Areas of Growth for Entrepreneurs in the Coming Years
No one list can incorporate all the possibilities for entrepreneurs in the coming years. That’s because innovations in technology have created more ways than ever for business leaders to create successful new companies. However, the areas below look to be areas of growth in the coming years.
For those who earn a master’s degree in innovation and entrepreneurship, it’s never been a better time to put the skills they learn to use in the real world. In addition to advances in technology, the global market available via the Internet has vastly increased the number of business opportunities.
But for those who get an education in this exciting area, what comes next? The following are a handful of the many areas where entrepreneurs will find fertile ground for growing their new business.
As technology continues to make more smart cities possible, transportation is an area where growth and change is expected. This includes business related to autonomous cars and electric vehicles, as well as smart city innovations in real-time traffic and weather data reporting apps used by citizens. All this involves the Internet of Things, which is a technology that businesses are still trying to find practical applications for that benefit consumers. Transportation is one area where the possibilities seem high.
Healthy Fast Food
Fast food continues to remain a viable industry, it’s just that people are moving away from greasy burgers and fatty food as they learn more about good health and nutrition. While the food industry is not for the faint hearted, it offers opportunity in areas such as healthy food trucks.
Anything to do with wellness is hot and looks to remain that way for a long, long time. Opening a yoga studio is probably the best-known idea in this area. It’s nothing new, but yoga continues to grow as more people recognize the health benefits it provides.
When hasn’t real estate been a good area for entrepreneurs? Hardly ever, and that trend continues as technology creates more possibilities. Online brokerage services and design services are two areas, as well as any that involve using technology to better manage properties, including rentals.
The internet is the wild west for entrepreneurs, with opportunities to establish and run a business at a fraction of the cost for doing so in a traditional commercial establishment. A related area where consulting companies are needed is digital marketing, which continues to grow as small and mid-size companies (and some large ones) look outside for consultants to handle marketing efforts.
Obviously, anything to do with data analysis, app development and cloud computing (to name just a few) are going to be huge growth areas. You could combine the healthcare idea listed above and create a wellness app. The data segment also falls into the area of consulting as a digital marketer, which increasingly is data-driven. Essentially, any business directly or tangentially involved with technology innovation is a good place to look for starting a business.
Digital marketing consulting was mentioned above, but there are many more areas of consulting now available. One of the fastest growing is ethical marketing, which helps businesses develop and grow in a way that adheres to modern society’s ideas on fairness and equality. This is a consulting job that can also help businesses adhere to government regulations on these issues.
These are just a few of the ideas that entrepreneurs can follow in the coming years. It’s never been a better time to become an entrepreneur and earning the proper degree can give graduates an even better chance to succeed.