5 Best Industries To Start A Business

The right time to start your first own business is now!”  It is very important to study that in which industry you will be setting up business. How to find which industry is best to start a business? That’s the growth and money making capacity of the industry that helps you to decide that what the best industries to start a business are.

So here are the Top 5 best industries to start a business:

  1. Media

Netflix is expected to hit 800 Million subscribers by 2021. In fact, the global video games market is expected to pass $138 Million by 2021.”

So isn’t it enough to see how much scope is there in the media industry? No industry other than of media is transforming and growing so fast. Media focused industry includes gaming, virtual reality, streaming television, blogging, digital publishing and augmented reality industries.

  1. Technology

The United States Bureau of Labor Statistics suggests that growth in technological fields will grow by at least 13% through 2026.

Fields like data analysis, system analysis, software programming, big data, cryptocurrency, block chains, internet of things (IoT) and cyber security are among the hottest topics in technology sectors and the one wishing to start a business should focus on these fields.

  1. Healthcare

The Bureau of Labor Statistics suggests that approximately 50% of all the occupations in healthcare sector to experience a surge in employment by 2026.

Budding Entrepreneurs can enter into healthcare sector providing diversified healthcare services through convenience and data analysis. Fields like biotechnology and voice assistant healthcare are the sectors that will witness huge advancements in the coming 3-5 years.

  1. Self-Services

According to a report by Mordor Intelligence, the self-service market valued at $21.2 Billion in 2017 is expected to reach $45.3 Billion by 2023. In the digital era, advancements in Artificial Intelligence (AI) and Machine Learning will broaden the scope of self services sector.

  1. Financial Services

According to The Power of Personalisation in Banking, published by the Digital Banking Report, 84% of professionals in financial services sector are considered Very” or “extremely important to know the customers but find it hard to implement strategies that help to make that connection.

It is indeed the best industry to start your business with, because the new generation look for personalised banking solutions from financial institutions that avail them one-on-one guidance and care about their life plans in terms of finances.

ALSO READ: Want To Start You Own Business? Try These Tips!

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