Despite the fact that the formation of businesses with more than one employee has declined over the past 30-plus years, the number of sole proprietors is on the rise.
What’s more, small business owners are more optimistic then they’ve been since before the crash in 2008, and many surveys indicate they plan to hire more workers in 2015. By the largest share since 1999, Americans believe there are good, profitable opportunities for starting a business now.
Most entrepreneurs enter the market because they have a business idea they’re passionate about realizing. But if you’re looking for industries where it might pay to start your own business, we’ve collected a list of industries that have impressive growth over the past year and generally low start-up costs.
- Electronic Shopping and Mail-Order Houses
- Software Publishers
- Computer Systems Design
- Investigation and Security Services
- Services to Buildings and Dwellings
- Management, Scientific, and Technical Consulting Services
- Architectural and Engineering
- Employment Services
- Specialized Design Services
- Advertising and Public Relations
Keep in mind that while there are plenty of opportunities in growing industries, there are even more industries with negative growth. It is important, therefore, to realize that some industries offer a significantly higher success rate than others. On average the worst performers are either high capitol, or just outdated concepts. Below is a list of industries you may want to think twice before investing in.
- Internet Café
- Travel Agencies
- Social Sites and Search Engines
The market is always evolving and, while these lists are not exhaustive, they should give you an at-a-glace idea of your best opportunities for success as an entrepreneur.
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