Where Do I Begin to Look…?
Best Small Business to start would actually relate to the industries that are showing good growth at this time.
An entrepreneur can check into which industries are prospering in this new economy and then start to select what would be his/her position in that industry.
The healthcare industry is expanding by leaps and bounds as the population ages. In particular, home healthcare, offering a different setting from institutions and being more cost effective is in great demand.
Education is in demand as technology and the recent recession are changing the job market. Millions of people are having to upgrade their education or take skills training in order to stay employed. This market is growing steadily and will continue to grow for many years.
Business software is becoming a vast market, especially rental of business software as well as cloud computing. Corporations and governments are looking for ways to cut down on software costs, they are seeking shared or rental software agreements and as costs rise there will be more and more of this activity.
The self-improvement/ spiritual/ meditation niche is rapidly expanding. More and more doctors are recommending holistic healing to their patients who are studying meditation in groups and on their own. Related opportunities may involve organizing these groups and marketing materials and supplies to the consumers.
Trade school is becoming sought after as people are losing their main employment or seeking to bolster their family income with a part time job. Gas Fitters, HVAC, Welding, Appliance Repair, these are all areas where people want to get certification and begin their new occupation.
Restaurant. People are still going out to eat and although they may want o economize and stay away from the most expensive places, they still want to dine in a nice place. Part way between the fast food type eating place and the formal dining establishment is a mid priced family type restaurant and these are gaining in popularity.
Low cost home construction featuring Green Construction. People are still looking for housing and they want to save money and also protect the environment. Governments are assisting this industry with incentives for environmental initiatives. High efficiency water heaters and furnaces are in great demand as are solar panels and other alternative energy generators.
Consultants are needed by the large corporations that have had to gut their staff in the recession. There is a broad range of consulting positions offered on a temporary basis. There is a need for agencies to help corporations and governments to find the people with specialized talents that will suit their short term requirements.
Accounting firms are continuing to grow, the need for accountants is continually increasing as more and more legislation is affecting businesses. Specialized fields within accounting such as collection services are in great demand with the slowing collections of accounts receivable.
Repairs…….. since the recession started, shoe repair shops have improved greatly in profitability, similarly with appliance repairs, home repairs, jewelry repairs. People are not rushing out to buy new, they want to repair what they have to extend the life of their personal effects and appliances.
The best small business to start is going to be one that you feel enthused about, I have listed some growth industries and within those are some potential. It is going to take some exploration to calculate and decide which will be the best small business to start for each individual.
Do you have a great Small Business Idea that you would like to Share
Do you have a great story about this? Have you seen an industry that is growing rapidly? Share it!