Business Start-up Trends – Part 1
Business Start-up Trends are ever changing, barriers of entry for business are being broken, and surpassed whilst some are still significantly high. We take look at some that are currently profitable now. Below are some pointers,
Characteristics of easy business start-ups
- Are able to do well even in uncertain economic times;
- Do not require a PhD or decades of experience. Some require trade school training, a university degree or a prior apprenticeship, while others need only some prior experience and a passion for the industry.
- Do not require large amounts of startup capital, but only what every startup business requires: dedication, hard work, perseverance and a desire to succeed.
“Most of these opportunities can be operated as home-based businesses”
If your goal in life is to become very wealthy, chances are you won’t get there as a small business owner. But you’ll have a chance to generate a healthy income, be your own boss and make all the decisions. You could potentially have a more flexible lifestyle. Building something from the ground up can make starting a business very rewarding in itself.
Here are my picks for the best small business ideas based on current trends in business and demographics.
Virtual reality computing (VR) is a huge leap forward in immersing the user in a realistic sensory experience. The potential uses of virtual reality for business or pleasure are practically limitless, for example:
- Team-building exercises– shaking up team building events with a group VR experience
- Social media VR interaction– friends will be able to interact in a virtual online space
- Training– VR can inject a much higher degree of realism into training scenarios. Many businesses (such as UPS) are launching new delivery driver training programs using VR. Pilots, Driver Simulation Tests and Military training etc.
VR “escape rooms” and lounges (where groups of people get together to play VR games or go on VR adventures and/or solve group puzzles) are experiencing phenomenal growth. If you are tech savvy and interested in the technology, virtual reality could be the business opportunity for you.
It’s unfortunate that nowadays that some parents have a tendency to discourage their children from considering skilled trades as a career choice, in part due of the erroneous belief that trades are poorly paid. In fact, skilled tradespeople are generally very well paid and enjoy satisfying careers.
It has been estimated that 40% of current tradespeople will be retiring in the next decade, creating a huge demand for talented workers in trades such as:
- Carpentry and general construction
- Plumbing, pipefitting and steam fitting
- Electrical and electronic control systems
- Heating, ventilation, air conditioning, and refrigeration (HVAC)
- Machinists and Metalworkers
- Steel working
The nature of skilled trades makes them ideally suited for self-employment:
- High salaries and strong demand for experienced tradespeople in most locations
- Most trades can be operated as home-based businessesas the work is performed at the customer job site
- Compared to many businesses, startup capital costs are relatively low for most skilled trades, and most cannot be automated to any degree, ensuring future job security
- The ability to relocate to other jurisdictions where demand is stronger. Many experienced tradespeople take advantage of opportunities in remote or overseas locations to command much higher levels of compensation.
Why not take advantage of the demand and consider one of the skilled trades as your next business opportunity?
Software Engineering and Development
Software engineers and developers create, test and maintain software on a variety of platforms, from mainframes to mobile devices, in The US the demand for software developers is expected to increase by 17 percent each year through 2023,
The nature of the software development industry makes it ideal for contract employment. Many software engineers start out as salaried employees and eventually become self-employed contractors. Cloud computing and ease of remote access make software development an ideal home-based business.