When it comes to venturing out as a small business owner or business entrepreneur, it’s important to determine which industries have the most sustainable momentum in today’s society. While no business can be guaranteed to be successful, a business in an industry with high growth potential can provide you with a better chance at finding long lasting success.
Here are four up-and-coming industries that have potential to be successful:
1. Health Industry
Because the health industry is essential to the well being of human life, any business within this field usually has sustainable longevity. Currently, there is a persistent demand for medical supply companies, including medical marijuana companies. In fact, medical marijuana is one of the biggest industries. Not only have a few states legalized the public use of marijuana, many severely ill patients, such as cancer patients, find their excruciating pain can be decreased with marijuana. Unfortunately, there has been a steady increase in cancer patients, and there is a ubiquitous need for medical marijuana pain medication. When starting a business like this, look to companies like BioTrackTHC for outsourcing.
2. Green Construction
The demand for eco-friendly contractors and architects has steadily increased. Research estimates that by 2016, more than half of all commercial and institutional construction will be required to be environmentally friendly, energy efficient, or both. Because businesses will be looking for ways to be as energy efficient and sustainable as possible, this industry is on is way to being in demand. Business owners and homeowners alike are already looking for ways to be more environmentally conscious, for it both saves money and lessens the amount of carbon footprints on the earth. Being a contractor who specializes in eco-friendly construction is a business venture with a promising future.
3. Education Software
There is a growing concern over America’s education crisis. There has been an influx in new education ideas, particularly in education software. In the span of two years, the education software market has increased by $14 million, and in 2017 it’s predicted to have increased by 20.3 percent more.
Because of the education disagreement, parents, teachers, and education officials are looking for educational alternatives. Parents who are dissatisfied with the education trend are looking to home school and need educational resources. And teachers and officials are looking for personalized lesson plans they can download and apps that can track students’ progress accurately.
4. Digital Forensics
With the world’s dependency upon technology, there is an ever present and ever increasing need for companies who can track down cyber crimes. Although storing information digitally is easier, eco-friendly, and more efficient, it is more vulnerable to hacking. Companies that store personal clientele information and financial data need to outsource to a digital forensic company in order to protect this information, as well as track down any information that gets lost. With the recent cyber crimes percolating the news, the market for digital forensics has increasingly grown.
Because starting a business can be a risky pursuit, choosing one that has a projected stable future can provide you with the same stable future.