one robot produces $2,400 weekly revenue.

Service Packages:

• Basic: Robot rental at $50-100/hour including standard maintenance
• Premium: Add custom programming, priority support, and performance guarantees for 50% markup
• Enterprise: Provide fleet management, integration services, and dedicated support at $50,000+ monthly

Operational Requirements:

• Technical team for deployment and troubleshooting (2-3 engineers per 10 robots)
• Remote monitoring systems to prevent downtime
• Spare parts inventory representing 10% of fleet value
• Insurance covering equipment damage and operational liabilities

Partnerships amplify growth potential. DHL’s partnership with robotics providers reduced sorting costs by 25% while improving delivery speed. Similar arrangements with major logistics companies ensure steady demand and credibility for new RaaS providers.

3D Printing On-Demand

On-demand 3D printing services revolutionize manufacturing by producing custom parts instantly without tooling or minimum orders. The industry’s 21% CAGR reflects growing demand from aerospace, healthcare, and consumer goods sectors where customization drives value. Unlike traditional manufacturing requiring $100,000+ for molds, 3D printing starts production immediately from digital files.

Modern 3D printing goes beyond plastic prototypes. Metal printing systems create aerospace-grade components, bio-printers produce living tissue for medical research, and concrete printers build entire houses. This versatility opens diverse market opportunities for service providers who match technology to customer needs.

Tech stack essentials

Building a competitive 3D printing service requires strategic technology choices:

Hardware Selection:

• Entry Level: FDM printers like Ultimaker S5 ($6,000) for prototypes and basic parts
• Professional: SLS systems like Formlabs Fuse 1 ($30,000) for engineering-grade components
• Industrial: Metal printers like Desktop Metal Studio ($120,000) for aerospace and medical applications
• Specialized: Bio-printers or concrete systems for niche markets

Software Infrastructure:

• Design Optimization: Autodesk Netfabb reduces material usage by 40% through lattice structures
• Order Management: Custom portals accepting STL files with instant pricing
• Quality Control: 3D scanning systems verifying tolerances within 0.1mm
• Workflow Automation: Scripts handling file preparation, scheduling, and post-processing

Material expertise differentiates services. Stock 20+ materials including standard plastics, engineering polymers, metals, and composites. Each material requires specific handling, processing, and finishing techniques that impact final part quality.

Client acquisition

3D printing customers span from individual inventors to Fortune 500 companies:

• Online Marketplaces: List services on Shapeways, Craftcloud, and Etsy for consumer exposure. These platforms handle marketing while taking 15-30% commission. Use them for market entry while building direct relationships.
• Direct B2B Sales: Target companies spending $50,000+ annually on prototypes. Offer 30% savings versus traditional methods with 5-day turnaround. Aerospace companies particularly value quick iteration for R&D projects.
• Partnership Programs: Collaborate with design firms, engineering consultancies, and makerspaces. Offer 20% referral commissions or white-label services. One partnership typically generates 10-15 monthly orders.
• Industry Specialization: Focus on specific sectors like dental (crown/bridge production) or jewelry (custom designs). Specialized knowledge commands premium pricing—dental labs pay $100+ per crown versus $20 for generic printing.

Success metrics include MakerGear’s evolution from garage startup to leading printer manufacturer through consistent quality and customer service. By maintaining 24-hour response times and 99% on-time delivery, they built a loyal customer base paying premium prices for reliability.

Cybersecurity for Autonomous Vehicles

Autonomous vehicle cybersecurity protects self-driving systems from hackers who could cause accidents or steal data. As 75% of new cars will incorporate automation by 2030, this field represents a critical intersection of safety and technology. Companies like Upstream Security raised $62 million addressing these vulnerabilities, recognizing that a single breach could destroy consumer trust in autonomous vehicles.

Vehicle cybersecurity differs fundamentally from traditional IT security. Cars operate in life-threatening environments where milliseconds matter. A hacked laptop might leak data; a hacked car could kill. This criticality allows security providers to charge premium rates—automotive manufacturers gladly pay $1 million+ for comprehensive security audits.

