It is just a fact that, in our current economy, or really in any economy, some start-up businesses do better than others. In our struggling economy as we go into 2013, we are going to look at what industries are doing well as that is where start-up businesses will do well. If you have an idea for a business in any of the following industries, you may be able to obtain funding and successfully launch your business idea and business plan. Banks, venture capitalists, and even non-traditional sources of funding are only interested in those businesses that have a chance of success. If you start a business in a successful industry and one that sees success down the road in 2013 and beyond, you are maximizing your chances of success. Here we go!
1. Technology - Building the Best App (Application)
It shouldn't be a surprise that technology is at the top of the list as a most profitable industry. Typically, the jobs in the technology industry require lots of training and education. There are opportunities, however, for a small business to start-up and get its foot in the door of this very profitable sector of the economy. Since Apple launched its app store, a whole new industry has been developed around creating apps.
This burgeoning industry is not one that is going to go away anytime soon. Apps are needed for mobile phones, ipads, and just about every other electronic device and you can develop an entire small business around this concept if you have an idea you are passionate about and a little training concerning how to develop an app. Invest in some training or train yourself and get on the bandwagon. There is money to be made in this industry. The yearly growth rate in app downloads is a phenomenal 30%. Approximately 13 billion apps were forecast to be downloaded in 2012.
2. Technology - Mobile Gaming
Have you ever played Angry Birds? What about Words with Friends? Wouldn't you like to have been the developer of one of those mobile games? The mobile gaming sector of the technology industry is just about the hottest thing around. The mobile gaming industry has experienced an unbelievable 397% growth rate since 2007! In 2007, there were only two mobile game developers. Now there are many but the industry is still booming.
If you are interested in mobile games and their development, you could build an entire small business around developing mobile games. All you need is a good idea and a good team behind you. Financing should be relatively easy to find with a good business plan and a solid idea about a game or games you want to develop. This is a great trend to capture and build a solid business.
3. Technology - Information Technology Consulting
This potential start-up business opportunity is going to require some pre-planning on your part unless you have already worked in the field or have education in the field. Information technology consulting is a hot and highly paid field right now and is expected to remain so into the foreseeable future. From 2007 - 2012, the IT consulting field grew by 200,000 jobs and is expected to add many more jobs in the future. What's more, it is expected that many different types of businesses are going to outsource some of their IT operations to small businesses, just like the start-up you could establish!
As an IT consultant, you will work with clients, such as health care firms, energy firms, and others, and teach them how to migrate their computing operations from the standard PC to mobile devices and cloud computing. Employees and management are interested in devices they can use while they are on the go. They need training, particularly in cloud computing and that would be your job. If you start a small business in IT consulting, it could be a very lucrative business as you take on these clients. This is a small business you could start with a huge upside in the future. All you need is a little education and training if you are interested in technology.
4. Technology - Health Care Technology
It is no secret that the health care field is booming. There are start-up business opportunities to be had in this business. One promising start-up opportunity is the development of health care software. Seniors are becoming increasing interested in cognitive fitness programs to exercise their minds. Total sales in this industry sector are supposed to do nothing but climb as the baby boom generation continues to age and retire. Are you a software developer? Do you develop apps? Here is a perfect start-up business for you.
5. Self-Improvement Industry - Health and Personal Care Industry
In the U.S., it seems that everyone is trying some new self-improvement program. We're all on a diet or an exercise program. We're all interested in expanding our spiritual awareness or building our wealth. Look at how many people listen to motivational speakers. If you have experience in one of these areas, you can certainly start a business. Become a fitness instructor. Assist folks with their diets. Become a motivational speaker or spiritual counselor. The possibilities are endless. Look at the interests of the population in your community. You can also start such a business online. This industry is expected to grow by 6.2% annually.
6. Consulting - Business
Have you been laid off? Have you recently retired or been "downsized" right out of your company? If so, you probably have the expertise to do consulting in your particular area of the business. The small consulting industry is supposed to grow by 5.9% through 2016.
Many corporations are turning to small consulting firms to outsource some of their functions or to fix some of their problems. If your skills are financial or public relations, you are in a good place to consult for large corporations who will pay a fine fee for your services. Your costs for this start-up business are low. You need a little advertising and a home office. Check out the list of niche consulting markets in the link above.