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Fastest Growing Industries in the United States

There are a lot of factors that can greatly affect the way industries do their business. Changes in demographics and the socio-economic condition are the two factors that could affect the industry’s growth and sales. In this article, we are going to discuss some of the fastest growing in the industries this year and for the years to come.

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1.       Computer system design and related services – Technology is a big thing today, especially the one that primarily involves computer system design and related services. The demand for information technology infrastructure, software testing, and computer system design will continue to increase for the years to come. The average growth rate is 6.8%. So, it would be a good decision to invest in such industries.

2.       Buildings and dwellings – Businesses that have something to do with building constructions and dwellings are a big hit this year. These include outdoor constructions, landscaping services, pest control, building decks, and fences, building repair and maintenance, home remodeling and renovations, residential building rentals, and the likes. As a matter of fact, in the residential construction business alone, there is already a projected growth of 9% and it will increase for the years to come.

3.       Professional services – this is a broad industry and if you hold a professional degree, then now is the perfect time to showcase it. Examples of professional services that will boom this year are consulting, photography, accounting, research, advertising, translation and interpretation, technology, legal advice, and the likes.

4.       Building equipment contractors – It is the industry that has something to do with electrical, mechanical, and plumbing installation works. So, business is good for plumbers, HVAC contractors, electricians, and wiring installation contractors.

5.       Technology and gaming industry – This industry is one of the fastest growing industries not only in the United States but in the world. The virtual reality industry is a multi-billion dollar industry with an annual compounded growth of 55%. This growth will continue for the years to come. The growth is not only visible in the video gaming industry but in other industries that use the same applications such as health, education, and film.

6.       Cannabis industry – More and more states are heading towards legalizing medical marijuana. Just like the tech and gaming industry, medical cannabis is a multi-billion dollar industry. It continues to grow for the years to come. By 2020, it is expected to increase by up to $24 billion. This growth benefits not only those business owners but also job seekers and the economy, as a whole.

7.       Data and information technology security – cyber threats are on the rise and it scares everyone, from companies to highly reputable people, and even to just ordinary people. So, businesses that primarily involve data and information technology security are on the rise.

If you are going to start a new business venture, make sure you consider the industries where the demand is high as this will be your selling points. You can use this to your advantage. Of course, you need to do thorough research. Preparation is one of the keys to growing your business.

Businesses that you can start with under $1,000 capital

If you want to achieve time and financial freedom, then you should put up your own business. You are your own boss. You work for yourself and not for something else. However, putting up your own business can be quite challenging, especially if you do not have enough financial resources. Fortunately, there are businesses that you can start even with just under a $1,000 capital. They are the following:

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1.       House cleaning – Putting up a house cleaning business is easy. You just need to hire people who are experienced in doing thorough house cleaning. The market feasibility is high as almost everyone today are busy and don’t have much time to clean their homes. You can start your own house cleaning business for less than $500.

2.       Event planning – Do you have strong attention to detail? Are you good at organizing events? If yes, then you can actually put up your own event planning business. You wouldn’t believe it, but the event planning is a million dollar industry. Many people out there are looking for event organizers and they are more than willing to pay extra cash just to make sure their event will be perfect.

3.       Freelancer writer – Are you someone who is fond of writing and wishing that you will be seeing your name in prints? If yes, then being a freelance writer will definitely suit you. To start your own writing business, you need some money for buying computers and other tools you need to get your business on the move.

4.       Property management – It is a demanding business but is very rewarding, especially when done right. For your property management business to be successful, you will need to employ people with the right skills and experience. In less than $500, you can start your own property management business.

5.       Pet Care – Do you love animals? If yes, then a Pet Care business will suit you. It is financially rewarding too as pets are a billion dollar business, especially in the United States. Just make sure the people you hire in your business have love and compassion for pets. It is the primary ingredient for a successful business.

6.       Vlogger/Blogger – Are you someone who loves sharing your day to day routine; someone who loves to share her/his experiences with the world? If yes, then you can be a successful vlogger/blogger. It may require some money, to begin with, but it wouldn’t be as high as $1,000. You need to buy a camera, computer, and other tools you need to run a successful blog/vlog. You need to get millions of followers to start earning and one way of getting real followers is by making your blog interesting and entertaining. It does need a lot of creativity to keep your business running.

Just because you don’t have thousands of dollar in your bank account does not necessarily mean that you can’t put up your own business. With less than $1,000, you can start operating your own business. Start low and slow and gently work your way to the top.