Solution components

Comprehensive vehicle security requires multiple defensive layers:

Hardware Security:

• Intrusion detection sensors monitoring CAN bus traffic for anomalies
• Secure boot systems preventing unauthorized firmware modifications
• Hardware security modules storing encryption keys in tamper-proof chips
• Isolated networks separating critical functions from infotainment systems

Software Protection:

• Real-time threat detection using machine learning to identify attack patterns
• Over-the-air update systems with cryptographic verification
• Sandboxed applications preventing lateral movement between systems
• Behavioral analysis detecting compromised components

Operational Security:

• 24/7 security operations centers monitoring fleet-wide threats
• Incident response teams capable of remote vehicle shutdown
• Forensic capabilities preserving evidence for investigations
• Threat intelligence sharing with industry security consortiums

Regulatory alignment

Automotive cybersecurity operates under strict regulatory frameworks:

• ISO/SAE 21434: This standard mandates cybersecurity management throughout vehicle lifecycles. Compliance requires documented risk assessments, security-by-design principles, and incident response procedures. Non-compliance prevents vehicle sales in major markets.
• UN Regulation 155: Requires manufacturers to demonstrate cybersecurity management systems. Security providers who understand these requirements position themselves as essential partners rather than optional services.
• Regional Requirements: Different markets impose specific rules—Europe’s GDPR affects data handling, while California’s IoT security law mandates unique passwords. Navigate these complexities for clients to ensure global market access.

Service Offerings:

• Penetration Testing: $15,000-50,000 per vehicle model, identifying vulnerabilities before production
• Compliance Consulting: $100,000+ for full ISO 21434 implementation
• Monitoring Services: $10,000 monthly per 1,000 vehicles for continuous threat detection
• Incident Response: $50,000 retainer plus hourly rates for breach investigation

Partner directly with automotive manufacturers during vehicle development. Early integration reduces costs while maximizing security effectiveness. One prevented breach justifies entire security budgets—average automotive recalls cost $500 million.

SpaceTech Data Analytics

SpaceTech analytics transforms satellite imagery into actionable business intelligence for agriculture, insurance, and urban planning. The sector’s 19% annual growth reflects increasing satellite launches and improving AI capabilities. Companies like Planet Labs monitor crop health for agribusinesses, providing insights that increase yields by 15% while reducing water usage by 20%.

Satellite data offers unique advantages over ground-based monitoring. A single image covers thousands of square kilometers, updated daily or even hourly. This scale enables applications impossible through traditional methods—tracking illegal deforestation in real-time, predicting crop yields months before harvest, or assessing storm damage within hours for faster insurance claims.

Product development

Building SpaceTech analytics products requires combining multiple data sources with sophisticated analysis:

Data Acquisition:

• Open Sources: NASA Earthdata, ESA Copernicus, and NOAA provide free imagery
• Commercial Providers: Planet, Maxar, and BlackSky offer higher resolution for $1-10 per square kilometer
• Specialized Sensors: Hyperspectral, thermal, and radar data for specific applications

Analysis Capabilities:

• Change Detection: Identify construction, deforestation, or crop growth automatically
• Predictive Modeling: Forecast yields, weather impacts, or urban expansion
• Anomaly Detection: Spot illegal fishing, mining, or infrastructure problems
• Integration Tools: Combine satellite data with IoT sensors, weather stations, and historical records

Focus on specific use cases where satellite data provides clear ROI. Agricultural clients pay $50-100 per hectare annually for yield optimization. Insurance companies save millions through faster, more accurate damage assessments.

Market entry

SpaceTech startups should target specific verticals with immediate needs:

• Government Contracts: Agencies like NOAA need environmental monitoring, paying $500,000+ for specialized analytics. GSA schedules simplify procurement once approved. Start with small business set-asides requiring less competition.
• Agricultural Services: Partner with major agribusinesses monitoring millions of acres. Commodity traders pay premium prices for harvest forecasts affecting futures markets. One accurate prediction can influence billions in trades.
• Insurance Applications: Property insurers use satellite data for risk assessment and claims verification. Demonstrate 50% reduction in claims processing time to justify $100,000+ annual contracts.
• Infrastructure Monitoring: Utilities and transportation departments track asset conditions remotely. Identify pipeline leaks, power line encroachment, or road deterioration before failures occur.

Initial infrastructure costs approximately $100,000 for cloud computing systems handling terabytes of imagery. Use services like AWS or Google Earth Engine to minimize upfront investment while scaling with demand.

