Here listed are the most promising industries for start-ups – data was gathered from the Bureau Of Labor Statistics and from private research groups such as Sageworks,IBISWorld, and Anythingresearch.com.
1. Environmental Consulting
If you thought going green was a fad, think again. Environmental consulting is a robust and growing industry, valued at $17.8 billion, according to IBISWorld. Growth of 9 percent a year over the next five years is expected. This industry is well suited to independent contractors with the skills to install environmental gear such as wind turbines, solar panels, and green roofs. Every sector, from government to the individual household level, is expected to thrive. Looking to specialize? Expertise will be in demand in the fields of air-, soil-, and water-quality management, as well as sustainability studies as they pertain to development projects.
2. Translation and Interpretation Services
Talk is cheap, but solid communications are priceless in this global economy. The U.S. military and businesses expanding overseas are two of the translation and interpretation industry’s best customers. Overall, the market grew some 18 percent last year. According to AnythingResearch.com, the translation and interpretation services industry is a $2.7 billion market that has grown an average of 22 percent a year since 2004. The healthcare industry is another area in need of language, due in part to the growing U.S. immigrant population. Many opportunities exist in the business-to-business space as well, which includes website translation and creation of multi-language marketing materials. There are also related tech opportunities in the burgeoning market for mobile on-demand translation via SMS.