Fastest Growing & Best Industries for Starting a Business in 2017 Here is where to get the best business startup ideas in booming industries 2017 with greatest opportunities for entrepreneurs. All of them have strong growth projections with positive future trends. The average US small business grows annually at 8%, firms in these industries have grown at a much faster pace than their competition.
When you are considering launching your own firm it is wise to start your business in an industry with rapid growth. As these industry trends and new technology fuel the economy you can ride the wave to success. Check out these best fast-growth industries as places to launch your next startup.
You could make these into million dollar business ideas!
Read on and become inspired for your next business startup with this business industries list.
Fastest Growing Businesses to Start a Business in 2017
Corporate Wellness
In 2017, 45% of corporate employers offered some form of health and wellness program to their employees in 2013, up 15% from 2005. Experts estimate that the corporate wellness industry will grow annually at 10% or more. Companies are investing in health care in their offices to boost employee productivity, reduce health premiums and retain their top talent. There are a wide range entrepreneurial opportunities in meditation training, yoga, nutritional counseling and health education.
Green Builders
Now that the building industry is showing strong signs of growth the greatest demand is for green building. Last year, more than half of all commercial buildings are sustainable environmentally and energy efficient. Also, residential construction is becoming greener than ever, thanks to government support with grants and tax credits for building green. The demand is estimated to continue growing strongly at a rate of 23% annually.
Language Translation
Today’s global internet economy needs services to translate the thousands of languages spoken worldwide for websites, product packaging, and social media. While technology has improved computer translation, it is still crude and insufficient for most businesses needs. The medical equipment industry is a particularly lucrative prospect for these types of services. The translation industry is projected to grow at 42% in 2020 from its size in 2010, as reported by the Bureau of Labor Statistics.
Educational Software
The education crisis in America is opening up the education software industry for innovative startups with new ideas. Of particular note is the early education, pre-kindergarten, market that was virtually nonexistent in 2010 then grew to over $14 million in 2012.
The electronic education industry, globally, is projected to increase over 20% annually to 2017. Emerging trends include live personalization of lessons, learning as a game and better student tracking progress.
Baby Business
The birth rate in America is on the rise with millennial’s kids, who need specialized goods and services. Here are some successful startup ideas in this market; gluten-free baby food, gender-neutral toys, and chemical free diapers. The global baby market is predicted to grow to $67 billion by next year.
Electronic Forensics
This industry is born out of the massive increase in digital information that is getting lost and stolen online. This new industry helps find lost data on devices, such as mobile phones and laptops, and company networks. Tracking down hackers and other types of online criminals is also a part of this industry. Digital security will grow 14%, or more, annually.
Food Business
America has become a nation of foodies forever looking for the next greatest taste trend - the more interesting and offbeat the better. With the rise of independent and alternative food shops such as gourmet markets, farmers markets, online subscription services and pop-up shops your opportunities are endless.
Another growing portion of the food industry is improving food manufacturing for better food safety. All levels of the food industry, from local restaurants to food trucks, need help with food inventory management and better food handling processes.
Technology Fashion
We are no longer satisfied just holding technology in our hand, we now want to wear it on our bodies, so we can read news and connect on social media. Wearable technology is trending very strongly. Hot items include sport devices that track your steps and calculate how many calories you burned contribute to this fashion computer market that is estimated to reach up to $35 billion in 2020.
Artificial Intelligence (AI)
AI has moved out of the science-fiction movie and into our everyday life. From voice recognition programs on our cell phones to virtual assistance on our computers by Siri and Cortana the trend has arrived. It’s a booming market that will reach $70 billion 2020. Here are some interesting business applications of artificial intelligence in the stock market, real estate and human resources. http://www.businessnewsdaily.com/9542-artificial-intelligence-businesses.html
E-Commerce
One of the strongest trends, with the most sustainable growth, is the e-commerce, online shopping industry with annual revenues of over $300 billion. Websites such as Amazon and Etsy have leveled the playing field for small entrepreneurs to be able to set up shop and sell their products globally competing equally with multinational corporations.
Health Care
An evergreen yet the volatile industry, at $1.7 trillion volume, healthcare remains a gold mine for start-ups. Small innovative firms can help with technology for booking appointments, medication dispensing and prescription delivery via mobile phones.
Studying fastest growing industries is a good tactic for entrepreneurs to focus their efforts where the profits are more abundant. Smart entrepreneurs know that the same amount of effort put into a hot industry will yield substantially more profit than a staid or dying market.
These are the fastest growing markets for your best chance to start a business successfully.
List of home based business ideas
Check out this infographic of the INC 5000 Fastest Growing Companies in the US
The most successful small businesses were in these fast-growth industries:
- Travel & Hospitality - 201% aggregate growth rate
- Media - 198%
- Energy - 174%
- Security - 171%
- Real Estate - 168%
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