So which five industries hold the most promise for entrepreneurs? Based on anecdotal insights and job-growth projections from the Bureau of Labor Statistics, the following five industries are particularly hot for entrepreneurs.
- Internet and Data Services: The growth in technology – especially mobile technology – will continue to fuel online growth and the need for data services. Online business growth rise will continue through the next decade, and our reliance on e-commerce will increase. We’re going through another tech revolution where more of our lives are conducted online. That creates immense for entrepreneurs. Coupled with the advances in metrics and data analysis, companies are hungry for information on their clients/customers.
- Computer Systems and Software Services: Everywhere you look, big data and software dominate and is quickly becoming important in the 21st century. A great aspect of software services is that they create the need for more software. The growth of the now infamous cloud will, in turn, create demand for even more software which will be used everywhere as new uses emerge each day.
- Accounting Services: As new financial and banking regulations are implemented, the need for accounting and audit services will rise. This sector has a number of opportunities for entrepreneurs and its growth has been evident recently.
- Business Consulting: As the economy rebounds, more businesses are created and expand. This growth results in more need for management and technical consultants. Business consultants are likely to do well because many businesses will need help drafting business plans, strategies, marketing campaigns, and budgets.
- Home Health Care: While employment in the health service industry is projected to grow steadily, employment in the specialized home health care industry is expected to increase even faster. Each year, over 12 million people receive home health care services, according to the National Association for Home Care. This “graying” presents a number of opportunities for innovative entrepreneurs.