Conclusion

These ten technology business ideas represent the frontier of entrepreneurial opportunity in 2025 and beyond. From AI consulting that transforms business operations to SpaceTech analytics revolutionizing how we understand our planet, each concept addresses critical market needs while offering exceptional growth potential. The key to success lies not in choosing the “perfect” idea, but in matching your skills and passion with market demand.

At Complete Controller, I’ve guided over 120 tech startups through the critical early stages of financial planning, market validation, and scaling. The most successful founders share common traits: they start with deep understanding of their target market, validate ideas through quick pilots, and maintain financial discipline while pursuing growth. Technology amplifies these fundamentals rather than replacing them.

Your next step is choosing one idea that resonates with your experience and market insights. Start small with a proof of concept, measure results obsessively, and scale based on data rather than assumptions. The technology landscape rewards those who move quickly but thoughtfully. For personalized guidance on financial modeling, market analysis, and scaling strategies specific to your technology business idea, schedule a consultation with our team at Complete Controller.

FAQ

What are the most profitable tech business ideas in 2025?

AI consulting services, cybersecurity solutions, and IoT sustainability platforms lead profitability due to massive corporate digital transformation budgets. AI consulting commands $200-500 hourly rates with 70%+ margins, while cybersecurity firms see average contracts of $250,000 annually. IoT platforms generate recurring revenue through subscriptions starting at $5,000 monthly per client.

How much capital is needed to start a tech business?

Capital requirements vary dramatically by technology focus. VR development studios can launch with $5,000 for basic equipment and software licenses. Quantum computing ventures require $1 million+ for research and development due to specialized hardware needs. Most software-based businesses (AI consulting, blockchain development) start with $10,000-50,000 primarily for marketing and initial team building.

Can non-technical founders succeed in tech startups?

Yes, non-technical founders succeed by focusing on business development, customer discovery, and team building while partnering with technical co-founders or hiring skilled developers. Successful non-technical founders like Brian Chesky (Airbnb) and Jack Ma (Alibaba) built billion-dollar tech companies by understanding market needs and building strong technical teams.

What legal considerations apply to tech businesses?

Tech businesses navigate complex legal landscapes including data privacy laws (GDPR fines reach €20 million or 4% of global revenue), intellectual property protection through patents and trade secrets, industry-specific compliance like HIPAA for health tech ($2 million penalties), and software licensing agreements. Cybersecurity businesses face additional liability concerns requiring errors and omissions insurance starting at $1 million coverage.

How do I protect proprietary technology?

Protect technology through multiple layers: file provisional patents for novel inventions ($70-300 filing fees), implement code obfuscation and encryption for software, require comprehensive NDAs and non-compete agreements for employees and partners, use trade secret protections for algorithms and processes, and maintain detailed documentation proving creation dates and ownership for potential disputes.

Sources

• Amcham. (2019). “Food Trust: How Blockchain Digitally Transforms Food Chains.” IBM. https://www.amcham.gr/wp-content/uploads/2019/11/LINARDAKHS_4thEUF.pdf
• Bluetree Digital. (2023). “EdTech Statistics.” https://bluetree.digital/edtech-statistics/
• Cubix Blog. (2024, December 18). “50 Profitable Tech Startup Ideas.” https://www.cubix.co/blog/tech-startup-ideas
• Earth Data. NASA. https://earthdata.nasa.gov
• Eggs Unimedia. “Siemens Navigator.” https://www.eggsunimedia.com/de/en/insights/success-story/siemens-navigator
• Elon University. (2023). “Internet History.” https://www.elon.edu/u/imagining/time-capsule/early-90s/internet-history/
• Enterprise League. (2024, October 16). “19 Profitable Cybersecurity Business Ideas.” https://enterpriseleague.com/blog/cybersecurity-business-ideas/
• NIST. “Blockchain.” https://www.nist.gov/topics/blockchain
• NoGood. (2023, October 9). “Duolingo PLG Case Study.” https://nogood.io/2023/10/09/duolingo-case-study/
• Openxcell. (2025). “Top AI Business Ideas in 2025.” https://www.openxcell.com
• Schneider Electric. (2023). “University of Rochester Medical Center Case Study.” https://www.se.com/ww/en/work/campaign/life-is-on/case-study/university-rochester/
• Shopify Blog. (2024, February 22). “10 Innovative Tech Business Ideas.” https://www.shopify.com/blog
• Starter Story. (2025, April 14). “26 Best Virtual Reality Business Ideas.” https://www.starterstory.com
• Statista. (2025, June). “Global AI Market Size 2031.” https://www.statista.com/forecasts/1474143/global-ai-market-size
• Statista. (2025, February). “Enterprise VR Market Revenue Worldwide.” https://www.statista.com/statistics/1559880/enterprise-vr-market-revenue/
• Statista. (2025, April). “Internet Users Worldwide 2025.” https://www.statista.com/statistics/617136/digital-population-worldwide/
• Stratview Research. (2025). “Quantum Computing Market Forecast.” https://www.stratviewresearch.com/2714/quantum-computing-market.html
• The Record. (2024). “IBM: Cost of a breach reaches nearly $5 million.” https://therecord.media/ibm-breach-report-cost-rise-to-5-million
• Wikipedia. “Artificial Intelligence.” https://en.wikipedia.org/wiki/Artificial_intelligence

