Current Best Industries for Business

Looking for the best new business opportunities?  Wondering what industries will lead the way for new business filings in the future?  Obviously, most business people should be; since these trends will affect their business opportunities as well.  Based on a recent article in Inc. Magazine the five top best industries for new business are as follows:

1. Environmental Consulting – Going green is no fad – it is a very real and growing industry and is valued at $17.8 billion and is expected to grow by 9 percent per year for the next 5 years.  Every business sector can expect to be affected by the green wave.  Expertise will be in demand for air, soil and water quality management.
2. Translation and Interpretation Services – The old adage that “talk is cheap” does not apply to the new global economy and basically any service that can bridge the communication gap is very valuable.  This segment grew at 18 percent last year and is a $2.7 billion industry.  Budding segments within this industry would include healthcare, website translation and multi-language marketing materials.
3. Home Health Care – Even with the current legislation – this segment is expected to expand by an average of 4.9 percent for the next 4 years.  Out of hospital care and less expensive alternatives are very appealing to the growing elderly population in America.  Physical therapy fields and non-medical home-care hiring are expected to be the leading segments.
4. Mobile App Design – It all started with the iPhone and now with the iPad and all the web-enabled devices available – the market for mobile apps has never been greater.  Demand will be high for programmers, developers and designers.  According to the Dow Jones Venture Source – in the past three years – location based apps have received $656 million.
5. Ferryboats and Inland Water Transportation – Yes – believe it or not – the old fashioned ferryboat is making a comeback.  Sparked by a rise in urban highway congestion – privately run ferry services as well as tourist excursions are on the increase.  A high concentration of success has been found in the Pacific Northwest and the Great Lakes.  As part of the 2009 Economic Recovery Act – the production of ferryboats and terminals is expanding.  This industry grew about 17 percent last year.  One new Coast Guard certified ferryboat that carries 150 passengers costs about $6 million.

While no new business venture is a sure thing – these trends certainly deserve some attention and those who are able to offer complimentary services to these industries are targeting a very real and successful goal.   Whatever industry you serve – we at Harvard Business Services, Inc. are happy to serve you!