Are you an entrepreneur who is considering starting a new business venture? While starting a new small business is risky, there are definitely methods you can follow and research you can conduct to ensure your best chance for success. Across the country, there are multiple industries that are booming! If you are searching for optimal ventures, here are five of the fastest growing small business industries you should consider:
Some of the fastest-growing businesses are in construction-related fields. According to the U.S. Green Building Council, by 2016 the total revenue across the industry should grow to $245 billion.
Online Baby Products2
There will be more than 6,000 companies planning to sell baby-related products via online marketplaces by 2018. If you are interested in this industry, prepare to join a much larger group.
Within the last year, the computer services industry saw 15.3 percent sales growth. Due to the extreme rise in cybercrime data integrity, data protection and data security have become a top priority for many computer firms in the United States.
This industry is vast and includes landscaping, drafting services and building inspections. Since 2013, this industry has seen a 13.6 percent growth in sales. As the real estate market spikes, the demand for architectural services will also increase.
Most business owners’ goals include going global, and many entrepreneurs’ dreams are becoming a reality. There is great demand in the industry for translators. Those who have the ability to translate languages are already in line to grow incredibly quickly. Currently, there are around 50,000 businesses in this industry and many operate individually.
1 Lapowsky, I. (25, March 2014). Why going green means big business in the construction industry. Retrieved September 29, 2014 from http://www.inc.com/ss/best-industries-for-starting-a-business#1
2 Weisul, K. (25, March 2014). Looking for growth potential? Baby products, baby! Retrieved September 29, 2014 from http://www.inc.com/kimberly-weisul/looking-for-growth-potential-baby-products-baby.html
3 Cole, M. (25, July 2014). 5 fast-growing small business industries. Retrieved September 29, 2014 from http://www.thefiscaltimes.com/Articles/2014/07/25/5-Fast-Growing-Small-Business-Industries
4 Krasny, J. (25, March 2014). Lost in translation? There’s a whole industry to help. Retrieved September 29, 2014 from http://www.inc.com/jill-krasny/why-translation-services-is-a-top-industry-to-start-a-business.html