Stodgy traditionalists might lament the current state of business, citing the demise of once-proud industries, like the video rental store or the horse-and-buggy repair shoppe. For a savvy and forward-thinking entrepreneur, however, those older institutions have been replaced with new ones that better reflect the realities of modern life. Here are five rapidly growing industries that prove that starting a business will always be a good idea for the creatively inclined.
Sweets: Sometimes, the simplest ideas are the best. Many people have an enduring sweet tooth, and even in lean times most will find a way to indulge their candy cravings. Confections are notoriously recession-proof, evidenced by the fact that long-lasting brands like Snickers, Tootsie Pops, and 3 Musketeers all launched during the early days of the Great Depression.
Green Construction: Not only are citizens getting into the environmentally-friendly spirit, governments are encouraging them. Many states offer a variety of tax incentives and grants to encourage eco-friendly construction. The overall market for these types of projects is expected to further expand, as more consumers learn about the benefits of energy efficient homes.
Consulting: It's one of the country's biggest industries, expected to increase its workforce by nearly 6 percent over the next couple of years. If you've been downsized or are unhappy in your current role, it might be time to leverage your skills elsewhere. Companies everywhere need assistance with unique or different circumstances, and with the right positioning, you could be there to fill that void.
Self-improvement: Even — maybe especially — in hard times, people are looking to make themselves better. The self-improvement market is expected to grow 6.2% over the next few years, and that's on top of the $11 billion Americans spend on it annually. If you can offer help, people are willing to take it.
Education technology: With the increasing burden of loan debt, students are looking for disruptive solutions to get their information. From interactive note-taking technology to digital textbooks, there's a market ripe for expansion. With modern day learners more connected to the internet than ever, entrepreneurs have a wide range of tools in their arsenal.
So if you've got a great idea in a new field, now is the time to get in on the ground floor. If you have any questions about the process, like "how do i get a federal id?", or "what is a corporate seal?", a company incorporation services provider can help walk you through the entire process and provide you with a corporate kit that contains many of the items you will need to get started.
It sure beats opening up a Blockbuster video.