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Financially responsible people are making money mistakes they shouldn’t be making in their spending. Whether you have a significant income or live penny to penny, you should be exercising good money management skills daily. To do this, you must acknowledge the mistakes you are creating and stop producing them.

Before you fix your money mistakes, you shouldn’t beat yourself up but instead, focus on averting them in the future. Here are eight money blunders people frequently make and how to prevent them.

No Savings

Every financial consultant will recommend you not only have a savings account but more than one, yet many working and financially responsible adults do not have anything saved. The claim by those who do not have a savings account is generally that they can’t afford to save anything.

Understandably, you may not think you can afford to save, but if you were to analyze your budget, you could probably find a few things you could cut back on to put into your savings account. Most people are in denial about their ability to save, and they need to be more disciplined in their budget efforts.

Not Focusing on Interest

First, many of those obtaining credit cards or loans that carry interest don’t pay attention to the percentage of the interest they are agreeing to at the time of the loan or signing the credit card agreement.

If you have no choice but to agree to a higher interest rate, such as with a car loan, you need to make that account a pay-off priority and always pay more than the minimum payment. Early pay-offs of any accounts carrying interest or high interest will minimize the cost and debt damage that interest can do to your finances.

Impulse Buys

When it comes to spending, people are sometimes impulsive. While making impulse purchases on occasion will not do any significant damage to your overall finances, if you are regularly impulsive when it comes to spending, you must get it under control.

From shopping at the store to passing a sale or seeing an ad on tv, you have to resist making unplanned purchases as much as possible.  This resistance can be how you prevent unnecessary debt throughout your financially responsible life.

Undue Overconfidence

While you can and should invest in the stock market, you must be careful and not get overconfident. The stock market can be a risk that will often have a high reward. However, you have to be thoughtful in your investments and use caution rather than arrogance.

Sometimes we will make a great trade and make a lot of money which builds our confidence, and if we get too confident, it can cause us to make critical mistakes and lose more than we can handle.

Paying Full Price

While brand loyalty and trust are understandable, paying retail when there are ways to save and still have quality products is a waste of money. There are outlet and discount options that will allow you to have your name brand still while saving money. Generally, generic products are equal to the name brand in quality at a fraction of the price simply because it doesn’t have the name attached.

Not Focusing on Credit

Most people already realize that your credit score plays a significant role in your financial health. Even if you don’t plan to make large purchases using a lender that requires your credit score to be high, having a low credit score can cost you. Many companies such as insurance, cell phone, and utilities use your credit score to determine fees and deposits or down payments.

There are even some jobs that will reject you for hire if you have a low credit score. With so many sites or apps that offer free credit reports, there is no reason you shouldn’t know what your score is and what the issues are. Repair your credit and do it now!

Ignoring Bill Savings

Most people don’t realize that many of your bills and services can be negotiated. Utilities, phone or internet services, and medical bills are a few that you can sometimes negotiate to a lower amount. Even if the answer is no, you should make an effort to negotiate your bills and payments to a lower amount or refinance if your credit is in a better position.

Not Saving Tax Refunds

Many Americans get a little to thousands of dollars back on their taxes each year, and while it is good for the economy to spend that refund, you should save some of it or invest it so it will grow into more revenue. It would be for the best that you save or invest it all, but one financial treat is acceptable.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.