The 10 Best Industries for Startups

10-best-industries-for-start-ups

If you want to launch a startup, but are still trying to figure out what business is best for you… Consider Inc magazine’s list of the top 10 industries for starting a business.

The 10 best industries for startups include:

1. Environmental Consulting – Small businesses in this industry are going green in more ways than one. This robust industry is valued at $17.8 billion, with an expected 9 percent growth per year for the next five years.

2. Translation and Interpretation Services – in our global economy solid communications are priceless. This $2.7 billion industry has grown an average of 22 percent per year since 2004.

3. Home Health Care - As healthcare costs soar, people are seeking more affordable home-care options. This industry continues to grow and is expected to grow by more than 50 percent before 2018.

4. Mobile App Design – Thanks to the iPhone, the iPad and the Android phones the need for mobile apps is intense and will continue to be in great demand.

5. Ferryboats and Inland Water Transportation – As urban centers become more congested, people are choosing to travel by ferryboat. Privately owned ferry services and tourist excursions are thriving.

6. Tea and Healthy Beverages – As more people choose to drink tea, the industry presents opportunities for small, independent manufacturers to own a piece of the market.

7. Fun, Games and Hobbies – Old school games and toys are making a comeback. Stores that sell crafts, hobby goods and musical instruments are performing strong.

8. Exam Preparation and Tutoring – As more adults head back to school there is a greater demand for exam preparation and tutoring services. This industry grew about 7 percent last year.

9. Bakeries and Baked Goods – Research suggests that people are opting for small indulgences instead of big purchases, so bakeries, pastry shops and bagel sellers are growing at a rate of 5 percent.

10. Self-Storage Leasing – Companies that help manufacturers perform safety and quality testing on consumer products make up a $15 billion industry. Over the next five years the industry is expected to grow 5 percent each year.

For more information on the 10 best industries for startups, check out the original story at Inc.com.

And, if you know of any other industries that are ripe for new entrepreneurs…share your insight below.

One Comment

  1. Posted July 28, 2010 at 1:41 PM | Permalink

    Translation is a hot topic for sure, emerging markets are where it is at. I would assume Arabic would be a great language for this (besides an obvious choice like Chinese).

    Kagem Tibaijuka
    vox-popPRcareers

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