What type of business, exactly, should you start?
As budding entrepreneurs this question is always in front of the decisions to make when deciding on what to do next.
The downward economic tide of the Great Recession has forced many people to not invest all their eggs into one mode of financial dependency. Never in the history of man has the combination of lost jobs and opportunity existed at the same time. The days of working for corporate enterprises and retiring maybe a thing of the past, but on the flip side the digital age is still in its infancy, waiting for you to grasp it and run with it.
Which brings me back to what are the best fast growing business opportunities accessible to entrepreneurs.
Opportunities in business have always existed, but never in the capacity it does today with the internet. Information flows freely and business ideas are documented and available for those that seek it.
While doing my daily research keeping my fingers in the know of what trends are strong and which ones are fading I ran across an article written for inc.com about a study which highlights whats hot and within reach for entrepreneurs.
Best Business Opportunites 2012
- Big Data
- e-Commerce
- Environmental Consulting
- Full-service Restaurants
- Internet Publishing & Broadcasting
- IT Consulting
- Mobile & Social Gaming
- Pet Care
- Residential Construction
- Supply Chain Management
- Water Conservation
These industries where chosen based on data for fast growth but accessible to entrepreneurs. Inc.com excluded growing industries like energy production, nanotechnology, and auto dealers because they are typically too capital-intensive for most start-ups to break into. They also omitted several professions that are growing nicely but require years of additional education or training: law, medicine, and accountancy, for example.
These recent economic drivers are creating new patterns of consumption and demand,
- Baby Boomers now reaching retirement age, some 90 million so-called Millennials or “Gen-Yers” are now entering the workforce
- Growth prospects for the residential housing market with steady improvements in the existing housing market where unsold inventory is drying up
- New building permits were up 34.3% in February 2012 over a year ago
- Increasing demand for eco-friendly products and services boost the residential housing market, where ‘green’ homes and renovations are increasingly in demand
- Business-to-business demand for services such as environmental consulting and water conservation
- Pent-up demand generating spending sprees, like we’ve been seeing with people replacing their automobiles
- Growing number of people and companies have turned to e-commerce as a way to save money and gain efficiencies
The prediction that e-commerce would peak several years ago, simply hasn’t been the case. There is never a better time than the present to take advantage of the best business opportunities especially when Low barriers to entry of these markets still exist.
It’s all about creating efficiency and saving clients money.
Take a look at the details at