If you want to be successful in business, you will need to know what business to venture into to start.

Knowing which business is highly profitable in 2018 will help you a lot in making that crucial decision on which business to invest your time, effort, and finances into.

In 2018, statistics provided by Sageworks, a financial data services company that examines the net profit margins of a large number of small businesses in the United States, have shown that small-scale accounting and tax services companies earn averaging about 18.4% in net profit margins and this business tops the list of the most profitable small-scale businesses in the US.

The Top 10 Profitable Small Businesses in the US for 2018 list also includes:

• In second place is Business Management Services, which has a net profit of 15.5%.
• In a close third place are real estate services with a profit margin of 15.2%.
• In fourth place we have automotive equipment rental services with a net profit margin of 14.55%.
• Legal services and law firms have a profit margin of around 14.48% and are fifth on the list.
• In sixth place are medical services and the dentist’s office has a net profit of 14.41%.
• The generation, transmission and small distribution of electrical energy obtained a net profit margin of 14.02% and ranked seventh.
• In eighth position are real estate leasing services, which arrive with a profit margin of 14.01%.
• It is followed by Other medical services in ninth place with a net benefit of 13.03%.
• In tenth place is the doctor’s office with a net profit margin of 13.01%.

Sageworks says the average net profit margin across all small businesses is about 12.82%.

So what is it that usually makes these small businesses profitable?

Jenna Weaver, an analyst at Sageworks, says the main reasons these companies top the list of profitable companies are:

• All work mainly with human capital.
• They have low start-up costs and overhead.
• You can work from home for most of these businesses, thereby saving money on potential rent payments, utility bills, and furniture expenses.

It’s important to note that while profit is a great incentive to start a business, you’ll also need to get into that business that truly matches your skill set. If you have no legal training or experience, it would be very risky and unwise to start a law firm, for example.

You also need to acquire the necessary knowledge and training to be successful in your choice of business.

Find all the necessary information on how to start and operate your business within your home base, information such as licenses, taxes and local or state policies will help you work professionally and within the limits of the law.