Knowing the rate of success within certain industries is an absolute must by entrepreneurs looking to break into the business scene, but deciding exactly what industry to enter can be tricky. Obviously, entrepreneurs should follow what they are passionate about, but being able to intelligently decide whether or not that passion can be turned into a lucrative career is what defines good entrepreneurs from great ones.
Now that we are entering the new year, what better time to start a business than in its first month? Business trends have been closely studied in 2017, and many are projected to continue or drive innovation well into 2018. With that said, the following industries are just a few of many expected to flourish in the coming year, and ones that aspiring entrepreneurs should consider diving into so long as their interests match.
More and more businesses today are putting an emphasis on the wellbeing of their employees, adopting programs that directly benefit mental and physical health. These programs are expected to continue growing at a rapid rate given the companywide benefits that follow. Employee engagement and productivity can be increased greatly, and reduced health premiums often follow. Experts in fields like massage therapy, yoga, nutritional education, fitness, or stress management have a plethora of opportunities in the corporate world.
Looking back at the recent Equifax breach and considering the numerous cyber attacks that have occurred since, cybersecurity has been made a top priority among businesses across the world. Digital information is among some of the largest collections of data in the world, posing a great risk for companies in the event of a breach. Starting a business in this field requires a wealth of tech knowledge, along with the patience and care that comes with handling private information. Effective cybersecurity businesses are able to expose potential hackers, find lost information, and develop firewalls capable of stopping the most skilled cyber criminals; characteristics that today’s businesses are often desperate for.
Food & Beverage
The food industry has, and (most likely) always will be booming. Now more than ever, people all over the world are harnessing the powers of digital media to showcase exquisite meals they’ve eaten, which also gives culinary experts an enormous platform to feature works of their own. Everybody is constantly looking for the latest food trends, and it doesn’t take much to grab consumers’ attentions. Farmers markets have become significantly more popular in recent years, along with pop-up restaurants, food trucks, and any unique meal in general. Entrepreneurs skilled in cooking have many opportunities in the culinary world because of this.
It may seem counterintuitive entering this industry seeing as companies like Amazon and Etsy completely dominate the field, but online shopping is nowhere near a dying business breed. In fact, the sheer size and success of Amazon alone creates proportion among the smaller businesses, who can then create their websites and sell their products internationally. Of course, there is always competition, but the level playing field allows smaller entrepreneurs to compete equally with larger corporations.