Starting a Business This Year? 11 Promising Industries to Consider


What is a promising industry or niche that you think young entrepreneurs should start their businesses in now and why?

Software development business

These answers are provided by the Young Entrepreneur Council (YEC), an invitation-only organization made up of the world’s most successful young entrepreneurs. YEC members represent nearly every industry, generate billions of dollars in revenue each year, and have created tens of thousands of jobs. More information at yec.co.

1. Programming

If there’s one field I wish I’d pursued, it’s programming. In fact, programming is essential for young entrepreneurs for several reasons. First, if an entrepreneur knows how to program, he can complete tasks on his own. They can also better create ideas that are technically viable and also hire other skilled programmers who can take the company to new heights.

Shu Saito, SpiroPure

2. Marketing

Marketing is a promising industry for young entrepreneurs because it is growing and perennial. Businesses will always need effective marketing, and as the Internet grows, competition is getting fiercer. If young entrepreneurs can hone their marketing skills, they can build a strong business by doing marketing for other companies.

Jared Weitz, United Capital Source Inc.

3. Data Science Technology

Everything in today’s business depends on data, from daily processes to decision making. The combination of artificial intelligence and machine learning to turn data into a powerful tool through technology will be the foundation of how businesses operate in the future. Entrepreneurs should focus on bringing new or better data science technology to market.

Jonathan Prichard, MattressInsider.com

4. Health and fitness

A promising niche that is expected to grow further in 2023 is health and fitness. Covid-19 hit us hard and definitely changed our perception of health and wellness. People started leaning more towards a healthy lifestyle, and this significantly increased the demand for fitness-related products. It’s still an upward trend, making health and fitness an appropriate niche to target.

Stephanie Wells, Formidable shapes

playing games

5. Games

Gaming is a rapidly evolving industry with many sub-niches. For example, the metaverse represents a real opportunity for players. Customers entering metaverse platforms are looking for games that can include all kinds of virtual assets to buy and sell, such as treasures, weapons, and virtual terrain. It will take game creators to build innovative worlds in this space.

Kalin Kassabov, ProTexting

6. Educational Technology

The edtech industry is one of the most promising industries for young entrepreneurs. This is because there is a growing demand for education and training services, and edtech companies can provide these services at a lower cost than traditional educational institutions. In addition, edtech companies can often scale their businesses quickly and reach a global market.

Abhijeet Kaldate, Astra WordPress Theme

7. Mental well-being

A promising industry in which young entrepreneurs can try their luck is mental wellness. Many people find it difficult to cope with the fast-moving and evolving world. This leads to depression, stress and other mental struggles, so people are constantly looking for ways to deal with these problems. If you can offer a good solution, your business will surely take off.

Andrew Munro, AffiliateWP

8. Software as a Service

SaaS platforms are becoming more popular every day, offering entrepreneurs a variety of benefits that make them part of the best industry for modern entrepreneurs in 2023. These platforms allow entrepreneurs to operate their businesses without investing in developing any software or hardware , which makes them especially attractive to modern businesses that are always looking for ways to save money.

Kelly Richardson, Infobrandz

Digital advertising guide

9. Advertising

Advertising is a promising industry that young entrepreneurs should consider trying. With the availability of internet in every corner of the world, it is easier to start an online business. But simply setting up a business won’t do much. People need to advertise and promote it to attract sales. This means that advertising is a business that will always thrive.

Thomas Griffin, OptinMonster

10. Management of content and social networks

I think blogging and social media management are great niches for young entrepreneurs. These are industries that are constantly evolving and offer a lot of room for creativity. In addition, there is a growing demand for content creators and social media managers as more and more businesses realize the importance of having an online presence.

Syed Balkhi, WPB beginner

11. Ecological and renewable products

Green and renewable products seem to be on the rise. People want to do more to reduce their impact on the world, so they are turning to solar and wind energy devices. If you are considering starting a new business, it is certain that this industry will continue to be profitable for years to come.

John Turner, SeedProd LLC





Source link

Leave a Comment